Types of Companies in Greece | 8 Entity Structures Compared

Introduction to Entity Types in GreeceCopy link to section

Greece sits at the southeastern edge of Europe, bordered by Bulgaria, North Macedonia, and Albania to the north, Turkey to the east, and surrounded by the Aegean, Ionian, and Mediterranean seas. It is an independent member state of the European Union, which means companies incorporated there operate within an EU regulatory framework and benefit from access to the single market.

Company registration falls under the jurisdiction of the General Commercial Registry (GEMI — Γενικό Εμπορικό Μητρώο), the central authority responsible for registering and maintaining records for all commercial entities. GEMI operates under the supervision of the Ministry of Development and Investment.

Greece applies a standard corporate tax regime — resident companies are taxed on worldwide income, and the country has an active network of double tax treaties.

The types of business entities in Greece available to both domestic and foreign investors include:

• Societe Anonyme (AE)
• Private Capital Company (IKE)
• Limited Liability Company (EPE)
• General Partnership (OE)
• Limited Partnership (EE)
• Branch Office
• Representative Office
• Sole Proprietorship

Each structure carries distinct requirements around capital, liability, governance, and taxation. This article examines each of them in detail.

An Overview of Business Structures in GreeceCopy link to section

Greek company law provides several distinct entity types, each governed primarily by the codified framework updated through Law 4548/2018 (for sociétés anonymes), Law 4072/2012 (which introduced the Private Capital Company and reformed partnerships), and Law 3190/1955 (for limited liability companies). Taken together, these statutes define the structural options available to both resident and foreign investors. Each form carries different rules on liability, governance, and capital requirements.

Business Structures at a GlanceCopy link to section

Each of these structures is examined in full in the sections below.

Societe Anonyme (Ανώνυμη Εταιρεία / AE)Copy link to section

The Societe Anonyme AE company Greece is governed by Law 4548/2018, which modernised the legal framework for Greek joint stock companies and replaced the previous legislation. The AE holds separate legal personality, meaning its obligations are distinct from those of its shareholders.

Shareholders bear limited liability, restricted to their capital contribution. Capital is divided into shares, which may be transferred or listed on a stock exchange, making this structure suited to larger operations or businesses anticipating external investment.

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Subject to corporate income tax at 22%, VAT at the standard rate of 24%, withholding tax on dividends at 5%, and stamp duty where applicable.
• Annual Compliance: Mandatory filing of audited financial statements with the General Commercial Registry (GEMI); statutory audit required where thresholds are met.
• Economic Substance: No formal substance regime, but board meetings and management decisions should demonstrably occur in Greece to support tax residency claims.
• Treaty Access: Greece has an extensive double tax treaty network; the AE qualifies as a resident entity for treaty purposes.
• Conversion: An AE may be converted into an IKE or EPE through a formal procedure under Greek corporate law without dissolution.

ClosingCopy link to section

The AE suits holding structures, large trading operations, and businesses seeking to raise capital through share issuance, though its mandatory minimum capital and statutory audit obligations create a higher administrative burden relative to other Greek entity types.

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Private Capital Company (Ιδιωτική Κεφαλαιουχική Εταιρεία / IKE)Copy link to section

Introduced under Law 4072/2012, the Private Capital Company IKE Greece is a hybrid corporate form designed to combine the liability protection of a capital company with the operational flexibility more commonly associated with partnerships. The entity holds separate legal personality, meaning it can own assets, enter contracts, and incur obligations in its own name.

Liability is limited to the company's assets, though the IKE structure permits members to contribute non-cash capital — including guarantee contributions and memorandum contributions — alongside standard capital contributions. This makes IKE company registration Greece a practical option for businesses where tangible capital is limited at inception.

