--- canonical: "https://euincnow.com/company-formation-greece" dateModified: "2026-10-11" --- # Company Formation in Greece: Types, Taxes and Costs Forming a company in Greece takes about one to two weeks for the popular IKE (a private company) when filed digitally through the Gov.gr portal and the GEMI registry, with a realistic end-to-end timeline of two to four weeks once a tax number (AFM) and a bank account are added. The IKE needs as little as EUR 1 in capital and allows a single member. Greece levies a flat 22% corporate income tax, a 24% standard VAT and a 5% dividend withholding tax, and permits 100% foreign ownership with no resident-director requirement. ## Greece at a glance - Greece is an EU member state with its own national company forms and registration rules. Compare company types, capital, tax, timing and signing requirements before you choose. The proposed 28th Regime (EU Inc) is a separate option that is not available yet. ### Company types in Greece - IKE (Idiotiki Kefalaiouchiki Etaireia) The most popular form for founders, the Greek equivalent of an LLC. Limited liability, capital from EUR 1, single-member allowed, and fully online formation via the Gov.gr portal with no notary. - EPE (limited liability company) The older, more formal LLC form. Capital is set freely in the statute since the 2012 reform; a notarial deed is often required. - AE (societe anonyme) For larger firms or those raising institutional capital. EUR 25,000 minimum capital fully paid up, with a board and a notarised statute. * Company formation in Greece: key facts (last reviewed July 2026) - Corporate tax A flat 22% corporate income tax on company profits. Credit institutions are taxed at 29%. Distributed dividends carry a separate 5% withholding tax. There are no municipal or local income taxes. - VAT rate Standard VAT is 24%, with reduced rates of 13% and 6% on items such as food, pharmaceuticals and books. Certain remote Aegean islands receive a 30% reduction. - Dividends & payroll taxes Dividends carry a 5% withholding, one of the lowest in the EU. Personal income tax climbs to 44%, and employer social contributions add about 22% on salaries. Real-time myDATA reporting keeps the whole picture visible to the tax authority. - Minimum share capital IKE: from EUR 1, set freely (single member allowed). EPE: no binding statutory minimum since the 2012 reform. AE: EUR 25,000 minimum, fully paid up before registration. - Setup time An IKE filed digitally through Gov.gr and the GEMI registry can be completed in about 1 to 2 weeks when documents are ready; a realistic end-to-end timeline including a tax number (AFM), bank account and VAT registration is roughly 2 to 4 weeks. - Remote setup Partial. IKE incorporation is fully online via the Gov.gr portal. EU nationals can get the AFM tax number remotely; non-EU founders incorporate by granting a notarised power of attorney to a Greek lawyer. Opening the bank account and depositing capital usually needs in-person verification. - Director / residency No residency requirement and 100% foreign ownership is permitted. Every founder needs a Greek tax number (AFM), and non-EU founders must appoint a local tax representative. A residence permit is only needed to live in Greece, not to own from abroad. - Banking options Corporate accounts are opened at the main Greek banks (National Bank of Greece, Piraeus, Alpha, Eurobank), typically in 1 to 3 weeks with in-person checks. Fintechs such as Wise and Revolut Business are widely used, but the share-capital deposit must go into a Greek account. * The IKE dominates foreign company formation: EUR 1 capital, single-member option and no-notary online setup via Gov.gr. myDATA e-invoicing with the tax authority is mandatory from day one. Greece offers full EU single-market access and residency routes including the Golden Visa and digital-nomad permits. ## How to register a company in Greece - Step by step, this is how a Greece formation actually runs: 1. **Choose the IKE.** The IKE (private company) is the founder vehicle: EUR 1 capital, flexible governance and no notary for the standard form. 2. **Get Greek tax numbers.** Founders need a Greek AFM (tax number); non-residents obtain it through a representative. 3. **Incorporate via Gov.gr e-YMS.** The one-stop digital service registers a standard IKE in about a day once identities are verified; custom articles go through the notarial route instead. 4. **GEMI registration and activity start.** The company enters the GEMI business registry and declares the start of activity with the tax authority. 5. **Open banking.** Corporate accounts at the four systemic banks typically take 1 to 3 weeks with in-person or representative-led KYC. ## What company formation in Greece costs - The e-YMS one-stop fee is small, a few tens of euros for a standard IKE. Budget instead for the AFM process and a local accountant: getting tax numbers and representation for non-resident founders commonly costs EUR 200 to 500, and monthly accounting runs EUR 80 to 200. GEMI charges small annual registry fees. ## Who can form a company in Greece - Check ownership eligibility separately from director, local-address and licensing requirements. Permission to own shares does not automatically give you permission to live or work in Greece. The director and residency information above identifies the main formation conditions to review. - Greece fits founders operating or hiring in Greece and anyone wanting a genuine EUR 1 EU company with online setup. The real-time myDATA reporting and AFM prerequisites add friction for fully remote non-EU founders, so it shines most when there is a real Greek connection. ## After registration: what Greece expects each year - Annual financial statements are filed with GEMI and the corporate income tax return is due by roughly mid-year for calendar-year companies. VAT returns are quarterly for most small companies, and myDATA e-books mean invoices are reported to the tax authority in near real time, which makes a Greek accountant essential. ## Greece and the 28th Regime (EU Inc) - EU Inc, the proposed 28th Regime, would add a harmonised company form in EU member states. Registration is not open and no launch date is confirmed. A national company in Greece is available under existing rules, but a later EU Inc conversion would depend on the adopted law and eligibility. Read how to prepare an EU Inc company, or compare current options in company formation in Europe. ## Sources and review scope - Use the linked registries, authorities and specialist references to check the requirements for your company. A review of formation costs and filings does not replace a review of your tax position. - No separate topic-level check date is recorded for this profile. Confirm the current requirements with the linked authority before proceeding. ### Reference links - [taxsummaries.pwc.com][1] - [gov.gr][2] ## Frequently asked questions ### Can a foreigner open a company in Greece? - No residency requirement and 100% foreign ownership is permitted. Every founder needs a Greek tax number (AFM), and non-EU founders must appoint a local tax representative. A residence permit is only needed to live in Greece, not to own from abroad. ### How long does company formation in Greece take? - An IKE filed digitally through Gov.gr and the GEMI registry can be completed in about 1 to 2 weeks when documents are ready; a realistic end-to-end timeline including a tax number (AFM), bank account and VAT registration is roughly 2 to 4 weeks. ### What corporate tax does a company in Greece pay? - The headline summary is 22%, with standard VAT of 24%. Company form, activity, size and where the business operates can change the treatment. Read the detailed tax information and confirm the rules for your case. ### Can I form a company in Greece remotely? - Partial. IKE incorporation is fully online via the Gov.gr portal. EU nationals can get the AFM tax number remotely; non-EU founders incorporate by granting a notarised power of attorney to a Greek lawyer. Opening the bank account and depositing capital usually needs in-person verification. ## Source URLs [1]: https://taxsummaries.pwc.com/greece/corporate/taxes-on-corporate-income [2]: https://www.gov.gr/en/sdg/starting-running-and-closing-business/registering-changing-legal-form-of-or-closing-business/general/how-to-start-business-in-greece/