UK founders are drawn in for a mix of reasons: Greece works as a gateway into the EU/EMU zone, share capital requirements start as low as €1, and the registration process itself has been digitised through GEMI and AADE. Add in a lifestyle appeal that's hard to ignore, and it's easy to see why interest is growing.
We're seeing this interest from solo consultants, digital nomads, hospitality investors, and established UK companies eyeing Southern Europe expansion alike. This guide walks through exactly how to set up a Greek business as a UK national, post-Brexit complications included.
TL;DR
- Greece permits 100% foreign ownership — no Greek partner required
- UK citizens are non-EU nationals and need a residence or visa route to trade legally
- Minimum capital ranges from €1 (IKE) to €25,000 (AE), depending on structure
- Incorporation can complete in about two working days; tax, banking, and visas take longer
- Corporate tax is 22% and standard VAT is 24%, with reduced rates on some items
What Does Starting a Business in Greece Involve?
At its simplest, a UK-based founder needs to complete three core steps:
- Register a legal entity with GEMI (the General Commercial Registry)
- Obtain a Greek Tax ID (AFM) for both yourself and the company
- Comply with AADE’s tax framework
This is company formation, not property investment or Golden Visa residency on its own. These are often conflated, but they are separate legal tracks.
UK founders typically choose between:
- IKE (private company): the default for startups, freelancers, and consultants; minimum capital of just €1
- AE (public company/S.A.): suited to larger ventures with formal governance needs; minimum €25,000 in share capital
- Branch office vs. new Greek subsidiary: an existing UK company can open a branch or incorporate a fresh Greek entity, depending on liability preferences
What UK Founders Should Know Before Starting a Business in Greece
Many UK founders still plan as if EU-citizen rules apply. They don't. Brexit reclassified UK nationals as third-country citizens, which adds visa and residency steps that EU founders simply skip.
Here's what that means practically:
- Timing: Securing a Greek AFM and, where needed, a residence permit authorising business activity, must happen before you can legally trade, not after
- Remote management: Much of the registration is digital, but non-EU founders typically need a local legal representative or notary to handle certain filings
- Realistic timeline: Core company registration can take around two working days once your complete file reaches the One Stop Authority, but banking, VAT setup, and EFKA registration extend the timeline
- Office requirements: Trading businesses generally need a physical presence; consulting or digital service businesses can usually operate from a registered virtual office
- Registration vs. readiness: A registered company isn't the same as an operational one. Bank account approval, VAT registration, and EFKA enrolment all sit downstream of incorporation
Why Start a Business in Greece? (When It Makes Sense for UK Entrepreneurs)
Greece isn't a fit for every business model. It makes the most sense under specific conditions.
EU market access, with a caveat. A Greek company can use the EU VAT framework. Qualifying supplies to VAT-registered EU customers may be exempt with credit, and cross-border B2B services are generally taxed where the customer is based, according to PwC's Greece tax summary.
That is a real trading advantage. It does not grant the UK owner any personal right to live or work in Greece; immigration status is a separate matter entirely.
Sector fit. Enterprise Greece flags these as priority investment sectors:
- Tourism
- Real estate
- Energy and clean tech
- Technology
Backing includes licensing support, site assistance, and matchmaking services.
Competitive costs. Formation fees are low by Western European standards. Official establishment costs run around €18 through the online e-YMS system for IKE, EPE, and AE structures.
Golden Visa property route. For eligible investors, property-linked residence routes exist under Greek investment law. Thresholds vary by property type and location, so check the current Ministry notice rather than older published figures. The framework has changed more than once in recent years.
Early Decisions That Matter for UK Founders
Most delays for UK founders come from underestimating Brexit-related visa complexity. A few areas get overlooked repeatedly:
- Document costs: Notarisation, apostille certification, and certified Greek translation of UK documents all carry real fees that vary by provider. Budget for these as quote-dependent, not fixed
- Representative fees: Non-EU founders typically need a local legal or tax representative to handle certain filings; this is an ongoing cost, not a one-off
- Structure choice: IKE, EPE, and AE carry different liability profiles and capital demands — picking AE by default when IKE would do is a common (and costly) mistake
- Visa timing: Determine early whether you need a residence permit before registration, not after
- Currency planning: GBP-EUR conversion costs add up quickly for founders moving funds regularly between the UK and Greece
How to Start a Business in Greece as a UK National – Step by Step
This breaks the process into practical stages specific to UK/non-EU status. The most common mistakes: assuming EU-citizen rules apply, skipping the TIN/visa step entirely, and underestimating translation requirements until they cause a filing delay.
