Setting up a business in Greece

An overview of the process of starting a new business in Greece.

Legal requirements

Commercial legislation, company legislation and limited liability company legislation define the procedures for the establishment of a new business. Recently, the European Union adopted a communication that addresses aspects such as the simplification and acceleration of these procedures.

Commercial law [EL]

Company law [EL]

Limited liability company law [EL]

In addition to regular start-up procedures, a new business needs an integral commercial strategy and secure financing, in order to be successful.

Access to finance — Greece

The first decision a potential entrepreneur shall take relates to the legal form of the business. Businesses can be sole traders or corporate enterprises (SA, GP, LP, LLC). Sole traders belong to one person while corporate enterprises belong to two or more persons linked together through a corporate relationship.

Sole trader [EL]

Public limited company [EL]

General partnership (GP) [EL]

Limited partnership (LP) [EL]

Limited liability company (LLC) [EL]

Administrative procedures

While establishment procedures differ in general, depending on the type of business, they do include certain common stages. Initially, the business premises must be established. Following this, the sole trader or the partners of a legal entity (corporate enterprises) must register with the competent insurance body. In most cases, the business shall also be registered with the competent chamber of commerce. Depending on the type of activity, issuing an installation and operation technical license or a professional practice license may be required. Then, the competent Tax Office shall issue a VAT registration number and perform the bookkeeping process. Special procedures are also followed concerning staff recruitment, as well as other actions, such as trademark protection.

Athens Chamber of Commerce and Industry - establishment of a business [EL]

Personalised help and advice

EOMMEX (Hellenic Organization of Small and Medium Sized Enterprises and Handicraft S.A.) provides information on business set-ups as well as information on specific new business support programmes.

Relevant information is provided by the Centres for Business and Technological Development (ΚΕΤΑ); besides all formal procedures, new businesses should also consider the various aspects of financing available.

Guide to business formation [EL]

List of KETAs [EL]

The Enterprise Europe Network provides businesses with information and advice through its local partners.

Enterprise Europe Network – contact points – Greece

SOLVIT helps businesses deal with problems that arise when national authorities wrongly apply EU market rules.

SOLVIT – contact points – Greece

Source: European Commission