Starting a Business in Greece: A Complete Guide for Expats

To start a business in Greece, you need a Greek Tax Identification Number (TIN) and access to the TAXIS system, which is the country’s online tax platform. With these, you can register your business fully online using your TAXIS credentials as your digital signature. The process is simple, fast, and does not require visiting any government office.

Greece is friendly to foreign investors and allows both EU and non-EU citizens to open businesses. Even if you are a local entrepreneur or a foreign company looking to enter the Greek market, the country provides low startup costs, access to the EU market, and opportunities in growing sectors like tourism, tech, and real estate. Greece has put effort into having fewer bureaucratic steps, easier methods of paying taxes, and more digital services.

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. This is what will be covered:

• What steps do you need taking when starting a business in Greece as a foreigner?
• Legal Company Structures in Greece
• What online steps are available to set up a company in Greece?
• Benefits of Starting a Business in Greece
• What steps do you need to take to grow a business, like opening a branch or creating a subsidiary?
• Which documents are required for starting a business in Greece?
• How long does it take to start a business in Greece?
• How much does it cost to start a business in Greece?
• Taxes for businesses in Greece

What steps do you need taking when starting a business in Greece as a foreigner? 

To start a business in Greece, you need a Greek Tax Identification Number (TIN) and TAXISnet credentials. These credentials act as your digital signature and allow you to complete the entire registration process online, in real time. No other documents or certificates are required for the setup itself.

For foreign nationals, it is possible to start a business through the Greek Golden Visa. Holders of the Greek Golden Visa are eligible to establish and run a business in Greece. They can act as shareholders or even serve as the legal representative of a company without needing to partner with a local citizen or meet additional investment requirements. For legal guidance and to avoid complications, working with a Greece Golden Visa lawyer can help ensure compliance and proper registration.

For EU Citizens:

• You must obtain a Greek TIN before registering your business.
• This can be done remotely via a video call through the myAADElive platform.
• You’ll need to fill out a digital form and book a telephone appointment with an AADE representative.

For Non-EU Citizens:

• You must first secure a valid residence permit that allows you to carry out business activity in Greece (such as a long-term visa or entrepreneur visa).
• Once you have legal residency, you can apply for a Greek TIN in person at the local tax office (DOY) or through legal representation.
• After receiving your TIN and TAXISnet credentials, you can proceed to register your business online.

Legal Company Structures in Greece

When starting a business in Greece, one of the first decisions you’ll make is choosing the legal form of your company. The Greek legal system offers several options, but each legal form has its own requirements, tax obligations, and liability structures.

1. Public Limited Company (A.E.)

The Public Limited Company (Anónymi Etaireía – A.E.) is ideal for larger businesses that plan to raise capital or operate at a national or international level. It requires a minimum share capital of €25,000 and must be managed by a board of directors.

Shareholders are only liable up to the amount of their investment. This structure is more complex but has the most credibility and is commonly used by corporations, listed companies, and businesses looking for outside investment.

2. Limited Liability Company (E.P.E.)

The Limited Liability Company (Etería Periorisménis Efthínis – E.P.E.), is well-suited for small and medium-sized businesses. It combines elements of both partnerships and corporations, which offers limited liability protection to its members.

The company is managed by one or more administrators, and decision-making can be flexible. While this structure is still in use, it has become less popular in recent years with the rise of the simpler Private Company (I.K.E.).

3. Private Company (I.K.E.)

The Private Company (Idiotikí Kefalaiouchikí Etaireía – I.K.E.) was introduced under Law 4072/2012 as a modern alternative to the E.P.E. It is now one of the most common business forms in Greece, especially for startups and entrepreneurs.

The I.K.E. requires only €1 in minimum capital, and contributions can include money, assets, or even personal labor. It provides full limited liability, simple formation procedures, and a flexible internal structure, making it an good choice for foreign investors and small teams.

