Kavos is a small resort town on Corfu; there is no local business registry — all incorporation is done under Greece's national framework (GEMI/AADE), with the regional Chamber of Commerce & Industry of Corfu handling chamber registration for businesses based in Kavos.
Good to know
Good to Know
- There is no local-partner or sponsor requirement for setting up a capital company (IKE/EPE/AE) in Greece — foreigners, including non-EU nationals, can own 100% of the business.
- The IKE is the standard recommendation for foreign founders because it only needs €1 in nominal share capital and can usually be filed digitally without a notary.
- Because Kavos itself has no separate business registry, plan on dealing with GEMI online and, if you need an in-person step, the Corfu regional Chamber of Commerce office rather than anything in Kavos itself.
- Non-EU founders should budget extra time (often 1–3 months) for the residence/investor permit needed to actually live in Greece and manage the company, separate from the incorporation paperwork itself.
- Getting a Greek tax number (AFM) is usually the pacing item for foreigners — non-EU applicants typically need a notarised Power of Attorney so a local representative can apply on their behalf before anything else can move forward.
- There is no Kavos- or Corfu-specific business tax rate — the 22% corporate tax rate and all filing rules described here are set at the national Greek level and apply the same whether your business is registered in Kavos, Athens, or anywhere else in Greece.
- For most digital nomads/freelancers testing out Greece, starting as a sole proprietor is simpler and cheaper than forming a company — you only convert to an IKE later if you specifically need liability protection or plan to bring in investors.
- Don't set up (or convert to) an IKE purely to reduce your tax bill as a solo freelancer — Greek tax authorities specifically watch for this pattern and can claw back the tax savings if they conclude that was the main motive.
- Because Kavos is a small, highly seasonal resort town, most foreign-owned small businesses here (tourism-related shops, bars, rental services) are likely to be simple sole proprietorships rather than full companies — factor in that a local accountant (λογιστής) familiar with Corfu's tourism sector is genuinely useful given how seasonal cash flow and VAT/EFKA obligations interact.
- Non-EU founders should sort out the right residence/work permit category before registering a business, since the tax ID (AFM) and company registration steps are separate from — but conditional on — having the correct legal right to operate a business in Greece.
VAT
- Standard Rate Percent
- 24
- Small Business Exemption Threshold
- €10,000
Sole proprietors/freelancers with annual turnover not exceeding this threshold can opt into a special small-business VAT regime rather than charging VAT on every invoice.
- Notes
- VAT registration is generally mandatory once turnover exceeds the small-business threshold, and invoices must be reported through AADE's myDATA e-invoicing platform.
Reduced Rates Percent
- 13
- 6
Sole Proprietor Vs Company
- Anti Abuse Warning
- Greek authorities have rules to discourage using a company purely to avoid the freelancer 'imputed income' rules — if a freelancer shuts down and reopens as a single-member company doing the same work mainly to dodge that rule, authorities can charge back the tax difference saved.
Sole Proprietorship
- Taxation
- Business profits are not subject to a separate corporate tax; instead they are taxed as personal income on a progressive scale from 9% up to 44%, declared annually on personal Form E1 (with business details on Form E3).
- Greek Name
- Ατομική Επιχείρηση (Atomiki Epicheirisi)
- Legal Nature
- The proprietor and the business are treated as a single legal unit with no separate legal personality, meaning personal assets are fully exposed to business liabilities with no liability shield of any kind.
- Who It Suits
- For most solo professionals starting out, a sole proprietorship is the fastest and easiest way to work as a freelancer in Greece, and is widely used by freelancers, consultants, and tradespeople.
- Minimum Capital
- None required.
- Foreigner Access
- EU citizens can register relatively easily. Non-EU nationals need a residence permit that carries self-employment rights before they can register, and typically need to appoint a local fiscal/tax representative for some registration steps.
- Imputed Minimum Income Rule
- Under a 2023 law, tax authorities treat a freelancer's income as being at least equivalent to what an employee earning the national minimum wage would earn annually, so tax can be assessed on this floor even if declared profit is lower.
Annual Fees
- Gemi Chamber Fee
- €50
Approximate annual GEMI/Chamber registration fee if a trade name is registered, in addition to monthly mandatory social security (e-EFKA) contributions.
