Capital and Personal Companies in Greece and Romania

The Capital Companies

Shareholders Corporation / Societe Anonyme (AE) in Greece

Limited Liability Company (EPE) in Greece

Private Capital Company (IKE) is a new form of business entity in Greece

The Company Limited by shares in Greece, or Anonymous company, is the most favorable form a Greek business can take (especially for the banking sector and the market sector). The minimum required share capital is 45.000 euro and must be fully paid up.

The directors and the shareholders can be of any nationality and need not to be resident in Greece.

The amount of equity invested sets the liability of the shareholders.

Under the one-stop-shop legislation (Law 3853/2010), companies can submit their articles of association directly to the General Commercial Registry without prior approval by regional authorities, unless they are companies having special activity (such as banks, insurance companies, investment-services companies and listed companies); these need to have their articles approved by the Ministry of Development.

We provide you with full support in preparing the articles of association, in collaboration with a public notary affiliated to our office.

The Limited Liability Company in Greece is preferred by small and medium size companies because of the low minimum share capital required (1 euro) and fewer formalities required for establishing it. This director and the shareholder are not required to be resident in Greece for the company setup.

Like in the Company Limited by shares the liability of the shareholders is determined by the amount of invested capital.

Eίναι μια νέα μορφή εταιρείας στην Ελλάδα:

The IKE is considered a more flexible alternative to the limited liability company. An IKE can be started with one partner, and has a minimum start-up capital of €1. Like the Limited Liability Company, an IKE can be incorporated with 1 director and 1 shareholder who can be of any nationality.

An IKE can only be registered for a definite duration. In case no specific time period is mentioned, the duration is assumed to be 12 years, after which shareholders must apply for an extension of the company’s operations.

Personal Companies

Limited Partnership (Ε.Ε.) in Greece

General Partnership (O.Ε.) in Greece

Single Traders in Greece

The Limited Partnership is formed by two or three partners, with no minimum capital required. At least one of them is the limited partner and its liability depends on the amount of the contribution. He has no management responsibility.

Minimum one is the general partner, and he is responsible for the company’s management.

General partnerships consist of at least two partners whose responsibility is unlimited. The greatest advantage of the O.E in Greece is that there is no minimum capital required.

If stipulated in the agreement, the partners can decide who will be responsible for the management of the partnership and agree how the losses will be covered and the profits will be shared. If the agreement doesn’t contain this information then the partners are equally responsible for the management decision and will share the profits and the losses.

Entrepreneurs may operate in Greece individually either as freelancers (especially professionals such as lawyers, and brokers, etc) or as a business, being fully liable for any and all debts and obligations which may occur.

Our team will help you save time and significant financial resources, as well as diminish possible risks that might occur if the local procedures and deadlines are not followed correctly.

Contact our law office now and receive personalized advice for your business!

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