When examining a jurisdiction in which to incorporate, the first thing to look at is the legal code. The underlying law in Greece is civil law law. You will want to get some local advice as to how to best structure a company in Greece. One is permitted to electronically sign documents.
The country code GR is for Greece and the most common company structure in Greece is a LLC.
When setting up, budget about 4 weeks to put together the paperwork and file a LLC in GR. is 0, This means you don't have any minimum share capital. The types of cash you can use to capitalize your business is frequently any legal tender.
Yes, one is allowed to re-domicile a LLC from GR. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in GR by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is encouraged, up to 49% of the ownership of the legal entity.
A legal entity is only required to have 1 director on the board. Speaking of shareholders, corporate directors are permitted. Directors should not have an expectation of privacy, as they are not kept private in Greece. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered office is a requirement, whom the company will pay yearly, for an address which can receive litigation or other legal process on behalf of the business. Furthermore, a corporate secretary is not a requirement.
There is a requirement to file accounts to relevant authorities. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Greece, Invest In Greece Agency. Shareholders are disclosed in the Invest In Greece Agency.
Typically companies take 4 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Greece is a ok option and have given it a score of 55 as an IO score, using the Incorporations.IO proprietary formula.
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