Private Capital Company Ike
- Taxation
- Subject to the flat 22% corporate income tax rate on net profits, plus 5% withholding tax on any dividends distributed to the owner.
- Greek Name
- Ιδιωτική Κεφαλαιουχική Εταιρεία (IKE)
- Setup Speed
- Formation can be completed digitally, commonly within one to two weeks via the Gov.gr business portal, and IKE has become Greece's most commonly registered new-business entity type.
- Legal Nature
- A limited-liability capital company; a single-member IKE (Monoprosopi IKE) can be formed by one person, and the sole shareholder's liability is limited to the capital contributed.
- Who It Suits
- Suits situations needing liability protection, plans to bring in investors, or genuine corporate tax planning — not simply switching from freelancer status to reduce tax.
- Minimum Capital
- No minimum — €1 in share capital is sufficient to form an IKE.
- Foreigner Access
- Foreign investors can own 100% of a Greek IKE, and there is no requirement for a Greek-resident director, though one legal representative must be appointed (banks may separately ask for a local resident director to open an account).
Other Structures Available But Less Common For Solo Foreigners
- EPE (older limited liability form, requires €4,500 minimum capital, largely superseded by IKE)
- AE / Société Anonyme (requires €25,000 minimum capital, board of directors, suited to large-scale operations, not typical for a solo nomad business)
- OE / EE general and limited partnerships (expose at least one partner to unlimited personal liability)
Typical Cost
Bare Government Registry Fees
- Currency Local
- EUR
- Amount USD Range
- 20–91
- Amount Local Range
- 18–80
- Description
- GEMI/registry filing fee for an IKE via the online portal
Non EU Tax Representative Annual Fee
- Currency Local
- EUR
- Amount USD Range
- 570–1,710
- Amount Local Range
- 500–1,500
- Note
- Ongoing annual cost for the mandatory tax representative if the founder is not EU/resident.
Realistic All In Cost With Professional Help
- Currency Local
- EUR
- Amount USD Range
- 1,140–5,700
- Amount Local Range
- 1,000–5,000
- Description
- Including notary (if required), legal/accounting fees, translations, and registered-office setup for a straightforward foreign-founder IKE
Common Entity Types
IKE (Private Capital Company / Idiotiki Kefalaiouchiki Etaireia)
- Minimum Capital
- €1.00
- Notes
- The most popular vehicle for foreign founders and startups; can be single-member, uses a model statute filed digitally with no notary required, and offers limited liability.
EPE (Limited Liability Company)
- Minimum Capital
- €4,500
- Notes
- Largely superseded by the IKE since 2012; notarial deed generally required, heavier governance formalities.
AE (Société Anonyme)
- Minimum Capital
- €25,000
- Notes
- Requires a notarial deed, a board of at least three members, and an annual general meeting; used for larger operations, regulated sectors, or pre-listing structures.
OE / EE (General / Limited Partnership)
- Minimum Capital
- €0.00
- Notes
- No minimum capital, but general partners carry unlimited personal liability and non-EU general partners need a valid residence permit.
Scope Note
Kavos is a small resort town on Corfu; there is no municipal-level business tax regime distinct from national Greek law. All figures below are the national Greek corporate/business tax framework, which applies uniformly to a business based in Kavos as it would anywhere else in Greece.
Corporate Tax
- Standard Cit Rate Percent
- 22
- Dividend Withholding Tax Percent
- 5
- Residency Basis
- A company is a Greek tax resident if it is incorporated under Greek law, has its registered office in Greece, or its place of effective management is in Greece. Resident companies pay 22% CIT on worldwide income; non-resident companies (e.g. a foreign company with only a Greek branch) pay 22% only on Greek-source income.
- No Local Or Municipal Surtax
- Greece does not impose regional or municipal corporate income taxes, so the 22% national rate is the full corporate income tax burden regardless of where in Greece (including Kavos/Corfu) the company is based.
- Notes
- Greece taxes companies at a flat 22% corporate income tax (CIT) rate on net profits — reduced from 24% in 2021, and this rate remains unchanged for 2026. Banks that opted into the deferred-tax-asset (DTA) regime are taxed at 29% instead, which is not relevant to typical small foreign-owned nomad/SME businesses.
