Greece has increasingly become an attractive destination for entrepreneurs, digital nomads, and startups looking to expand into the EU. With its strategic location, skilled talent pool, and improving business climate, the country offers more than just a lifestyle perk—it’s also a gateway to the European market.
If you’re exploring company registration in Greece, you’ll quickly discover a structure called IKE (Ιδιωτική Κεφαλαιουχική Εταιρεία)—known in English as a Private Company. For most foreign founders, IKE is not only the most flexible option but also the most cost-effective and modern structure available.
In this blog, we’ll break down why IKE is the preferred legal entity for international founders and how to go about setting one up in 2025.
What Is an IKE?
IKE stands for “Idiotiki Kefalaiouchiki Etaireia,” which translates to Private Company Limited by Shares. Introduced in 2012, it’s designed to simplify doing business in Greece, especially for startups, SMEs, and international entrepreneurs.
It’s similar to the UK’s Ltd or the American LLC—offering limited liability, easy formation, and minimal bureaucracy compared to older company types.
Why IKE Is the Best Option for Foreign Founders
1. Limited Liability with Minimal Capital Requirements
With an IKE, shareholders’ liability is limited to their contribution. You can even set up an IKE with a starting capital of just €1, making it accessible to early-stage entrepreneurs who want to validate a business idea before scaling.
This low-capital threshold removes one of the biggest entry barriers and makes it perfect for lean startups or remote founders.
2. Single-Owner Flexibility
You don’t need multiple partners or a complex shareholder structure. An IKE can be formed by just one person—who can be the sole shareholder and manager.
This is particularly useful for solo founders, freelancers, or digital entrepreneurs who want full control without dealing with local partners or board members.
3. Fast and Digital Incorporation
One of the big improvements in recent years is Greece’s online General Commercial Registry (GEMI), which allows many businesses, including IKEs, to be incorporated digitally.
This means no need to physically be in Greece during the incorporation process. Most of the documentation and registration steps can be handled remotely through legal representatives or notaries.
4. No Notary Required (in Most Cases)
Unless your articles of association contain unusual clauses, you typically won’t need a notary for forming an IKE. This cuts down on both cost and paperwork, speeding up the launch process.
If you’re planning company registration in Greece from abroad, this makes IKE one of the most streamlined structures available.
5. Flexible Management and Shareholder Rules
IKE allows flexible allocation of roles and rights between shareholders and managers. There’s no need for a board of directors, and management can be assigned to one or more individuals, even non-shareholders.
This structure is ideal for modern startups that need agility and fast decision-making.
6. Recognized EU Company Type
Because it’s a Greek legal entity operating under EU rules, an IKE can:
- Open bank accounts across the EU
- Operate across borders via EU trade rules
- Access EU funding programs and grants
For founders aiming to scale across Europe, this is a significant advantage.
How to Register an IKE in Greece
Setting up an IKE is relatively straightforward, even for non-residents. Here’s what the process generally involves:
Step 1: Choose a Company Name
The name must be unique and include the suffix “IKE” to indicate the legal structure.
Step 2: Draft Articles of Association
These can be created using standard templates unless you have specific clauses, in which case legal assistance is recommended.
Step 3: Register Through GEMI (General Commercial Registry)
You or your legal representative can file the necessary documents through Greece’s One-Stop Service online.
Step 4: Obtain a Tax Identification Number (AFM)
All shareholders must obtain a Greek tax number, which can also be arranged remotely via power of attorney.
Step 5: Open a Greek Business Bank Account
You’ll need this to deposit any initial capital and manage ongoing business expenses. Requirements vary slightly between banks.
Step 6: Register for VAT and Social Security
If you’re trading in Greece, VAT registration may be necessary. If hiring staff, social security contributions will apply as well.
Can Foreigners Own 100% of an IKE?
Yes—foreign individuals and entities can fully own an IKE. There are no restrictions on nationality or residence, which makes it ideal for entrepreneurs from outside the EU. You don’t even need to live in Greece to run your IKE.
However, it’s essential to appoint a local tax representative if you’re not residing in the country, especially for compliance and tax filing purposes.
Tax Considerations
As of 2025, IKEs are taxed like regular companies:
- Corporate tax rate: 22% on profits
- Dividend tax: 5% (after profits are taxed)
Greece has tax treaties with many countries to prevent double taxation, which can help reduce your global tax burden if structured properly.
Final Thoughts
If you’re considering company registration in Greece, the IKE structure offers flexibility, simplicity, and full ownership—all with minimal red tape. It’s built for the modern entrepreneur who values agility, scalability, and a favorable entry point into the European market.
Whether you’re launching a remote tech startup, establishing an EU foothold, or simply diversifying your international business portfolio, an IKE in Greece could be your smartest move.
FAQs
1. Do I need to be in Greece to set up an IKE?
No. The entire process can be completed remotely with the help of a legal representative or advisor.
2. Can an IKE hire employees?
Yes. As a fully functional legal entity, an IKE can employ staff, sign contracts, and conduct business like any company.
3. How long does the incorporation process take?
Typically 5–10 business days, assuming documents are in order.
4. Is Greek residency required to own or run an IKE?
No. Foreigners can fully own and manage an IKE without residency, though a tax representative is required for non-residents.