Company Formation in Greece in 2026: the IKE, EPE and AE Forms, Step by Step, Taxes and Residence Permits

Why set up a company in Greece and what it gives you

Greece in 2026 is no longer the debt-crisis country from the news of a decade ago, but a growing economy in the south of the European Union with simplified digital business registration. Setting up a company in Greece makes sense for several reasons at once, and they are far more practical than mere «tax optimisation».

What a Greek company really gives you:

• Presence in the EU and Schengen. Greece is a full member of the European Union and the Schengen area, with the euro as its currency. A company operates in the single European market without customs barriers within the EU.
• Access to the tourism and maritime market. Tourism, property rentals, shipping, the restaurant business, IT services for visitors - vibrant niches with real demand.
• 100% foreign ownership. In most sectors a non-resident can own the entire company on their own, without a local partner.
• The basis for a legal relocation. An operating business becomes one of the grounds for a residence permit and long-term residence.

It is worth being from the outset: a company in Greece is a working tool for those who genuinely operate a business, not a way to «buy status». If the main goal is a residence permit through a passive investment, then the more direct route is the Greek Golden Visa through property, which we will discuss at the end.

Company forms in Greece: IKE, EPE, AE and others

Before registering a company in Greece, you need to choose a legal form. It determines the minimum capital, the degree of liability, the management requirements and the running costs. Let us look at the three main forms plus the simplified options for micro-businesses.

• IKE (Idiotiki Kefalaiouchiki Etaireia) - a private capital company. It is a new-generation equivalent of the limited liability company and the most popular form for start-ups and small businesses. The minimum capital is from €1, the founder's personal assets are protected, transferring shares does not require a notary, and management is flexible. In 90% of cases this is exactly what foreigners choose.
• EPE (Etaireia Periorismenis Efthynis) - the classic limited liability company (LLC). The minimum capital is €4,500. Its management and decision-making rules are stricter, which is why the EPE is used less often today than the IKE.
• AE (Anonymi Etaireia) - a joint-stock company (SA). It is set up for large businesses: the minimum capital is €25,000, a board of directors is mandatory, and there are audit requirements. It suits major investment, bringing in shareholders and a potential stock-market listing.

There are also simpler forms for the smallest ventures: the sole proprietorship (atomiki epicheirisi) and partnerships (OE - general, EE - limited), but they offer no protection of personal assets, so they rarely suit a foreign owner. For most purposes the pairing of «IKE to start, AE to grow» covers almost every scenario.

Table: form - capital - what it suits

To keep the choice from being abstract, let us bring the main forms together in a single table. It is a framework for your first decision - exactly which type of company to set up in Greece for your goal.

The practical takeaway: if you are starting your first business in Greece and want to protect your personal assets with minimal outlay, choose the IKE. If you plan to bring in outside investors and scale up, look towards the AE.

Conditions and requirements: what you need to set up a company in Greece

Let us put together the basic list of what a foreigner needs to register a company in Greece in 2026. These are the minimum requirements without which the process will not get off the ground.

• The AFM tax number for each founder and manager. It is the Greek tax number issued by the AADE tax authority. Without an AFM you can neither register a company nor open an account.
• Founder and manager (diacheiristis). Neither the company's members nor the manager need to hold Greek or European residency - an AFM is enough. The manager can also be a foreigner.
• A registered address in Greece. A company needs a registered office or address. This can be leased premises or an address provided by a legal-services provider.
• Articles and incorporation documents. For the IKE - in simple written form through the single window; for the AE - with a notary involved.
• Minimum capital by form. For the IKE, from €1, and it does not have to be paid in cash up front at the start.
• Bank account of the company after registration.
• Registration with EFKA - the social insurance system.

A key point for Russian nationals and other non-EU citizens: you can own and manage a company remotely with nothing more than an AFM. But if you want to physically move to Greece and work in your own company, you will need a separate basis for residence - a national D visa and then a residence permit. More on this in the section on business-based residence permits.

AFM, bank account and EFKA: three essential pillars

Three pieces of infrastructure hold up every Greek business - the AFM tax number, the bank account and EFKA social insurance. Let us look at each, because this is precisely where foreigners most often get stuck.

AFM (Arithmos Forologikou Mitroou) - the Greek tax identification number. It is needed for virtually everything: registering a company, opening an account, buying property, signing contracts. A foreign founder obtains an AFM from the AADE tax authority in person or through a representative acting under a power of attorney. Without an AFM, not a single step is possible.

The bank account. Once the company is registered, a corporate account is opened. In recent years Greek banks have significantly tightened their client checks: they request a business plan, a description of the activity, and documents on the ownership structure and source of funds. For non-residents, and especially for citizens of countries considered higher compliance risk, the process can take time and require an in-person visit.

EFKA (e-EFKA) - the unified social insurance fund. The company is required to register with it, and the manager and employees must pay contributions. The total contribution burden is roughly 35% of the payroll (partly paid by the employer, partly withheld from the employee). This is a significant cost item that must be factored into your cost calculations.