4. General and Limited Partnerships (O.E. and E.E.)

Both the General Partnership (Omorrythmos Etaireía – O.E.) and the Limited Partnership (Eterorrythmos Etaireía – E.E.) are more traditional business forms. In a general partnership, all partners share equal responsibility and liability for the company’s debts. In a limited partnership, at least one partner has unlimited liability while others enjoy limited liability. These forms are used for small or family-run businesses and are simple and inexpensive to set up, though they carry more risk due to personal liability.

5. Civil-Law Cooperative

The Civil-Law Cooperative is used by groups of individuals who come together for a mutual economic purpose, often in sectors like agriculture, tourism, or social enterprises. Members jointly own and manage the cooperative, share in the profits, and contribute to its decision-making. It is built on principles of shared benefit and democratic governance, making it a good option for community-based projects.

6. Civil-Law Association (with economic activity)

A Civil-Law Association is a flexible legal form for groups of people who come together to pursue a specific economic goal. It less formal than a corporation but it allows members to collaborate and share profits, and all members may be held jointly liable unless otherwise agreed.

7. European Legal Entities

For companies with cross-border activities in the EU, Greece recognizes many European-level legal entities. The European Economic Interest Grouping (EEIG), regulated by Council Regulation 2137/1985, allows companies from different EU countries to operate jointly while maintaining their independence.

The European Company (SE) enable businesses to operate across the EU under a single legal framework. These structures are great for businesses looking to expand within the European market.

8. Joint Venture (Koinopraxía)

A Joint Venture is not a separate legal entity but a contract between two or more parties to work together on a specific project or business activity.

It is commonly used in construction, tourism, and infrastructure sectors. While the venture operates as a shared business, each partner remains individually responsible for their obligations. Joint ventures are flexible and useful for short- to medium-term cooperation.

What online steps are available to set up a company in Greece? 

Greece offers a fully online system for starting a business, which follows European Union rules including Directive 2017/1132 and Article 13 as updated by Directive 2019/1151.

• Online platform: You can start the company formation process through the government’s official digital portal at eyms.businessportal.gr.
• Log in with TAXISnet credentials: Founders log in using their TAXISnet username and password. These credentials act as their electronic signature and are used to complete and sign all necessary forms.
• Filling in company details: The founders enter their personal or business information directly into the platform. The system then automatically creates the articles of association or statutes based on the data provided.
• Company registration: The platform generates a digital version of the founding documents and registers the company with the General Commercial Register, known in Greece as GEMI. Once registered, the company receives a GEMI number.
• Tax and social security setup: Tax and social security setup: After GEMI registration, the system automatically registers the company with the Greek tax authority, AADE, and assigns a tax identification number. It also registers the company with the Greek social security institution, e-EFKA, and issues an Employer Register Number.
• Ready to operate: Once all these steps are completed online, the company is fully registered and ready to operate in Greece. There are no additional steps or formalities required.

Benefits of Starting a Business in Greece

1. Strong Economic Recovery: Greece’s economy has shown growth since the pandemic. Greece’s economy grew by 8.3% in 2021, followed by 5.2% in 2022 and 3.5% in 2023.

2. Booming Tourism Sector: Tourism is one of Greece’s strongest industries. Visitor numbers jumped from 15 million in 2021 to over 30 million in 2023. Tourism revenues are projected to continue to grow and generate billions as businesses in hospitality, travel, and services benefit from high demand.

3. Increase in Foreign Investment: Greece attracted over €6 billion in foreign direct investment in 2023. This shows growing international confidence, especially in sectors like infrastructure, green energy, and digital transformation.

4. Lower Unemployment and Skilled Workforce: Unemployment dropped from 15.8% in 2021 to 12.5% in 2023. More people are entering the job market and gaining skills, so it’s easier to find qualified staff for your business.

5. Growing Export and Tech Sectors: Greek products like olive oil and wine were exported more each year, growing by 12% annually. Tech startups in Greece also grew by 25% every year, supported by the government and a growing interest in new businesses.

What steps do you need to take to grow a business, like opening a branch or creating a subsidiary?

