COMPARATIVE TABLE REGARDING FORMATION OF BUSINESS ENTITIES, namely PRIVATE COMPANY (“IKE”), SA (“AE”), Ltd.. (“EPE”), General Partnership (“OE’), Limited Partnership (“EE”), SINGLE-PERSON Business , THEIR ADVANTAGES & DISADVANTAGES
| CRITERIA | Private Company (“IKE”) | LTD. («EPE») | SOCIETE ANONYME («AE») | GENERAL PARTNESHIP («OE») | LIMITED PARTNESHIP («EE») | ONE-PERSON BUSINESS («ATOMIKI») | |
| BUSINESS TYPE | CAPITAL ENTITY | CAPITAL ENTITY | CAPITAL ENTITY | PERSONAL ENTITY | PERSONALENTITY | PERSONAL ENTITY | |
| Α | FORMATION PROCEDURE DEPENDING ON BUSINESS TYPE | ||||||
| 1 | MINIMUM | 1 € | 2.40 € | 25.00 € | 0 € | 0 € | 0 € |
| NECESSARY CAPITAL | |||||||
| 2 | CONTRIBUTION | Yes | Yes | Yes | Νο | Νο | Νο |
| IN | |||||||
| KIND | |||||||
| 3 | NON-CAPITAL CONTRIBUTION | Yes | Νο | Νο | Νο | Νο | Νο |
| 4 | NUMBER OF PARTNERS | >2 | >2 | >2 | >2 | >2 | 1 |
| 5 | Partners’ / Shareholders’’ responsibility | IKE’ s responsibility and not that of its Shareholders’ | Limited to the extent of the Partners’ contribution in matter or cash | Limited to the extent of the Partners’ contribution in matter or cash | Limitless | a. General Partners: 100% & their personal properties as well | Limitless |
| b. Limited Partners: as to the extent of their contribution in matter or cash | |||||||
| 6 | Representation & Management | Α. General Assembly/ Meeting, and | Α. General Assembly/ Meeting, and | Α. General Assembly/ Meeting, and | Its Partners | Its Partners | Its Partners |
| Β. Managers | Β. Managers | Β. Managers της | |||||
| 7 | Duration | Certain Time: up to 12 years’ time (extension option) | Indefinite | > more than 50 years in principle | Indefinite | Indefinite | Indefinite |
| 8 | Point of Establishment / Launching | Service Point of Citizens (“KEΠ») or Business Registry | Accredited Notary | Accredited Notary | Service Point of Citizens (“KEΠ») or Business Registry | Service Point of Citizens (“KEΠ») or Business Registry | Service Point of Citizens (“KEΠ») or Business Registry |
| 9 | Estimated Cost of Establishment / Launching within Business Registry | 100 € | 100 € | 100 € | 100 € | 100 € | 10 0 € |
| 10 | Further expenses i.e. Notary’s fees | 44,02€ plus 6 € per sheet plus taxes 24% | 44,02€ plus 6 € per sheet plus taxes 24% | 500 € plus 6 € per sheet plus taxes 24% | 0 € | 0 € | 0 € |
| 11 | Further expenses, possibly of a lawyer if that is require | Non-compulsory, only after an agreement among members if needed | Non-compulsory, only after an agreement among members if needed | Non-compulsory, only after an agreement among members if needed | Non-compulsory, only after an agreement among members if needed | Non-compulsory, only after an agreement among members if needed | Non-compulsory |
| 12 | Legal fee regarding social security taxes of Lawyers | Non-compulsory | Non-compulsory | 0,5% or 1% on the Company’s capital share | 0,5% or 1% on the Company’s capital share | 0,5% or 1% on the Company’s capital share | Non-compulsory |
| 13 | Tax on Capital Concentration | 1% | 1% | 1% | 0% | 0% | 0% |
| 14 | Fee in proportion to Capital for the Competition Commission in Greece | 0% | 0% | 1‰ | 0% | 0% | 0% |
| Β | TAX DEPENDING ON THE COMPANY’S FORM | Private Company («IKE») | LTD. («EPE») | SOCIETE ANONYME («AE») | GENERAL PARTNESHIP («OE») | LIMITED PARTNESHIP («EE») | ONE-PERSON BUSINESS («ATOMIKI») |
| 1 | Company tax | 29% | 29% | 29% | 29% | 29% | * |
| 2 | Dividends tax | 15% | 15% | 15% | 0% | 0% | 0% |
| 3 | Tax Down Payment | 100% | 100% | 100% | 100% | 100% | 100% |
| 4 | Entrepreneurship fee | 1.00 € | 1.00 € | 1.00 € | 1.00 € | 1.00 € | 650 € |
| C | ADVANTAGES | Private Company («IKE») | LTD. («EPE») | SOCIETE ANONYME («AE») | GENERAL PARTNESHIP («OE») | LIMITED PARTNESHIP («EE») | ONE-PERSON BUSINESS («ATOMIKI») |
| 1 | Minimum Capital Absences | Yes | Νο | Νο | Yes | Yes | Yes |
| 2 | Quick and simple launching through Business Registry | Yes | Yes | Νο | Yes | Yes | Yes |
| 3 | Flexibility in reaching decisions | Yes | Νο | Νο | Yes | Yes | Yes |
| 4 | Funding through stock market | Νο | Νο | Yes | Νο | Νο | Νο |
| 5 | Formation Cost | Low | Medium | High | Low | Low | Low |
| DISADVANTAGES | |||||||
| Δ | Ι.Κ.Ε. | LTD. («EPE») | SOCIETE ANONYME («AE») | GENERAL PARTNESHIP («OE») | LIMITED PARTNESHIP («EE») | ONE-PERSON BUSINESS («ATOMIKI») | |
| 1 | High Formation Cost | Νο | Yes | Yes | Νο | Νο | Νο |
| 2 | Inability to raise funding through stock markets | Yes | Yes | Νο | Yes | Yes | Yes |
| 3 | Fund recording at all times | Yes | Yes | Yes | Νο | Νο | Νο |
| 4 | Book keeping recording | Yes | Yes | Yes | Νο | Νο | Νο |
| 5 | Difficulty in purchasing/ selling shares | Νο | Νο | Νο | Yes | Yes | Yes |
| 6 | Funding | Yes | Yes | Yes | Νο | Νο | Νο |
| 7 | Compulsory social security of Partners with the sole competent Greek Social Security Authority (namely “ΕFΚΑ (former Merchants’ Guild) | Solely the Managers | Yes | Just the members of the Board of Director that are simultaneously shareholders of a 3%+ percentage | Yes | Yes | Yes |
We are future-oriented by setting strategic long-term goals; planning ahead is not just a necessity but an inherent characteristic of our corporate identity.
We strive for fairness by treating everyone with respect, not just courtesy.
Our mind-set is global thus we enjoy working seamlessly across borders.
We focus on delivering world-class legal services and advice, thus reaching for the highest standard possible means that excellence is the only threshold.
Key Contacts
Oikonomakis Christos
Papageorgiou Zoi
Mitrogianni Aikaterini
Zgurov Dobrin
Papadimitriou Margarita
For more information on Company Issues
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