Introduction to setting up a Greek branch
Greece is welcoming to foreign investment, imposing few restrictions on non-domicile businesses.
The country has excellent business links with the Balkans, and establishing a Greek branch can take advantage of this in terms of increasing exposure and global presence.
The procedures involved in branch formation are more complex than those required for a company, and this is reflected in the respective timescales.
What are the formalities regarding Greek branches?
- A copy of the Memorandum & Articles of Association of the parent company
- A copy of the parent company’s Certificate of Incorporation
- A copy of the parent company’s Certificate of Good Standing
- The Power of Attorney for the Managing Director of the branch
- Resolution of the parent company to establish the branch
- A representative of the Greek branch – if a non EU citizen, a Greek residential permit may be required
There is no requirement for any share capital. The documents detailed above are required for registration of the branch with the Greek Chamber of Commerce and Industry.
All required documentation must be officially apostilled and translated into Greek by a certified translator or lawyer.
What are the accounting requirements for a Greek branch?
The branch must register with the relevant Tax Office in order to obtain a VAT number – also used as the Tax I.D. This is required for taxation purposes.
VAT returns are required to be filed quarterly and tax accounts annually filed.
A Greek bank account for the branch is also required.
Please visit our partners Accountancy In Europe for further information on accountancy and tax rates in Greece.
What office facilities are available when registering a branch?
In Greece the minimum office requirement for branches is a physical office, including telephone, fax and mail facilities. There is no lawful provision of virtual offices.
If the business activities of your branch involve the provision of services we can accommodate you within our own office space, otherwise we will provide you with a separate, standalone physical office.
Branch formation packages
We will handle every aspect of the branch formation process for you. Using our wealth of experience in European formation requirements we can offer a branch formation package that takes care of requirements such as branch and VAT registration on your behalf.
Our accomplished team can also offer formation packages to set up multiple branches. Just as with single branches, we will manage the formation process from start to finish, so all you need to do is reap the benefits of client security and new business from the local area.
For further information please send an enquiry or contact us using the form below.