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Subject to the standard corporate income tax rate (currently 22%); VAT registration required for trading activities; dividend withholding tax applies to distributions; no special stamp duty regime.
• Annual Compliance: Obligatory filing of annual financial statements with GEMI; annual general meeting required; statutory auditor not mandatory for small-scale IKEs below audit thresholds.
• Economic Substance: No specific substance scoring system, but a registered office and operational presence in Greece are required to maintain tax residency.
• Treaty Access: As a Greek-resident entity, the IKE is eligible for double tax treaty benefits under Greece's treaty network, subject to anti-abuse provisions.
• Conversion: An IKE may be converted into other Greek corporate forms (such as EPE or AE) under the transformation provisions of Law 4601/2019.

ClosingCopy link to section

The IKE suits early-stage businesses, startups, and SMEs that require limited liability without mandatory minimum capital, and it is also used as a holding vehicle where asset ownership flexibility is a priority. The zero share capital threshold lowers the barrier to entry, though the absence of an audit requirement for smaller entities can reduce external financial credibility with institutional lenders or larger counterparties.

Limited Liability Company (Εταιρεία Περιορισμένης Ευθύνης / EPE)Copy link to section

The limited liability company EPE Greece framework is governed by Law 3190/1955, which has been amended over the decades but remains the foundational statute for this entity type. The EPE holds separate legal personality, meaning its obligations are distinct from those of its members, whose exposure is capped at their capital contributions.

Structurally, the EPE sits between a partnership and a corporation. Membership interests are not represented by freely transferable shares; instead, they take the form of participations (μερίδια), and transfers generally require notarial documentation and registration with the General Commercial Registry (GEMI).

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Subject to 22% corporate income tax; standard VAT registration applies; dividends distributed to non-resident members attract 5% withholding tax; stamp duty may apply to certain transactions.
• Annual Compliance: Obligation to file audited financial statements with GEMI and submit annual corporate income tax returns to AADE (Independent Authority for Public Revenue).
• Economic Substance: No statutory substance requirements specific to the EPE, but actual management and control within Greece determines tax residency.
• Treaty Access: As a Greek tax resident entity, the EPE can access Greece's network of double tax treaties.
• Conversion: An EPE may be converted into an AE or IKE through a formal restructuring process under Greek company law, subject to notarial deed and GEMI registration.

ClosingCopy link to section

The EPE suits small to medium-sized trading or service businesses where ownership is closely held and full share transferability is not a priority. Its fully paid-up minimum capital requirement of €18,000 represents a higher entry threshold compared to newer Greek entity forms.

Partnerships [General Partnership / OE, Limited Partnership / EE]Copy link to section

Greek partnership structures are governed primarily by the Greek Civil Code and the Commercial Code, with procedural registration requirements updated through Law 4635/2019 and subsequent reforms. Both the Omorrythmi Etaireia (OE) and the Eterorythmi Etaireia (EE) are registered with the General Commercial Registry (GEMI) and acquire separate legal personality upon registration.

The general partnership OE and limited partnership EE in Greece sit at the simpler end of the commercial structure spectrum. Both forms are transparent for tax purposes and carry unlimited liability for at least one class of partner, making personal exposure a material consideration before selection.

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Profits taxed at the corporate income tax rate (currently 22%); VAT registration required if trading; no withholding tax exemptions available that apply to capital companies; distributions subject to dividend withholding tax at 5%.
• Annual Compliance: Annual financial statements must be filed with GEMI; accounting records maintained under Greek accounting standards (Law 4308/2014).
• Economic Substance: No specific substance requirements beyond the registered office, though tax residency depends on place of effective management.
• Conversion: Both OE and EE can be converted into a capital company (IKE, EPE, or AE) under Law 4601/2019 on corporate transformations.
• Restrictions: General partners in both forms bear personal liability, which cannot be contractually limited against third parties.

Sub-TypesCopy link to section

Omorrythmi Etaireia (OE) — General Partnership

Every partner holds full management rights and bears unlimited joint liability for the firm's obligations. This structure is typically used by small professional practices or family-run trading businesses where all participants take an active role.

Eterorythmi Etaireia (EE) — Limited Partnership

The EE introduces a two-tier partner structure: general partners manage the business and carry unlimited liability, while limited partners are passive investors whose exposure does not exceed their agreed contribution. Limited partners are prohibited from participating in management; doing so risks reclassification of their liability status.

