The Greek Private Company (IKE) - Useful Information

The Greek Private Company (IKE) is the most common way through which you can establish a company in Greece

In order to set up a Greek Private Company, there are a list of  bureaucratic and legal steps that a foreign entrepreneur  must complete.

If you want to  incorporate and register a Private Company (IKE) in Greece, you can find the basic steps on the following Article , along with a detailed summary of those procedures, and the estimated time and cost for each step.

Private Company | IKE - Useful Information

Useful Information about the Greek Private Company

  • A form of limited partnership and the capital consists of share parts.
  • Minimum capital requirements is € 1.00.
  • There is an administrator instead of the board of directors.
  • IKE is governed by its articles and memorandum of association and its accounts must be published.
  • Statutory audit requirements as per EU directives.
  • A single partner can control this form of incorporation.
  • Double entry accounting and reporting system.
  • Management’s and Partners’ Liabilities: The legal representatives (administrators) are liable with their personal property for the company’s tax and insurance obligations. In addition they are liable against third parties when the liability is proved that are made by them (administrators).
  • It  is  very  similar  to  EPE  with  the  difference  that  is  not  obliged  to  the  formalities governing the EPE, it is a more flexible to administer form of company and the setup costs are lower than EPE.
  • Needed time for incorporation: 5 working days after the needed documentation is selected

Pros and Cons about the Greek Private Company

A Private Company is subject to the same corporate tax, and in general the same taxation treatment as a SA and also as the Ltd, type of companies.

The main significant differences between PC and  the two types of companies ( SA and LTD)  is the shorter time period required for the incorporation.

The main significant difference between PC and SA is the absence of the minimum required capital for the Private Company

In the contrary the absence of minimum required capital for PC implies more reduced solvency and credit rating than SA .

Information about the Incorporation Package for a Greek Private Company

IKE – Private Company Incorporation Package

Business founders need to submit a certified copy or copies of their IDs or their passport. They also need to request to send notice to the Insurance Organization (EFKA) with regard to the company’s establishment.

  • Establishment of the company through the General Commercial Register
  • Drafting of the statute of the company (Articles of Association)
  • Drawing up of the required documentation and declarations
  • Issuance of the certificate stating the absence of tax and insurance debt, if required
  • Issuance of the TIN number for the company and the founders
  • Check of the name and the distinctive trade name
  • Submitting all the necessary documentation and declarations  in order to register the company in the General Commercial Register
  • Submitting all the necessary documentation in order to register the legal representative in the Social Insurance Registry (if needed)
  • Payment for all the provided fees required for the company establishment (General Commercial Registry, Social Insurance Registry, Chamber’s Subscription Fee etc)

Atlas Consulting Fees depends on:

  • the location
  • the business activity
  • the complexity of the business activity and company formation

Are there any Government fees on the Greek Private Company Incorporation?

Government Fees: 

The costs associated with the company formation application are as follows:

  • 100,00 euros for the annual subscription to the Companies House (GEMI)
  • 30,00  euros fees for publications (3 publications, 10 euros each)

(Different fees may apply for different Chambers)

• First year subscription fee with the Athens Chamber of Commerce: €100 (Different fees may apply for different Chambers)

Here are the services that we provide!

There are several ways of doing business in Greece even though the most famous one it the Greek limited liability company, called Private Company (IKE)!We can provide you with the necessary information in order to choose the right entity for your business needs.There are pros and cons in every occasion.

We are here to help you choose wisely the entity that suits to your business needs. Concentrate to your business growth and allow us to take good care of your company incorporation and much more!

One Stop Solution for Company Incorporation

Registered Address

Company Setup

Nominee Services

TIN for Shareholders

Tax Representation

Bank Account

All-in-one solution after the Private Company Incorporation

One central solution to cover all your business needs.

We handle all the Accounting, Bookkeeping, Tax Compliance 

& Reporting needs of the company

Would like to setup a Private company in Greece?

We are here to help you!!!

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