Good to know
Good to Know
- There is no Zante-specific or island-level business registration process — every company, regardless of where in Greece it's based, goes through the same national GEMI/e-YMS system, so you don't need to travel to Zante itself to incorporate.
- An IKE with €1 nominal capital is by far the cheapest and fastest structure and is what most foreign solo-founders/consultants use; AE and EPE are usually overkill unless you need a large-scale corporate structure.
- Budget extra time for the corporate bank account, not the registry filing itself — GEMI approval can happen in days, but banks' KYC checks on non-resident founders are usually the real bottleneck.
- Non-EU founders should sort out their Greek Tax ID (AFM) and, if they intend to actively run the business from Greece, their residence/visa status early, since these — not the GEMI filing — usually set the real timeline.
- The 22% corporate rate and progressive personal rates (9–44% for sole proprietors) are set by national Greek tax law — they are exactly the same whether you incorporate in Zante, Athens, or anywhere else in Greece; there's no local Zakynthos tax break to chase.
- Most digital nomads and small freelance operations in Greece start as a sole proprietor (ατομική επιχείρηση) rather than forming a company, since it's cheaper and faster — an IKE company only tends to pay off once profits are large enough that the flat 22% rate plus 5% dividend tax beats the personal progressive scale, or you specifically need liability protection.
- Non-EU nomads should note that registering a sole proprietorship or forming a company doesn't by itself grant the right to live and work in Greece — you'll separately need an appropriate visa or residence permit (covered under Visa & Legal), and this is generally arranged before or alongside business registration.
- Watch out for Greece's 'imputed income' minimum tax floor for sole proprietors — if your declared freelance income looks unusually low relative to benchmarks (minimum wage, turnover), the tax office can assess extra tax on the assumed shortfall.
- A previously mandatory annual registration fee for freelancers (Τέλος Επιτηδεύματος) was abolished from 2025 onward, which is a genuine recent saving for sole proprietors — but this levy still applies to IKE companies.
Typical Cost
- Note On Ae EPE
- AE and EPE formations cost noticeably more because a notarial deed is required and the AE alone requires €25,000 (US$27,000) of share capital, a quarter of which must be paid in immediately.
Government Registry Fees Ike
- Currency Local
- EUR
- Amount USD Range
- 19–86
- Amount Local Range
- 18–80
- Description
- GEMI/e-YMS state registration fee for a straightforward IKE using the model statute
Chamber And Annual Registration Add Ons
- Currency Local
- EUR
- Amount USD Range
- 86–162 per year + ~11-22 one-off
- Amount Local Range
- 80–150 per year (subscription) + ~10-20 one-off
- Description
- Nominal GEMI/Chamber of Commerce registration entries plus an annual Chamber subscription
Typical All In Cost With Professional Help
- Currency Local
- EUR
- Amount USD Range
- 1,080–5,400
- Amount Local Range
- 1,000–5,000
- Description
- Realistic total for a foreign founder using a lawyer/accountant for AFM procurement, translations, bank KYC support, and filing (most non-resident founders use this route)
Company Types
IKE (Idiotiki Kefalaiouchiki Etaireia / Private Capital Company)
- Minimum Capital
- €1.00
- Notary Required
- No
- Notes
- The default choice for foreign-founded small businesses and freelancer/consultancy setups. Single-member allowed, can be formed fully online via the model Articles of Association template, no notary needed if the standard template is used with no in-kind capital contributions.
EPE (Eteria Periorismenis Efthinis / Limited Liability Company)
- Minimum Capital
- €4,800
- Notary Required
- Yes
- Notes
- Largely superseded by the IKE since a 2012 reform; heavier governance and a notarial deed is required. Rarely recommended for new foreign formations today.
AE (Anonymi Etaireia / Société Anonyme)
- Minimum Capital
- €25,000
- Notary Required
- Yes
- Notes
- One quarter of the €25,000 capital must be paid in at the time of incorporation. Used for larger operations or where a public-facing corporate structure is wanted.
Business Tax And Structure Options
- Jurisdiction Note
- Zante (Zakynthos) has no island-specific corporate tax regime — all figures below are set by Greek national law (Law 4172/2013 and subsequent amendments) and apply identically here as anywhere else in Greece. Zakynthos is NOT among the handful of Greek islands (Leros, Lesvos, Kos, Samos, Chios) that get a reduced VAT rate, so standard mainland VAT rates apply.
