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Corporate and commercial law in Athens, Greece, encompasses the legal framework that governs the establishment, operation, merger, acquisition, and dissolution of companies, as well as business transactions and commercial activities. The city of Athens, as the economic center of Greece, is home to numerous domestic companies, multinational corporations, and thriving startups. Corporate and commercial law ensures that all business operations are conducted in accordance with Greek legislation, protecting the interests of companies, stakeholders, and customers. The field includes a variety of subjects such as company formation, contract law, compliance, intellectual property, employment matters, transactions, and dispute resolution.
There are many situations where seeking the advice of a corporate and commercial lawyer in Athens can be crucial. Whether you are starting a new business, expanding existing operations, entering into contracts, or facing mergers or acquisitions, legal expertise can help you navigate complex regulations and avoid costly mistakes. You may also require a lawyer if you are dealing with shareholder disputes, compliance issues, intellectual property matters, or need assistance with company restructuring. Legal guidance is vital to ensure your business activities are fully compliant with Greek and European Union laws, and that your rights and interests are protected throughout commercial dealings.
Corporate and commercial law in Athens is primarily governed by the Greek Civil Code, the Greek Commercial Code, and various specialized laws such as Law 4548/2018 on Sociétés Anonymes (SA companies) and Law 4072/2012 regarding partnerships and limited liability companies. Key aspects include:
The most common business entities in Greece are the Société Anonyme (SA), Limited Liability Company (EPE), Private Company (IKE), General Partnership (OE), and Limited Partnership (EE). Each type differs in structure, liability, and formation requirements.
To set up a company in Athens, you must select an appropriate business structure, draft and notarize the company's articles of association, register with the General Commercial Registry (GEMI), obtain a Tax Identification Number, and fulfill any sector-specific licensing requirements.
Greek law does not require a local partner or director for most business entities. Foreign nationals and companies can fully own and manage companies in Greece, although having a local representative can be useful for practical reasons.
Corporate governance obligations include holding general meetings, preparing and submitting annual financial statements, maintaining corporate books and records, adhering to internal regulations, and fulfilling reporting requirements to GEMI and other authorities.
Registration with GEMI is required before beginning business operations. This registration provides legal recognition to the company and is necessary to open a bank account, obtain licenses, and conduct commercial activity.
A notary public is involved in the drafting and authentication of articles of association, amendments, transfers of shares, and in some restructurings or mergers. The notary ensures compliance with legal formalities and registers changes with the appropriate authorities.
Greece generally allows for foreign investment without restrictions, but some sectors such as defense or energy may have additional requirements or limitations. Proper legal guidance can help identify any potential obstacles.
Business disputes can be resolved by negotiation, mediation, arbitration, or litigation in the Greek courts. Arbitration and mediation are increasingly used for commercial disputes due to their efficiency and confidentiality.
Companies in Athens must pay corporate income tax, value-added tax, and make social security contributions for their employees. Filing annual tax returns and maintaining proper accounting records are mandatory.
Greek law provides protections for minority shareholders, including rights to information, ability to challenge certain decisions, and remedies for abuse of majority power. Legal advice is important for pursuing or defending such rights.
Several organizations and governmental bodies can provide assistance and information regarding corporate and commercial matters in Athens:
If you are considering starting a business, facing a commercial dispute, or require specific legal advice in Athens, the following steps can help you proceed:
Taking these steps will help ensure that your business activities in Athens are founded on a solid legal framework and that any challenges can be addressed efficiently with professional support.
