Starting a Business in Greece in 2026 : Costs, Steps & Requirements 

Starting a business in Greece is simple and can be done mostly online, and foreign nationals also have the same rights as Greek citizens when opening a company in the country. In most cases, you need a Greek Tax Identification Number (AFM) and access to the TAXIS system, which allows you to register your company digitally through the official e-YMS platform. The process can take three to six weeks, and business owners can benefit from low startup costs, access to the EU market, and opportunities in sectors like tourism, technology, and real estate.

This article will cover everything you need to know about starting a business in Greece as a foreigner, from the eligibility requirements, the documents, the costs, and much more.

Starting a Business in Greece: Key Takeaways

Starting a business in Greece is fast and mostly done online, and the process takes around 3 to 6 weeks, depending on how quickly you get your tax number (AFM).

Foreigners can fully own a business in Greece, but non-EU citizens need to first get a visa or residence permit to live and operate in the country.

The cost of starting a business is low, with some company types like an IKE requiring as little as €1 in share capital.

The process is made up of important steps such as getting a tax number (AFM), registering the company through the e-YMS system, opening a bank account, and setting up tax and accounting systems.

Greece has several business advantages, including access to the EU market of over 440 million consumers and funding opportunities through EU programs.

The country’s  corporate tax rate sits at  22%  with more incentives for startups and innovation.

Yes, foreigners can start a business in Greece, and in most sectors, 100% foreign ownership is allowed. The process is mainly digital, meaning you can complete most of the company registration online. However, the requirements depend on whether you are an EU/EEA citizen or a non-EU national.

EU and EEA Citizens

If you are from an EU or EEA country, you have the same rights as Greek citizens. You do not need a residence or work permit to start a business in Greece, and you can register your company online through the e-YMS (Electronic One-Stop Shop) using your digital ID or by getting a Greek tax number.

Non-EU Citizens

If you are from outside the EU, you will need a long-stay (D-type) visa or a residence permit to live and run a business in Greece. One of the safest and most reliable options is the Greek Golden Visa, which allows you to obtain residency through real estate investment, starting at €250,000. You can also choose other investment options, such as investing €250,000 in an approved Greek startup, as well as funds, company shares, or bonds. Successful applicants receive a five-year residence permit, allowing them to live in Greece and access the EU.

Businesses sturtcures in Greece are divided into two main types. Capital companies, where your personal assets are protected, and personal companies, where you are personally responsible for business debts.

Capital companies (Limited Liability)

• The Private Capital Company (IKE) is the most well-known option for startups and small businesses because it can be set up quickly online with as little as €1, while also protecting your personal assets from business debts.
• The Public Limited Company (AE) is created for larger businesses and requires at least €25,000 in capital, a board of directors, and is normally used for large investments or companies planning to list on the stock exchange.
• The Limited Liability Company (EPE) gives you protection of personal assets but has stricter rules and decision-making processes, which is why it is less used compared to the IKE.

 Personal companies (Partnerships)

• The General Partnership (OE) allows two or more people to run a business together, but all partners are fully responsible for the company’s debts, including with their personal assets.
• The Limited Partnership (EE) includes at least one partner with full liability and other partners whose risk is limited to the amount they have invested in the business.
• A Sole Proprietorship is a business owned by one person. Even though it is easy to set up, the owner is fully responsible for all the business’s debts and obligations. 

1. Tax incentives: Greece has a reduced tax rate of 9% on income up to €10,000, along with research and development benefits, and deductions of up to 215% for small and medium-sized businesses.
2. Competitive corporate tax: The country has a flat 22% corporate tax rate.
3. EU funding opportunities: Businesses can access up to €30.5 billion in EU funding through the Recovery and Resilience Facility for green energy, digital projects, and innovation.
4. Startup support: Programs like Elevate Greece provide tax breaks for investors of up to €900,000 and additional government support for approved startups.
5. Strategic location and EU access: Greece offers direct access to the EU market of over 440 million consumers and connects Europe with the Balkans, North Africa, and the Middle East.
6. Strong tourism sector: Greece is a well-sought-after destination and creates opportunities in luxury tourism, eco-tourism, and digital travel platforms.
7. Renewable energy growth: Greece is becoming a big green energy sector, with more growth in solar and wind, and a goal of 60% renewable electricity by 2030.
8. Lower operating costs: Businesses benefit from lower labor and real estate costs compared to Western Europe or North America, while still having access to high-speed internet (120+ Mbps).