Without these three pillars, a company cannot legally operate, pay salaries or accept payments. Setting them up is therefore not a formality but the foundation of the whole project.

Business taxes in Greece 2026: rates and burden

The tax system is what determines the real benefit of a Greek company. Let us gather the main 2026 rates that apply to business.

• Corporate tax - 22% on company profit. A flat rate for most entities.
• VAT (FPA) - 24% the standard rate. Reduced rates (13% and 6%) apply to certain goods and services, and lower rates are provided for a number of islands.
• Dividend tax - 5% when profit is distributed to members. By EU standards this is a low rate.
• EFKA contributions - roughly 35% of the salary in total (employer plus employee).
• Personal income tax - progressive, up to 44% on high incomes.

A separate topic is the special tax regimes for those who move their personal tax residency to Greece: a favourable flat tax of around €100,000 a year on worldwide income for high-net-worth individuals, and a 7% rate on foreign income for retirees. This concerns the taxation of the individual rather than the company, but when planning a business in Greece it is often considered alongside. See a detailed breakdown in our articles on corporate tax in Greece and taxes in Greece in general.

The actual tax burden depends on the structure: profit kept within the company at 22% is one thing, distributing dividends with an additional 5% is another, and a manager's salary with EFKA contributions is a third. Planning this structure well from the outset saves substantial sums.

Business in Greece for foreigners: ownership and management

One of the main questions is how freely a non-resident can own and manage a Greek company. The answer is reassuring: in most sectors of the economy 100% foreign ownership is permitted, and for ownership as such, EU citizenship or residency is not required.

What a foreign owner needs to understand:

• Holding shares. A citizen of any country can own the entire company on their own. A local partner is not required (except in certain regulated industries).
• Management. A non-resident foreigner can also be the manager (diacheiristis). Holding an AFM is enough. You do not have to live in Greece to manage the company.
• Remote ownership. You can own a Greek company and draw income from it while physically located in another country. Owning a business and moving to live in Greece are two different things.
• Non-EU citizens and relocation. If the goal is not only business but also living in Greece and working in your own company, you will need a separate basis: a national D visa and then a residence permit.

In other words, a foreigner can even set up a company in Greece remotely, but relocating on the back of that business is a separate immigration procedure that needs to be planned in advance.

A company in Greece for Russian nationals: compliance and nuances

For Russian citizens, setting up a company in Greece in 2026 remains possible and legal, but it involves heightened scrutiny from banks and registrars. This is a reality worth understanding in advance so as not to be refused halfway through.

Key points for Russian nationals:

• Enhanced source-of-funds compliance. The bank will scrutinise the origin of the capital and the ownership structure. Prepare transparent documents: where the money comes from, how the income is evidenced, and who the ultimate beneficial owner (UBO) is.
• Opening an account is harder. A corporate account for a company with a Russian beneficial owner is harder to open than for an EU citizen. An in-person visit and a detailed justification of the activity are often required.
• A Schengen visa for entry. Short-term trips require a Schengen visa; the rules have been stricter since 2022 and multiple-entry visas are limited. For residence, you obtain a national D visa.
• Strictly within sanctions law. All the work is done without circumventing sanctions or restrictions - only fully legal structures with a transparent source of funds.

With well-prepared documents and a ownership structure, a company in Greece is a workable option for a Russian national. But getting through banking compliance on your own can be hard, so professional support that addresses the bank's questions in advance is especially valuable here.

How much it costs to set up and run a company in Greece

Beyond the minimum capital, a Greek company has registration and annual running costs. A realistic picture of the budget matters more than the attractive «from €1» figure.

What the costs are made up of:

• GEMI registration fees and government fees - comparatively small, especially for the IKE.
• Lawyer and accountant services at the start - preparing the articles, filing the documents, obtaining the AFM. For a foreigner who does not speak Greek, this is de facto an unavoidable cost.
• Registered address - office rent or an address from a provider.
• Accounting support - in Greece, keeping accounts and filing reports through an accountant is effectively mandatory. This is a recurring monthly cost.
• EFKA contributions for the manager and employees - an ongoing cost.
• Taxes - corporate 22%, VAT 24%, dividends 5%.

The IKE's €1 minimum capital should not mislead you: the realistic budget for registration with professional support and for running the company in the first year is roughly several thousand euros, depending on the form, the city and the scope of services. On the other hand, running an IKE is noticeably cheaper than an AE with its audit and board of directors. We calculate a precise estimate for your specific case individually.

Business residence permit or Golden Visa: which to choose

Many people set up a company in Greece precisely in order to relocate. Here it is important to distinguish two different routes - a residence permit through an active business, and the Golden Visa through an investment.

A business residence permit. A non-EU citizen can obtain a residence permit on the basis of carrying on economic activity in Greece. But this is not an automatic bonus that comes with registering a company: you must justify a viable business plan, show sufficient funds to sustain it and prove that the activity is genuine. Often you first need to obtain a permit for the business activity and only then complete the registration. This is the route for those who are genuinely building a working business here and are ready to run it.

