Official Name: The Hellenic Republic
Athens
Greek
Euro (EUR)
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Greece
Greece is a country located in southeastern Europe, known for its rich history, culture, and contributions to Western civilization. Its history dates back to ancient times, where it was home to one of the most advanced and influential civilizations, the Greeks. The Greek civilization made major contributions to philosophy, literature, art, architecture, and science, and laid the foundations for Western thought and culture.
Greece is also home to some of the most iconic monuments of ancient times, including the Acropolis, the Parthenon, and the Temple of Olympian Zeus, all located in the capital city of Athens. The country has a long and complex history, which has shaped its culture and people. Over the centuries, Greece has been conquered and influenced by various civilizations, including the Romans, Byzantines, Venetians, and Ottomans, each leaving their mark on the country’s cultural and architectural heritage.
In modern times, Greece has undergone significant political, economic, and social changes. It gained independence from the Ottoman Empire in the early 19th century and became a parliamentary democracy. However, in the mid-20th century, Greece was plagued by political instability, military coups, and civil unrest, which led to a period of dictatorship that lasted from 1967 to 1974.
Since the restoration of democracy, Greece has made significant progress in its economy and society. It joined the European Union in 1981 and adopted the Euro as its currency in 2001. Greece’s economy is primarily based on services and tourism, with agriculture and manufacturing also playing important roles. The country has a rich culinary tradition, with dishes such as moussaka, souvlaki, and feta cheese being world-famous.
Greece has a parliamentary democracy, with the President serving as the head of state, and the Prime Minister serving as the head of government. The country’s political landscape has been dominated by two major parties, the center-left PASOK and the center-right New Democracy party. However, in recent years, new parties such as Syriza and Golden Dawn have emerged, challenging the established political order.
Greece’s cultural heritage is also a major attraction for tourists, with its ancient ruins, museums, and vibrant arts scene. Greek music, dance, and theatre have a long history and continue to thrive, with festivals such as the Athens Festival and the Epidaurus Festival showcasing the country’s cultural richness.
In conclusion, Greece is a country with a rich history, culture, and heritage. From its ancient civilization to its modern democratic society, Greece has undergone significant changes, but has always maintained its unique identity and contributions to Western culture. Its economy, politics, and society continue to evolve, but its legacy as a cradle of Western civilization remains strong.
Types of Companies in Greece
Private Limited Liability Company (EPE): This is the most popular form of company in Greece. An EPE is a legal entity that is owned by shareholders and its liability is limited to the amount of capital invested in the company. This type of company requires a minimum of one shareholder and one director. It can be registered with a minimum capital of €1.
Public Limited Liability Company (SA): This is a company whose shares are traded on the Athens Stock Exchange. It requires a minimum of three shareholders and a minimum capital of €25,000.
General Partnership (OE): A partnership is a business where two or more people share ownership and profits. In an OE, each partner is liable for the debts of the partnership. There is no minimum capital required to set up an OE.
Limited Partnership (EPE): In a limited partnership, there are general partners who are responsible for the management of the company and limited partners who are only liable for the amount of capital they have invested. There is no minimum capital required to set up an EPE.
European Company (SE): This is a type of company that can be established in Greece if the business operates in more than one European Union member state. It requires a minimum capital of €120,000.
Societe Anonyme (AE): This is a type of public limited liability company that is commonly used for large corporations. It requires a minimum of seven shareholders and a minimum capital of €60,000.
Advantages of company registration in Greece
Strategic Location: Greece is located at the crossroads of Europe, Asia, and Africa, making it an ideal location for companies looking to expand their business in the region.
Ease of Doing Business: The Greek government has implemented several reforms to simplify the process of doing business in the country, making it easier for companies to register and operate.
Skilled Labor Force: Greece has a highly skilled and educated workforce, with a large pool of professionals in various fields such as IT, engineering, finance, and healthcare.
Favorable Tax System: Greece offers a competitive tax system with relatively low corporate tax rates, making it an attractive destination for businesses.
Access to EU Markets: As a member of the European Union, companies registered in Greece can access the EU’s single market of over 500 million consumers without any restrictions.
Infrastructure: Greece has a well-developed infrastructure including modern airports, seaports, highways, and telecommunications network, making it easy to transport goods and communicate with the rest of the world.
Natural Resources: Greece is blessed with a rich natural resource base, including minerals, oil and gas, and arable land, which can be leveraged by companies in various industries.
“Our team can provide assistance if you need help registering a company in Greece”
Common questions
What are the types of companies I can set up in Greece?
The types of companies that can be set up in Greece include sole proprietorship, partnership, limited liability company, joint stock company, and branch office.
