Update notice: The Greek stock corporation (AE) was originally governed by Law 2190/1920.
This law was completely replaced, with effect from 1 January 2019, by Law 4548/2018 (the “reform of stock corporation law”). The information below reflects the currently applicable legal position.
An AE may be formed by one or more shareholders – natural or legal persons; there are no restrictions as to the nationality of shareholders or managing directors. Foreign founding shareholders must apply for a Greek tax number before the notarial deed is executed.
Share Capital
The minimum capital for forming an AE has, since Law 4548/2018, been 25,000 euros (previously 24,000 euros) and must be paid in in full; capital in excess of this amount may be paid in in full or in part. The nominal value of a share may not be less than 0.04 euros (previously 0.30 euros) nor more than 100 euros. A further central innovation of Law 4548/2018: bearer shares have been abolished – all shares must, since 1 January 2020, be registered shares. Contributions may be made in cash or in kind (e.g. land, receivables), but not in the form of services; contributions in kind are valued by an expert committee, with limited exceptions for furnishings and money-market instruments.
Formation Procedure
Formation regularly takes place online via the e-ΥΜΣ or – where the articles of association deviate from the standard form – through a notary established in Greece, who enters the required documents into the electronic system and processes all administrative steps online. Before the notarial deed is executed, prior approval of the company name must be requested from the competent chamber of commerce and industry, in order to exclude duplicate names and the risk of confusion.
Minimum Content of the Articles of Association (Art. 2 of Law 4548/2018)
- company name, corporate purpose and registered seat,
- a fixed duration of the company,
- the amount and manner of payment of the capital,
- the type, number and nominal value of the shares (which, since 2020, must exclusively take the form of registered shares),
- provisions on the convening, composition and powers of the board of directors and the general meeting,
- provisions on shareholders’ rights, accounting, distribution of profits, and dissolution and liquidation.
Registration, Review and Publicity
Following notarial certification, registration takes place in the companies register; up to a founding capital of 3 million euros, the companies register examines only the formal formation requirements, while for higher amounts of capital a review of the lawfulness of the articles of association is additionally carried out. Upon confirmation of registration, the AE acquires its own legal personality as well as a companies-register number and a tax number; publication in the Government Gazette takes place automatically via the online system, with effect against third parties arising 15 days after publication. During the formation phase, the founding shareholders who have acted on the company’s behalf are liable without limitation and jointly and severally, unless the company ratifies those acts within three months of acquiring legal personality.
Costs of Formation
- Notarial costs: approximately 1–2%, depending on the scope of the notarial deed and the number of copies issued.
- A fee for the prior approval of the company name at the competent chamber of commerce and industry.
- Registration and publication fees at the companies register (in the order of a few hundred euros).
Important: A “capital accumulation tax” on the founding capital no longer applies to company formation as of 7 April 2014 (Law 4254/2014). Since then, it has been levied only on later capital increases – and even then only at a reduced rate of 0.5% (previously 1%).
FAQ
The Greek stock corporation (AE) is today governed by Law 4548/2018 (replacing the former Law 2190/1920).
Formation may be carried out by one or more shareholders, who may be natural or legal persons. There are no restrictions as to the nationality of shareholders or managing directors. Foreign founding shareholders must apply for a Greek tax number before the notarial deed is executed.
The minimum capital currently stands at €25,000 and must be paid in in full. Where capital exceeds this minimum, the portion above the minimum may be paid in in full or in part. Contributions in kind, such as land and receivables, are permitted, but pure services are not. Contributions in kind are valued by an expert committee.
Before the articles of association are notarially certified, prior approval of the company name is requested electronically from the competent chamber of commerce and industry or via the companies register Γ.Ε.ΜΗ. This serves to avoid duplicate company names and the risk of confusion.
Under Law 4548/2018, the following are required:
- the company name (with the addition “Ανώνυμη Εταιρεία” or “Α.Ε.”);
- the corporate purpose;
- the registered seat;
- the duration of the company (fixed-term or indefinite is permitted);
- the amount and manner of payment of the capital;
- the type, number, nominal value and issue of the shares;
- provisions on the board of directors, or on the single-member body (“associate managing director”) now permitted under the new law, and on the general meeting;
- shareholders' rights, accounts, distribution of profits, dissolution and liquidation;
- particulars of the shareholders.
After notarial certification, the capital accumulation tax is paid. Electronic registration in the companies register Γ.Ε.ΜΗ. then follows. Upon registration, the AE acquires its own legal personality and receives a registration number and a tax number.
Under current law, effect against third parties in principle already arises upon registration in the companies register Γ.Ε.ΜΗ.; an additional publication in the Government Gazette that postpones effectiveness, as previously required under the former law, is no longer necessary for most transactions.
During the formation phase, founding shareholders who have acted on behalf of the company being formed are liable without limitation and jointly and severally. If the company ratifies these acts within the period set by law after acquiring legal personality, it is liable only for acts expressly undertaken in its name.
Non-binding approximate figures:
- notarial costs of approximately 1–2%;
- capital accumulation tax: 1% of the founding capital;
- registration fees at the companies register Γ.Ε.ΜΗ.;
- chamber fee for the prior approval of the company name.
The specific fee rates currently applicable should be checked on a case-by-case basis, as they are regularly adjusted.
As of June 2026. All information on these pages is provided without guarantee or liability.