Partnerships suit small, closely held Greek businesses where the partners know one another and accept the liability trade-off in exchange for minimal formation costs and structural simplicity. The absence of a minimum capital requirement lowers the entry barrier, but unlimited personal exposure for general partners remains a significant structural drawback for any business carrying meaningful commercial or financial risk.

Foreign Business Presence in Greece [Branch Office, Representative Office, Liaison Office]Copy link to section

Establishing a foreign company branch office Greece is governed primarily by Greek Law 4919/2022, which modernised the registration framework for foreign entities operating within the country. A branch has no separate legal personality from its parent company — the foreign firm bears full liability for the branch's obligations.

Registration is handled through the General Commercial Registry (GEMI), and the branch must appoint a legal representative resident in the country. Ongoing compliance mirrors that of domestic entities in several respects, including accounting, tax registration, and annual filing obligations.

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Branches are subject to 22% corporate income tax on Greek-sourced profits; VAT registration is required for commercial activity; profit remittances to the parent may attract withholding tax under domestic rules, subject to applicable tax treaty relief.
• Economic Substance: The branch must conduct genuine activity; a purely nominal presence risks reclassification by the Independent Authority for Public Revenue (AADE).
• Annual Compliance: Annual financial statements must be filed with GEMI; the branch must maintain Greek-compliant bookkeeping under Greek Accounting Standards.
• Treaty Access: Greece's tax treaty network may reduce withholding taxes on profit transfers, but treaty eligibility depends on the parent's jurisdiction and structure.
• Conversion: A branch can be converted into a subsidiary (such as an IKE or AE), though this requires a formal restructuring process and re-registration.

Sub-TypesCopy link to section

Branch Office

A branch conducts full commercial operations in Greece under the parent's name and liability. It can generate revenue, sign contracts, and employ staff directly — making it the most functionally equivalent structure to a local subsidiary.

Representative Office

A representative office is limited to auxiliary activities such as market research, promotion, and client liaison. It cannot conclude contracts or generate direct revenue, and its permitted scope is narrower than a branch.

Liaison Office

Setting up a liaison office in Greece restricts the entity to internal coordination functions — typically used for communication between the foreign parent and local contacts. No commercial transactions are permitted, and its activities must remain strictly preparatory or auxiliary.

When to Use This StructureCopy link to section

A branch suits foreign firms wanting direct Greek market access without incorporating a separate local entity, though full parental liability exposure is a significant structural drawback.

Sole Proprietorship (Ατομική Επιχείρηση)Copy link to section

The sole proprietorship Greece Atomiki Epicheirisi structure is the simplest form of business activity available to individuals. It is governed primarily by the Greek Commercial Code and relevant provisions of Law 4308/2014 on Greek Accounting Standards, which set out bookkeeping and reporting obligations for self-employed individuals.

Unlike capital companies, the Atomiki Epicheirisi carries no separate legal personality. The proprietor and the business are treated as a single legal unit, meaning personal assets are fully exposed to business liabilities with no liability shield of any kind.

Key CharacteristicsCopy link to section

Focus PointsCopy link to section

• Taxation: Subject to personal income tax on business profits at progressive rates up to 44%; VAT registration required if turnover exceeds the applicable threshold; no corporate income tax applies; subject to EFKA social security contributions as a self-employed person.
• Self-employed registration Greece: Registration is completed through the General Commercial Registry (GEMI) and the competent tax office (ΔΟΥ); EFKA enrollment is mandatory from day one of activity.
• Annual Compliance: Simplified or double-entry bookkeeping required under Law 4308/2014 depending on turnover category; annual income tax return filing is obligatory.
• Conversion: Can be converted into a capital company (such as IKE or EPE), though the process requires formal steps including asset valuation and new entity registration.
• Treaty Access: As an unincorporated structure with no separate legal personality, access to double tax treaty benefits is through the individual proprietor's tax residency status.