Corporate Tax Company
- Rate Detail
- Greece taxes companies at a flat 22% corporate income tax (CIT) rate on net profits — reduced from 24% in 2021.
- Bank Dta Regime Rate
- Credit institutions under the deferred tax asset (DTA) regime pay 29% instead of 22%.
- Corporate Income Tax Rate
- 22% flat on net profits
- VAT Standard Rate Percent
- 24
- Applies To
- AE (Société Anonyme), IKE (Private Capital Company), EPE (Limited Liability Company), OE/EE partnerships that keep double-entry books
- Residency Basis
- This applies to worldwide income for Greek tax residents and Greek-source income only for non-residents.
- Foreign Ownership
- Foreign investors can own 100% of a Greek company, with no mandatory Greek-resident director, though one legal representative must be appointed.
- Dividend Withholding Tax
- €5.00
This is a percentage rate (5%), not a fixed fee — dividend withholding tax is just 5%, one of the lowest in the eurozone.
- Banking Note
- Banks may require a local resident director for account opening, in practice, even though it is not a legal requirement.
Minimum Capital By Entity
- AE
- €25,000 minimum capital.
- EPE
- €4,500 minimum capital.
- IKE
- €1 (no meaningful minimum) — IKE requires no minimum capital (€1 is sufficient).
VAT Reduced Rates Percent
- 13
- 6
Sole Proprietor Freelancer Tax
- Greek Name
- Atomiki Epicheirisi (ατομική επιχείρηση)
- Tax Treatment
- Sole proprietors pay progressive personal income tax from 9% to 44%, with business income aggregated with any other personal income; there is no separate corporate tax.
- VAT Registration
- VAT registration is automatic upon registering as a sole proprietor if the activity is subject to VAT; a small-business exemption regime exists for annual turnover under roughly €10,000.
- Anti Avoidance Rule
- Authorities can claw back tax savings if a freelancer closes their sole proprietorship and opens a single-member company doing the same work purely to sidestep the imputed-income rules — incorporation must reflect genuine business need, not just tax avoidance.
- Abolished Annual Fee
- A previous flat annual business-registration levy (Τέλος Επιτηδεύματος, up to €650–€1,000/year) has been abolished for freelancers and sole proprietors from 2025 onward, though it still applies to companies like IKEs.
- 2025 Brackets Example
- Greece applies progressive rates: 9% up to €10,000, 22% from €10,001–20,000, 28% from €20,001–30,000, 36% from €30,001–40,000, and 44% above €40,000 (2025 brackets).
- Imputed Minimum Income Rule
- Greece applies a minimum 'imputed income' floor for sole proprietors (based on minimum wage, highest-paid employee's salary, and a turnover benchmark, capped at €50,000/year) — if declared income falls below this floor, extra tax is assessed on the difference.
Filing And Compliance Obligations
- E Invoicing
- All invoices (companies and sole proprietors) must be reported through AADE's myDATA e-books platform and kept for at least five years.
- Annual Accounts
- Companies file annual financial statements prepared under Greek Accounting Standards with GEMI; small IKEs usually file abbreviated accounts, while larger entities face statutory audit thresholds based on balance-sheet size, turnover, and headcount.
- Loss Carryforward
- Tax losses may be carried forward for five fiscal years to offset future profits; Greece does not permit loss carry-back.
- Registration Speed
- Registration typically takes 3–10 business days through the digital one-stop shop for companies; sole proprietor registration is also done via myAADE/Gov.gr.
- Registration Bodies
- All companies register through the General Commercial Registry (GEMI) and receive a Tax Identification Number (AFM) from AADE (the Greek tax authority).
- Advance Tax Prepayment
- Companies and sole proprietors must prepay a portion of next year's tax liability based on the current year's assessment (an advance/mandatory prepayment mechanism), which affects cash flow planning.
- Personal Return Deadline
- Individual/sole-proprietor income tax declarations are submitted by 15 July of the following tax year, with tax payable in up to 8 monthly installments.