What are the requirements to set up a company in Greece?
The requirements to set up a company in Greece include choosing a business name, registering the company with the Greek Commercial Register, obtaining a tax identification number, opening a bank account, and obtaining any necessary permits or licenses.
What is the minimum share capital required to set up a company in Greece?
The minimum share capital required to set up a company in Greece depends on the type of company. For a limited liability company, the minimum share capital is €1, while for a joint-stock company, it is €25,000.
Can a foreigner set up a company in Greece?
Yes, a foreigner can set up a company in Greece. However, there are some restrictions and additional requirements for non-EU citizens.
What is the process for registering a company in Greece?
The process for registering a company in Greece involves choosing a business name, drafting the Articles of Association, registering the company with the Greek Commercial Register, obtaining a tax identification number, opening a bank account, and obtaining any necessary permits or licenses.
Do I need a lawyer or accountant to set up a company in Greece?
While it is not required to hire a lawyer or accountant to set up a company in Greece, it is recommended to seek professional advice to ensure compliance with all legal and tax requirements.
What are the tax implications of setting up a company in Greece?
The tax implications of setting up a company in Greece depend on the type of company and the business activities. The corporate tax rate is currently 24%, and additional taxes may apply, such as value-added tax (VAT) and social security contributions.
What are the requirements for a company’s Articles of Association in Greece?
The Articles of Association for a company in Greece should include information such as the company’s name, objectives, share capital, shareholders, board of directors, and any other relevant information required by law.
Can I set up a company in Greece without being present in the country?
Yes, it is possible to set up a company in Greece without being present in the country. However, it is recommended to appoint a representative in Greece to handle any necessary paperwork and legal procedures.
What is the difference between a limited liability company and a joint-stock company in Greece?
The main difference between a limited liability company and a joint-stock company in Greece is the minimum share capital required. A limited liability company requires a minimum share capital of €1, while a joint-stock company requires a minimum share capital of €25,000.
How long does it take to set up a company in Greece?
The time required to set up a company in Greece depends on various factors such as the type of company, the complexity of the business activities, and the efficiency of the registration process. It can take anywhere from a few days to several weeks.
What are the costs associated with setting up a company in Greece?
The costs associated with setting up a company in Greece include registration fees, legal and accounting fees, notary fees, and any other necessary expenses such as permits or licenses.
Can I change the name of my company in Greece after registration?
Yes, it is possible to change the name of a company in Greece after registration, but it requires approval from the Greek Commercial Register and notification of any relevant authorities.
Do I need to have a physical address in Greece to set up a company?
Yes, you will need to have a physical address in Greece to register your company.
Can I set up an online company in Greece?
Yes, you can set up an online company in Greece. You will still need to follow the registration process and meet all the legal requirements.
How do I register for VAT in Greece?
You can register for VAT in Greece by completing the appropriate forms and submitting them to the tax authorities. You will need to provide details about your company and its activities.
What are the requirements for employees in a company in Greece?
As an employer in Greece, you will need to comply with a range of employment laws and regulations. These include providing a written employment contract, paying social security contributions, and providing certain benefits and protections to your employees.
How do I obtain a business license in Greece?
The requirements for obtaining a business license in Greece will depend on the type of business you are setting up. You may need to apply for a specific license or permit, depending on the nature of your business activities.
What are the annual compliance requirements for companies in Greece?
Companies in Greece are required to file annual financial statements and tax returns with the tax authorities. You may also need to hold annual general meetings and maintain certain records and registers.
Can I have a foreign director in my company in Greece?
Yes, you can have a foreign director in your company in Greece. However, you will need to comply with the relevant immigration and residency requirements.
What is the role of a company secretary in Greece?
A company secretary in Greece is responsible for maintaining the company’s statutory records, ensuring compliance with legal requirements, and providing support to the board of directors.
How do I open a bank account for my company in Greece?
To open a bank account for your company in Greece, you will need to provide certain documents and information to the bank. This may include your company registration documents, identification documents for the account signatories, and proof of address.
Do I need to register my trademark in Greece?
While registration of a trademark is not mandatory in Greece, it is recommended to protect your brand and prevent others from using it without your permission.
What is the process for liquidating a company in Greece?
The process for liquidating a company in Greece will depend on the type of company and the reason for the liquidation. Generally, the process will involve appointing a liquidator, settling any outstanding debts, and distributing the remaining assets to the shareholders.
What is the difference between a public and private limited company in Greece?
In Greece, the main difference between a public and private limited company is that a public limited company can offer shares to the public and is subject to greater regulatory oversight.
Can I have multiple shareholders in my company in Greece?
