Invest in Greece

1

Research the corporate and/or trade name of the business prior to incorporation: clearance must be obtained from the competent Chamber of Commerce before a corporate name is registered with the General Commercial Registry.

When the procedure of establishing a business is carried out electronically, through the one-stop shop electronic service of the General Commercial Registry (e-YMS), this clearance is not required but is strongly recommended.

2

Register with the competent tax and social-security authorities.

3

There are generally no limitations on the nationality of shareholders, partners and/or managers, though it is best to consider the following before proceeding with any establishment procedures or appointments:

Ensure that any foreign shareholder, partner, board member and/or administrator obtains a Greek tax registration number (AFM).
Obtain residency and/or work permits for non-EU nationals acting as executive board members and/or administrators.
Check whether a requirement to be registered with the social security authorities applies for any foreign shareholder, partner, board member and/or administrator.
Check whether foreign (non-EU national) investors must file a declaration stating their intention to reside or not to reside in Greece.

Tax Benefit

Deduction 50%of the capital contributed

Requirements

Greek or foreign tax resident investor with a Greek TIN

Investment in cash through a bank transfer

Investment in a start-up registered under Elevate Greece

Euro 300,000 maximum amount of contributions per year

Contribution to up to three (3) start-ups per year

Euro 100,000 maximum amount of contribution per start-up per year

Tax Benefit

Annual one-off income tax of Euro 100,000 exhausting Greek income tax liability on foreign-sourced income

No obligation to report foreign-sourced income in Greece

No obligation to justify the source of funds imported to Greece

Duration for fifteen (15) consecutive years

Requirements

Tax residence outside Greece for 7 out of the last 8 years

Payment of the annual tax within 30 days from the date of the application approval

Investment to be completed within 3 years

Investment in Greek assets (i.e., land, buildings, shares, AIF parts, State bonds) of a minimum value of Euro 500,000 to be transferred to a Greek bank account

Another Option

Golden Visa

Investors that do not need access to the Greek labour market may also consider the Golden Visa residence permit, which can be used through an investment either in real estate or in specific forms of securities or a term bank deposit.

Investors should complete the following procedures while establishing a business in Greece:

Angel Investors

Tax Benefit

Requirements

Lump-sum taxation regime

Tax Benefit

Requirements

Another Option