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Company Formation.

The beginning is the most important part of the work.— Plato
If you're considering starting a new business or restructuring an existing business, you will want an attorney with experience, skill and knowledge in choosing the best legal structure for your new entity. One who will carefully examine your business and your goals, taking into consideration the tax consequences and protection of your interests. The attorneys at Makris Law Office have the skills and experience you are looking for.

There are several types of commercial companies under Greek law, therefore a suitable legal structure must be chosen before setting a company in Greece. A company limited by shares or stock corporation (AE), a limited liability company (EPE), a general partnership (OE), a limited partnership (EE) or a private capital company (IKE), are the options.

  • S.A. Company is always a commercial company and legal entity.
  • The shareholders may be individuals who are Greeks or foreign residents, or a legal entity.
  • Shareholders are not personally liable for the company’s debts.
  • The minimum capital for forming a S.A. is 25.000€. The entire amount has to be deposited to the company’s bank account by the time the company is formed and registered, i.e. it’s not a nominal capital. Shares are classified as registered shares (nominal shares), common shares , preference shares and redeemable shares. The company is entitled to issue other assets, such as bonds and warrants.
  • The company is managed by the board of directors (minimum of 3 members) or under specific circumstances by one person (single member) and the shareholders’ general assembly.
  • A S.A. is formed before a notary, who certifies the company’s Constitution signed by the founder(s) or by a private document
  • E.P.E. is always a commercial company and a legal entity.
  • The shareholders may be individuals who are Greek or foreign residents, or a legal entity.
  • E.P.E. can have just one member, but in this case, the natural person or legal entity may not be a single – partner of more than one E.P.E.
  • The shareholders’ liability is limited to the sum of capital invested.
  • There’s no minimum capital required for setting –up an E.P.E. Each is responsible only up to the amount of its corporate share, which is represented by shares and cannot be transferred unless all the partners agree.
  • E.P.E. is managed by its administrators and the partners’ assembly. The administrators represent the company against third parties and act on its behalf with regard to its actions. They are elected by the company’s partners at a meeting or they are appointed by the company’s Articles of Constitution.
  • E.P.E. combines the advantages of general partnerships and anonymous companies, while it does not have any difficulties in establishing and dissolving it, nor does it require large funds in relation to anonymous Companies and at the same time the shareholders’ liability is restricted.
  • I.K.E. is a legal personality and is commercial too, even if its purpose is not a commercial enterprise.
  • I.K.E. is recommended by one or more natural or legal persons (founders). In case, there is only one natural or legal person as a founder, then the name of the company consists of the mark ‘ Single Member Private Company’
  • The capital of the I.K.E. is determined by the partners without limitation and it is divided in shares. It may even be zero and the founders contribution shall be capital ones, non- capitals and quarantees
  • The company’s assets are only liable to the third parties for the company debts. In case that the founders have contributed only a guarantee levy, they are responsible up to the amount that is stated to the company Statute.
  • The management and the representation of the company is commissioned jointly by its partner, unless it is agreed differently in the company’s Articles of Association
  • It is established and modified by a simple private document, unless a notarized agreement is required by special law provisions.
  • Ο.Ε. is a legal person.
  • O.E. is founded by at least two persons, whether individuals or legal entities. Noted that if the OE becomes a single member one during its operation, within 4 months, the entrance of a new partner shall be registered. Otherwise, the company is solved.
  • All partners of an O.E. are fully liable with their personal property for the losses and debts of the partnership.
  • O.E. may be formed either by private agreement or by public contract.
  • Each partner takes part in the management of the partnership affairs. The partners, however, may appoint one or more of them in the statutes as managers.
  • There is a minimum nu. of two (2) partners
  • E.E. is founded by at least two persons, whether individuals ore legal entities.