Yes, you can have multiple shareholders in your company in Greece.
What is the difference between an executive and non-executive director in Greece?
An executive director in Greece is typically involved in the day-to-day management of the company, while a non-executive director provides independent oversight and guidance to the board of directors.
Do I need to have a board of directors for my company in Greece?
The requirement to have a board of directors will depend on the type of company you are setting up. In general, larger companies are required to have a board of directors in Greece.
What is the liability of directors in a company in Greece?
Directors in a company in Greece may be held personally liable for any losses or damages caused to the company or its shareholders as a result of their actions or decisions.
What is the role of an auditor in a company in Greece?
An auditor in a company in Greece is responsible for reviewing the company’s financial statements and ensuring compliance with accounting and reporting standards.
How do I file annual tax returns for my company in Greece?
To file your annual tax returns in Greece, you must complete the relevant forms and submit them to the appropriate tax office. You will need to include information about your company’s income and expenses for the year, as well as any taxes withheld on behalf of employees. It is recommended that you seek the assistance of a qualified accountant to ensure that your tax returns are completed correctly.
What are the penalties for non-compliance with company registration requirements in Greece?
Penalties for non-compliance with company registration requirements in Greece can range from fines to imprisonment, depending on the severity of the offense. Failure to register your company can result in fines, while providing false information during the registration process can lead to criminal charges. It is important to ensure that you comply with all registration requirements to avoid these penalties.
What is the social security system for employees in Greece?
The social security system for employees in Greece is managed by the Social Insurance Institute (IKA). Employers and employees are required to make contributions to the system, which provides various benefits including healthcare, retirement pensions, and disability benefits. The amount of contributions required depends on the employee’s salary and the type of work they are engaged in.
Can I hire non-EU employees in my company in Greece?
Yes, it is possible to hire non-EU employees in your company in Greece. However, you will need to obtain a work permit for them before they can start working for you. This involves demonstrating that there are no suitable Greek or EU candidates for the position, as well as meeting other requirements set by the Greek government.
What are the rules regarding transferring money out of Greece for my company?
There are no restrictions on transferring money out of Greece for legitimate business purposes. However, you may need to provide documentation to support the transfer, such as invoices or contracts. It is important to comply with all relevant regulations to avoid any issues with the Greek authorities.
What are the rules regarding importing and exporting goods for my company in Greece?
Importing and exporting goods in Greece is subject to various regulations, depending on the type of product and the country of origin/destination. You may need to obtain licenses or permits, comply with customs procedures, and pay import/export duties. It is recommended that you seek advice from a qualified customs broker or freight forwarder to ensure that you comply with all relevant regulations.
Can I have a virtual office in Greece?
Yes, it is possible to have a virtual office in Greece. This allows you to have a presence in Greece without actually renting physical office space. You can use a virtual office to receive mail and phone calls, as well as to register your company’s address.
How do I apply for a business visa in Greece?
To apply for a business visa in Greece, you will need to complete the relevant application form and provide supporting documents such as a passport, business plan, and proof of financial resources. You may also need to attend an interview at the Greek embassy or consulate in your home country.
What is the procedure for obtaining a work permit in Greece?
The procedure for obtaining a work permit in Greece involves submitting an application to the Greek embassy or consulate in your home country. You will need to provide information about your qualifications, work experience, and the position you will be filling in Greece. You may also need to provide a medical certificate and a police clearance certificate.
Can I set up a company as a sole trader in Greece?
Yes, it is possible to set up a company as a sole trader in Greece. This involves registering as a self-employed person with the relevant authorities, and obtaining any necessary licenses or permits for your business.
What is the process for registering a partnership in Greece?
To register a partnership in Greece, you will need to submit the necessary documents to the General Commercial Registry (GEMI) and pay the relevant fees. The required documents typically include the partnership agreement, the partners’ personal information, and proof of payment of the share capital.
What are the requirements for a company’s accounting records in Greece?
Companies in Greece are required to keep detailed accounting records, including a general ledger, trial balance, and financial statements. The records must be kept in Greek and must comply with the International Financial Reporting Standards (IFRS).
Can I register a company for the purpose of buying property in Greece?
Yes, it is possible to register a company in Greece for the purpose of buying property. This can be beneficial for tax and liability purposes.
How do I register a company in Greece for the purpose of buying shares?
To register a company in Greece for the purpose of buying shares, you will need to follow the standard company registration process and include the relevant activities in your company’s articles of association.
What are the legal requirements for issuing shares in a company in Greece?
The legal requirements for issuing shares in a company in Greece include having a minimum share capital, issuing shares at face value, and ensuring that the number of shares issued does not exceed the company’s authorized share capital.
