September 15, 2020 Tips on Starting a Business in Greece

Read about the benefits to starting a business in Greece.

Greece is one of the best locations with an enchanting atmosphere perfect for foreign investment. Greece’s economy gets better by the day, with the edge of having a propelled framework and a high ground of human capital. Greece is also a country with good positioning in the Human Development Index. The creation of connections between Greece and the Black Sea and East European nations makes Greece an excellent place to start a business. Recently, Greece’s government has decided to implement some privatization policies to benefit every individual starting a personal business in Greece. 

Seek Legal Advice  

An attorney has full knowledge of the laws and regulations that guide everything in a country. Before you set-up a business, get a business lawyer to advise you on the best structures that will e appropriate for your business. Learn about the cost, legal, tax, financial, and regulatory risks associated with the structure. A professional business attorney such as the ones at Oikonomakis Law will ensure your business complies with all the legal and obligatory regulations. He will recommend the best approaches and steps to ensure you do not break any rule while establishing your business. 

Make a Company Seal 

It is necessary to have a company seal, as all business records and books need to be sealed before the government can certify them. The business tax registration number must also be contained in the seal, and a competent tax office must seal it. Though Greece’s government abolished the requirement to make and affix company seals for corporations on May 31st, 2013, banks still require a company seal. A company seal is essential for a business in Greece, and it is necessary for the company’s certification. 

Obtain Tax Clearance form A7 from the Tax Authority 

Getting a tax clearance form A7 from a tax authority is vital for entrepreneurs willing to start a business in Greece. The tax clearance is necessary because it is a document that shows you have no outstanding tax, and you can start any business. A Tax Identification Number (TIN) is also essential to start a business in Greece. Greek citizens need to have their identity card and Tax Identification Number to start a business. European citizens require a valid passport or identity card, a tax representative in Greece. For non-European citizens, a valid passport, residence permit, and a tax representative in Greece must obtain a Tax A Identification Number. 

Get All the Required Documents 

There are lists of documents that you must have prepared before you can start registering your company in Greece. The documents required vary from state to state, but certain documents are essential regardless of how you decide to set-up your business. The required documents include; a certificate of the company’s unique name, the formation of the new business published in a newspaper, bank receipt of the minimum capital investment, and the new business by-laws containing the association’s articles. The documents must be submitted to the secretariat of the court to be issued a registration number. Once all of your documents are ready, everything else will be as smooth as butter. 

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