How do I register a sole proprietorship in Greece and obtain AFM, VAT, and GEMI entries?

We need the following information for the establishment of a Greek company.
 

 

1. Who will be the shareholder/s of the company. We need the passport of the shareholder/s , parents names-surnames, profession, home address.

Moreover we will need Power of Attorney (PoA) from the shareholder for the company establishment and the issue of Greek tax id which is obligatory since the client will open a company in Greece.

 

2. If there are more than one shareholders, we need the percentage of the shares that each one will hold.

 

3. The name of the company and its distinctive title

 

4.  What type of company will the client establish? We suggest IKE =PRIVATE LIMITED COMPANY which is more flexible and less expensive.

 

5.  Who will be the director of the company? (It can be also the shareholder)

Does the client hold any Greek residence permit?

6. What is the scope of the company, what activities will the company have?

7. How much will be the share capital of the company? There is no limit, the share capital for IKE can start from 1 eur, but we always suggest to our clients to calculate the annual expenses of the company maintenance , so that they put as capital this amount, to avoid the taxation 0.5% for the capital increase in the future. Cause when you establish a company there is 0% tax in the capital.

If we have this information , we prepare the articles of association and you send it to the client for his/her approval. Then we can proceed with the establishment of the company, which can be concluded within 2 working days.

After the establishment of the company , we can open a Greek bank account for the company, (which is required obligatorily) .

Within one month from the establishment, we should verify and upload a certificate in the commercial chamber that the share capital of the company has been submitted to the company's account. We do this action and it' s included in our legal fee . Plus we submit the information of the shareholders in the tax registry, as it is required also by the law. This is also included in our fee.

 Please note that the company should hire an accountant for the monthly book-keeping. The accountant's fee for IKE companies can start from 300 eur -350 eur plus vat 24% , depending on the size of work.

The tax rate for companies is 22% on the net profit. The dividend tax is 5%. 

We can schedule a call to discuss further about the company formation.

At your disposal for any further questions .

 

Theodoros Spanos

We need the following information for the establishment of a Greek company. 1. Who will be the shareholder/s of the company. We need the passport of the shareholder/s, parents names-surnames, profession, home address. Moreover we will need Power of Attorney (PoA) from the shareholder for the company establishment and the issue of Greek tax id which is obligatory since the client will open a company in Greece. 2. If there are more than one shareholders, we need the percentage of the shares that each one will hold. 3. The name of the company and its distinctive title. 4. What type of company will the client establish? We suggest IKE = PRIVATE LIMITED COMPANY which is more flexible and less expensive. 5. Who will be the director of the company? (It can be also the shareholder) Does the client hold any Greek residence permit? 6. What is the scope of the company, what activities will the company have? 7. How much will be the share capital of the company? There is no limit; the share capital for IKE can start from 1 euro, but we always suggest to our clients to calculate the annual expenses of the company maintenance, so that they put as capital this amount, to avoid the taxation 0.5% for the capital increase in the future. Because when you establish a company there is 0% tax in the capital. If we have this information, we prepare the articles of association and you send it to the client for his/her approval. Then we can proceed with the establishment of the company, which can be concluded within 2 working days. After the establishment of the company, we can open a Greek bank account for the company, (which is required obligatorily). Within one month from the establishment, we should verify and upload a certificate in the commercial chamber that the share capital of the company has been submitted to the company's account. We do this action and it’s included in our legal fee. Plus we submit the information of the shareholders in the tax registry, as it is required also by the law. This is also included in our fee. Please note that the company should hire an accountant for the monthly book-keeping. The accountant's fee for IKE companies can start from 300 eur - 350 eur plus VAT 24%, depending on the size of work. The tax rate for companies is 22% on the net profit. The dividend tax is 5%. We can schedule a call to discuss further about the company formation. At your disposal for any further questions.

Thank you for contacting I.E. Papaioannou & Associates regarding establishing a consulting business in Athens. This overview explains the typical steps, timeframes, and public fees for: 1) registration as a sole proprietor; 2) obtaining a Tax Identification Number (AFM); 3) VAT registration; and 4) GEMI enrollment.

1. AFM (Tax Identification Number) – if you do not already have one
If you already have a Greek AFM you can skip this step. Otherwise, the AFM is issued by the tax authorities (AADE) and is now obtained primarily through gov.gr. Online request via gov.gr: service 'Attribution of Tax Identification Number (AFM) and key to natural person'. You complete an electronic application with your personal details and upload ID/passport and any required supporting documents. Identification can be via video call (myAADElive) or by visiting the competent tax office in person, on the basis of your address in Athens or via an authorised representative with a power of attorney. Issuance: the AFM is normally issued immediately on approval and sent to your email together with access credentials for the online tax platform (Taxisnet). State fees: none for the AFM itself.

