What are the requirements for the formation of a Limited Liability Company (EPE)?

1. A Limited Liability Company may be formed by one or more persons.
2. The articles of association, which are prepared in the form of a Public Notary’s deed.
3. The company’s registered office
4. Social insurance with OAEE.
5. Minimum company capital: €4,500.
6. The formation of EPE takes place at GEMI/the General Commercial Registry (One Stop Service).

What steps need to be taken for the formation?

Step 1: Checking whether a specific professional license is needed.
Step 2: Finding the place of establishmen.
Step 3: Drawing up the articles of association.
Step 4: Collecting all the supporting documents necessary for the formation.
Step 5: Pre-registration to OAEE social insurance fund.
Step 6: Submitting the supporting documents to One Stop Service.

What help will I be offered by KRS?

KRS will take all necessary actions, on your behalf, for the formation of your own Limited Liability Company, without you being asked to do anything more than providing us with a simple authorization. Within 7 to 20 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records.

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

What do I need to know about Limited Liability Companies?

1. Formation in 7 to 20 days.
2. Minimum company capital: €4,500.
3. Limited duration.
4. Limited liability of company partners.
5. There need to be articles of association providing for the purpose, modus operandi and management of the company.
6. As far as company liabilities are concerned, the company is liable through company assets, not through the personal assets of company partners
7. The company capital is divided in shares.
8. Two organs exist, the partners’ General Meeting and the Administrator.
9. 9. Their operation is subject to specific publication formalities at formation stage as well as throughout their duration.

A limited liability company is a capital company with legal personality, liable for its debts only through the company’s assets. Pursuant to article 3, Law 3190/1955, a Limited Liability Company is a commercial company even when the company purpose is not of commercial nature. However, exercising certain activities is not permitted, such as banking, insurance, stock trading activities, securities portfolio management, mutual funds management, leasing, factoring activities, high-tech venture capital activities and sports activities.

What is the taxation status for an EPE?

The profits generated by a Limited Liability Company (EPE) are taxed at 29% and 15% on profit distribution, with the tax pre-financing rate for the following year amounting to 100%.

What are the requirements for the formation of a Public Limited Company (AE)?

1. A Public Limited Company (AE) may be formed by one or more persons
2. The articles of association, which are prepared in the form of a Public Notary’s deed
3. The company’s registered office
4. Social insurance with OAEE is obligatory for company partners with an equity stake of 3% or higher.
5. Minimum share capital: €24,000
6. The formation of AE takes place at GEMI/the General Commercial Registry (One Stop Service)

What steps need to be taken for the formation?

Step 1: Checking whether a specific professional license is needed
Step 2: Finding the place of establishment
Step 3: Drawing up the articles of association
Step 4: Collecting all the supporting documents necessary for the formation
Step 5: Pre-registration to OAEE social insurance fund
Step 6: Submitting the supporting documents to One Stop Service

What help will I be offered by KRS?

KRS will take all necessary actions, on your behalf, for the formation of your own Public Limited Company, without you being asked to do anything more than providing us with a simple authorization. Within 7 to 20 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records.

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

Τι πρέπει να ξέρω για τις Ανώνυμες Εταιρείες;

1. Formation in 7 to 20 days
2. Minimum share capital: €24,000
3. Long duration (commonly, 50  years)
4. Limited liability of company partners
5. There need to be articles of association providing for the purpose, modus operandi and management of the company
6. As far as company liabilities are concerned, the company is liable through company assets, not through the personal assets of company partners
7. Partners with an equity stake lower than 3% need not have social insurance with OAEE
8. Two organs exist, the partners’ General Meeting and the Administrator
9. Decision-making is based on majority voting
10. The share capital is divided in equal shares incorporated in securities, i.e. stocks
11. Their operation is subject to strict publication formalities at formation stage as well as throughout their duration

A public limited company is a capital company with legal personality, liable for its debts only through the company’s assets. Each Public Limited Company (AE) is a commercial company even when the company purpose is not of commercial nature, pursuant to article 1, Law 2190/1920. The main characteristics of an AE are the following:

What is the taxation status for an AE?

The profits generated by a Public Limited Company (AE) are taxed at 29% and 15% on profit distribution, with the tax pre-financing rate for the following year amounting to 100%.

What are the requirements for the formation of a General Partnership (OE)?

1. Formation in 7 days
2. At least two partners are necessary for the formation of a General Partnership
3. The articles of association, which are prepared in the form of a private deed
4. The company’s registered office
5. There is no specific requirement regarding the amount of the company’s capital
6. The formation of OE takes place at GEMI/the General Commercial Registry (One Stop Service)

What steps need to be taken for the formation?

