22%
Flat corporate income tax — competitive within Southern Europe and above the GILTI high-tax exclusion threshold for US owners
€0
Minimum share capital for an IKE Private Company — Greece's modern company structure requires no minimum capital contribution
€10k
VAT registration threshold — one of the lowest in the EU; most Greek companies should plan for VAT registration from the first transaction
Why Americans Register Companies in Greece
Greece's proposition has shifted meaningfully over the past decade. The country has emerged from its sovereign debt crisis with a modernised business registration framework (including the GEMI online registry and the new IKE company form), a growing tech and startup ecosystem centred on Athens, and a government actively courting foreign direct investment through incentives, tax breaks for new residents, and one of the EU's most competitive Golden Visa programmes. Greece now offers something genuinely rare: a fully functioning EU Eurozone business environment at a fraction of the operating cost of Western Europe.
For Americans, Greece's combination of a 22% flat corporate tax, no minimum capital requirement for an IKE, low operating costs, and a strategic location connecting Europe with the Eastern Mediterranean and Middle East creates a compelling commercial case — particularly for services businesses, tourism and hospitality, real estate, shipping, and technology companies. Athens has developed a legitimate startup ecosystem, and sectors including fintech, logistics technology, and digital media have grown considerably. The country's position as a NATO member with strong ties to the US adds further political and security stability.
Business StructuresWhich Entity Type Is Right for You?
Greece offers several business structures. The IKE (Ιδιωτική Κεφαλαιουχική Εταιρεία — Private Company) — introduced in 2012 as a modernised alternative to the EPE — is now the preferred structure for most foreign entrepreneurs and American business owners. Its no-minimum-capital requirement and simplified governance make it the most accessible and flexible option.
Most Flexible★ Recommended for Americans
Private Company
IKE — Ιδιωτική Κεφαλαιουχική Εταιρεία
Greece's modern company form — introduced in 2012 specifically to offer a more flexible and accessible alternative to the EPE. No minimum share capital required. Simplified governance with a single managing director or a board. Can be formed with a single shareholder. Increasingly the default structure for startups, tech companies, and foreign entrepreneurs registering in Greece.
Traditional LLC
Limited Liability Company
EPE — Εταιρεία Περιορισμένης Ευθύνης
Greece's traditional limited liability company — widely used before the IKE was introduced and still common, particularly for joint ventures with Greek partners and in sectors where the EPE is more familiar to local banks and counterparties. Requires a minimum share capital of €4,500 and at least one managing partner. More structured than the IKE but equally well-recognised.
Larger Businesses
Public Limited Company
AE — Ανώνυμη Εταιρεία
For larger businesses seeking institutional investment or a public listing on the Athens Stock Exchange. Complex governance requirements including a mandatory board of directors. Requires a minimum share capital of €25,000. Not suitable for most initial foreign registrations — the IKE or EPE is the correct structure for the vast majority of American-owned companies in Greece.
Sole Traders
Sole Proprietorship
Ατομική Επιχείρηση
For individuals operating as freelancers or sole traders. The owner bears unlimited personal liability for all business obligations. Simpler to register than an IKE but provides no liability protection. Typically requires Greek residency for non-EU nationals and is generally unsuitable for non-resident Americans — the IKE provides equivalent simplicity with the critical benefit of limited liability.
Greece's Corporate Tax Structure
Greece applies a flat 22% corporate income tax to the taxable profits of Greek tax-resident companies — a rate that has been reduced significantly from the 29% level that applied in the mid-2010s and is now competitive within Southern Europe. Combined with a 5% dividend withholding tax for non-resident shareholders (reduced under bilateral treaties), Greece's total tax burden on corporate profits is manageable for international business owners.
Greek Corporate Tax — Key Numbers
Greece Tax Framework
22%
Flat corporate income tax — significantly reduced from 29% over the past decade; applied to all taxable profits
5%
Dividend withholding tax — applied to distributions to non-resident shareholders; one of the lowest in the EU
24%
Standard VAT rate (ΦΠΑ) — with reduced rates of 13% and 6%; mandatory registration when annual turnover exceeds €10,000
Greece has been a Eurozone member since 2001 — the euro is the official currency. Greece has a double taxation treaty with the United States, providing relief on withholding taxes for dividends, interest, and royalties paid to US shareholders. The treaty reduces Greek dividend withholding to 0% in specific circumstances where the US shareholder holds at least 25% of the Greek company. Greece's participation exemption generally exempts qualifying dividends received from EU subsidiaries from Greek corporate tax. All companies must register with AADE (the Independent Authority for Public Revenue) and maintain accounting records in accordance with Greek accounting standards (ESYP).
