Business legal forms in Greece — sole trader, IKE, EPE, AE
The main forms, neutrally
- Sole trader (ατομική επιχείρηση) — no minimum capital, no notary, registered in under an hour online. Taxed on the personal progressive scale. Simplest and cheapest to run, but your personal assets are exposed — unlimited liability.
- Private Company — IKE — limited liability, €1 minimum capital, no notary (model articles online). The dominant modern SME vehicle since 2012. Taxed at 22% corporate tax plus 5% on dividends.
- Limited Liability Company — EPE — an older limited-liability form (historic €4,500 capital), largely displaced by the IKE.
- Société Anonyme — AE — for larger or capital-raising businesses: €25,000 capital (paid before registration) and a notary required.
- Partnerships — OE / EE — general (all partners unlimited) or limited; income flows to the partners.
The neutral read
the IKE is the default for most new companies — cheap, fast, online, limited liability. The sole trader is the lightest way to start but puts your personal assets at risk. The AE suits larger ventures that need to raise capital. There’s no single “best” — it depends on liability tolerance, scale and funding needs.
Foreigner lens — who can use which
- 100% foreign ownership is allowed in the IKE, EPE and AE, for EU and non-EU founders alike. Owners and the manager need not be Greek/EU residents to own — but each founder and director needs a Greek AFM.
- EU citizens have the same rights as Greeks across all forms, including sole trader.
- Non-EU nationals can own 100% of a company, but to live in Greece and run a business — or to operate as a sole trader — they need a residence permit that allows self-employment / entrepreneurship. From abroad, they can act through a tax representative.
Remote formation
a company can be formed remotely by power of attorney (apostille + sworn Greek translation), with a Greek tax representative obtaining the AFMs and filing with GEMI. The bank account step is usually the one that still needs a video-KYC or in-person visit.
How not to get cheated
the choice of form is a genuine trade-off, not something to be upsold on. Be wary of anyone pushing an expensive AE when an IKE (or a sole trader) fits — and remember the sole trader’s simplicity comes at the price of unlimited personal liability. Get the form matched to your real liability and scale, ideally with an accountant.
Related
registering with GEMI · self-employed EFKA · business tax & VAT · AFM (tax number)
This is general information, not legal, tax or business advice. Forms and thresholds change — confirm with GEMI (businessportal.gr) and an accountant/lawyer. WTP Finance is informational only.