August 3, 2010, 4:36 pm
There are many opportunities for opening a company in Greece, as it represents a welcoming business environment both for nationals and foreign investors. The Greek company law is based on the French system, the major business types are equivalent of the French. The most common way to open up a business in Greece is to register a company limited by shares (AE), or a limited liability company (EPE).
Forming a Company limited by shares, stock corporation (AE) in Greece
The company limited by shares, or the stock corporation is designed for major companies. It may be formed by at least two individuals who are Greek, or foreign residents. The owner's liability is limited to the amount of capital invested, which in total cannot be less than EUR 60.000. The capital must be paid up entirely and the equity is owned in stocks. The nominal value varies from EUR 0,30 to EUR 100 per share. The directors of a stock corporation are independent, without the obligation to own shares.
Forming a Limited liability company (EPE) in Greece
A Greek Limited Liability Company is designated to business at a smaller scale, having a minimum required capital of EUR 4.500. The limited liability company may be also formed by at least two partners, Greek or foreigners, but can be managed by only one director. The liability of the partners is limited to the sum invested by each one. The share capital must be fully subscribed and paid up at formation, at least half of it in cash. The directors of a Greek limited liability company must own shares. A limited liability company can be established by one person, but in this case its name becomes "one person limited liability company".
Forming a General Partnership (OE) in Greece
A Greek general partnership consists of at least two members, individuals or legal entities, who have unlimited liability to the extent of their personal assets. There is no minimum capital required for the formation of a Greek general partnership. All partners have the right to interfere in the company's management, sharing profits and losses equally. A general partnership functions on the basis of a partnership agreement, signed by all partners, which does not have to take the form of a public document.
Forming a Limited Partnership (EE) in Greece
The Greek limited partnership is a form of business very similar to a general partnership. It is also formed by at least two members, individuals or legal entities, there is no minimum capital required, and the same procedure for creation of the general partnership applies for the limited one. The main difference consists in the liability of the partners. In a limited partnership at least one member is a limited partner, which means he or she holds liability only to the extent of his or her contribution, and at least one member is a general partner, being involved in the company's management, but having full liability to the partnership's debts and obligations.
Forming a Silent Partnership in Greece
The silent partnership is similar o a limited partnership. It is created through an informal agreement between at least two partners. One of them is the silent partner, and the other the active one. A silent partner can enter into commercial transactions, having liability limited to the amount invested, and the active partner has the capacity to acquire commercial identity, having unlimited liability.
Forming a Sole Trader in Greece
This company type addresses to smaller businesses. A sole trader owns his business directly and is fully liable for the business debts and obligations. He or she has the right to obtain profit and re-invest it in his company, and has to pay taxes.
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BridgeWest provides company formation in Greece. Our assistance includes:
> drafting the Articles of Association (necessary for the company incorporation in Greece).The Articles of Association of the Greek company can be signed thr ... [More]