Greek Limited Company Establishment

Legal Services
Greek Limited Company Establishment

The partner’s liability is limited to the payment of its corporate participation and its manager is protected, except in a few cases, since the company itself has the sole responsibility. Therefore, it is necessary to formulate a rational set of Articles of Association which will clearly define the relationships between the partners and the powers of the manager.

Pre-Approval of company name (Step 1)
The pre-approval of the company name, which means the registration of the brand name and the trading name of the company under establishment, is a procedure that is being coordinated by our company before the “One-Stop-Shop” service of the General Commercial Registry (GEMI).

For this purpose, we need you to provide us with the following:

  1. At least three (3) alternative company names and trading names for the company under establishment
  2. The main working activity of the branch
  3. The municipality where the branch will be registered
    (Note: The company name is limited up to 120 characters and the trading name up to 80 characters)

Before the composition of the Articles of Association (Step 2)
For the composition of the Articles of Association and for the required Power of Attorneys, we need to have from you the following:

  1. Founders’ Information
  2. Bank account and IBAN for transactions of behalf of the company under establishment
  3. Company capital and percentage of each partner per form of contribution
  4. Company shares and amount of contribution for each partner
  5. Registered offices of company
  6. Duration of the company
  7. Company purpose
  8. Full info of administrator

Composition of Articles of Association (Step 3)
After the above, the next step is the composition of the Articles of Association for the company under establishment, according to the needs of the founder and the company but also according to the legislation in force.

Publication of the branch under establishment before the “One-stop-shop” service of the Chamber (Step 4)
The publication of the branch at GEMI is a crucial obligation of the company. The publication of certain actions is a prerequisite in order to become an entity before the state and third parties. Failure or omission may, on the one hand, lead to the nullity or even the imposition of an administrative penalty against the company or the branch. On the other hand, it may cause uncertainty in relationships with third parties, such as the State, suppliers, employees, customers.

SUPPORTING DOCUMENTS FOR THE INCORPORATION OF A GREEK COMPANY BY A FOREIGN COMPANY

  1. Decision of the foreign company for the incorporation of a company in Greece specifying: ∙ the activities, ∙ the registered office (with its postal or other address), ∙ the name and ∙ the personal details (as defined in para. 2, Art.95, Law 4635/2019) of the legal representative, with an indication of the extent of his responsibilities, who may also be defined by a notarial or Consular deed (which will be signed by the legal representative of the foreign company).
    NOTE: The Legal representative, proxy, delegate and agent, who will be appointed must be the holder of a Greek TIN and must submit: a) If a citizen of an EU state : a true copy of the Police Identity Card or Passport b) If it a citizen of a non-EU state : if residing in Greece, a Residence and Work Permit is required (according to the ministerial decision Κ1-884/2012 & Κ2-4900/2014) or proof of submission of supporting documents for the Residence and Work Permit for independent financial activity or as a Legal Representative of companies, if based in Greece.
  2. Articles of Association of the foreign company, as applicable at the time of the application.
  3. Certificate of the Registry, in which the company has been registered (Certificate of Good Standing from the competent authority or the commercial Registry of the country of origin) that shows the legal form, the registered office, the capital & the management / representation of the company at its registered office.
  4. Certificate from the GCR Office of the EEA (Athens Chamber of Commerce for the pre-approval of the Name and/or the Trading name of the branch (for the pre-approval in the EEA, a fee of € 10.00 shall be paid)
  5. Application signed before the GCR Office, upon submission of the supporting documents.
    Notes: ∙ The above supporting documents shall be submitted in printed form (originals legally signed) and in electronic form (USB with pdf files). ∙ The above supporting documents, issued abroad, must have an APOSTILLE validation or validation by a consular authority and an official translation into Greek – Except for Public Documents from the Republic of Cyprus in accordance with Law 1497/27-11-1984 “Ratification of a Contract that abolishes the obligation to ratify foreign Public Documents” and Law 1548 of 17/23-05-1985 “Legal ratification, of the cooperation between the Hellenic Republic and the Republic of Cyprus in matters of civil, family, commercial and criminal law”.

Extra services

  • Constant monitoring of the company’s management: Tax representative, keeping of mandatory books, General Assembly and Board of Directors minutes, services of secretary support, reconstruction of company structure, legal affairs of the company, suggestions for Marketing and modern operation.
  • Company’s name registration.
  • Articles of Association.
  • Certificates and permits from administrative authorities.
  • Brand name registration.
  • Legal Due Diligence (company, real estate).
  • Payroll (by a suggested accounting company).
  • Tax registration (by a suggested accounting company).
  • Lease agreements.
  • Bank account.

Piperakis – Kostopoulos Law Firm has the experience and expertise to advise you and protect you in advance or after the risk has occurred. The issues raised above fall within the scope of our skills, which is a guarantee of our proper handling of the matter you entrust to us.