Step 1: Checking whether a specific professional license is needed
Step 2: Finding the place of establishment
Step 3: Drawing up the articles of association
Step 4: Collecting all the supporting documents necessary for the formation
Step 5: Pre-registration to OAEE social insurance fund
Step 6: Submitting the supporting documents to One Stop Service

What help will I be offered by KRS?

KRS will take all necessary actions, on your behalf, for the formation of your own General Partnership, without you being asked to do anything more than providing us with a simple authorization. Within just 7 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records.

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

What do I need to know about General Partnerships?

1. Formation in 7 days
2. High credit standing
3. Unlimited liability of the general partners
4. Mandatory social insurance with OAEE for all partners
5. There need to be articles of association providing for the purpose, modus operandi and management of the company

A General Partnership (OE) is a personal company and at least 2 partners are needed for its formation. OE is the only form of company where all partners are liable together with the legal entity for company debts, through their personal assets for that matter. This provision establishes the unlimited and joint and several liability of general partners together with the company with regard to the obligations undertaken by the legal entity, irrespective of origin, namely irrespective of whether these arise from contract, tort or otherwise. The General Partnership is a recommended form of company for those who wish to have a high credit standing on account of the particularities discussed above.

What is the taxation status for an OE?

Profits generated by a General Partnership are taxed at the following rates:

Taxable income (in EUR)                               Tax rate (%)
< 50,000                                                                26%
> 50,000                                                                33%

Example:
For a company with profits amounting to 52,000 euros for tax year 2015, the tax charge is:
The first €50,000 are taxed at a 26% rate, namely, €50.000 Χ 26% = €13,000.
The next €2,000 are taxed at a 33% rate, namely, €2,000 Χ 33%= €660.00.
Total tax charge: €13,000€+€660.00= €13,660*
* Total tax charge shall take into account a 75% tax pre-financing rate.

INFO:  In the event that a General Partnership keeps double-entry books of accounts, the tax rate amounts to 29%.

What are the requirements for the formation of a Limited Partnership (EE)?

1. For the formation of a Limited Partnership, at least two partners are needed, out of whom, one shall serve as the general partner and the other one shall be the limited partner, without any limitation as to their participation rates
2. The articles of association, which are prepared in the form of a private deed
3. The company’s registered office
4. There is no specific requirement regarding the amount of the company’s capital
5. The formation of EE takes place at GEMI/the General Commercial Registry (One Stop Service)

What steps need to be taken for the formation?

Step 1: Checking whether a specific professional license is needed
Step 2: Finding the place of establishment
Step 3: Drawing up the articles of association
Step 4: Collecting all the supporting documents necessary for the formation
Step 5: Pre-registration to OAEE social insurance fund
Step 6: Submitting the supporting documents to One Stop Service

What help will I be offered by KRS;

ΗKRS will take all necessary actions, on your behalf, for the formation of your own Limited Partnership, without you being asked to do anything more than providing us with a simple authorization. Within just 7 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records.

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

What do I need to know about Limited Partnerships?

1. Formation in 7 days
2. There need to be articles of association providing for the purpose, modus operandi and management of the company
3. Unlimited liability of the general partners
4. Mandatory social insurance with OAEE for all partners
5. High credit standing

A Limited Partnership (EE) is a personal company and at least 2 partners are needed for its formation, with one of them being the general partner and the other one being the limited partner. The general partner is jointly liable with the legal entity for company debts, through his/her personal assets for that matter. The Limited Partnership is a recommended form of company for those who wish to have a high credit standing and perform their transactions under a company form.

What is the taxation status for an EE?

Profits generated by a Limited Partnership are taxed at the following rates:

Taxable income (in EUR)                               Tax rate (%)
< 50,000                                                                26%
> 50,000                                                                33%

Example:
For a company with profits amounting to 52,000 euros for tax year 2015, the tax charge is:
The first €50,000 are taxed at a 26% rate, namely, €50.000 Χ 26% = €13,000.
The next €2,000 are taxed at a 33% rate, namely, €2,000 Χ 33%= €660.00.
Total tax charge: €13,000€+€660.00= €13,660*
* Total tax charge shall take into account a 75% tax pre-financing rate.

What are the requirements for the formation of a Sole Proprietorship?