⚠️ US Tax Obligations Apply to Greek Company Owners
US citizens and Green Card holders are taxed by the United States on worldwide income regardless of where their business is incorporated. Owning a Greek IKE or EPE creates US filing obligations — including FBAR reporting for Greek bank accounts over $10,000, Controlled Foreign Corporation (CFC) reporting, and GILTI (Global Intangible Low-Taxed Income) provisions. At 22%, Greece's corporate tax rate is above the GILTI high-tax exclusion threshold of 18.9%, meaning Greek company profits are likely to qualify for the GILTI high-tax exclusion — potentially eliminating the additional US tax layer on undistributed Greek profits. The US-Greece treaty provides additional withholding tax relief. Confirm treatment with a US-qualified cross-border tax advisor before incorporating.
How to Register a Company in Greece
Registering an IKE in Greece involves obtaining a Greek Tax Identification Number (AFM), notarizing the Articles of Association, registering with the General Commercial Registry (GEMI), and completing tax and social security registrations. The process typically takes 5 to 10 business days once all documents are correctly prepared. Greece has significantly improved its e-registration infrastructure through the GEMI online portal, making submission faster than in previous years.
1
Choose Your Business Structure
For most foreign entrepreneurs and Americans, the IKE is the recommended choice — no minimum capital, maximum governance flexibility, and a modernised legal framework designed for international businesses. The EPE remains valid and may be preferred in sectors where Greek banks or partners have greater familiarity with the traditional structure. Confirm the appropriate structure with a Greek corporate attorney before proceeding, particularly for regulated sectors such as financial services, healthcare, or food production.
Decision
2
Obtain a Greek Tax Identification Number (AFM)
All founders — whether Greek residents or foreigners — must obtain a Greek Tax Identification Number (Αριθμός Φορολογικού Μητρώου — AFM) before company registration can proceed. For non-residents, the AFM is obtained in person at a Greek tax office (AADE — Ανεξάρτητη Αρχή Δημοσίων Εσόδων) or through a Greek representative holding a notarized power of attorney. The AFM is required for all subsequent registration steps — it is the first and most critical step for non-resident American founders, similar to Croatia's OIB requirement.
Required first step
3
Choose and Check Your Company Name
The company name must be unique within the General Commercial Registry (GEMI — Γενικό Εμπορικό Μητρώο) and must comply with Greek naming regulations. Name availability can be checked through the GEMI online portal (gemi.gov.gr) before filing. The name must include the entity type designation (e.g., "IKE" or "ΙΚΕ" for a Private Company, "EPE" or "ΕΠΕ" for a Limited Liability Company). Names can be in Greek or Latin characters.
GEMI check online
4
Draft and Notarize the Articles of Association (Καταστατικό)
Prepare the Articles of Association (Καταστατικό) — the founding document outlining the company's name, registered address, business purpose, capital structure, and governance rules — and have them notarized by a Greek notary public (Συμβολαιογράφος). Notarization is required for both IKE and EPE formation. All documents must be in Greek. Non-residents who cannot attend in person can grant a notarized, apostilled power of attorney to a Greek representative to sign on their behalf. The notary then submits the registration to GEMI electronically.
Notarization required — in Greek
5
Open a Corporate Bank Account and Deposit Capital (if applicable)
Open a corporate bank account with a Greek bank. For an IKE with no minimum capital requirement, no capital deposit certificate is needed before registration. For an EPE, a bank confirmation of the €4,500 minimum capital deposit must be included with the GEMI application. Greek banks apply AML due diligence to new accounts for non-resident founders — prepare thorough documentation on ownership structure, source of funds, and business purpose. Some non-resident founders use fintech business accounts initially while establishing a traditional Greek banking relationship.
