Last reviewed 22 October 2026 · Demetre E. Katsouris, Managing Partner
In a nutshell. A business in Greece is usually set up as a private company (IKE), a société anonyme (AE) or, for small ventures, a general or limited partnership (OE/EE). The IKE has no minimum capital and is run by one or more administrators; the AE requires share capital of at least €25,000, fully paid on formation, and a board of three to fifteen members — or a sole director where the company is small and the articles permit — and alone may issue bonds. Formation with the model articles is completed online through GEMI’s electronic one-stop shop, usually the same day, with automatic registration at the tax authority and social security. Katsouris Law Firm forms companies for Greek and foreign founders, in person or under power of attorney.
Which form should I choose?
| IKE (private company) | AE (société anonyme) | OE / EE (partnership) | |
|---|---|---|---|
| Liability | Limited to the contributions; a partner may also give a “guarantee contribution” up to a stated amount | Limited to the shares | Unlimited for general partners; limited partners up to their contribution |
| Minimum capital | None; capital contributions in cash or kind, non-capital contributions (services) and guarantee contributions are all permitted | €25,000, fully paid; par value between €0.04 and €100 | None |
| Management | One or more administrators, natural persons | Board of 3–15; a sole director (natural person) in small and very small AEs if the articles allow | The partners |
| Formation | Online with model articles; notary only for bespoke articles or contribution of real property | Online with model articles, or by notarial deed for bespoke articles; a duty of 1‰ of the capital is paid to the Competition Commission | Online with model articles |
| Transfer of participation | Written agreement, notified to the company and registered at GEMI | Registered shares entered in the share register or held in book-entry form; restrictions permitted in the articles | Consent of the partners |
| Bond issues | No | Yes | No |
| Typical use | Owner-managed businesses, property-holding, start-ups, subsidiaries | Projects with lenders or investors, hotels, larger companies, listed companies | Small professional or family ventures |
The steps
- Tax numbers first. Every foreign founder, administrator and director obtains a Greek tax identification number, under power of attorney if abroad.
- Name and form. Check of the name at GEMI; choice of form, seat and financial year.
- Articles. The model articles for speed, or bespoke articles where the business needs them — objects, capital, management, transfer restrictions, and the provisions a shareholders’ agreement will complement.
- Founders’ documents. Passports and proof of address; for corporate founders, certificates of incorporation and good standing, apostilled and translated.
- Registration. Through the electronic one-stop shop (model articles) or a notary acting as one-stop shop (bespoke articles); issue of the GEMI number and the company’s tax number, and registration with social security, in one procedure.
- After registration. Registration of the beneficial owners in the Central Register within 60 days; VAT registration where applicable; corporate bank account; accountant; FDI notification where Law 5202/2025 applies; GEMI publication of the sole shareholder where there is one.
What the owner-manager should know before signing
The administrator of an IKE and the sole member of a single-member IKE are insured with EFKA; the directors of an AE are insured only where they hold at least 3% of the shares, or as employees where they are salaried (Law 4387/2016 arts. 38–39; Law 4072/2012 art. 116(9)); a non-EU administrator who will work in Greece needs the corresponding residence permit. An IKE has a fixed duration — twelve years unless the articles provide otherwise — which may be extended by decision of the members. The financial year, the first filing deadlines and the beneficial-owner registration run from the day of registration.
Frequently asked questions
How long does it take? Registration itself is completed the same day for a company with model articles, once every founder has a Greek tax number and the documents are in order; obtaining apostilled documents from abroad and opening the bank account are the slow steps.
Does the company need a Greek director? Not in law; a representative able to deal with the tax authority and banks in Greece is practically necessary, and banks examine who manages the company.
Can the company buy property immediately? Yes, once registered and with a tax number.
Is there a minimum capital for an IKE? No. The capital is whatever the members decide; lenders and landlords will, however, look at it.
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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.
