Company Law

Main company types – characteristics and incorporation cost

 

O.E. /E.E.

Limited Liability Company

I.K.E.

S.A.

Number of members

2-unlimited

1-unlimited

1-unlimited

1-unlimited

Minimum Share capital

none

€ 30 for each founder

€ 1 for each founder

€ 24,000.00

Liability of members

Unlimited for the O.E. members

In the “E.E.” there is at least one member with unlimited liability and at least one member with limited liability

Limited

Limited

Limited

Corporate tax rates

a) For O.E/E.E with  bookkeeping of B’ category:

For the first 50.000€ 26%

For more than 50.000€ 33%

b) For O.E/E.E with bookkeeping of C’ category:

Tax rate 29%

- 29%

- Extra rate for the distribution of profits: 10%

- 29%

- Extra rate for the distribution of profits: 10%

29%

- Extra rate for the distribution of profits: 10%

Approximate cost of incorporation (without legal fees)

€ 50 incorporation cost

(for more than 3 founders,

€ 5 for each additional founder)

€ 10 GEMI registration cost

€ 10 ACCI registration cost

€ 80 (for the annual ACCI subscription)

€ 70 incorporation cost

(for more than 3 founders,

€ 5 for each additional founder)

€ 10 GEMI registration cost

€ 10 ACCI registration cost

€ 150 (for the annual ACCI subscription)

+ Notary Public’s fees for the Articles of Association (fees also depending on number of AoA pages)

€ 70 incorporation cost

(for more than 3 founders,

€ 5 for each additional founder)

€ 10 GEMI registration cost

€ 10 ACCI registration cost

€ 100 (for the annual ACCI subscription)

+ Notary Public’s fees for the Articles of Association (fees also depending on number of AoA pages), only if AoA is drafted by Notary Public

€ 70 incorporation cost

(for more than 3 founders,

€ 5 for each additional founder)

€ 10 GEMI registration cost

€ 10 ACCI registration cost

€ 320 (for the annual ACCI subscription)

+ Notary Public’s fees for the Articles of Association (fees also depending on number of AoA pages)

Approximate time required for incorporation

5-20 days upon submission of all required documents to the competent authority

5-20 days upon submission of all required documents to the competent authority

5-20 days upon submission of all required documents to the competent authority

5-20 days upon submission of all required documents to the competent authority

Other considerations

N/A

Publication date: 16/11/2015

 

Special topics:

Personal Companies Initiation

Cross border merger - implementation of Directive 2005/56/EC under Greek law

Silent partnership

I.K.E.  company acts and details subject to publicity

S.A. company acts and details subject to publicity

NEPA (Maritime Company for Pleasure Yachts)

Due diligence for the acquisition of a Greek company

Establishing an office pursuant to Emergency law 89/1967 (Law 3427/2005)

Brief practical description of main Greek company types

Liability of Board of Directors of Greek S.A. companies

Branch establishment of Credit Institutions in EU

Procedure of establishment in Greece of a foreign Limited Liability Company or Société Anonyme branch

Annulment of a General Meeting resolution of a Greek S.A. company

Increase of the share capital of a Greek S.A company

Legal framework for the licensing and operation of security service providers

Basic Differences between Greek Limited Liability and S.A. companies (Société Anonyme)

Obligation of shareholders of listed companies to report significant changes in their shareholdings

Liability of Members of the Board of Directors of a Greek S.A. towards the company

Procedure of dissolution & winding up of an S.A. company

Private Capital Company (IKE or PCC)

Setting up a branch of a foreign company in Greece

Q & A:

To which extent can a Greek S.A. company offer a general indemnification in favor of the a member of its board of directors for any third party claims?

To which extent can a Greek S.A. company waive in advance any claim it might have against a member of its board of directors?