THE ART OF BEING LOCAL
IN GREECE
Company formation in Greece
Setting up a business in Greece offers many opportunities in a country rich in history, culture and economic potential.Known for its breathtaking scenery, historical sites and welcoming population, Greece has become an increasingly attractive destination for entrepreneurs and investors from around the world in recent years. From the vibrant streets of Athens to the picturesque islands of the Aegean Sea, the country offers a wealth of opportunities for the establishment and development of businesses in various sectors. However, the legal, bureaucratic and cultural aspects of setting up a company must also be taken into account. They require thorough preparation and knowledge of the local conditions. Companies wishing to set up in Greece are best advised to contact InterGest Greece in advance. The company was founded in 2022 to support foreign companies in planning and realising a business base in Greece.
Dimitris Grispos is a qualified accountant (ACCA). He started his career in Investment Banking exposed to a wide range of financial services, ranging from preparing Business Plans, to supporting IPOs and MBOs/ MBIs. His next career step was to join Deloitte’s Financial Advisory Services Department, with an active involvement in services which included: Financial Due Diligence projects, Independent Business Reviews as well as many Distressed Investing projects and Restructurings. Post Deloitte Dimitris entered the M&A and Corporate Ventures scene by obtaining a fundamental role in establishing and developing an up-and-coming soft drinks company, where he served as an International CFO and Head of Strategic Partnerships. Combining his entrepreneurial and corporate background, Dimitris is a well-rounded professional in the financial services sector. Dimitris holds an MBA from London Business School and BSc in Business Management from Piraeus University.
Georgios Rossis graduated from the German School of Athens and enrolled in the Free University of Berlin (Freie Universität in Berlin) from which he received his degree in Managerial Economics and Economics on Business with honors in 1990; afterwards he attended and successfully fulfilled his postgraduate studies on Banking & Finance at the Faculty of Finance in the Free University of Berlin.
He started his career as a Financial Advisor with a leading German Data Engineering firm in Berlin. In 1995, Georgios joined the family-owned S.A. Company «Humboldt Business & Investment Consultants», with main activity the utilization of Greek state’s investment funds, grants, and subsidies through European Union support programs, acting today as its General Manager and CFO.
All these years he founded and invested in various enterprises and managed effectively several investment projects in Greece, Cyprus, Romania and the Republic of Georgia, mainly in the sector of business development in agro-investments, renewable energy sources (RES), mythological – historical theme parks as well as in medical cannabis companies.
Georgios Rossis is a member of the Economic Chamber of Greece.
WHY SHOULD
COMPANIES
INVEST IN
Greece?
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The advantages of setting up a company in Greece
Greece is not only an attractive holiday destination, but also an interesting location for business start-ups.
The country attracts companies with an attractive tax policy. Greece offers low tax rates for companies that are founded there. This enables entrepreneurs to maximise their profits.
Entrepreneurs in Greece benefit from a relatively low cost of living compared to other European countries. This also applies to labour costs, which can increase a company's competitiveness.
One advantage is the country's strategic location. Greece serves as a gateway to the Middle East and therefore offers access to important markets in the region. This can be a great advantage for companies seeking to do international business here.
Greece offers a relatively simple start-up procedure for companies. The bureaucratic hurdles are comparatively low, which can speed up entry into the Greek market.
Greece offers attractive conditions for business start-ups. From the favourable tax policy and low cost of living to the strategic location - there are many good reasons to set up a company in Greece. Let InterGest Greece provide you with expert advice. Based on a global network, InterGest Greece supports companies interested in entering the Greek market with flexible and customised services.
Challenges when setting up a company in Greece
Setting up a company in Greece also brings challenges. There are many aspects that need to be considered in order to successfully set up a company in this country.
The bureaucracy can be very time-consuming and complicated. It is important to be patient and well prepared in order to obtain all the necessary authorisations and documents.
The economic situation in Greece is not yet as stable as in other European countries. The country has been struggling with the consequences of a financial crisis in recent years, which has also had an impact on the establishment and growth of companies. It is important to be aware of the current economic conditions in the country and to take appropriate measures in order to be successful.