Filing Obligations Companies
- Corporate Tax Return Deadline
- Corporate tax returns must be filed by the last day of the sixth month after the tax year ends (commonly 30 June for calendar-year filers).
- Payment Schedule
- Corporate income tax is paid in six equal monthly installments, beginning by the end of the seventh month following year-end, and companies must prepay 80% of the current year's estimated tax liability based on the prior year's return (new companies get a 50% reduction on this prepayment for their first three years).
- Loss Carryforward
- Tax losses can be carried forward for five consecutive tax years to offset future profits; there is no loss carry-back, and losses are forfeited if company ownership changes by more than 33% within a tax year.
- Digital Bookkeeping
- Businesses must keep e-invoicing and bookkeeping aligned with AADE's myDATA digital reporting platform.
- Registration Authority
- All companies register through the General Commercial Registry (GEMI) and receive a Tax Identification Number (AFM) from AADE (the Independent Authority for Public Revenue).
Practical Registration Notes
- Afm Tax ID
- Every founder — Greek, EU, or non-EU — needs a Greek Tax Identification Number (AFM) before any registration step. EU nationals can often get this remotely via AADE's myAADElive platform; non-EU nationals not yet in Greece typically need a notarized, apostilled power of attorney to a Greek lawyer/accountant to obtain it.
- Typical Overall Timeline
- Company registration (mainly for an IKE) is largely digital and typically takes a few weeks once the AFM is issued and a bank account is opened; bank KYC/AML checks for opening a corporate account and depositing share capital can themselves take one to three weeks.
Jurisdiction Note
Company formation rules are set at the national (Greek) level, not the municipal level — the same GEMI/AADE process applies whether the registered office is in Kavos, Corfu Town, or Athens.
Realistic Timeline
- EPE Ae Formations
- Take longer than an IKE because they require notarial deeds
- Gemi Filing Itself
- 1–3 business days for a clean IKE filing once documents are ready
- Non EU Founder End To End
- Approximately 2–3 months once visa/residence-permit processing, apostilles, and bank account opening are factored in
- EU National Forming An IKE End To End
- As little as 1–2 weeks with documents prepared in advance, more realistically 2–4 weeks allowing for bank KYC checks
Core Incorporation Steps
Core Incorporation Steps
- Appoint a Greek tax representative (accountant/lawyer) if not resident in Greece.
- Obtain a Greek tax number (AFM) — EU citizens can often apply remotely; non-EU citizens typically grant a notarised Power of Attorney so a representative can apply on their behalf.
- Check and reserve the company name through the GEMI online portal.
- Draft the Articles of Association (Καταστατικό) — a private/model-statute document suffices for an IKE (no notary needed); an EPE, AE, or any in-kind capital contribution generally requires a notarial deed.
- File the incorporation package electronically through the GEMI e-YMS one-stop-shop (or in person via a KEP office/notary), which triggers simultaneous registration with the Chamber of Commerce and the tax authority.
- Receive the GEMI registration number and corporate AFM — the company gains legal personality at this point.
- Open a corporate bank account and deposit any declared share capital.
- Register with social security (e-EFKA) and enrol for VAT / myDATA e-invoicing with AADE.
- Declare ultimate beneficial owners (UBOs) — anyone holding more than 25% of the company.
- Non-EU founders: apply in parallel for the relevant residence/work or investor permit needed to legally manage the business in Greece.
Official Government Links
Official Government Links
Local Partner Or Sponsor Requirement
- Partnerships OE EE
- Different rule applies here: only Greek citizens, EU/EEA nationals, or third-country nationals holding a valid residence permit may act as a general (unlimited-liability) partner in an OE or EE; this restriction does not apply to capital companies.
- Capital Companies IKE EPE AE
- None. Foreign individuals or foreign companies can hold 100% of the shares of a Greek IKE, EPE, or AE, with no requirement for a Greek shareholder or a Greek-resident director.
- Practical Local Representative
- Not a legal mandate, but a Greek tax representative (accountant or lawyer) is required for any non-resident founder to obtain a tax number (AFM) and liaise with tax authorities.
AI-generated estimateData refreshed July 2026
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Data last updated July 2026 · Verify anything important.