2. Starting the sole proprietorship & VAT registration (AADE)
The commencement of business as a sole proprietor and your VAT registration are handled together through gov.gr under the procedure Start a sole proprietorship. Basic prerequisites: valid AFM and Taxisnet codes; age 18+ and EU citizen (third-country nationals may have different rules); registered business address in Greece (for Athens: lease contract submitted to AADE via myAADE, or title deed if the property is yours).
Online declaration (Form D211) – commencement & VAT: Through gov.gr you complete the D211 declaration, which covers personal data (linked to your AFM), business details (business name, seat, activity codes for consulting services), and VAT status (whether subject to VAT under the normal regime or eligible for a small-business VAT exemption if turnover is below €10,000).
Once submitted and accepted: you receive your Commencement of Business Certificate electronically, confirming both the start of your sole proprietorship and your VAT registration (or exemption status). State fees for commencement & VAT: none for starting a sole proprietorship.

3. GEMI registration & Chamber enrollment
After AADE commencement, your data are used for GEMI registration of the sole proprietorship. The GEMI number is issued upon completion of the steps via the GEMI portal. You may need to log in, confirm details, and pay GEMI registration/annual maintenance fees (roughly €30–€60 per year, depending on category and local chamber decisions).
Chamber of Commerce / Professional Chamber: For consulting activities in Athens you are normally registered with the competent Chamber (often the Professional Chamber of Athens or the Athens Chamber of Commerce & Industry). Registration is carried out after you have the AADE commencement document, by submitting an application and a copy of the commencement certificate (and ID).
Indicative fees (public side): GEMI registration/annual maintenance about €30–€60 per year; Chamber membership typically €20–€60 per year. We would confirm exact current amounts for your specific activity and chamber before filing.

4. Usual timeframe
The online portals are fast, but total practical time depends on the specific tax office and GEMI/Chamber workload. AFM issuance: usually same day once you have an appointment and your documents are complete. Digital start of sole proprietorship & VAT registration: gov.gr procedure has an estimated digital completion time of about 10–15 minutes; AADE processing usually 1–3 working days. GEMI & Chamber registration: often finalised within a few days, but may vary by chamber. Overall: for a standard case with complete documentation and guidance from tax/accounting sources, roughly 2 working days to 2 weeks from first step to having everything in place (AADE, VAT, GEMI, Chamber).

5. Other ongoing costs to keep in mind
Social security (e-EFKA) – mandatory insurance contributions as a self-employed professional, payable monthly, with a statutory minimum class. Accounting support – most sole proprietors retain an accountant for VAT returns, income tax and GEMI/Chamber filings; fees depend on transaction volume and complexity.

6. How our firm can assist
Our office can: obtain your AFM (if needed) through a power of attorney; coordinate the digital commencement and correct selection of KAD for your consulting activity and VAT status; handle GEMI registration; liaise with the competent Chamber in Athens for enrollment. If you wish, we can connect you with a cooperating accountant so that tax and social-security obligations are coordinated from the outset. Our professional fees depend on whether you already have an AFM and Taxisnet codes and on the complexity of your situation; we can provide a specific quote once we have a brief overview of your personal details and intended activities. Please send us: confirmation whether you already hold a Greek AFM; your nationality/residence status; and a short description of your intended consulting services, so that we can confirm the exact KAD, competent Chamber, and an accurate cost and timeline estimate for your case. Kind regards, I.E. Papaioannou & Associates Law Firm, Athens – Greece.

Dear Sir/Madam,

Thank you for contacting I.E. Papaioannou & Associates regarding the establishment of your consulting business in Athens. Below you will find a clear overview of the steps, usual timeframe and public fees for:
- registration as a sole proprietor,
- obtaining a Tax Identification Number (AFM), and
- VAT registration, and
- GEMI (Gamma-Eta Mu Eta) enrollment.

1. AFM (Tax Identification Number) – if you do not already have one
If you already have a Greek AFM, you can skip this step.
Otherwise, the AFM is issued by the tax authorities (AADE) and is now obtained primarily through gov.gr:
1) Online request via gov.gr
Service: “Attribution of Tax Identification Number (AFM) and key to natural person”.
You complete an electronic application with your personal details and upload ID/passport and any required supporting documents.
2) Identification
Either via video call (myAADElive) or
By visiting the competent tax office (ΔΟΥ) in person, on the basis of your address in Athens (or via an authorised representative with a power of attorney).
3) Issuance
The AFM is normally issued immediately on approval and sent to your email together with access credentials for the online tax platform (Taxisnet).
State fees: none for the AFM itself.