  • At least one of its partners is personally liable for the liabilities of the company, but other partners may participate as sponsors, their liability being limited up to the sum invested. There’s no minimum capital required for setting – up an E.E.
  • E.E. may be formed either by private agreement or by public contract.
  • Only fully liable partners take part in the management of the partnership affairs, not sponsors.
  • There is a minimum nu. of two (2) partners
Limited Company - (S.A.)
  • S.A. Company is always a commercial company and legal entity.
  • The shareholders may be individuals who are Greeks or foreign residents, or a legal entity.
  • Shareholders are not personally liable for the company’s debts.
  • The minimum capital for forming a S.A. is 25.000€. The entire amount has to be deposited to the company’s bank account by the time the company is formed and registered, i.e. it’s not a nominal capital. Shares are classified as registered shares (nominal shares), common shares , preference shares and redeemable shares. The company is entitled to issue other assets, such as bonds and warrants.
  • The company is managed by the board of directors (minimum of 3 members) or under specific circumstances by one person (single member) and the shareholders’ general assembly.
  • A S.A. is formed before a notary, who certifies the company’s Constitution signed by the founder(s) or by a private document
Limited Liability Company (E.P.E.)
  • E.P.E. is always a commercial company and a legal entity.
  • The shareholders may be individuals who are Greek or foreign residents, or a legal entity.
  • E.P.E. can have just one member, but in this case, the natural person or legal entity may not be a single – partner of more than one E.P.E.
  • The shareholders’ liability is limited to the sum of capital invested.
  • There’s no minimum capital required for setting –up an E.P.E. Each is responsible only up to the amount of its corporate share, which is represented by shares and cannot be transferred unless all the partners agree.
  • E.P.E. is managed by its administrators and the partners’ assembly. The administrators represent the company against third parties and act on its behalf with regard to its actions. They are elected by the company’s partners at a meeting or they are appointed by the company’s Articles of Constitution.
  • E.P.E. combines the advantages of general partnerships and anonymous companies, while it does not have any difficulties in establishing and dissolving it, nor does it require large funds in relation to anonymous Companies and at the same time the shareholders’ liability is restricted.
Private Capital Company (I.K.E.)
  • I.K.E. is a legal personality and is commercial too, even if its purpose is not a commercial enterprise.
  • I.K.E. is recommended by one or more natural or legal persons (founders). In case, there is only one natural or legal person as a founder, then the name of the company consists of the mark ‘ Single Member Private Company’
  • The capital of the I.K.E. is determined by the partners without limitation and it is divided in shares. It may even be zero and the founders contribution shall be capital ones, non- capitals and quarantees
  • The company’s assets are only liable to the third parties for the company debts. In case that the founders have contributed only a guarantee levy, they are responsible up to the amount that is stated to the company Statute.
  • The management and the representation of the company is commissioned jointly by its partner, unless it is agreed differently in the company’s Articles of Association
  • It is established and modified by a simple private document, unless a notarized agreement is required by special law provisions.
Partnership (O.E.)
  • Ο.Ε. is a legal person.
  • O.E. is founded by at least two persons, whether individuals or legal entities. Noted that if the OE becomes a single member one during its operation, within 4 months, the entrance of a new partner shall be registered. Otherwise, the company is solved.
  • All partners of an O.E. are fully liable with their personal property for the losses and debts of the partnership.
  • O.E. may be formed either by private agreement or by public contract.
  • Each partner takes part in the management of the partnership affairs. The partners, however, may appoint one or more of them in the statutes as managers.
  • There is a minimum nu. of two (2) partners
Limited Partnership (E.E.)
  • E.E. is founded by at least two persons, whether individuals ore legal entities.
  • At least one of its partners is personally liable for the liabilities of the company, but other partners may participate as sponsors, their liability being limited up to the sum invested. There’s no minimum capital required for setting – up an E.E.
  • E.E. may be formed either by private agreement or by public contract.
  • Only fully liable partners take part in the management of the partnership affairs, not sponsors.
  • There is a minimum nu. of two (2) partners