Expanding a business by opening a branch or creating a subsidiary in Greece cannot yet be done through the online business registration platform. Instead, you must submit the required legal documents in person or through an authorized representative to the relevant office of the General Commercial Register (GEMI).

For EU companies, the main documents you need to provide are:

• The company’s articles of association or statutes
• A certificate of good standing from the home country
• A formal decision to open a branch in Greece
• The appointment of an authorized representative to manage the branch in Greece

All these documents must be officially certified and include an apostille to confirm their authenticity.

Which documents are required for starting a business in Greece?

For individual founders (natural persons):

• Greek nationals: A valid Greek identity card.
• EU citizens: A valid passport or national ID card.
• Non-EU citizens:

1. 1. A valid passport and entry visa if needed.
   2. A signed declaration stating the intention to live permanently in Greece.
   3. A valid residence permit or proof that a residence permit application has been submitted, allowing them to run a business.

For company founders based in Greece (legal persons):

• A copy of the company’s articles of association or statutes, which can be automatically accessed if registered in GEMI (the Greek Business Register).
• A decision by the company or its partners to participate in the new business and appoint a representative to handle the registration.
• If a representative other than the company’s official signatory files the paperwork, a special power of attorney or authorization must be provided.

For company founders based outside Greece (legal persons):

• A copy of the company’s articles of association or statutes.
• A certificate from their country’s business register (issued within the last 3 months) confirming the company is legally active and not bankrupt.
• A certified power of attorney appointing a representative in Greece.
• All documents must be officially certified, apostilled, and translated into Greek if needed.

How long does it take to open a company in Greece?

Opening a company in Greece typically takes 10 to 20 business days, depending on the type of company and how efficiently documents are prepared. Delays may occur if translations or notarizations are needed for foreign documents.

Here is an overview of the estimated time required for each step to open a company in Greece.

How much does it cost to start a business in Greece?

There are fees to register a company in Greece. If you register online using the digital platform, the cost is between €18 and €24. If you register at a GEMI office, the price is higher, between €60 and €80.

How long does it take to start a business in Greece?

Starting a business in Greece is very fast when done online, usually taking only a few minutes. If you register through a notary or at a GEMI office, the process takes longer, usually between 30 and 60 minutes. The exact time depends on the type of company and the number of founders.

Taxes for businesses in Greece

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.

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Frequently asked Questions about starting a business in Greece

Which authorities are responsible for registering a company?

The online company registration platform is managed by the Ministry of Development and Investments. The main authority is the Directorate for Companies, and the application is assigned to a local GEMI Department based on your registered office address.

Is it possible to submit the application in person, by email, or online?

Yes. If you don’t use the online platform, you can submit your application in person at a GEMI office or through a licensed notary public. Online registration is the fastest and easiest method.

Do I need a license to start a business in Greece?

Licensing depends on your business activity. Some businesses, like those selling food, require special permits. For food-related companies, you should consult the Hellenic Food Authority (EFET) for food safety and hygiene regulations.

Can a foreigner open a business in Greece?

Yes. EU citizens can open a business easily. Non-EU citizens must first obtain a residence permit that allows business activity. Once approved, they can register their business just like Greek nationals.

How long does it take to start a business in Greece?

If you register online, it usually takes only a few minutes. If you go through a GEMI office or notary, it may take 30 to 60 minutes, depending on the company type and number of founders.

What is GEMI?

GEMI is the General Commercial Register of Greece. It keeps all official company records. Once your company is registered with GEMI, it’s legally recognized and ready to operate.

How much does it cost to register a company in Greece?

Online registration costs between €18 and €24. If you apply through a GEMI office, the cost ranges between €60 and €80. Extra fees may apply if a notary is involved.

Do I need a Greek Tax Identification Number (TIN)?

Yes. All business founders must have a Greek TIN. EU citizens can apply online. Non-EU citizens must apply through a tax office and provide additional documentation for residence or visa status.