Legislation of Greece

Service packages Legislation Tax System Audit Services

Tax treaties entered

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Tax Exchange Information Agreement (TIEA)

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Corporate info

Legal system
civil law
Types of entity
company limited by shares, a.e.; limited liability company, e.p.e.; general partnership, o.e.; limited partnership, e.e.; silent partnership; joint venture; single trader; branch office
Shelf companies permitted
No
Incorporation timescale for a new company
1 day
Company suffix
Anonymous Etairia (AE)
Sensitive words
Bank, Insurance, Group, words implying state sponsorship
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
accounting books, minutes of board meetings and shareholders meetings
Seal required, type of seal
yes, must contain the company’s tax registration number and competent tax office
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
3
Residency requirements for directors
No
Corporate directors permitted
No
Directors’ meetings/frequency/location
Yes / according to articles / no requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / no requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
24 000
Minimum issued share capital
24 000
Minimum paid share capital
24 000
Authorized capital payment deadlines
Within two months from the date of incorporation
Issued capital payment deadlines
Within two months from the date of incorporation
Standard currency
Euro
Standard authorized share capital
24 000
Standard par value of shares
100
Shares with no par value permitted
No
Bearer shares permitted
Yes

Taxes

Personal tax
9-44%
Сorporate tax
22%
Corporate tax (in detail)
The rate of corporate income tax is 22%
Capital gains tax
22%
Capital gains tax. Details
Capital gains are generally included in the general tax base
VAT
24%
VAT. Details
The standard VAT rate is 24%. The 13% rate applies to certain types of goods and services
Withholding tax
5% (dividend), 15% (interest), 20% (royalty)
Other taxes
State real estate tax, Real estate transfer tax, Inheritance, gift and parental gift tax
Exchange control
No
Government fee
Stamp duty
2.4%-3.6%

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
No
Publicly accessible Annual Return
No
Audit required
Yes

General information shortly

Location
Southern Europe
Total area
131.957 sq. km
Population
10.741.165 (2018)
Capital
Athens
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0,93 (2022)
Climate, average max and min t°
Mediterranean; wet winters; hot, dry summers; avg. maximum temperature (July) +32°C; avg. minimum temperature (January) +10°C
Time difference from Moscow
0 hours
Dialing code
+30
State language
Greek
Ethnic groups
Greek 93%, other (foreign citizens) 7%
Literacy rate
99%
History
The history of Greece history stems from the ancient times and is fully described in the Greek myths. Not only does it encompass the history of the territory of the modern state of Greece, but also that of the Greek people and the areas they ruled historically. The scope of Greek habitation and rule has varied much through the ages. History of today’s Greece begins in 1829 when independence from the Ottoman Empire was achieved. During the second half of the 19th century and the first half of the 20th century, it gradually expanded its territory to the neighboring islands, most with Greek-speaking populations. In World War II, Greece was first invaded by Italy (1940) and subsequently occupied by Germany (1941-44). In 1952 Greece joined NATO. In 1967, a group of military officers seized power, establishing a military dictatorship that suspended many political liberties and forced the king to flee the country. In 1974, democratic elections and a referendum created a parliamentary republic and abolished the monarchy. In 1981, Greece joined the EC (now the EU); it became the 12th member of the European Economic and Monetary Union in 2001.
Credit rating
BB
Government type
Parliamentary republic
Executive branch
Governmeny headed by Prime Minister
Legislative branch
unicameral Parliament (300 members)
Judicial branch
Areopagus (Supreme Court), ephetaes (courts of appeal), first courts (courts of first instance) and magistrate courts (courts below)
Unemployment
16,4% (2020)
GDP per capita rank
56 (2020)
Corruption perceptions index rank
49 (2021)

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