Starting a Business in Greece: Foreign Founder Guide 2026

Starting a business in Greece means registering a company through Greece’s official channels, most commonly the electronic one-stop shop, e-YMS, and obtaining a Greek tax number (AFM). Company ownership itself does not grant a foreign founder the right to live or work in Greece; that depends on a separate immigration status. 

Our legal experts at Global Citizen Solutions have noticed something that tends to be a misunderstanding among clients. Incorporating a Greek company does not itself produce a residence permit or a right to work. Founders based outside Greece routinely register a company through a local tax representative without ever needing Greek residence status; it’s only living in Greece to run the business day to day that triggers the immigration question. 

This guide walks through eligibility, legal structures, the registration route, required documents, official fees, and ongoing tax and compliance obligations for founders starting a business in Greece as a foreigner. 

Starting a Business in Greece: Key Takeaways

Foreigners can 100% own a business in Greece without needing a local partner, although company ownership and the right to live or work in Greece are separate matters.   

The IKE (Private Capital Company) is the most popular structure for small-to-medium businesses and startups, but the best structure depends on liability, capital, governance, and tax considerations.  

Founders need an AFM and TAXISnet credentials before incorporating, while non-resident founders may also need a local tax representative and Power of Attorney.  

e-YMS can simplify company registration by handling GEMI, tax, and social security registrations through one digital process, although non-EU founders may need an assisted registration route.  

Company formation involves both official and professional costs, while ongoing obligations include corporate tax, VAT, withholding taxes, social security, and other applicable taxes.  

A foreign company can open a Greek branch instead of creating a new company. A branch is not a separate legal entity, does not require new share capital, and leaves the parent company fully liable for its debts and obligations. 

Yes. Greek company law allows 100% foreign ownership in most sectors. Both EU/EEA and non-EU nationals can be founders, directors, or shareholders of a Greek company. 

These three areas are often confused, but they are separate legal questions: Owning shares in a Greek company, managing the company day to day, and having permission to live or work in Greece are not the same thing. 

• EU/EEA citizens can register and run a company in Greece with the same rights as Greek nationals, without needing a separate residence or work permit. 
• Non-EU citizens can own and be listed as founders of a Greek company. However, living in Greece to operate the business requires a qualifying immigration basis, such as a long-stay (D-type) visa, a residence permit linked to business activity, or an investment-based route such as the Greek Golden Visa. The Golden Visa is available from €250,000 in qualifying real estate, funds, or an approved Greek startup and can lead to a five-year residence permit. .

 Simply registering a Greek company does not give you a residence permit or the right to work in Greece. Founders living abroad can usually register a company through a local tax representative without needing Greek residence status. 

The reverse is also true. Greece’s main residence permits are based on investment or income, not company registration. The Greek Golden Visa grants residence through qualifying investments, including real estate from €250,000, depending on the property, a €250,000 investment in an Elevate Greece-registered startup, a €350,000 investment fund, or a €500,000 bank deposit, but it does not automatically register a trading company. 

 The Greek Digital Nomad Visa and Financially Independent Person (FIP) Visa require income from outside Greece and do not allow holders to run a Greek-registered business on that basis. 

If you want to live in Greece and operate a Greek company, you will need to meet both the immigration and company registration requirements separately.

Greek business structures fall into two main categories: Capital companies, where the owners’ personal assets are protected from business debts, and personal companies (partnerships), where at least one owner has personal liability. There is no single best structure. The right choice depends on your liability tolerance, available capital, governance preferences, and tax position.  

IKE, EPE, AE, and partnerships 

Every route to registering a business in Greece starts with the tax system. Before you can incorporate, you need: 

• A Greek Tax Identification Number (AFM), required for all business and tax purposes. 
• TAXISnet credentials, the digital login issued once you have an AFM. These are used to manage taxes and complete company registration. 
• If you are not resident in Greece, a local tax representative, such as an accountant or lawyer, to communicate with the Greek tax authorities on your behalf. 

EU/EEA citizens can generally obtain an AFM and TAXISnet access online. Non-EU citizens typically need a Power of Attorney so a local representative can apply on their behalf. 

Greece’s electronic one-stop shop, e-YMS, is designed for eligible company formations. Once submitted, it can trigger the related registry (GEMI), tax (AFM/VAT), and social security (EFKA) registrations through a single digital process. 

However, this route is not available to everyone. Greece’s digital sole-trader registration service currently lists Greek or EU nationality among its eligibility conditions. 

 Non-EU founders and other cases that fall outside these conditions register through the competent one-stop shop, a notary, or a local representative acting under Power of Attorney, rather than using the fully self-service digital process. 

Greek company formation registration process 

Founder identity documents 

• Valid passport 
• Visa or residence permit permitting business activity (non-EU founders) 
• Greek AFM and TAXISnet credentials 
• Proof of address (utility bill or bank statement) 
• Power of Attorney and/or local tax representative appointment, if applying from abroad 

Registered seat evidence 

• Lease agreement or proof of address for the company’s registered office in Greece 

Constitutional documents 

• Articles of Association (a simple online template is available for an IKE; an AE requires a notary) 
• For a foreign parent company: Certificate of Good Standing (issued within the last 3 months), board resolution approving the Greek branch or subsidiary, and a UBO (Ultimate Beneficial Owner) declaration for anyone holding more than 25% 

Activity-specific evidence 

• Sector licences or permits where the activity requires them; for example, food businesses need clearance from the Hellenic Food Authority (EFET) 

Once a formation is submitted through e-YMS (or the equivalent assisted route), a successful registration gives you: 

• A GEMI business registration number (Greece’s General Commercial Registry) 
• A company AFM and VAT number 
• Registration with EFKA, the social security system, for the company’s legal representative 

You can verify any Greek company’s registration status directly through GEMI’s public search.  

The 60-day deadline for declaring the Ultimate Beneficial Owner (UBO) is the only official statutory timeframe. The other timeframes are estimated market-practice ranges, as Greek authorities do not publish fixed processing times for AFM/Taxisnet, e-YMS, myDATA, or corporate bank account opening. Banks set their own account-opening timelines under applicable AML/KYC requirements.

Once the company is registered, you will need to open a corporate bank account in Greece and deposit any required share capital. The bank will usually carry out compliance and identity checks, so opening the account can be the longest part of the setup and may take 2–4 weeks. 

You will also need to provide the bank with the company’s registration and identification documents, as well as information about the company’s owners and directors. Non-resident founders may need to provide additional documents or work through a local representative. 

Finally, the company must file its UBO (Ultimate Beneficial Owner) declaration within 30–60 days of registration to avoid potential fines. 

The minimum share capital is set by Greek law. Under Law 4072/2012, an IKE can be established with a minimum capital of €1. Under Law 4548/2018, Article 15(2), an AE requires at least €25,000 in share capital, which must be paid in full. 

These are the current taxes in Greece specifically for companies functioning in the country.  

Foreign companies expanding into Greece do not have to create a new legal entity. Instead, they can open a branch through GEMI. 

A branch is not a separate company. It is an extension of the parent company, which means no new share capital is required. However, the parent company remains fully liable for the branch’s debts and obligations. 

The process generally involves these steps: 

1. The parent company’s board approves the branch and appoints a legal representative. 
2. The branch name is reserved through GEMI. 
3. The Articles of Association and Certificate of Good Standing are filed. 
4. The branch receives its own AFM and VAT number. 
5. A Greek business bank account is opened.