Thinking about launching a business in Greece?
Whether you’re expanding your company into the EU or starting fresh as a foreign entrepreneur, Greece offers exciting opportunities—but also specific legal and tax requirements. In this practical guide, I’ll walk you through everything you need to know to set up your business the right way.
Why Start a Business in Greece?
- Strategic location between Europe, Asia, and Africa
- Access to the EU market and funding programs
- Affordable labor and office space
- Growing startup ecosystem
- High quality of life for entrepreneurs and families
Legal Steps to Register a Company
- Choose Your Legal Form
Common options for foreigners:
- Private Company (IKE) – flexible, low capital requirements
- Limited Liability Company (EPE) – suitable for partnerships
- Sole Proprietorship – simple setup for freelancers
- Branch of Foreign Company – for international expansion
Tip: IKE is often the best choice for startups and small businesses.
- Get a Greek Tax Number (AFM)
Required for all legal and financial transactions.
You’ll need:
- Passport copy
- Proof of address
- Legal representative or accountant to assist
- Open a Greek Bank Account
For capital deposit, payments, and tax obligations.
Some banks allow remote account opening with proper documentation.
- Register with GEMI (General Commercial Registry)
This is the official registry for all businesses in Greece.
Your lawyer or accountant will handle the paperwork and submission.
- Declare Your Business to the Tax Office
You’ll receive a VAT number and register for social security if applicable.
Tax Essentials for Foreign Entrepreneurs
- Corporate tax rate: 22% (2025)
- VAT (ΦΠΑ): 24% standard rate, with reduced rates in some regions
- Social security contributions: Required for employees and self-employed
- Annual tax filings: Must be submitted by a licensed accountant
Tip: Greece offers tax incentives for foreign professionals and digital nomads.
Other Considerations
- Accounting & bookkeeping: Must follow Greek standards
- Employment laws: Contracts, insurance, and labor rights must be respected
- GDPR compliance: Required for all businesses handling personal data
- Business licenses: May be needed depending on your sector (e.g. food, tourism)