Step 1 – Confirm Your Residency and Visa Route
Determine whether you need a Greek entrepreneur visa, an investor visa, or a Golden Visa, depending on your business model.
According to the EU Immigration Portal's self-employed worker guidance, independent economic activity applicants need sufficient funds, a business plan, and evidence the activity benefits the Greek economy. Investment-activity applicants need at least €250,000 in capital plus a business plan.
Gather your passport, entry visa, and a declaration of intent to reside where applicable. Common miss: assuming pre-Brexit EU rights still apply to entry or work.
Step 2 – Choose Your Business Structure and Capital Level
Compare IKE (€1 minimum), EPE, and AE (€25,000 minimum) against your liability tolerance and funding needs. If you run an existing UK company, weigh a branch office against forming a new Greek subsidiary.
Common miss: defaulting to AE when a simpler, cheaper IKE structure would cover the same business need.
Step 3 – Obtain a Greek Tax Identification Number (AFM) and TAXISnet Credentials
Foreign shareholders, directors, and administrators must be tax-registered before or during incorporation. This typically happens through an authorised legal representative for non-EU citizens. Once issued, TAXISnet becomes your digital ID for online filings.
Common miss: trying to use an EU-only remote registration route that simply isn't available to UK nationals post-Brexit.
Step 4 – Register the Company with GEMI
Reserve a unique company name and draft your Articles of Association. Submission runs through the One Stop Authority: either the e-YMS online system or in person with a notary where required.
Official fees are modest:
- Online (e-YMS): roughly €18-€24
- In-person: roughly €60-€80
Step 5 – Set Up Tax, VAT, and Banking
Tax and VAT registration through AADE happens automatically once GEMI approves the company. Opening a corporate bank account is where non-EU founders often hit friction; expect extra KYC checks. A multi-currency account that handles GBP-EUR conversion cleanly is worth setting up before you need it, not after.
Step 6 – Register for Social Security and Hire Staff (If Applicable)
Enrol the company, and any employees, with EFKA. Contracts need to be drafted and reported through the ERGANI system.
Common miss: underestimating employer social security contributions. As of January 2025, the employer contribution rate is 21.79% of gross salary, according to PwC's Greece tax summary. That is a material cost line many UK founders under-budget for when they only model net pay.
Step 7 – Build Local Credibility and Compliance Habits
Appoint a local accountant or tax representative who understands both Greek and UK reporting standards. Set up bookkeeping through the myDATA digital system, which AADE now requires for ongoing VAT and tax compliance, including mandatory electronic invoicing for many categories.
Cross-border support on entity formation, bookkeeping, and payroll cuts early missteps. VJM Global handles that multi-jurisdiction groundwork for clients entering new markets, applying each country's own regulatory framework rather than a one-size-fits-all model.
Conclusion
Starting a business in Greece as a UK national is achievable, though it demands more visa and documentation diligence than an EU citizen would face. Three choices matter more than pure speed:
- Picking the right legal structure
- Sorting residency status early
- Budgeting for translation and legal costs
Long-term success depends on staying compliant with GEMI, AADE, and EFKA as the business grows. Lock in structure, residency, and budget first, and ongoing filings with those bodies become routine.
Frequently Asked Questions
Can a foreigner open a business in Greece?
Yes. Foreigners, including UK nationals, can fully own a Greek business. As non-EU citizens, UK founders need a valid residence permit authorising business activity before trading legally.
Can a foreigner start a business in Greece without living there?
Much of the registration process is digital, but UK and other non-EU founders generally need a local legal representative to handle certain filings and represent them at the tax office.
Do UK citizens need a Greek partner to start a business?
No. Greek company law permits single-member IKE, EPE, and AE structures, so full foreign ownership without a local partner is legally permitted.
What is the minimum capital needed to start a business in Greece?
An IKE requires just €1, a single-member EPE also starts at €1, and an AE (S.A.) requires a minimum of €25,000 in share capital.
How long does it take to register a company in Greece?
Core registration can complete in around two working days once a complete file reaches the One Stop Authority. UK founders should budget extra time for document translation and apostille certification, which can extend the overall timeline.
What taxes will my Greek business pay?
Corporate tax stands at 22%, standard VAT at 24% (with 13% and 6% reduced rates for specific goods and services), plus employer social security contributions of 21.79% of gross salary as of 2025.
