EPE / LTD / LLC ("Εταιρία Περιορισμένης Ευθύνης") Incorporation Process in Greece

The process of incorporating a Limited Liability Company (LLC) or EPE (Εταιρία Περιορισμένης Ευθύνης) in Greece involves several steps, including determining partnership capital requirements, choosing the incorporation method, and submitting the necessary legal documentation. Here's an outline of the key aspects:

Partnership Capital Requirements

• No Restrictions on Capital: The partnership capital is determined by the partners with no legal restriction. The minimum nominal value of each partnership part is set at 1 Euro.
• Capital Contributions: Capital can be formed from cash contributions or contributions in kind. Contributions in kind must be assets that can be evaluated in cash.
• Uniform Nominal Value: All partnership parts must have the same nominal value.

Incorporation Methods

A limited liability company can be incorporated in one of the following ways:

1. Notarial Deed
   In this case, a notary public serves as a one-stop-shop for establishing the company.
2. Private Document
   Using the Model ΑοΑ (standard Articles of Association). The GE.MI. service (General Electronic Commercial Registry) of the competent Chamber of Commerce acts as the one-stop-shop.

Branch Office or Agency Establishment by Non-EU Companies

• A limited liability company based outside the EU must obtain approval from the competent Division for Companies of the General Secretariat of Trade and Consumer Protection/Ministry of Economy and Development or the Department of Companies of the relevant Region to establish a branch office or agency in Greece.

Cost of Establishment

The total cost of establishing a limited liability company in Greece includes:

1. Unified Fee Note (L. 4441/2016, A’227)
   Paid once to the one-stop-shop service for the company's establishment.
2. Hellenic Competition Commission Duty
   Only required for the establishment of a Company Limited by Shares (S.A.). The duty is set at 1‰ of the capital stated in the company's AoA.
3. Registration Fee
   A portion of this fee is compulsory for registering with GE.MI.. The fee for checking the company’s name and distinctive title is optional.
4. Additional Fee for Multiple Founders
   If the founders exceed 10 people, the fee is increased by €3 for each additional founder.
5. e-One Stop Shop Service
   If establishment is done exclusively through the e-One stop shop service, the cost is 30% of the Unified Fee Note. For S.A., E.P.E., and I.K.E., this amounts to €18; for O.E. and E.E., it’s €15. No extra charges are added for additional founders.

Legalization Documents for the Founders

Founders must provide the following documentation:

1. Personal Identification:
• National ID card or valid passport or another recognized travel document (with entry visa if required).
2. Declaration of Intent to Stay:
• A Statement of Responsibility as per Article 8 of Law 1599/1986, declaring the intent to remain permanently in Greece.
• A residence permit or certificate proving the application for one (if applicable).
3. Company’s Codified Articles of Incorporation:
• If the founding legal person is already registered with GE.MI., the one-stop-shop service will retrieve the Articles of Incorporation from the electronic database.
4. Corporate Decision for Participation:
• A certified copy of the decision from the relevant corporate organ or partners, stating the legal person’s participation in the company and appointing a representative for the incorporation process.
5. Legal Representative Appointment:
• A certified copy of the proxy document for the appointment of the company’s legal representative or its representative in Greece.
6. Official Translations:
• All documents must be officially translated into Greek and, if necessary, apostilled or consularized as per international treaties ratified by Greece.
7. Proof of Company’s Incorporation:
• Written confirmation from the National Register, issued within the last quarter, indicating the company's registration number and confirming that it is not in a state of dissolution, liquidation, bankruptcy, or any creditor satisfaction process.
8. Special Notarial Proxy Document:
• If the representative of the founding legal person is not the legal representative, a special notarial proxy document is required.
9. Bank Deposit Receipt:
• A receipt proving the deposit of the required capital into the company’s bank account as per Article 6.
10. Statement of Company Status:

• A statement confirming that the company has not yet acquired a tax identification number (AFM) as an “under establishment company” by the tax authority and includes the address of the company’s headquarters.

Conclusion