Establishment of a Law Firm under Greek law The Articles of Incorporation include at least the purpose, the Partners,the representation, the required quorum and majority, dissolution...
Continue readingWithin one month from its registration, the company must obtain a company website indicating (in both Greek and English): a) full name and address of the shareholder/s b) contribution category of the shareholder/s (capital contributions, non-capital contributions and guarantee contributions) c) Managers (directors) of IKE (with full data) d) name of IKE e) share capital f) total amount of any guarantee contributions h) registered seat and full address of IKE i) GEMI number j) whether the company is in liquidation...
Continue reading1. Association (articles 78 of Greek Civil Code) Provisions of incorporation: a) Minimum 20 members b) Non-profit purpose...
Continue readingThose who wish to engage in commercial practice for the first time or alongside with their main activity, pursuing a common objective with at least one partner, have the option of establishing some form of company. The advantages of establishing a company are the following: a) a new legal entity is formed, with its own property and b) a contractual relationship is created between the partners....
Continue readingLaw 3777/2009 was passed in compliance with Directive 2005/56/EC issued by the European Parliament and the Council of the European Union with regards to cross-border mergers of capital companies (i.e. SA companies, limited liability companies, etc) between different member-states....
Continue readingWith articles 285-292 of Law 4072/2012, the State has for the first time attempted to regulate -even though in a loose manner- issues concerning the silent partnership, a corporate form that always used to appear very frequently in practice, but was barely regulated by Law. Due to this lack of non-exhaustive legislative regulation, the silent partnership constitutes the corporate type where the principle of contractual freedom has known its greatest implementation, with partners having the power to regulate their (internal) partnership relations totally freely....
Continue readingAt the time of the company’s incorporation, statutory provisions have to be published regarding the following matters: 1) Company name 2) Registered seat 3) Corporate object 4) Company’s duration, 5) The amount of the share capital and manner of its contribution (cash or contributions in kind) 6) Shares (number, type of shares and nominal value) 7) Corporate financial year (beginning-end) 8) Regular auditors (if any) 9) Complete information (identification data) of the Members of Board of Directors and information regarding the company’s representation. The following information has to be published during the company’s opperation: Each year: 1) The annual financial statements (balance sheet, income statement, income appropriation account and Notes). 2) The invitation...
Continue readingInformation which has to be published at the time of incorporation: 1) name of the sole shareholder or shareholders 2) inclusion in or deletion from the company name of the word “sole-shareholder” 3) the company’s website 4) appointment of a company operator 5) assessment of the partners’ capital contributions in kind 6) statutory provisions concerning the following data: i) name, surname and e-mail address of the partner ii) corporate name iii) company’s seat iv) corporate object v) the fact of the company being an IKE company vi) share capital, partners’ contributions and kind of contributionsvii) shares total viii) initial amount of the partners’ shares and the kind of contribution they represent ix) operator and...
Continue readingThe due diligence checklist below is a general (non-restrictive) list of issues that ought to be explored as part of the due diligence process. Certain points may need to be added depending on the area of business activity. Issues relevant exclusively to financial auditing have been omitted. Financials – Tax Obligations • Cash restrictions. Is cash restricted from use in any way? For example, the local bank may have issued a performance bond on behalf of the company, and has restricted a corresponding amount of the company’s cash. • Audit of compliance with tax obligations for all types of tax up to...
Continue readingArticle 1 of Emergency Law 89/1967, as amended by Law 3427/2005 allows foreign companies to establish themselves in Greece for the sole purpose of providing their central offices or undertakings affiliated with them (within the meaning of Article 42e of Law 2190/1920) not established in Greece with consultancy services, central accounting support, production quality control services for products, procedures and services, or for the purpose of preparing studies, designs and contracts, or engaging in advertising and marketing, data processing, data collection and R&D. In order for foreign companies to come within the scope of the provisions of that Law, an application...
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