2. Starting the sole proprietorship & VAT registration (AADE)
The commencement of business as a sole proprietor and your VAT registration are now handled together through the gov.gr procedure “Start a sole proprietorship” (Έναρξη ατομικής επιχείρησης).
2.1 Basic prerequisites
You must:
- Have a valid AFM and Taxisnet codes.
- Be over 18 and an EU citizen (different rules apply for third-country nationals, who may need to go through the tax office directly and show a residence permit with the right to conduct business).
- Have a registered business address in Greece (for Athens: lease contract already submitted to AADE via myAADE, or title deed if the property is yours).
2.2 Online declaration (Form Δ211) – commencement & VAT
Through gov.gr you complete the Δ211 declaration of registration / commencement of business. This form now covers:
Personal data (linked to your AFM).
Business details:
- Business name (usually your full name, with optional distinctive title).
- Seat (address in Athens).
- Activity codes (KAD) – the appropriate KAD for consulting services (e.g. business/management consulting) will be selected.
VAT status:
In the same form you declare whether you are subject to VAT under the normal regime (standard for consulting), or whether you qualify for and choose a small-business VAT exemption if your expected annual turnover is below the statutory threshold (currently €10,000).
Once submitted and accepted:
You receive your Commencement of Business Certificate electronically, which confirms both the start of your sole proprietorship and your VAT registration (or exemption status).
State fees for commencement & VAT: There is no capital requirement and no fee/para-volo for AADE for starting a sole proprietorship.

3. GEMI registration & Chamber enrollment
After the AADE commencement, your data are used for the GEMI registration of the sole proprietorship. The current framework unifies:
- Tax office commencement (AADE) and
- Registration in GEMI (General Economic and Trade Chamber).
3.1 GEMI registration
Once your start of activity has been recorded by AADE, the sole proprietor’s basic details are transmitted to GEMI and you obtain a GEMI number upon completion of the registration steps via the GEMI portal / businessportal services.
You may have to log in, confirm details, and pay any GEMI registration / annual maintenance fees electronically.
3.2 Chamber of Commerce / Professional Chamber
For consulting activities in Athens, you will normally be registered with the competent Chamber (often the Professional Chamber of Athens – PAA – or the Athens Chamber of Commerce & Industry – EBEA, depending on the exact consulting KAD).
Registration is carried out after you have the AADE commencement document, by submitting an application and a copy of your commencement certificate (and ID).
Indicative fees (public side):
- GEMI registration / annual maintenance: Sources report annual GEMI fees for sole proprietors in the region of €30–€60 per year, depending on category and local chamber decisions.
- Chamber membership: Typical annual subscriptions for small sole proprietors are roughly €20–€60, again depending on the specific chamber and activity.
We would confirm the exact current amounts for your specific consulting activity and chamber before filing.

4. Usual timeframe
While the online portals are very fast, the practical total timeframe depends on the specific tax office (ΑΔΕ) and GEMI/Chamber workload:
- AFM issuance: Usually same day once you have your appointment / video call, provided your documents are complete.
- Digital start of sole proprietorship & VAT registration: The gov.gr procedure itself has an estimated digital completion time of about 10–15 minutes. In practice, AADE’s processing and internal updates usually take 1–3 working days.
- GEMI & Chamber registration: Often finalised within a few days after the tax commencement, but may vary by chamber.
- Overall practical range: For a standard case with complete documentation, experience and guidance from tax/accounting sources suggest approximately 2 working days to 2 weeks from first step to having everything (AADE, VAT, GEMI, Chamber) in place.

5. Other ongoing costs to keep in mind
Although not part of the “registration” fees strictly speaking, there are two important cost categories you should budget for:
- Social security (e-EFKA) – mandatory insurance contributions as a self-employed professional, payable monthly, with a statutory minimum class.
- Accounting support – most sole proprietors retain an accountant for VAT returns, income tax and GEMI/Chamber filings; fees depend on transaction volume and complexity.

6. How our firm can assist
Our office can:
- Obtain your AFM (if needed) through a power of attorney.
- Coordinate the digital commencement (Δ211), correct selection of KAD for your consulting activity and VAT status,
- Handle your GEMI registration and
- Liaise with the competent Chamber in Athens for your enrollment.
If you wish, we can also put you in touch with a cooperating accountant so that all tax and social-security obligations are coordinated from the outset.
Our professional fees depend on whether you already have an AFM and Taxisnet codes and on the complexity of your situation (e.g. foreign tax residence, special permits). We would be pleased to provide a specific fee quote once we have a brief overview of your personal details and intended consulting activities.
Please feel free to send us:
- confirmation whether you already hold a Greek AFM,
- your nationality / residence status, and
- a short description of your intended consulting services,
so that we can confirm the exact KAD, competent Chamber and an accurate cost and timeline estimate for your case.
Kind regards,
I.E. Papaioannou & Associates Law Firm
Athens – Greece