Company Registration in Greece – Benefits
Despite the absence of the offshore zone in Greece, the company can pay low tax rates while complying with a range of requirements and operate under legal conditions, that’s why many entrepreneurs consider company registration in Greece.
The main priority for business owners that operate abroad is to promote the development of the managerial mechanism. The cost of maintenance of linear and functional management should be not less than fifty thousand Euro.
Upon completion of the registration procedure the company is entitled to engage in any activity permitted by the applicable Greek legislation. Foreign representatives may directly engage in managerial activities and have a full package (100%) of the total capital of the company.
The company’s name is of great importance in the country. It is necessary to check and make sure that there is no registered company with the same name. It is not recommended to use words that directly describe the type of business activity.
Benefits of Company Registration in Greece
Despite the fact that Greece applies high tax rates for business, the country is still concerned in attracting new foreign capital. For this purpose a range of advantages have been developed for companies that plan to incorporate as company within the country:
High prestige of tax jurisdiction;
Conclusion of contracts corresponding to the applicable legislation that adjust the possibility of double taxation;
Confidentiality and anonymity of personal data of the founders. The nominee service is delivered to companies and corporations as well as the possibility of choice of the company’s representative in the territory of the country;
Convenient, simple and swift procedure of registration and filing of the package of documents;
Tax benefits and grants.
Qualified specialists of the Private Financial Services will proceed to registration procedure quickly and efficiently. Moreover, the team of this company delivers services of current maintenance in Greece offering comfortable conditions.
Wide experience of work and knowledge of all details of foreign firm registration and the current legislation of Greece allows employees of the company to make correct decisions and perform the most complicated tasks.
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FAQ (Frequently Asked Questions)
1. How long does it take to register a company in Greece?
You can quickly register a company in Greece. This procedure takes no more than 10 days, provided that all the rules are followed, and a full package of necessary documents is provided.
2. What type of company is most often opened by people in Greece?
Most often, a type of company is opened in Greece that does not require a mandatory minimum capital, and a person can get by with only nominal capital.
3. Can residents of other countries act as directors of the company registered in Greece?
There are requirements for a company that must have one shareholder and three directors. They may be individuals or legal entities. At the same time, directors and shareholders may be citizens of other countries.
4. Are there requirements for opening a public limited company and what are they?
For this type of company, the authorized capital of at least 60,000 euros is required. The amount must be paid in full within a month after the registration of the company. There are restrictions on the available number of registered shareholders, so there must be at least two owners of the company’s shares. The company must be managed by a Board of Directors consisting of at least three members. Most of the members of the Board of Directors must be from reagent countries of the European Union.
5. What are the legal requirements for setting up a private limited company?
For this type of company, the authorized capital must be at least 18,000 euros. Half of this amount must be paid at the time of registration of the company. Such conditions are relevant provided that the registration is carried out by two shareholders (the minimum number available). If the registration of the company occurs with the participation of one shareholder. then the conditions for the payment of capital change. In this case, the authorized capital is 4,500 euros. The director of the company must be a resident of the country of the European Union without fail. Non-residents can also manage the company, but with a special power of attorney.
6. What is the minimum authorized capital that a company registered in Greece should have?
The three types of companies have different minimum capital requirements. S.A. – the minimum capital is 25,000 euros. L.T.D. – no minimum capital requirements. There is also no minimum required capital requirement for a private company.
7. Are there mandatory annual maintenance costs for a company that has its registered office in Greece?
In the first year, the cost of maintaining the company is at least 2,000 euros.
8. Are there any restrictions on company activities?
Companies formed in Greece are liable to corporate income tax on their worldwide earnings at a standard rate of 26%. They can also be required to register for VAT and to charge their local customers VAT at a rate of 19%. The Greece tax rates have changed several times over the past 3 years, and more changes are likely;
Greece has one of the most restrictive environments for doing business because the economy has restrictions and regulations regarding trading across borders, a poor bureaucratic system that further causes weak enforcement of contracts, and time-consuming procedures for getting electricity and registering property.
9. How can I get more information?
Private Financial Services provides a full range of corporate services in Greece, including company registrations, bank accounts, license assistance, cryptocurrency and fintech projects, the gambling industry, and much more.
The Private Financial Services team will be happy to discuss matters in more detail.