What is the difference between authorized and issued share capital in Greece?
Authorized share capital refers to the maximum number of shares that a company can issue, while issued share capital is the actual number of shares that have been issued by the company.
Can I change the share capital of my company in Greece?
Yes, it is possible to change the share capital of a company in Greece. This requires a resolution from the company’s general meeting of shareholders and the necessary changes to be made to the company’s articles of association.
How do I transfer shares in a company in Greece?
The transfer of shares in a company in Greece requires a written agreement between the buyer and seller and must be registered with the company’s share register. The transfer must also be reported to the General Commercial Registry.
Documents required to register a company
Articles of Association: This is a legal document that sets out the company’s name, registered office address, the purpose of the company, share capital, and the rights and obligations of the shareholders.
Identification documents of the founders: A copy of the founders’ passports or national ID cards is typically required.
Proof of address: The company must provide proof of its registered address, such as a lease agreement or a utility bill.
Tax Identification Number (TIN): All company founders must have a TIN, which is obtained from the Greek tax authorities.
Bank certificate: The company must provide a certificate from a Greek bank confirming that the initial share capital has been deposited in a bank account in the company’s name.
Appointment of a legal representative: If none of the founders are Greek residents, they must appoint a legal representative who is a Greek resident and can represent the company in legal matters.
Business license: Depending on the type of business, a business license may be required.
Major Banks in Greece
National Bank of Greece (NBG) – https://www.nbg.gr/en/
Advantages: The largest and oldest bank in Greece, offering a wide range of banking and financial services to individuals and businesses.
Alpha Bank – https://www.alpha.gr/en/
Advantages: One of the largest banks in Greece, offering a variety of banking and financial products and services, including loans, savings accounts, credit cards, and insurance.
Piraeus Bank – https://www.piraeusbank.gr/en/
Advantages: One of the largest banks in Greece, offering a variety of banking and financial products and services, including corporate banking, investment banking, asset management, and insurance.
Eurobank – https://www.eurobank.gr/en/
Advantages: One of the largest banks in Greece, offering a wide range of financial services, including retail banking, private banking, asset management, and investment banking.
Attica Bank – https://www.atticabank.gr/en/
Advantages: A smaller bank in Greece that focuses on providing personalized banking services to individuals and small businesses, including loans, savings accounts, and credit cards.
“Our team can provide assistance if you need to open a bank account in Greece”
The top universities in Greece
National and Kapodistrian University of Athens
Website: https://en.uoa.gr/
Location: Athens
Major Courses: Medicine, Law, History, Philology, Philosophy
Aristotle University of Thessaloniki
Website: https://www.auth.gr/en
Location: Thessaloniki
Major Courses: Medicine, Law, Agriculture, Philosophy, Education
University of Crete
Website: https://www.uoc.gr/
Location: Heraklion
Major Courses: Medicine, Computer Science, Mathematics, Physics, Biology
Technical University of Crete
Website: https://www.tuc.gr/index.php?id=2&L=1
Location: Chania
Major Courses: Architecture, Civil Engineering, Electrical Engineering, Environmental Engineering, Mechanical Engineering
University of Ioannina
Website: https://www.uoi.gr/en/
Location: Ioannina
Major Courses: Medicine, Philosophy, Education, Physics, Mathematics
Athens University of Economics and Business
Website: https://www.aueb.gr/en
Location: Athens
Major Courses: Economics, Business, Management, Accounting, Finance
University of Patras
Website: https://www.upatras.gr/en
Location: Patras
Major Courses: Engineering, Medicine, Natural Sciences, Social Sciences, Humanities
Democritus University of Thrace
Website: https://www.duth.gr/en/
Location: Komotini
Major Courses: Medicine, Law, Engineering, Economics, Education
Panteion University of Social and Political Sciences
Website: https://www.panteion.gr/en/
Location: Athens
Major Courses: Political Science, International Relations, Sociology, Public Administration, Psychology
University of Thessaly
Website: https://www.uth.gr/en
Location: Volos
Major Courses: Agriculture, Veterinary Medicine, Engineering, Humanities, Social Sciences
“If you need assistance registering for college or university, our team is here to help.”
Strange or unusual to visitors in Greece
The concept of “Greek time”: Greeks tend to be more relaxed about timekeeping and punctuality, so it’s not uncommon for meetings or events to start a little later than scheduled.
Smoking: Smoking is still quite common in Greece, and it is allowed in some public places such as cafes and bars.
Opa!: Visitors might hear Greeks shouting “opa!” while breaking plates or dancing, which is a traditional way of expressing joy and excitement.