Banking
6
Register with GEMI (General Commercial Registry)
The notary submits the registration application to the General Commercial Registry (GEMI) electronically as part of the notarization process. GEMI processes the application and issues a GEMI registration number (Αριθμός ΓΕΜΗ) — the company's unique commercial identifier. The registration is published in the Government Gazette (Εφημερίδα της Κυβερνήσεως) and in GEMI's public register. Once registered, the company receives legal existence. Standard processing takes 5 to 10 business days.
5–10 business days
7
Register for Tax and VAT with AADE
After GEMI registration, register the company with the Independent Authority for Public Revenue (AADE) for corporate income tax purposes and obtain the company's own AFM (distinct from the founders' personal AFMs). If your expected annual taxable turnover will exceed €10,000, register for VAT (ΦΠΑ — Φόρος Προστιθέμενης Αξίας) at the same time. Given the very low threshold, most Greek companies should register for VAT from the outset. The standard VAT rate is 24%, with reduced rates of 13% (food, hotels, transport) and 6% (books, medicines, newspapers).
Post-GEMI registration
8
Register with EFKA (Social Insurance) if Hiring
If your company will hire employees in Greece, register with EFKA (Ενιαίος Φορέας Κοινωνικής Ασφάλισης — the unified social insurance body). Greek employer social contributions are significant — covering health, pension, and other insurance. Employment contracts must comply with the Greek Labour Code. Note that even owner-directors of Greek companies who are actively working in the business may be required to contribute to EFKA as self-employed professionals — Greek social security obligations for company directors are specific and should be clarified with a Greek accountant from the outset.
If hiring or active director
What Does It Cost to Register a Company in Greece?
Greece offers accessible formation costs — particularly for an IKE where no minimum capital is required. Notarization is mandatory and represents the primary state fee, but Greek notary costs are reasonable by EU standards. Ongoing professional costs are competitive, reflecting Greece's lower professional services pricing relative to Western Europe.
| Cost Item | Notes | Est. Amount |
|---|---|---|
| Notary fees | Mandatory notarization of Articles of Association. Regulated; scales with share capital declared. Lower for IKE than EPE or AE. | €200–€600 |
| GEMI registration fee | Government fee for entry into the General Commercial Registry. Includes Government Gazette publication. | €50–€130 |
| Share capital (IKE) | No statutory minimum for an IKE. A nominal amount (€1–€1,000) is typically declared for practical and credibility purposes. | From €1 |
| Registered office address | Every Greek company requires a local registered address. Virtual office and registered address services are available in Athens, Thessaloniki, and island locations. | €300–€800/yr |
| Legal & advisory fees | Greek attorney assistance with AFM procurement, Articles of Association drafting, and GEMI submission. Essential for non-Greek-speaking non-resident founders. | €600–€1,800 |
| Accounting & annual compliance | Annual financial statements and tax returns mandatory. Greek accountancy fees are among the most competitive in the EU. | €600–€2,000/yr |
Post-Registration Requirements
Greek companies face standard EU-level ongoing compliance obligations. Annual financial reporting is mandatory, and Greece's tax authority (AADE) has significantly improved its digital infrastructure through the myAADE portal, making many compliance tasks manageable online. Professional accounting support is strongly recommended for non-resident owners.
Annual Financial Statements & Tax Returns
All Greek companies must prepare annual financial statements in accordance with Greek accounting standards (ESYP — Ελληνικά Λογιστικά Πρότυπα) and file corporate income tax returns with AADE through the myAADE online portal. Annual financial statements must also be filed with GEMI and are publicly accessible. The corporate income tax return deadline is typically six months after the close of the financial year.
Corporate Governance — Managing Director
An IKE must have at least one managing director (Διαχειριστής) who is registered with GEMI. The managing director can be a foreign national and is not required to reside in Greece. Changes to the managing director must be filed with GEMI and published in the Government Gazette. The managing director bears personal responsibility for the company's legal and tax compliance.
Accounting Records — ESYP Standards
Greek companies must maintain accounting records in accordance with Greek accounting standards (ESYP), introduced in 2014 as a modernised framework. A statutory audit is required for companies exceeding two of the following thresholds in two consecutive years: annual turnover above €4M, total assets above €2M, or more than 50 employees. Smaller companies are generally exempt from mandatory audit.
