Entity Formation in Greece (IKE)

Ready for a permanent Greek presence? We help you incorporate an IKE the right way, and stay alongside you for the accounting, payroll, and compliance that follow. Independent advice, including telling you when it is too early.

  • Independent advice
  • Vetted partners
  • Honest Timing

What forming an IKE in Greece means

A IKE (Idiotiki Kefalaiouxiki Etaireia (Private Company)) is Greece’s private limited company, the standard vehicle for a permanent business presence. When you form one, you become the legal employer and operator in Greece, with full control and no per-employee EOR fees, in exchange for the setup time, the minimum capital, and the ongoing obligations.

01

Your own company

A IKE makes you the legal employer and operator in Greece, with full control of employment terms and a local brand presence.

02

Lower cost at scale

No per-employee EOR fees. For permanent, proven headcount, owning the entity is more cost-effective than ongoing EOR arrangements.

03

Setup takes weeks

Incorporation typically takes one to three weeks, and you cannot employ anyone until it completes. Timing the move matters, which is why many companies bridge with an EOR first.

How forming an IKE works, step by step

From structuring the company to operating it compliantly.

01 — Structure & prepare

We confirm an IKE is right for you, then prepare the incorporation documents, arrange notarisation, and set up your registered Greek address.

02 — Capital & notarisation

Share capital (EUR 1, with at least EUR 1 paid up) is deposited, and the company is entered in the commercial register (GEMI).

03 — Register the company

Corporate tax and tax accounts are set up with the AADE, so you can operate and employ compliantly.

04 — Operate & stay compliant

Business bank account, then ongoing accounting, payroll, filings, and annual reporting, all of which we can run for you.

What forming an IKE in Greece costs

Two kinds of cost: the one-off formation (including minimum share capital of EUR 1, since the IKE (private company) introduced under Law 4072/2012 requires no minimum capital and each share need only be worth EUR 1) and the ongoing operating obligations. We give you a clear figure before you commit.

Share capital & formation

Minimum share capital is EUR 1 (at least EUR 1 paid up). This is equity you own, not a fee. Plus state registration and any notary or e-signature costs.

Corporate tax

22%

VAT

Standard VAT rate 24%, with registration mandatory from your first taxable transaction (Greece has no general registration threshold); a limited exemption from charging VAT exists only for businesses under EUR 10,000 annual turnover.

Ongoing obligations

Accounting, monthly payroll (income tax and social insurance), VAT and corporate tax filings, and annual financial statements, all of which we can manage for you.

Why form your Greek IKE through Bradford Jacobs

Why companies incorporate in Greece through us rather than a one-off formation agent.

We advise you on the best time to incorporate

We are independent: we assess what you actually need, place you with the right vetted partner, secure pricing you will not get going direct, and stay on your side to escalate or renegotiate. You get advice, not a product pitch.

  • Independent advice
  • Vetted partners only
  • On your side at renewal

End-to-end, not just the paperwork

We do not disappear after registration. We stay on for the accounting, payroll, and compliance, so your IKE runs, not just exists.

  • Beyond registration
  • Ongoing compliance
  • One team throughout

The right specialists, in place

Notary, tax, and accounting partners we have vetted and worked with, coordinated for you, so the process moves and nothing gets missed.

  • Vetted specialists
  • Coordinated for you
  • Nothing gets missed

Two decades of formations

Two decades forming and running entities across Europe. A Greek IKE can be formed by a single person and approved through GEMI’s one-stop shop in as little as one to three business days once the filing is clean. Getting it clean on the first submission, not the second, is what two decades of doing this buys you.

  • IKE formations
  • Notary & tax partners
  • Traps avoided

We run it after you form it

Incorporation is the start, not the finish. We stay on for accounting, payroll, tax filings, and annual accounts, so your IKE operates from day one without you building a local finance function.

  • Full back office
  • Accounting & payroll
  • Annual accounts

The IKE pitfall nobody mentions upfront

A growing business hits a good quarter and someone says, let us just set up a proper Greek company. It sounds responsible. It usually is not, yet. Here is what people expect against what happens in practice.

Employment & payroll obligations

Expectation: it takes a few weeks and is just admin. Reality: incorporation runs through notarisation and commercial register entry and takes weeks, minimum share capital of EUR 1 must be addressed (at least EUR 1 paid up), a registered Greek address and director obligations apply, and you cannot legally employ anyone in the gap.

Tax, filing & reporting obligations

Expectation: we can always reverse it. Reality: dissolving an IKE needs a shareholder resolution, creditor notification, and a winding-up period. And once it exists, the obligations do not stop: annual financial statements, monthly income tax and social insurance filings, corporate and trade tax returns, and director liability. None of this is a reason not to form an IKE. It is a reason to form it at the right

What we handle for your IKE

Beyond incorporation, we can run the full back office for your IKE.

Compliant payroll

Compliant Greek payroll and employment administration, issued and maintained for you.

Payroll & filings

Monthly payroll run, with income tax and social contributions calculated, withheld, and filed each month.

Statutory benefits

All statutory benefits administered: annual leave, sick pay, parental leave, notice and severance.

Compliance & support

Ongoing HR compliance and a single point of contact, for the life of the engagement.

Forming an IKE in Greece: your questions answered

Straight answers on forming and running an IKE in Greece.

How long does it take to form an IKE?

Usually one to three weeks once documents, share capital, and the registered address are in place, longer with any complication. You cannot legally employ anyone until registration completes, which is why timing matters and why many companies bridge with an EOR first.

Minimum share capital is EUR 1, with at least EUR 1 paid up. This is equity you own, not a fee. The other real cost is the ongoing accounting and compliance, which we can run for you.

Yes. A IKE can be fully owned and directed by non-residents. You will need a registered Greek address and to complete notarisation and the commercial register (GEMI) filing, all of which we arrange.

Form an IKE when you have permanent, proven headcount and want full control, and the per-head savings justify the ongoing costs. Use EOR while you are still validating the market or need people working quickly. Most companies start with EOR and incorporate later. We advise on the crossover.

Accounting, monthly payroll (income tax and social insurance), corporate and trade tax filings, VAT, and annual financial statements. We can run all of it so the entity stays compliant without you building a local finance function.

Yes, and it is how most companies use us. Beyond incorporation we provide ongoing accounting, payroll, and compliance, so your Greek IKE operates smoothly from day one without hiring locally for back office.

Ready to form your company in Greece?

Tell us your plans for Greece and we will tell you honestly whether now is the time to incorporate, then handle it end to end if it is, usually scoped within a day. No formation-mill upsell, just the right call.

Tax, company, and labour data verified June 2026 (official Greek sources, PwC). Figures change; we confirm the current position when we scope your formation.