Siesta: It is a common practice in Greece to take a break in the middle of the day, usually between 2 pm and 5 pm, to avoid the hottest part of the day.
Greek coffee: Greek coffee is quite different from what most visitors are used to. It is typically served in a small cup and is very strong and bitter.
Public displays of affection: Greeks are generally more open and expressive about their emotions, including physical affection in public.
Greek Orthodox religion: Religion is an important part of Greek culture, and visitors may encounter religious festivals, ceremonies, and traditions throughout the country.
Political graffiti: Graffiti is quite common in Greece, and visitors may see political messages and slogans painted on buildings and walls.
Greek bureaucracy: Visitors may find that bureaucracy and paperwork can be more time-consuming and complex than they are used to.
Tipping: Tipping is not mandatory in Greece, but it is appreciated for good service in restaurants and cafes.
“Tips for Newcomers: Adjusting to Life in Greece ”
Learn the language: While many Greeks speak English, it’s important to learn some Greek to better communicate with locals and fully immerse yourself in the culture.
Embrace the culture: Greece has a rich culture and history, and embracing it can make your experience in Greece more rewarding. Attend festivals and cultural events, and try traditional foods.
Be patient: Adjusting to a new country takes time. Be patient with yourself and the process.
Make friends: One of the best ways to adjust to a new country is to make friends with locals and other expats. Join clubs, take classes, or volunteer to meet people.
Get out and explore: Greece is full of beautiful beaches, historical landmarks, and charming villages. Take advantage of your time in Greece and explore as much as you can.
Be aware of the bureaucracy: Greece can have a lot of bureaucratic processes, especially when it comes to official paperwork. Be prepared to wait in lines and fill out forms.
Respect local customs: Greeks have their own customs and way of life. Respect their traditions and way of doing things.
Stay positive: Adjusting to a new country can be challenging, but try to stay positive and focus on the things you enjoy about Greece.
Get involved: Join a local organization, volunteer or get involved with a community group to help you feel more connected to your new home.
Seek support: If you’re feeling overwhelmed, homesick or just need some advice, don’t be afraid to seek support from friends, family, or local resources like expat groups or counselors.
Top recruitment agencies in Greece
Adecco Greece: https://www.adecco.gr/
Randstad Greece: https://www.randstad.gr/
Kariera.gr: https://www.kariera.gr/
CareerBuilder Greece: https://www.careerbuilder.gr/
Manpower Greece: https://www.manpower.gr/
Quest: https://www.quest.gr/
Synergie Greece: https://www.synergie.gr/
StaffMatters Recruitment: https://www.staffmattersrecruitment.com/
Source: https://www.source.gr/
Workathlon: https://workathlon.com/
Necessary phone numbers in Greece
Police Emergency Number: 100
Fire Department Emergency Number: 199
Ambulance and Medical Emergencies: 166
Tourist Police: 171
Greek National Tourism Organization: +30 210 8707000
Athens International Airport: +30 210 3530000
Piraeus Port Authority: +30 210 4550000
Hellenic Railways Organization: 1110
Athens Urban Transport Organization (OASA): +30 210 8200999
Greek National Road Assistance Service: 10400
The best way to immigrate to Greece
Investment: One way to obtain a residence permit in Greece is by investing in the country. The minimum investment required is €250,000 in real estate or a business.
Work permit: If you have a job offer in Greece, your employer can apply for a work permit on your behalf.
Study: If you enroll in a full-time course at a Greek university, you can obtain a student visa that allows you to live in Greece for the duration of your studies.
Family reunification: If you have a family member who is a Greek citizen or a permanent resident of Greece, you can apply for a family reunification visa.
Golden Visa: If you are a non-EU citizen, you can obtain a residence permit by investing at least €250,000 in real estate in Greece.
International Language Center in Greece
Hellenic American Union: This language center is located in Athens and offers a variety of English language courses, as well as courses in other languages such as French, German, Spanish, and Italian.
British Council Greece: This language center is located in Athens and offers English language courses for all levels, as well as exam preparation courses for international English language exams such as IELTS and Cambridge exams.
Goethe-Institut Athen: This language center is located in Athens and offers German language courses for all levels, as well as cultural events and activities related to German language and culture.
Instituto Cervantes de Atenas: This language center is located in Athens and offers Spanish language courses for all levels, as well as cultural events and activities related to Spanish language and culture.
French Institute of Greece: This language center is located in Athens and offers French language courses for all levels, as well as cultural events and activities related to French language and culture.
Athens Centre: This language center is located in Athens and offers a variety of language courses, including English, Greek, French, Italian, and Spanish.
