Last reviewed 22 October 2026 · Demetre E. Katsouris, Managing Partner
In a nutshell. A foreign company may operate in Greece in three ways: through a branch, registered at GEMI without separate legal personality and with a legal representative in Greece; through a Greek subsidiary, usually an IKE or AE; or, where the Greek presence will only serve the group, through an office under Law 89/1967, taxed on a cost-plus basis of at least 5% and requiring at least four employees and €100,000 of annual expenditure in Greece. Branches and subsidiaries pay Greek corporate income tax of 22% on their Greek profits. Katsouris Law Firm establishes all three for international clients.
Branch, subsidiary or Law 89 office?
- Branch — the parent is directly liable for the branch’s obligations; no Greek share capital; registration requires the parent’s corporate documents and a board resolution appointing the legal representative, who must hold a Greek tax number and an address for service; accounts follow the parent’s.
- Subsidiary — a Greek company owned by the parent; liability limited to its capital; its own administrators or board and accounts; preferred where the Greek business will borrow, own significant property, employ many staff or be sold separately; dividends to the parent carry 5% withholding tax unless the EU Parent–Subsidiary Directive or a treaty relieves it.
- Law 89/1967 office — for consulting, accounting, IT, HR, call-centre and similar services provided only to the head office and affiliates abroad; licensed by ministerial decision within fifty days of a complete file, with a provisional licence possible in fifteen, on a fee of €300 (€600 where a provisional licence is also requested) and with twenty days to complete the documents (Law 5338/2026 arts. 33–35); taxable income is a mark-up of not less than 5% on expenses, fixed in the licence and reviewed at least every five years; after the first twelve months at least four employees (one may be part-time) and €100,000 of annual expenses in Greece. The former state-aid provisions for staff costs (arts. 6, 7 and 8A of Law 89/1967) were repealed by Law 5338/2026 art. 49.
- Tax in all cases: corporate income tax 22%; whether a liaison activity falls short of a taxable permanent establishment is assessed case by case.
Registration of a branch, step by step
- Board resolution of the parent establishing the branch, naming the legal representative and the scope of his or her authority.
- The parent’s certificate of incorporation, articles and good-standing certificate, apostilled and officially translated; a Greek tax number for the representative.
- Registration at GEMI and issue of the branch’s tax number; registration of the beneficial owners of the parent in the Central Register within 60 days.
- Bank account, accountant, employer registration where staff will be employed; residence and work permits for staff transferred from abroad.
- Where the parent’s sector or ownership falls within Law 5202/2025, the FDI screening notification to the Ministry of Foreign Affairs before the investment is made.
Frequently asked questions
Does the legal representative have to be Greek? No, but he or she must hold a Greek tax number, have an address for service in Greece and be able to act here; many groups appoint a local manager or a professional representative.
Can the branch buy property? Yes, in the name of the foreign company; the special real estate tax and the disclosure of the parent’s individual owners must then be considered.
Can we convert the branch into a subsidiary later? Yes, by contributing the branch to a new Greek company, often within a tax-neutral regime.
Is a Law 89 office suitable for a regional headquarters? It is designed for exactly that — support services to the group — but not for selling to Greek customers; if the office will trade in Greece, a branch or subsidiary is the right form.
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This page is general information and does not constitute legal advice. It reflects the law as at the date shown and may change.
