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Company Formation in Greece

Entity Type: Societe Anonyme


Name Details

Does the name of the company require approval by the Registry or other authorities?

It needs approval by the Chamber of Commerce

How many prospective names will you require?

Minimum is one (1), however if this is not available at the Chamber of Commerce we will need to have at least one more alternative name.

Are there any restrictions or limitations on words that can be used in company names?

A similar name should not be used by another company and should include some words defining the objects of the company

Address Details

Does the company need to provide a registered address?

Yes.

Are there any limitations on the registered address (i.e. must be in-country, must not be a PO box)

It must be a real address in Greece, it cannot be a PO box.

If the client has no physical location incountry, can they use your address for the purposes of registration?

No. The company must find and lease premises.

Officer Details

How many Directors are required?

At least three (3).

Are any other officers required (i.e. Secretary)?

No.

What personal details will you need for each officer?

Name, surname, father’s and mother’s name, place and date of birth, nationality, place of residence, passport nr., tax ID in Greece.

Is there a requirement for any in country resident directors?

For practical reasons, at least the person authorised with the day to day management (usually the Managing Director) should reside in Greece, so that he is able to sign contracts, checks etc.

Do you need proof of address or Identity for officers? If YES, in what format?

No.

Shareholders Details

How many shareholders are required?

At least one (1).

Are there any restrictions on who can be a shareholder?

No.

What information will you require about shareholder?

We will require the shareholders name, address, information on the number and class of shares to be issued to the shareholder.

If it is a natural person we will need the same data as mentioned above (about the directors).

If it is a legal entity we will mainly need its registration nr., its place of address, its authorised signatories. Moreover, usually a good standing certificate, its Articles of Incorporation and a power of attorney authorising someone to execute the deed of incorporation are required by the notary public

Will you require proof of address or ID from the shareholders?

No.

Share Capital

Will the company need to specify a maximum number of shares that can be issued?

No.

Is there a minimum number of shares that can be issued?

The minimum share capital of a societe anonyme is 24,000 Euros.

Is any stamp duty paid on the issued share capital? If YES, at what rate is this calculated.

No.

Other Details

Do you require any further information about the company or its officers?

We will mainly need the details of the first auditors and the term of each financial year (e.g. from 1.1.2017-31.12.2017)

10.  Registering the company at the Chamber of Commerce
11.  Publication of the announcement of incorporation in the Government Gazette

 

Procedure

  1. Receiving all necessary details regarding the company (company’s purpose, directors, auditors etc)
  2. Drafting the Articles of Association
  3. Reserving the company name with the Chamber of Commerce
  4. Gathering all necessary documents (PoAs and lease contracts for the company’s offices)
  5. Signing the Articles of Association before the Notary Public
  6. Issuing a Tax Registration Number for the shareholders and registering them at the competent Social Security Service, if applicable
  7. Registering the company at the General Commercial Registry
  8. Drafting and sending the relevant announcement to the competent Service of the General Commercial Registry
  9. Issuing a Tax Registration Number for the company and the directors and registering them at the competent Social Security Service, if applicable

Timescale

How long will it take to complete incorporation

If all details and above documentation are available it will take two to three weeks approximately.

Is there any way to expedite the incorporation for an extra fee?

No.


Latest version updated 3rd May 2018

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