What legal documents are required for starting a business in Greece?

 If you are an individual (foreign founder)

• A valid passport, and if you are not from the EU, you will also need a visa or residence permit that allows business activity.
• A Greek tax number (AFM), which is required for all business and tax purposes.
• TAXISnet login details, which are digital credentials you receive after getting your tax number.
• Proof of your address, such as a recent utility bill or bank statement from your home country 
• A local tax representative in Greece, through a signed document or power of attorney, to handle your tax matters.

 If a foreign company is the founder (parent company)

• The company’s Articles of Association, which explain how the business is structured.
• A certificate of good standing, issued within the last 3 months, to show the company is active and not being closed.
• A board resolution, confirming that the company has approved opening a business in Greece and has appointed a legal representative.
•  A Power of Attorney, allowing a local lawyer or accountant to complete the registration on your behalf.
• A lease agreement or proof of address in Greece to show where the business will operate.
• A UBO (Ultimate Beneficial Owner) declaration, identifying any individuals who own more than 25% of the company.

• Step 1: Appoint a tax representative: If you do not live in Greece, you have to appoint a local tax representative, who can be an accountant or lawyer. This person will handle communication with the Greek tax authorities on your behalf.
• Step 2: Get a Greek tax number (AFM): You have to apply for a Greek tax number (AFM), which is required for all business activities. EU citizens can often apply online, while non-EU citizens need to provide a Power of Attorney so their representative can apply on their behalf.
• Step 3: Get TAXISnet login details: After receiving your AFM, you will get TAXISnet credentials, which are your login details for Greek government systems. You will need these to manage taxes and register your company.
• Step 4: Choose and reserve your company name: Check whether your company name is available in the GEMI (business registry) system and reserve it before continuing.
• Step 5: Prepare company documents: You need to prepare your Articles of Association, which explain how your company will operate. For small companies (IKE), you can use a simple online template, but for larger companies (AE), you will need a notary.
• Step 6: Register your company online: You can submit your application through the e-YMS system and pay a small fee.  Once approved, your company will automatically receive:
  • A business registration number (GEMI)
  • A company tax number (AFM) and VAT number
  • Registration with social security (EFKA)
• Step 7: Open a business bank account: You are required to open a company bank account and deposit your starting capital, for example, €1 for an IKE or €25,000 for an AE. This process can take 2 to 4 weeks due to bank checks.
• Step 8: Confirm social security registration: The company owner must ensure the company’s legal representative is properly registered with the Greek social security system (EFKA).
• Step 9: Declare company owners (UBO): You must register the ultimate beneficial owners (UBOs), i.e., anyone who owns more than 25% of the company. This must be done within 30 to 60 days to avoid fines.
• Step 10: Set up digital accounting: The final step is to set up your digital bookkeeping system (myDATA) and enable electronic invoicing, which is required for businesses in Greece.

To learn more about the Greece Golden Visa Program

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Starting a business in Greece is now much faster because of the online one-stop system (e-YMS). However, if you are a foreigner, the total time mostly depends on how quickly you can get your Greek tax number (AFM) and digital login details, which are needed before you can register your company.

Taxes in Greece apply to both local and foreign-owned businesses. From corporate income tax to VAT and social contributions, knowing your obligations will help you stay compliant and manage costs effectively.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments. 

We guide you from start to finish, taking you beyond your citizenship or residency by investment application.