Greece (GR)
Greece is a southeastern European republic and EU member state, birthplace of democracy, philosophy, and the Olympic Games, celebrated for its 6,000 sun-drenched islands, ancient ruins from the Acropolis to Delphi, vibrant Mediterranean cuisine, and a warm culture that draws expats, retirees, digital nomads, and Golden Visa investors from across the world.
Capital: Athens
Region: Europe
Language: Greek
Currency: EUR (€)
Cost of living: Affordable (index 52)
Emergency: 112
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Business Setup
Start a business or go freelance in Greece.
🧑💻 Freelancer / Self-Employed Guide
Steps to register:
- 1 1. Obtain your AFM (Tax Registration Number) from a local DOY (tax office) if you do not already have one. Required before any registration.
- 2 2. Obtain your AMKA (Social Insurance Number) from KEP or EFKA if you do not have one. Required for social contributions.
- 3 3. Register your self-employment activity (κωδικός δραστηριότητας / KAD) at a local DOY or via the myAADE portal. State your business activity code (KAD) and expected annual income.
- 4 4. Register with EFKA (e-EFKA) as a self-employed person (Ελεύθερος Επαγγελματίας) at efka.gov.gr. You will be assigned a contribution class and start paying monthly contributions.
- 5 5. If your business activity is commercial (not a liberal profession), also register with GEMI (General Commercial Registry) and your local Chamber of Commerce (Επιμελητήριο).
- 6 6. Open a professional bank account or dedicate an account for business transactions — Greek regulations require separate tracking of professional income.
- 7 7. Purchase an official invoicing system (retail software with AADE certification) or use myDATA (Ψηφιακά Βιβλία AADE) — Greece now mandates electronic invoice transmission to the AADE myDATA platform in real-time.
- 8 8. Pay quarterly income tax advance payments (προκαταβολή φόρου) based on prior year income — calculated by the DOY (local tax office) and billed with your annual tax assessment.
- 9 9. File annual income tax return (Ε3 and Ε1 forms) via myAADE by June 30 each year.
Tax registration
DOY (local tax office) or myAADE portal (myaade.gr). You receive confirmation of activity registration immediately; full processing within 1–3 business days.
VAT threshold
€10,000 annual turnover. Below this threshold you may use the small business exemption (μικρές επιχειρήσεις) and not charge VAT. Above €10,000: mandatory VAT registration and quarterly/monthly VAT returns via myAADE.
Invoicing
All invoices must be transmitted electronically to AADE via the myDATA platform in real-time (or within legal deadline). Invoice must include: AFM of both parties, sequential invoice number, date, description of service/goods, net amount, VAT rate and amount (or exemption notice), total amount, IBAN or payment method. Simplified invoices (Αποδείξεις Λιανικής) for consumers must be issued via certified electronic cash register (ΦΗΜΑ) and transmitted to AADE.
Social security
Self-employed persons pay a minimum fixed monthly EFKA contribution (€218.80/month in 2026, comprising pension, healthcare, and auxiliary pension). After 5 years of self-employment, contributions scale with declared income. Self-employed are entitled to healthcare via EOPYY, pension contributions build toward retirement, but are not entitled to unemployment benefit from DYPA.
💡 Key distinction: Liberal professions (Ελεύθεροι Επαγγελματίες) — doctors, lawyers, engineers, architects, accountants, consultants, IT professionals — are exempt from Chamber registration but must be members of their professional association (bar, TEE, etc.). Commercial activities (Επιτηδευματίες) require Chamber membership. The ΙΚΕ company structure (€1 minimum capital) is increasingly popular for freelancers who want limited liability — formation takes 3–7 days online.
🏢 Business Structures
Ατομική Επιχείρηση · Ατομική Επιχείρηση / Ελεύθερος Επαγγελματίας
Sole Trader / Self-employed / Freelancer
None
Min. capital
3–7 business days
Setup time
Liability: Unlimited personal liability
Setup cost: Low — GEMI registration fee ~€70 + business activity stamp at EFKA/AADE
Best for: Freelancers, consultants, sole traders, professionals (doctors, lawyers, engineers, architects)
ΟΕ · Ομόρρυθμη Εταιρεία
General Partnership
None
Min. capital
2–4 weeks
Setup time
Liability: Unlimited joint and several personal liability for all partners
Setup cost: €150–400 (notarial deed + GEMI registration)
Best for: Small family businesses or partnerships where all partners are active managers
ΕΕ · Ετερόρρυθμη Εταιρεία
Limited Partnership
None
Min. capital
2–4 weeks
Setup time
Liability: General partners: unlimited liability; limited partners: limited to contribution
Setup cost: €150–400
Best for: Partnerships where one or more investors wish limited liability while active partners manage the business
ΙΚΕ · Ιδιωτική Κεφαλαιουχική Εταιρεία
Private Company (Greek LLC equivalent)
€1 minimum
Min. capital
3–7 days (simplified online formation available via GEMI)
Setup time
Liability: Limited to company assets
Setup cost: €600–1,500 (notary optional for this form; GEMI registration required)
Best for: Startups, SMEs, and entrepreneurs wanting limited liability without high capital requirements. The most popular new business structure in Greece since its introduction in 2012.
ΕΠΕ · Εταιρεία Περιορισμένης Ευθύνης
Limited Liability Company (ΕΠΕ)
€4,500 (minimum share capital)
Min. capital
3–6 weeks
Setup time
Liability: Limited to company assets
Setup cost: €1,500–3,000 (mandatory notarial deed + GEMI registration)
Best for: Established SMEs and professional firms. Being replaced by ΙΚΕ for most new formations due to lower cost and simpler formation.
ΑΕ · Ανώνυμη Εταιρεία
Société Anonyme / Public/Joint-Stock Company
€25,000 (fully paid up at formation)
Min. capital
4–8 weeks
Setup time
Liability: Limited to company assets
Setup cost: €3,000–6,000+
Best for: Large businesses, companies planning significant investment, raising capital, or with public shareholders. Required for certain regulated activities (banks, insurance companies).
Business Setup
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