Submit with GEMI the application of establishment and its forms
Agency: Chamber of Commerce and Industry office at One-Stop Shop
The costs associated with starting a business are as follows:
- Fixed fee for the incorporation of IKE (for up to 10 shareholders): €60 (€18 if the company is setup via the electronic platform or 70% discount; online incorporation for multiple-member IKE is free of charge until September 2019);
- Fee for the submission of documents with GEMI: €10;
- Annual membership fee for the Chamber of Commerce in Athens: € 41 (optional);
- Verification of brand name and distinctive title at national level: € 30 (optional);
- Annual fee to maintain the company account active with GEMI: €100 (payable within 3 months after company registration). It is obligatory that all companies maintain an active ledger (merida) on which corporate actions, updates and information need to be recorded.
The Articles of Association of the company shall contain:
- The full trade name of the IKE;
- The domicile or an electronic address of the partners;
- The seat of the company;
- The objective of the company;
- Verification that the company is private;
- The contributions of the partners by category and their value, in accordance with Articles 77 to 79, as well as the capital of the company;
- The sum of the company’s parts;
- The initial number of the parts of each partner and the category of contribution to which the parts correspond;
- How the company is managed and represented; and
- The duration of the company.
The following documents can be obtained at GEMI: Tax Compliance Certificate, Social Security Compliance Certificate, Tax Identification Number as well as VAT number.
A new online system (https://eyms.businessportal.gr/auth) was launched in 2018, allowing for electronic name check, business registration using standard AoA, VAT/ tax registration and registration with social security (EFKA) but the majority of entrepreneurs are still going through in person business registration.
Time and cost: 2 days, see procedure details
Make a company seal
Agency: Seal Maker
All company books and records must be sealed before they are certified. The company seal must also contain the company’s tax registration number and competent tax office.
On May 31, 2013 the Government of Greece adopted the Law 4156/2013 abolishing the requirement to make and affix the company seal for corporations. However, it is still used in practice by banks, as the Bank of Greece has not issued a circular asking the banks to not require it. Thus, companies are still required to make a company seal in their daily practice.
As of January 2015, IKE is required to keep electronically its c’ category books and records. There is no obligation for handwritten company’s books and records sealed by the competent Tax Authority.
Time and cost: 1 day, EUR 40
Register with EFKA (Unified Social Security Institution)
Agency: EFKA (Unified Social Security Institution)
Once the company has been incorporated, The entrepreneur has to register with EFKA in its capacity as an employer. At the same time, the Director of IKE is legally obliged to registered with EFKA while the registration of other members of IKE is optional. Registering more members of the IKE costs an additional EUR 111.10 per person.
Time and cost: 1 day (simultaneous with previous procedure), no charge