Golden Visa. If the main goal is to obtain a residence permit and live in Greece legally, rather than to run an operating business, then the more direct and predictable route is the investment programme. The Greek Golden Visa grants a residence permit for 5 years, renewable, and covers the whole family with a property investment (thresholds from €250,000 to €800,000 depending on the region). Minimal presence is required.

There is also a dedicated option for innovative businesses - the so-called start-up route, with an investment from €250,000 in a company registered in the national start-up registry, Elevate Greece.

The practical takeaway: if you are an entrepreneur who genuinely wants to run a business in Greece, your route is a company plus a business residence permit. If you want EU resident status through a passive investment, the Golden Visa is simpler and more reliable. Many people end up combining the two: they obtain a Golden Visa for status and, alongside it, set up an IKE for the operating business.

We will help you open a company in Greece turnkey

Registering a company in Greece as a foreigner involves a dozen linked steps: choosing a form, obtaining an AFM, preparing the articles of association, filing with GEMI, the bank account, EFKA and tax registration. A mistake at any stage brings the process to a halt for weeks. For Russian nationals there is the added layer of enhanced compliance: the bank and the registrar scrutinise the source of funds and the ownership structure.

BRIDGES GLOBAL handles the setting up and ongoing support of businesses in Greece: we select the form to fit your goal, prepare the documents, manage the GEMI registration, assist with the AFM, the account and tax and social-security registration, and, where needed, map out the path to a residence permit. Discuss your situation with a BRIDGES GLOBAL lawyer - we will tell you which form and what budget you need in your particular case.

Registering a company in Greece step by step through GEMI

Let us go through the process step by step, as it actually unfolds in 2026. The main registration goes through the GEMI unified commercial registry (Geniko Emporiko Mitroo), which operates as an online single window on the gov.gr portal under the Ministry of Development.

• Step 1. Obtaining an AFM. Every founder and manager obtains a Greek tax number from the AADE tax authority. A foreigner can arrange an AFM through a tax representative.
• Step 2. Choosing a form and preparing the articles. We decide between the IKE, EPE or AE and prepare the incorporation agreement and articles of association. For the IKE a simple written form suffices; for the AE a notary is required.
• Step 3. Filing through the GEMI single window. The documents are submitted through the electronic «single window» service. You can also proceed offline - through KEP service centres, a notary or the tax authority.
• Step 4. Registration and the company's tax number. GEMI enters the company in the registry, it receives its own AFM, is registered with the AADE tax authority and, if needed, VAT is activated.
• Step 5. EFKA social insurance. The company and the manager register in the e-EFKA system - a mandatory step for legal operation and for hiring employees.
• Step 6. The bank account. A corporate account is opened at a Greek bank, and the capital is paid into it (for the IKE, nominally from €1).

Timeframes: for an EU citizen forming an IKE, the whole process can realistically be completed in 1-2 weeks. For a non-EU founder who also needs a residence permit, the timeframe stretches to 2-3 months. It is always worth checking the current forms and services on the official government portal gov.gr.

Common mistakes when setting up a company in Greece

In our experience, foreigners are tripped up not by complex legal subtleties but by the same typical miscalculations. Let us go through them so you do not lose time and money.

• Choosing the wrong form. Setting up an AE with €25,000 of capital and an audit where an IKE would suffice means overpaying on running costs for years. And, conversely, the IKE is not always suitable for attracting large investors.
• Underestimating banking compliance. This applies especially to Russian nationals: people register a company and then spend weeks unable to open an account because they have not prepared the source-of-funds documents.
• Ignoring EFKA and accounting. Social insurance contributions and mandatory accounting support are ongoing costs that people often forget to budget for.
• Confusing «I own a company» with «I can live in Greece». Owning a company does not in itself grant the right to reside. Relocating requires a separate immigration basis.
• Budgeting only for the €1 of capital. The IKE's minimum capital is not the real project budget. The actual first-year costs are several times higher.

Most of these mistakes cost not fines but lost weeks and frayed nerves. A sound strategy from the outset - choosing the form to fit the goal, preparing for compliance, a budget calculation - saves you both.

Summary: who should set up a business in Greece, and how

Setting up a company in Greece in 2026 is an achievable task with a clear procedure. For most foreigners the ideal scenario looks like this: you choose the IKE form with capital from €1, obtain an AFM, register the company through the GEMI single window, open a bank account, register with EFKA and the tax authority - and the company is ready to operate in the EU single market.

Who it suits:

• For entrepreneurs who want to run a real business in the EU - tourism, services, IT, rentals, trade.
• For investors who need a structure for projects in Greece and Europe.
• For those planning to relocate - via a business residence permit or combined with the Golden Visa.

Some caveats: banking compliance for non-residents, and especially for Russian nationals, requires careful preparation; running a company is about more than the minimum capital; and owning a company is not the same as the right to reside. If your main goal is EU resident status through an investment, consider The Greek Golden Visa, and questions of personal tax residency in our article on Greek tax residency. The official registration services are always available on the portal gov.gr.