Beneficial Ownership Register (GEMI)
Greece maintains a beneficial ownership register through GEMI in line with EU AML directives. All companies must register and keep current information on their ultimate beneficial owners — individuals owning or controlling more than 25% of the company. Beneficial ownership information is filed with GEMI and must be updated within 60 days of any change in ownership structure.
What Americans Should Know Before Registering in Greece
The AFM requirement is the step that catches most non-resident founders first
Just like Croatia requires an OIB before registration, Greece requires every founder to obtain a personal Greek Tax Identification Number (AFM) before any company registration can proceed. For non-residents, this means either an in-person visit to a Greek AADE tax office or appointing a Greek attorney with notarized power of attorney to obtain it on your behalf. The AFM process itself is straightforward once the power of attorney mechanism is in place — but it is a step that adds time and must be resolved before anything else. Your Greek attorney should handle this as part of the formation engagement.
The IKE is genuinely flexible — but bank credibility may require a higher declared capital
Greece's IKE can legally be formed with zero minimum capital — the law genuinely permits it. In practice, however, Greek banks and many larger Greek business partners expect to see some declared share capital as a sign of commitment and financial credibility. Declaring a capital of €1,000 to €10,000 in the Articles of Association costs nothing additional beyond the slightly higher notary fee calculation, but meaningfully improves the company's perceived credibility in the Greek market. Your attorney can advise on the appropriate level for your specific sector and business model.
The €10,000 VAT threshold means almost every Greek company needs VAT registration immediately
With a VAT registration threshold of just €10,000 annually — one of the lowest in the EU — virtually every operational Greek business will require VAT (ΦΠΑ) registration. At 24% standard rate, Greek VAT is one of the higher rates in the EU. For B2B businesses dealing with other VAT-registered EU companies, VAT is largely a pass-through. For consumer-facing businesses, the 24% rate directly affects pricing competitiveness and must be built into pricing models from the first transaction. Register for VAT simultaneously with AADE tax registration after GEMI entry — do not wait to cross the threshold.
A Greek company can complement a Greek Golden Visa — but does not automatically qualify for one
Greece's Golden Visa programme is one of the most active in the EU and is primarily investment-driven — through real estate purchase (from €250,000 in most areas, higher in Athens and Thessaloniki), government bonds, or business investment. Registering a Greek company alone does not automatically qualify you for a Golden Visa. However, making a qualifying investment through a Greek company — or combining company registration with a separate qualifying investment — can be structured to support a residency application. See our Greece Golden Visa guide for full details on qualifying routes.
Greek owner-directors may face EFKA social contribution obligations — clarify this early
In Greece, individuals who are actively managing their own company — not merely passive shareholders — may be considered self-employed professionals and required to contribute to EFKA (the Greek social insurance body) even if they are non-residents. The rules around this are specific to the nature and level of involvement in the business, and have historically been an area of complexity and inconsistency. Before drawing any remuneration or taking an active management role in a Greek company, clarify your specific EFKA obligations with a Greek accountant who specialises in international company structures. Unplanned social contributions can be a significant cost for active directors.
Registering a Greek Company Is Right for You If…
- →You want a Eurozone EU company at significantly lower operating costs than Western Europe — Greece's professional services, office space, and labour costs are among the most competitive in the EU.
- →You are targeting Greece's domestic market, the tourism and hospitality sector, real estate, shipping, or the Eastern Mediterranean trade corridor — all areas where Greece has genuine commercial depth.
- →You want to combine a business registration with a pathway toward Greek residency through the Golden Visa programme — Greece offers one of the EU's most accessible and internationally recognised investor residency routes.
- →You value the IKE structure's genuine flexibility — no minimum capital, simplified governance, and a modernised legal framework specifically designed for international entrepreneurs.
- →You have taken US cross-border tax advice confirming that Greece's 22% CIT qualifies for the GILTI high-tax exclusion in your structure, and you understand the potential EFKA obligations for active directors.
We work with trusted Greek corporate attorneys and accountants who specialise in company formation for non-EU nationals. From AFM procurement and Articles of Association drafting to GEMI registration, AADE tax enrollment, banking setup, and ongoing compliance — we guide you through every step, including coordination with your US tax advisor on cross-border structuring.