Freelancer Vs Company Practical Guidance
- Non EU Caveat
- Non-EU citizens generally need a residence/work permit or a visa granting the right to conduct entrepreneurial activity before registering as a sole proprietor or director in Greece; this is a practical prerequisite distinct from the tax mechanics themselves.
- Ike Company Cons
- More setup effort (articles of association, GEMI registration, corporate bookkeeping), ongoing compliance costs, and the annual registration levy that sole proprietors no longer pay.
- Ike Company Pros
- Separate legal personality, limited liability, single-member (Monoprosopi IKE) form suits solo founders, flat 22% corporate rate can be advantageous at higher profit levels, and dividends are taxed at a low 5% withholding on top.
- Typical Recommendation
- For most solo professionals starting out, a sole proprietorship is the fastest and easiest way to work as a freelancer in Greece, with reevaluation toward an IKE later if liability protection, investors, or scaling become relevant.
- Sole Proprietorship Cons
- No liability separation between personal and business assets — the proprietor and business are treated as a single legal and tax unit, so personal assets are fully exposed to business debts.
- Sole Proprietorship Pros
- Cheapest and fastest to set up (no minimum capital), minimal ongoing formalities, full personal control — the standard starting point for most solo digital nomads and freelancers in Greece.
Steps
Steps
- 1. Obtain a Greek Tax Identification Number (AFM) for each founder/director/shareholder — EU citizens can often do this remotely; non-EU citizens typically need a Greek tax representative or lawyer acting via power of attorney.
- 2. Reserve the company name and check availability through the GEMI (General Commercial Registry) online portal — same-day.
- 3. Draft the Articles of Association: for an IKE, a standard online model template can be used with no notary; for an AE, or an EPE, or any formation involving in-kind/real-estate contributions, a notarial deed is mandatory.
- 4. File the incorporation application online through the e-YMS 'one-stop-shop' system (accessed via the GEMI/gov.gr business portal), submitting founder ID documents, the statute, and proof of a registered business address, and pay the registration fee.
- 5. Once approved, the company automatically receives its GEMI registration number and is cross-registered with the tax authority (AADE) for a company AFM and, where applicable, a VAT number.
- 6. Open a Greek corporate bank account and deposit the share capital — this step is usually the slowest part for foreigners due to bank KYC/AML checks and apostilled ID requirements.
- 7. Register the legal representative (and any employees) with EFKA, the Greek social security fund, if drawing a salary or hiring staff.
- 8. Obtain any activity-specific licenses (e.g. food service, tourism, health) from the relevant municipal or ministry office if the business needs them — relevant for many Zante tourism/hospitality-adjacent businesses.
Timeline
- End To End Typical
- 10 to 20 business days once AFM procurement, document translation/apostille, and bank account opening are included — banks alone can take 1–3 weeks for KYC/AML checks on a new corporate account.
- Gemi Registration Only
- As little as 1–3 business days for an IKE filed online via e-YMS with all documents ready.
- Non EU Founder Realistic Timeline
- Roughly 2–3 months end-to-end for non-EU founders once visa/residence-permit processing for the founder to actually work/manage the business in Greece is factored in.
Jurisdiction Note
Zakynthos (Zante) has no separate island-level business registry or incorporation rules. Company formation is governed entirely by national Greek law, and the process, fees, and timelines below are identical whether the company's registered office is on Zante or on the mainland. A Zante-registered company still files through the national GEMI/e-YMS system, not a local island office.
Official Registry Link
https://www.gemi.gr (Greek General Commercial Registry / GEMI — the national one-stop company registration system; the associated e-YMS online filing service is reached via the gov.gr business portal).
Local Partner Or Sponsor Requirement
No local partner, sponsor, or nominee shareholder is legally required. Foreigners (EU and non-EU alike) can own 100% of a Greek company and can be the sole director. The main extra requirement for foreigners is obtaining a Greek Tax Identification Number (AFM) for every shareholder/director, and, for non-EU nationals who want to actively manage the business in Greece, holding an appropriate business/investor/entrepreneur visa or residence permit (this is a personal immigration requirement, not an ownership restriction).
AI-generated estimateData refreshed July 2026
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Data last updated July 2026 · Verify anything important.