Cultural and language barriers play a significant role. It is important to understand and adapt to the Greek business culture in order to work effectively with local partners and authorities. InterGest Greece provides you with the right tips and important services to avoid mistakes when setting up a company.
Steps to setting up a company in Greece
InterGest Greece also helps companies to take the right steps when setting up companies and branches in Greece.
A suitable legal form should be chosen at the outset. There are various options available in Greece, including the sole proprietorship, the limited liability company and the public limited company. Each legal form has its own legal and tax advantages.
When choosing a company name, it is important to check whether it is still available. The name should be unique and meaningful in order to stand out from the competition.
Once a company name has been chosen, it is important to prepare the necessary documents and submit them to the relevant commercial register. These include the articles of association, the certificate of incorporation and confirmation of payment of the share capital.
Registering the company for tax purposes involves registering with the relevant tax authority and applying for a tax number.
Finally, it should be ensured that the company has all the necessary licences and permits to operate legally. This can vary depending on the sector and area of activity. It is therefore important to find out about the relevant requirements in advance.
Success factors for a successful company formation in Greece
Successfully setting up a company in Greece requires thorough preparation and an understanding of the success factors that can help a company thrive in this specific market environment.
One of the most important success factors is choosing the right business concept and industry. It is crucial that the chosen business idea serves a niche or offers a product or service that is in demand in the Greek market. A thorough market analysis and observation of the competition are therefore essential.
It is also very important to familiarise yourself with the local laws, tax regulations and bureaucratic processes. Greece has a complex legal environment that requires careful planning and advice to avoid potential pitfalls.
Another success factor is choosing the right location. Large cities such as Athens and Thessaloniki offer a variety of business opportunities and a well-developed infrastructure network that can support business success.
In addition to a solid business idea, legal knowledge and a suitable location, a strong network and financial resources are also very important. It is advisable to establish contacts with local companies, authorities and potential customers in order to support business growth. This also makes it possible to recruit skilled labour and well-trained employees.
Overall, successfully setting up a company in Greece involves various challenges, but these can be successfully overcome with thorough planning, preparation and a clear business strategy. By understanding these success factors and implementing them in a targeted manner, founders in Greece can achieve long-term business success.
With InterGest Greece at your side, economic expansion into Greece can pay off in the long term. InterGest Greece covers the complete range of services for setting up a foreign branch: Payroll, business process outsourcing, accounting, ongoing tax and legal advice, the day-to-day execution of fiduciary administrative work as well as reporting and controlling
Company formation with InterGest Greece
Setting up a company or branch in Greece is an attractive option for investors and entrepreneurs. Greece's strategic location provides a bridge to markets in Europe, the Middle East and North Africa, making it an ideal location for companies looking to expand their influence in these regions. Secondly, entrepreneurs in Greece benefit from a range of tax incentives and government support programmes specifically aimed at supporting innovation, investment and the development of start-ups and small to medium-sized enterprises (SMEs).
Furthermore, the Greek government has implemented reforms to improve the business environment, reduce bureaucracy and simplify the start-up and operational processes for companies. These reforms include the digitalisation of administrative procedures and the introduction of efficient mechanisms for issuing licences and permits, which significantly reduces the time and effort required to start a business.
Greece offers access to skilled and low-cost labour, along with a high standard of living and excellent quality of life, making it attractive to international talent. The dynamic start-up scene and the increasing presence of international companies are evidence of a vibrant entrepreneurial spirit and an innovative business culture.
Greece is also an attractive location for starting a business due to ongoing efforts to improve the business environment and promote innovation and entrepreneurship, making it an option worth considering.
InterGest Greece helps companies enter the Greek market with the right services: Accounting, cash and credit management, payroll, administrative services, financial reporting and reporting, CFO services, tax planning, income and VAT, consulting services, digital transformation services, SAP consulting, commercial project management, HR services, office space services and legal services.
