Greek is the state's official language. The official currency is the euro.
The Republic is rich in minerals such as bauxite and lignite.
The Greek state has an active foreign policy, having concluded a large number of international treaties and having joined international organisations. It is a member of the European Union, NATO, the UN, the Council of Europe and the OSCE. Greece has double taxation agreements with a number of countries.
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Investors are interested in Greek companies mainly because of the following factors:
According to current Greek legislation, the incorporation of such companies is available to foreign persons:
Is the most common form of legal entity for large businesses. A minimum share capital of 60,000 euros is required to establish a company. Greek AE is managed by the shareholders general meeting, which appoints a body responsible for day-to-day management decisions: the board of directors.
It is a popular form of business for medium and small entrepreneurs. A minimum share capital of 18,000 euros is required to establish this type of company. The liability of the participants is also limited to a capital contribution. The General Meeting of Members ensures the management of the Greek EPE. A company may also have a single founder, however, in this case its name must include the words clarifying that its founder is one person.
Established by at least two partners, with no minimum share capital requirements and on the basis of an agreement signed by these partners. All partners have equal rights (general partners), moreover, they are fully liable for the obligations and debts of their company, i.e., including their property. They are prohibited from transferring their shares to third parties without a corresponding decision of the general meeting, under the threat of invalidating such a transaction.
Partners in limited partnerships are divided into general partners and non-general partners. The general partners have equal rights and are fully liable for the debts and obligations of the company, while the non-general partners are only liable to the extent of their shares. The company is managed by the general partners in accordance with the articles of association.
Based on an analysis of the current legislation in Greece regulating business entities, the following can be said regarding the specifics of the company registration procedure:
Greece's tax legislation is not very transparent, however, it has relatively low rates.
The corporate tax rate of 24% applies (29% for credit institutions).
The basic VAT rate is 24%. The reduced VAT rate of 13% applies to fresh produce, care for children, the elderly and disabled and accommodation in hotels or similar establishments, 6% (pharmaceuticals, theatrical performances) and 0% (domestic and international air and sea transport), among others. Dividends - 5%, Royalties - 20%.