Best New Business Formation Lawyers in Corfu

About New Business Formation Law in Corfu, Greece

New business formation in Corfu, Greece is governed by a combination of Greek national laws and specific local regulations. Establishing a company or starting self-employment in Corfu involves several legal steps, including choosing a business structure, complying with zoning and taxation rules, and completing registration processes with various authorities. Corfu, as a popular tourist destination and hub for commercial activities, provides numerous opportunities for entrepreneurs, investors, and startups. Understanding the legal landscape is crucial for ensuring a smooth launch and ongoing compliance of your business.

Why You May Need a Lawyer

While some aspects of starting a business in Corfu can be accomplished independently, there are many situations where legal assistance is invaluable. You may need a lawyer if you are:

• Unsure about the proper business structure for your needs
• Non-Greek or non-EU citizen unfamiliar with local requirements
• Planning to purchase or lease commercial property
• Unsure how to draft or review contracts, partnership agreements, or bylaws
• Concerned about compliance with local, regional, or national regulations
• Seeking government permits or licenses for your business sector
• Interested in protecting your intellectual property
• Wish to avoid costly mistakes or delays during registration

A lawyer can provide tailored guidance to help you navigate the Greek legal system, saving you time and helping prevent legal disputes in the future.

Local Laws Overview

Key aspects of local laws affecting new business formation in Corfu include:

• Business Structures: Common forms include sole proprietorship, general or limited partnership, private company (IKE), limited liability company (EPE), and public limited company (AE). Each type has distinct formation and liability implications.
• Registration Requirements: All businesses must be registered with the General Commercial Registry (GEMI). Special licensing may be needed, especially for tourism, hospitality, or food services.
• Taxation: You must register with the Greek tax authorities and obtain a Tax Identification Number (AFM). Businesses are subject to income tax, VAT, and local taxes as applicable.
• Employment Law: Hiring employees means compliance with Greek labor laws, including contracts, insurance, and wage regulations.
• Zoning and Local Permits: Corfu’s municipal authorities enforce zoning laws and may require additional permits for construction or commercial use of properties.
• Intellectual Property: Protecting your business name, trademarks, and copyrights follows Greek and EU procedures.

Local customs and bureaucratic procedures in Corfu may differ from other parts of Greece, making local expertise very useful.

Frequently Asked Questions

What types of business entities can I establish in Corfu?

In Corfu, you can choose from several business forms including sole proprietorship, general or limited partnership, private company (IKE), limited liability company (EPE), and public limited company (AE), each with different setup, tax, and liability requirements.

Do I need to be a Greek citizen to start a business in Corfu?

No, Greek citizenship is not required. However, non-EU citizens must fulfill additional requirements and may need special permits or a local representative.

How do I register my business in Corfu?

All businesses must register with the General Commercial Registry (GEMI) and obtain a Tax Identification Number (AFM) from the tax authorities. The process involves providing necessary documentation and sometimes proof of address or premises.

Are there special requirements for the tourism or hospitality sector?

Yes, these sectors require one or more licenses from both national and local authorities, as well as compliance with health, safety, and zoning regulations.

How long does the business formation process usually take?

Depending on the business type and complexity, formation can take from a few days to several weeks, with more time needed for businesses requiring special licenses or premises.

Do I need to open a business bank account in Greece?

Yes, a Greek business bank account is usually required for tax, capital deposit, and transactional purposes.

What are the ongoing compliance requirements for businesses?

Annual tax filings, accounting records, and employer obligations (if hiring staff) are mandatory, alongside any sector-specific reporting or permits.

Can I operate my business from my home in Corfu?

This depends on the business type and local zoning laws. Some home-based businesses are permitted, but you should check with local municipal authorities.

What are the tax implications of starting a business in Corfu?

Business owners are subject to Greek income tax, VAT (for most businesses), and possibly local fees or levies. Tax rates and obligations vary depending on business structure.

Do I need a lawyer or notary to set up my business?

While not always mandatory for all types of businesses, many procedures (especially for companies like an EPE or AE) require notarial deeds, legal certified documents, or professional legal advice.

Additional Resources

To further assist those forming a business in Corfu, here are some helpful local and national resources:

• Chamber of Commerce & Industry of Corfu - offers information and support to entrepreneurs
• General Commercial Registry (GEMI) - responsible for business registrations
• Independent Authority for Public Revenue (AADE) - oversees tax registration and compliance
• Municipality of Corfu - local office for permits, zoning, and municipal regulations
• Greek Ministry of Development & Investments - provides national policy and support programs for businesses

Consulting the above organizations or their local offices in Corfu can clarify many practical and legal requirements.

Next Steps

If you are considering starting a business in Corfu, Greece, begin by outlining your business plan and identifying the appropriate legal structure. Gather all necessary personal and professional documentation. Consult with a local lawyer experienced in business formation for a tailored assessment of your situation. Your lawyer can assist with company registration, permits, contracts, and legal compliance, helping you avoid common pitfalls. Contact the local Chamber of Commerce or a specialist in Greek business law to schedule an initial consultation. Proactive legal guidance at the outset will safeguard your interests and lay a solid foundation for your new business in Corfu.