Greece Business Investment Visas: Corporate Structure Needs: A Complete Guide for Greece

Key Takeaways

Establishing a corporate presence in Greece for a business investment visa requires precise legal and financial structuring.

• A minimum capital injection of €400,000 is required for standard corporate investment visas.
• Foreign investors must secure a Greek Tax Registration Number (AFM) before incorporating or opening bank accounts.
• The Private Company (IKE) is the most common corporate structure for foreign investors.
• Non-resident directors face specific tax liabilities. Improper management structuring can trigger permanent establishment risks.
• Standard legal fees for setting up a Greek corporate entity range from €2,500 to €5,000, excluding state registry and notary fees.

Minimum Capital Injection Requirements

Greece offers residency by investment through direct corporate investments. Foreign investors must make a minimum capital injection of €400,000 into a Greek company.

This investment must go into an entity registered in Greece. You can form a new company or increase the capital of an existing one. Funds must transfer from a foreign bank account directly to the Greek corporate account. The Ministry of Migration and Asylum requires documentation of this capital transfer and a business plan demonstrating economic impact. Strategic investments under specific national development laws may have higher thresholds but offer expedited licensing.

Corporate Structure Checklist

Establishing a compliant corporate structure in Greece requires selecting the right entity type, drafting articles of association, and registering with the national commercial registry. Most foreign investors choose a Private Company (IKE) because it offers operational flexibility and limited liability protection. A foreign corporate entity can be the sole shareholder of an IKE, provided the parent company obtains its own Greek AFM.

Complete the following actions to structure your Greek corporate entity:

1. Appoint legal representation: Execute a notarized Power of Attorney (PoA) allowing a local lawyer to act on your behalf.
2. Select the corporate entity: Choose between a Private Company (IKE), a Limited Liability Company (EPE), or a Public Limited Company (AE). The IKE is standard for visa-seeking investors.
3. Draft articles of association: Detail the company's scope, shareholder structure, and management rules.
4. Register with GEMI: Submit the corporate documents to the General Electronic Commercial Registry (GEMI). Incorporation usually takes 3 to 5 business days after submission.
5. Open a corporate bank account: Establish a local banking presence to receive the required minimum capital injection from abroad. Compliance checks for foreign owners mean this step can take 2 to 4 weeks.
6. Register for social security: Register the appointed company administrator with the national insurance registry (e-EFKA), even if they are exempt from local contributions.

How to Obtain a Greek VAT Number (AFM)

Every foreign investor must obtain a Greek Tax Registration Number (AFM) before incorporating a company, opening a bank account, or acquiring real estate. You can apply in person at a local tax office (DOY) or remotely through an appointed legal representative.

1. Grant Power of Attorney: Draft and notarize a PoA to authorize a Greek lawyer. You can use the gov.gr portal if you have local digital credentials.
2. Appoint a tax representative: Non-EU residents must appoint a Greek resident as their tax representative. This person does not bear liability for your taxes but acts as a liaison for official correspondence.
3. Submit documentation: Your lawyer submits Form M3, Form M1, and an apostilled passport copy to the Independent Authority for Public Revenue (AADE).
4. Receive the AFM: The tax office issues the 9-digit tax number within a few business days.

Legal Due Diligence for Commercial Real Estate

Acquiring commercial real estate to house your Greek corporate entity requires legal and technical due diligence. Buyers must verify ownership history at the local Land Registry (Ypothikofylakeio) or National Cadastre (Ktimatologio) and confirm there are no unauthorized constructions.

Your legal team reviews:

• Title search: A 20-year historical search of property titles to confirm unbroken ownership and no third-party claims.
• Encumbrance check: Verification that the property is free of mortgages, liens, or legal disputes.
• Technical legality: An inspection by a civil engineer to confirm the property complies with Greek urban planning laws.
• Corporate usage zoning: Confirmation that municipal zoning laws permit your specific commercial activity on the premises.

Tax Implications for Non-Resident Directors

Non-resident directors of Greek companies pay Greek income tax only on income earned directly from their directorship duties in Greece. However, if a non-resident director exercises effective management from Greece, the foreign parent company risks triggering a permanent establishment (PE) in the country.

Board fees or management salaries paid to non-resident directors are subject to Greek withholding tax. These rates are flat, progressive, or governed by Double Taxation Treaties (DTTs) between Greece and the director's home country. Structure management agreements carefully. If the Greek tax authority determines the place of effective management is in Greece, the global income of the associated foreign corporate entities may face Greek corporate tax rates.

Estimated Legal Fees for Entity Formation

Forming a corporate entity in Greece involves notary fees, registry costs, and professional legal services. Budget between €2,500 and €5,000 for standard entity formation, depending on the corporate structure and shareholder agreements.

Expected costs for forming a standard IKE:

Common Misconceptions About Greek Corporate Immigration

Misunderstanding Greek immigration and corporate law causes costly delays during the visa application process.

• Automatic visa approval: Registering an IKE does not qualify you for residency. The law requires the actual injection of the €400,000 minimum capital into the company's bank account and approval of the business plan.
• Local residency requirements: Greek corporate law allows non-residents to act as administrators or directors of a Greek company. You do not need to be a Greek resident, though a local tax representative is required.
• Local partner rules: Foreign investors can maintain 100% ownership of their Greek company. There is no legal requirement to have a Greek partner or shareholder to start a business or apply for a visa.
• Real estate substitution: Commercial property purchases fall under the Golden Visa program, which has distinct rules and higher thresholds. The €400,000 business investment visa requires capital injections directly into the equity of an operational company, not real estate asset acquisitions.

Next Steps

Engaging local legal counsel early helps you structure a business for investment migration and comply with corporate and immigration laws. An attorney will draft your PoA, execute entity formation, navigate the commercial registry, and handle the visa application. Mistakes in capital routing or corporate structuring lead to visa rejections.

Finalize your investment strategy and business plan. Then, secure a legal representative in Greece to draft the necessary Power of Attorney. You can evaluate and connect with experienced corporate and commercial lawyers in Greece to initiate your AFM application and entity structuring.