Establishment of Subtitiaries Companies in Greece
A foreign branch has the same taxation and accounting obligations as a Greek company and its profits are taxed at the same rates that apply for domestic companies, as in Article 50 Law 2190/1920 for S.A.s and 57, 58 of Law 3190/1955 for Limited companies as well as of Law 4308/2014.
Supporting documentation for the General Commercial Registry service:
1. Decision of the foreign company to establish a branch in Greece, specifying the purpose, registered seat and trade name of the branch and the details of its legal representative.
2. Excerpt from the commercial registry of the foreign company, from which the minimum corporate capital is specified, € 4,00 for a limited liability company or € 60,000 for a societe anonyme with apostille.
3. Certificate from the competent service that the capital is fully paid up.
4. Articles of Association of the foreign company with validation by the competent authority of the seat of the apostille
5. Notarial or Consulate act of appointment of an authorized and a procedural representative of the company in Greece, who may be the same person
6. Certificate of the competent authority of the country where it is seated that the company was neither dissolved nor was its incorporation licence revoked.
7. Certificate confirming which persons represent the foreign company at its seat
8. The company’s registration number at its seat
9. EVEA [Athens Chamber of Commerce and Industry] certification for the pre-approval of the Trade Name or the Distinctive Title of the branch
10.For companies seated outside the European Union there must a reciprocal agreement with Greece on Limited Liability Companies
11. Decision related to the composition of the Board of Directors in case of S.A.s or the appointment of the administrator in the case of LLCs, with reference to the names and positions of the corresponding persons, as well as a decision for the appointment of the branch’s representatives.
12.Certificate of existence and clearance from the tax office, which shows the tax registry number with an Apostille.
13. Official translation of all documents in the Greek language.
The authorized and the procedural representative who shall be appointed and reside in Greece, must submit:
- If EU member state citizens: A photocopy of the Police Identity Card – Passport or
- If foreign citizens of a non-EU member state: Accurate copy of Residence Permit for exercise of an independent economic activity or Residence Permit as LLC managers and as Legal
Foreign S.A.s and LLCs keep third category books.
- According to the new procedures implemented since April 4th, 2011, the establishment of a branch needs initially an approval from the local competent General Commerce Registry [EVEA] and registration at the General Commerce Registry
- Following the approval of establishment of a branch is payment of the annual subscription to the local Chamber of Commerce, granting of a Tax ID Number to the company and the commencement of its activities
- The branch is managed by the legal representative who is appointed by the foreign company, is notified to the competent local General Commerce Registry and has the right to represent the branch
The legal representative is liable, as is the member of the Board of Directors of an S.A. or the manager of an LLC.