Should I set up an ΙΚΕ or an ΑΕ in Greece?
For most small and medium-sized businesses an ΙΚΕ is simpler: limited liability, a much lower capital requirement and flexible contributions. An ΑΕ requires at least €25,000 of fully paid share capital and a board of directors (or, for a small company, a sole director), and suits companies that expect investors or larger financing. The right answer depends on your plans.
What is the minimum capital for a Greek company?
An ΑΕ needs a minimum share capital of €25,000, fully paid up. The capital requirement for an ΙΚΕ is much lower. In a general partnership (ΟΕ) the partners are personally liable for its debts without limit.
How are shares in a Greek company transferred?
ΙΚΕ company parts are transferred in writing; the transfer takes effect towards the company once it is notified and towards third parties from its entry in the register of partners. Registered shares in an ΑΕ are transferred by entry in the shareholder register. The articles may add conditions, so they must be checked first.
Does an acquisition need approval from the Competition Commission?
Only above certain thresholds: where the combined worldwide turnover of the parties is at least €150 million and at least two of them each have turnover in Greece above €15 million. Below those thresholds, as a rule, no notification to the Hellenic Competition Commission is required under Law 3959/2011; transactions with an EU dimension are notified to the European Commission instead.
Do you work with foreign companies and investors?
Yes. We advise foreign companies and investors setting up, acquiring or restructuring a business in Greece, and we work in both English and Greek.
