Starting a Business in Greece in 2026 : Costs, Steps & Requirements 

Starting a business in Greece means registering a company through Greece’s official channels, most commonly the electronic one-stop shop, e-YMS, and obtaining a Greek tax number (AFM). Company ownership itself does not grant a foreign founder the right to live or work in Greece; that depends on a separate immigration status. 

Our legal experts at Global Citizen Solutions have noticed something that tends to be a misunderstanding among clients. Incorporating a Greek company does not itself produce a residence permit or a right to work. Founders based outside Greece routinely register a company through a local tax representative without ever needing Greek residence status; it’s only living in Greece to run the business day to day that triggers the immigration question. 

This guide walks through eligibility, legal structures, the registration route, required documents, official fees, and ongoing tax and compliance obligations for founders starting a business in Greece as a foreigner. 

Starting a Business in Greece: Key Takeaways

Foreigners can 100% own a business in Greece without needing a local partner, although company ownership and the right to live or work in Greece are separate matters.   

The IKE (Private Capital Company) is the most popular structure for small-to-medium businesses and startups, but the best structure depends on liability, capital, governance, and tax considerations.  

Founders need an AFM and TAXISnet credentials before incorporating, while non-resident founders may also need a local tax representative and Power of Attorney.  

e-YMS can simplify company registration by handling GEMI, tax, and social security registrations through one digital process, although non-EU founders may need an assisted registration route.  

Company formation involves both official and professional costs, while ongoing obligations include corporate tax, VAT, withholding taxes, social security, and other applicable taxes.  

A foreign company can open a Greek branch instead of creating a new company. A branch is not a separate legal entity, does not require new share capital, and leaves the parent company fully liable for its debts and obligations. 

Yes. Greek company law allows 100% foreign ownership in most sectors. Both EU/EEA and non-EU nationals can be founders, directors, or shareholders of a Greek company. 

These three areas are often confused, but they are separate legal questions: Owning shares in a Greek company, managing the company day to day, and having permission to live or work in Greece are not the same thing. 

• EU/EEA citizens can register and run a company in Greece with the same rights as Greek nationals, without needing a separate residence or work permit. 
• Non-EU citizens can own and be listed as founders of a Greek company. However, living in Greece to operate the business requires a qualifying immigration basis, such as a long-stay (D-type) visa, a residence permit linked to business activity, or an investment-based route such as the Greek Golden Visa. The Golden Visa is available from €250,000 in qualifying real estate, funds, or an approved Greek startup and can lead to a five-year residence permit. .

 Simply registering a Greek company does not give you a residence permit or the right to work in Greece. Founders living abroad can usually register a company through a local tax representative without needing Greek residence status. 

The reverse is also true. Greece’s main residence permits are based on investment or income, not company registration. The Greek Golden Visa grants residence through qualifying investments, including real estate from €250,000, depending on the property, a €250,000 investment in an Elevate Greece-registered startup, a €350,000 investment fund, or a €500,000 bank deposit, but it does not automatically register a trading company. 

 The Greek Digital Nomad Visa and Financially Independent Person (FIP) Visa require income from outside Greece and do not allow holders to run a Greek-registered business on that basis. 

If you want to live in Greece and operate a Greek company, you will need to meet both the immigration and company registration requirements separately.

Every route to registering a business in Greece starts with the tax system. Before you can incorporate, you need: 

• A Greek Tax Identification Number (AFM), required for all business and tax purposes. 
• TAXISnet credentials, the digital login issued once you have an AFM. These are used to manage taxes and complete company registration. 
• If you are not resident in Greece, a local tax representative, such as an accountant or lawyer, to communicate with the Greek tax authorities on your behalf. 

EU/EEA citizens can generally obtain an AFM and TAXISnet access online. Non-EU citizens typically need a Power of Attorney so a local representative can apply on their behalf. 