ClosingCopy link to section

The Atomiki Epicheirisi suits low-risk, low-turnover individual trading or freelance activity where administrative simplicity outweighs the need for liability protection. Its principal drawback is unlimited personal liability, which makes it unsuitable for activities carrying significant financial or legal exposure.

How to Choose the Right Entity Type in GreeceCopy link to section

Selecting the correct structure at the outset is one of the most consequential decisions in the Greece company formation process — the wrong choice produces concrete legal and financial outcomes that are difficult and costly to reverse.

Why Your Entity Choice MattersCopy link to section

• Choosing a structure without legal personality, such as a General Partnership (OE), exposes each partner to unlimited personal liability for all business debts — including those incurred by other partners.
• Selecting a structure exempt from income tax when you need access to Greece's double tax treaty network means withholding tax reductions in counterpart countries may be unavailable to your business.
• Registering a foreign branch when your operations require a fully independent legal entity leaves the parent company directly exposed to liabilities arising in Greece.
• Forming a capital company (AE or IKE) when a sole proprietorship would suffice adds statutory compliance obligations — including annual general meetings and General Commercial Registry (GEMI) filings — that generate ongoing administrative cost without a corresponding benefit.

Key Factors to ConsiderCopy link to section

• Business Activity: Active trading, passive asset-holding, and regulated sectors such as banking or insurance each point toward a different legal form under Greek law.
• Ownership and Management: Single-owner operations and multi-party ventures have structurally different governance requirements; an IKE accommodates a sole member, while an AE mandates a minimum board structure.
• Tax Objectives: Your need for treaty access, eligibility under the Greek tonnage tax regime, or qualification for the non-domicile provisions under Law 4172/2013 will narrow the viable options significantly.
• Liability Exposure: The extent to which you require a statutory liability shield determines whether a capital company structure is necessary or whether a partnership form carries acceptable risk.
• Substance Capacity: If you cannot realistically maintain employees, a physical office, and decision-making processes within the jurisdiction, structures with lower substance thresholds — such as the IKE — may be more appropriate than an AE.
• Exit Strategy: Not all Greek entity types permit conversion or redomiciliation with equal ease; confirming your likely exit path before formation avoids structural lock-in.

The primary legislation governing company formation is Law 4548/2018 on Sociétés Anonymes alongside Law 4072/2012, which governs the IKE and partnership forms. Both are available in full on the official Greek legal database.

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ConclusionCopy link to section

Selecting the right legal structure is the first binding decision in any incorporating a company in Greece guide, and it shapes everything from liability exposure to how profits are distributed. The IKE has become the most registered entity type among new businesses, largely due to its low capital threshold and operational flexibility. For larger enterprises or those seeking access to capital markets, the AE provides the framework for shareholder structures and public offerings. The EPE suits smaller, closely held operations where formal governance requirements are proportionate but limited liability remains essential. General and limited partnerships carry unlimited liability for at least one partner and are typically chosen for specific professional or family arrangements.

Regulatory oversight by the General Commercial Registry (GEMI) has become increasingly digital, reducing registration timelines. Greece's expanding tax treaty network continues to influence how multinational groups structure their Greek presence.

How Expanship Can Assist YouCopy link to section

Expanship's company formation services Greece covers the full incorporation process, from selecting the right structure — an AE, IKE, EPE, or partnership — through to registration with the General Commercial Registry (GEMI). Our team works directly with GEMI's online portal and coordinates with the relevant tax authority (AADE) to ensure your business is correctly registered and tax-identified from the outset.

Depending on your entity type and operational needs, here is what our corporate services team handles on your behalf:

• Preparation and legalization of incorporation documents
• Registered address and local agent provision in Greece
• Filing with GEMI and liaising with AADE for tax registration
• Post-incorporation compliance management, including annual obligations
• Corporate secretarial support and statutory record-keeping
• Banking introduction assistance for opening a Greek business account

Get in touch with Expanship Greece to discuss your incorporation requirements.

Frequently Asked Questions (FAQ)Copy link to section