1. 1. 1. Place of business (establishment)
         Establishment is proven either by means of a lease agreement or a grant deed, or a title deed, if the place of business is owned by the sole proprietor.
      2. Mandatory social insurance with OAEE
      3. Certificate of Notice – Preregistration of Company Name / Trade Name. This concerns your right to use the Company Name / Trade Name you wish to give your business. This certificate is granted by the competent Chamber
      4. Taxpayer’s Identification Number (AFM) and Activity Commencement Certificate. Your existing Taxpayer’s Identification Number (AFM) is used and the certificate is granted by the competent Tax Office of the region where your business will be established or is subject to.
      5. Registration to the competent Chamber

  What steps need to be taken for the formation?

Step 1: Checking whether a specific professional license is needed
Step 2: Finding the place of business (establishment)
Step 3: Registration to the competent Chamber
Step 4: Filing for activity commencement in the competent Tax Office
Step 5: Registration to OAEE social insurance fund

What help will I be offered by KRS?

KRS will take all necessary actions, on your behalf, for the formation of your own Sole Proprietorship, without you being asked to do anything more than providing us with a simple authorization. Within just 2 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records.

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

What do I need to know about Sole Proprietorships?

1. Activity commencement in 2 days
2. Flexible form of business
3. Low operating costs

What is the taxation status for a Sole Proprietorship?

Profits generated by a Sole Proprietorship shall be taxed according to the following rates:

Taxable income (euros)                                       Rate (%)

< 50,000                                                                26%
> 50,000                                                                33%

Sole Proprietorship Taxation – Example:

For a proprietorship having generated €52,000 in tax year 2015, the tax charge is:

The first €50,000 are taxed at a 26% rate, namely, €50.000 Χ 26% = €13,000.
The next €2,000 are taxed at a 33% rate, namely, €2,000 Χ 33%= €660.00.
Total tax charge: €13,000€+€660.00= €13,660*
* Total tax charge shall take into account a 75% tax pre-financing rate.

INFO:  With regard to natural persons having filed for activity commencement as of 1^st January 2013, for the first three years as of commencement of activity, the tax rate applicable for the first bracket under article 29(1), Law 4172/2013 (26%) is reduced by fifty per cent (50%) provided that the annual gross income (turnover, not inclusive of VAT) generated from their business activity is not in excess of ten thousand (10,000) euros.

What are the requirements for the formation of a Civil-Law Not-for-Profit Company?

1. For the formation of the company (AMKE), at least two parties are needed
2. Place of establishment

(Establishment is proven either by means of a lease agreement or a grant deed, or a title deed, if the place of establishment is owned by company members).

1. Articles of association drawn up in the form of a private deed and published in the Court of First Instance
2. Social insurance exemption certificate issued by OAEE
3. Filing for activity commencement (the not-for-profit nature of the company is decided on a case-by-case basis by the Head of the competent Tax Office)

What steps need to be taken for the formation?

Step 1: Drawing up the articles of association
Step 2: Finding a place of establishment
Step 3: Registration to the competent Chamber
Step 4: Filing for activity commencement in the competent Tax Office

What help will I be offered by KRS?

KRS will take all necessary actions, on your behalf, for the formation of your own Civil-Law Not-for-Profit Company (AMKE), without you being asked to do anything more than providing us with a simple authorization. Within just 2 days as of granting us authorization, we will deliver you the complete dossier of your new business, without further delay, so that you may start your business activity. Except for a physical dossier comprising all the necessary documents of your new business, you will receive fully organized digital records

What will I be offered by KRS along the way?

From the very first moment of the official start of your business activity, KRS will become a valuable advisor and partner! Every week, an associate of ours will take delivery, from your offices, of invoices and other documents pertaining to the smooth and proper operation of your company in order to proceed with their (physical and digital) filing and management, according to the certified quality standards applied by KRS. In addition, irrespective of the size of your company, you will receive a Monthly Financial Report (MFR) every month both in hard copy and digital form! This is a unique service, as far as standards in Greece go, which briefs you directly and substantially on the course of your business, its financial results, taxes and liabilities. This will be sent to you at your offices on a monthly basis!

What do I need to know about Civil-Law Not-for-Profit Companies?

1. Commencement of activity in 2 days
2. There need to be articles of association
3. Low operating costs
4. The Head of the competent Tax Office investigates on the true purpose of the company.

The labelling of a company as Civil-Law Not-for-Profit has to be real. Whether a legal entity is not for profit is decided by the Head of the competent Tax Office, irrespective of the labelling given by the entity’s founders, since it depends on true facts.

What is the taxation status for Civil-Law Not-for-Profit Companies (not for subscriptions or donations)?

Profits generated by a Civil-Law Not-for-Profit Company are taxed at 29%, with the tax pre-financing rate for the following year amounting to 100%.