Greece’s electronic one-stop shop, e-YMS, is designed for eligible company formations. Once submitted, it can trigger the related registry (GEMI), tax (AFM/VAT), and social security (EFKA) registrations through a single digital process. 

However, this route is not available to everyone. Greece’s digital sole-trader registration service currently lists Greek or EU nationality among its eligibility conditions. 

 Non-EU founders and other cases that fall outside these conditions register through the competent one-stop shop, a notary, or a local representative acting under Power of Attorney, rather than using the fully self-service digital process. 

Greek company formation registration process 

 If you are an individual (foreign founder)

• A valid passport, and if you are not from the EU, you will also need a visa or residence permit that allows business activity.
• A Greek tax number (AFM), which is required for all business and tax purposes.
• TAXISnet login details, which are digital credentials you receive after getting your tax number.
• Proof of your address, such as a recent utility bill or bank statement from your home country 
• A local tax representative in Greece, through a signed document or power of attorney, to handle your tax matters.

 If a foreign company is the founder (parent company)

• The company’s Articles of Association, which explain how the business is structured.
• A certificate of good standing, issued within the last 3 months, to show the company is active and not being closed.
• A board resolution, confirming that the company has approved opening a business in Greece and has appointed a legal representative.
•  A Power of Attorney, allowing a local lawyer or accountant to complete the registration on your behalf.
• A lease agreement or proof of address in Greece to show where the business will operate.
• A UBO (Ultimate Beneficial Owner) declaration, identifying any individuals who own more than 25% of the company.

• Step 1: Appoint a tax representative: If you do not live in Greece, you have to appoint a local tax representative, who can be an accountant or lawyer. This person will handle communication with the Greek tax authorities on your behalf.
• Step 2: Get a Greek tax number (AFM): You have to apply for a Greek tax number (AFM), which is required for all business activities. EU citizens can often apply online, while non-EU citizens need to provide a Power of Attorney so their representative can apply on their behalf.
• Step 3: Get TAXISnet login details: After receiving your AFM, you will get TAXISnet credentials, which are your login details for Greek government systems. You will need these to manage taxes and register your company.
• Step 4: Choose and reserve your company name: Check whether your company name is available in the GEMI (business registry) system and reserve it before continuing.
• Step 5: Prepare company documents: You need to prepare your Articles of Association, which explain how your company will operate. For small companies (IKE), you can use a simple online template, but for larger companies (AE), you will need a notary.
• Step 6: Register your company online: You can submit your application through the e-YMS system and pay a small fee.  Once approved, your company will automatically receive:
  • A business registration number (GEMI)
  • A company tax number (AFM) and VAT number
  • Registration with social security (EFKA)
• Step 7: Open a business bank account: You are required to open a company bank account and deposit your starting capital, for example, €1 for an IKE or €25,000 for an AE. This process can take 2 to 4 weeks due to bank checks.
• Step 8: Confirm social security registration: The company owner must ensure the company’s legal representative is properly registered with the Greek social security system (EFKA).
• Step 9: Declare company owners (UBO): You must register the ultimate beneficial owners (UBOs), i.e., anyone who owns more than 25% of the company. This must be done within 30 to 60 days to avoid fines.
• Step 10: Set up digital accounting: The final step is to set up your digital bookkeeping system (myDATA) and enable electronic invoicing, which is required for businesses in Greece.

To expand your business into Greece, you can open a branch through the General Commercial Registry (GEMI). A branch is not a separate company, but an extension of your main business, so you do not need to invest new share capital. However, the parent company remains fully responsible for any debts or obligations of the branch.

Starting a business in Greece is now much faster because of the online one-stop system (e-YMS). However, if you are a foreigner, the total time mostly depends on how quickly you can get your Greek tax number (AFM) and digital login details, which are needed before you can register your company.

Taxes in Greece apply to both local and foreign-owned businesses. From corporate income tax to VAT and social contributions, knowing your obligations will help you stay compliant and manage costs effectively.