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Start A Business In Greece | Types Of Companies
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This is a very simple business entity where there is no separation between the owner and the business. It is easy and quick to establish and there is no liability protection. Sole decision making is one feature and the owner has control over business decisions as there is no separate legal entity.
Private Limited Liability Company (IKE – Etaireia Periorismenis Efthinis)
Many investors and business people chose to establish a private company (IKE) as it is a simple and flexible company structure. An IKE is established by one or more persons who owns shares. Liability is limited. The minimum capital requirement is €1 and there is an administrator (no board of directors). There are statutory audit requirements which are undertaken in line with EU directives. The legal representatives have liability and the time required for incorporation is approximately five days. This company structure is suited for small and middle sized companies who require flexibility to operate.
General Partnership (OE – Omorrythmi Etaireia)
This is a business structure where two or more people are jointly liable for losses, management responsibilities and of course profits. Each partner is personally liable for the debts and financial obligations of the business. Any creditors are able to go after the partners in their personal capacity. There is generally a written partnership agreement which dictates profit sharing, management responsibilities and other issues. Generally speaking, all of the profits (and losses) are shared equally, unless something different is specified in the agreement. There is pass-through taxation, meaning that the profits pass through to the partners personal income tax returns and aren’t allocated to the company. There are risks of personal liability for general partnerships which need to be considered.
Limited Partnership (EE – Eterorythmi Etaireia)
The Limited Partnership (EE) company is a very popular option because there is only unlimited liability for one partner. The other partners have their liability limited to their individual contributions. It provides a combination of both a partnership and corporation in terms of characteristics. The benefit from a liability perspective is that the limited partners have their liability limited. This is similar to a corporation and protects the personal assets of the limited liability partners. Most of the time, the general partners are highly active in the day to day activities and management of the company. In addition, there are same tax incentives since there is pass through taxation and the flat rate is generally chargeable for each partner. This is a useful structure for the ‘silent partner’ structure which popular in many western countries. There is no minimum capital share requirement for this entity and EEs are governed by the Greek Civil Code.
Public Limited Liability Company (AE – Anonymi Etairia)
This company type is generally suitable for larger businesses or enterprises who are looking to raise capital from the public. There is a minimum share capital amount of 24,000 euros. Given the public nature of these companies, the regulations, reporting requirements and oversight of the companies is much more extensive than for IKE companies. In addition, the shares issued in AE companies can be traded on the stock exchange. This helps enable quick access to large amounts of capital as well as increase in liquidity.
If you're thinking about starting a business in Greece, we can help! Get in touch with us and our team of experts will be happy to answer your questions.
This content has been created in collaboration with Tsaks Consulting
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How To Start A Private Limited Company (IKE) In Greece: A Step-By-Step Guide
- Separate Legal Entity:
An IKE company is a completely separate legal entity, distinct from its owners. This separation is critical from a legal and liability perspective, as it allows the company to incur debts and conduct business in its own name, offering significant protection to its members. - Scope of Members:
An IKE company can have one or more members. A single-member IKE company is known as an SMPC (Single-Member Private Company). - Company Duration:
The default duration of an IKE company is 12 years. However, this can be modified through amendments to the company’s articles. Members can also vote to extend the duration beyond 12 years. - Capital Requirements:
Only 1 euro is required to establish an IKE company, making it accessible. Contributions can be made in various forms, including non-cash assets. - Limited Liability:
Members have no financial risk beyond their contribution, except in very limited cases where administrators may be personally liable for tax or social security debts.
This content has been created in collaboration with Tsaks Consulting.
Why 2026 Is The Year To Remote Work In Greece
- The Requirement: You need to show a stable monthly income of at least €3,500 (plus a bit more if you’re bringing a partner or family).
- The Perk: Once approved, you get a residence permit that lets you live in Greece legally for up to two years, with the option to renew. Plus, for those who stay long-term, there are significant tax incentives for the first seven years.
- The Value Gap: While a central 1-bedroom now averages €650–€800, you are still getting a lifestyle that would cost triple the price in Northern Europe.
- Smart Living: By looking just a few metro stops outside the absolute center (in neighborhoods like Galatsi or Peristeri), you can still find great value while staying connected to the buzz of the city.
- Thessaloniki: The “cool younger sister” of Athens, known for its incredible food scene and a slightly more relaxed housing market.
- Chania (Crete): Perfect for those who want a slower pace and some of the best beaches in the world within a 20-minute drive.
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To dive straight into this local energy, the XpatAthens Community is an excellent place to start. As a lively hub for events and networking, it bridges the gap between local hospitality and the international crowd, ensuring that finding your "tribe" feels like a natural part of everyday life. If you'd like to hear our news and stay on top of things in the community, subscribe to our newsletter.
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