How to set up a company in Greece with a capital of 1€ and receive an NSRF grant

Πως να ιδρύσεις εταιρία; Ένα από τα στάδια της ανάπτυξης της επιχειρηματικής δραστηριότητας είναι τι μορφή θα έχει η εταιρία που θα συσταθεί.

The right choice may seem minor at first, but it is important later on and can bring multiple benefits.

The new form of company that has been created in recent years is called Private Equity Company (IKE), which requires a minimum time of incorporation and a relatively small amount of documentation and is positioned between the Sole Proprietorship and other forms of corporate forms such as the EPE, OE and SA.

Ποια όμως είναι τα πλεονεκτήματα μιας ΙΚΕ;

• Minimum capital corresponding to one Euro
• The shares are separated from the capital
• It is a commercial company and has full legal personality
• It has limited administrative and operational costs (lawyer, notary and notifications)
• Any contribution (capital, labour or guarantor's liability) is recognised and the relationship between the partners and the company is simple and clear
• It has a relatively high flexibility in choices and changes/modifications due to its two-sided identity as both a corporation and a personal (private) company

ΑΤΟΜΙΚΗ Vs IKE

Often when the start is immediate and urgent, a dilemma often arises. "INDIVIDUAL or ICE". The following comparative table can be quite enlightening as to which corporate form to choose.

Before making the final choice on what form of business to choose, it is necessary to first clarify what the business purpose is based on the plan and then calculate how it will evolve in the first years in terms of turnover and profits.

The choice of the legal form of an IKE is advantageous when the company is expected to make sufficient profits from the beginning and, based on its business plan, is going to make immediate and rapid growth with branches and markets.

Procedure for the establishment of an IKE

If it is decided to set up an IKE as a legal form, the entrepreneur should bear in mind the following:

Headquarters of IKE: Although still under formation, the registered office can be leased with a guarantee from the manager of the company being formed.

Purpose of the IKE: You should include the correct SICs and provide for those you will have at least come up with in the lines of business so that the adviser can activate the correct SICs during the incorporation. It is advisable to make a mention of any activities you may engage in in the future so as to avoid unnecessary amendments to the articles of association.

Name and distinctive title of the company: Όπως σε όλες τις επιχειρήσεις είναι βασικό  να μην υπάρχει άλλη εταιρία με την ίδια επωνυμία και τον ίδιο διακριτικό τίτλο. Από την πλευρά της επωνυμίας μπορείτε να χρησιμοποιήσετε ό,τι επιθυμείτε, καθώς δεν απαιτείται να αναφέρονται τα ονόματα των συμμετεχόντων. Στον τομέα της ονομασίας το τμήμα Marketing & Business Development της EPIDOSIS μπορεί να σας βοηθήσεις και να σας καθοδηγήσει ώστε να βρείτε το κατάλληλο διακριτικό για την υπό σύσταση εταιρία σας.

Capital of the company: The law is clear that the required capital is only 1€. However, what is recommended is to define the capital to be invested in the business. This does not avoid problems in the accounting articles as well as the imposition of 1% capital accumulation tax on the amount in each capital increase.

Company Administrator: The appointed manager is the one who will have the obligation to have EFKA insurance while for partners it is optional. Also, the incorporation procedure does not require tax information for both the manager and the partners. It is further noted that if you choose the manager to neither the 1% and at the same time the partner has almost 100% on the partnership shares, then in this case the IKE is considered a single person, and therefore the insurance obligation of both the manager and the partner is created.

From 2020, the contributions for the main insurance of managers of IKEs and sole proprietorships have changed. They are not linked to the amount of their taxable income, but neither are they linked to years of insurance. Also, company managers are now given the right to freely choose their insurance class beyond the minimum compulsory one.

After the start

After starting the company, the steps that follow are as follows:

• Άνοιγμα τραπεζικού λογαριασμού Τράπεζα: Έκδοση όψεως λογαριασμού, άμεσα, καθώς εντός 30 ημερών από την έναρξη θα πρέπει να δηλωθεί στο taxis ο ΙΒΑΝ ως επαγγελματικός λογαριασμός
• Website creation: The registration of the domain is necessary in order for the website address to be notified to the GEMI. In this case, please contact the Marketing & Business Development department of EPIDOSIS to provide you with the relevant directions.
• Deposit of the Certificate of Initial Capital with the General Registry of Commerce accompanied by the Management Report.
• Posting of the lease of the headquarters in TAXIS with the declaration of the VAT number of the IKE and the corresponding registration of the owner of the headquarters in TAXIS.
• If you wish to employ staff in IKE, you will have to make an inventory at IKA. The whole process should be started a few days in advance by providing your accountant with the details of the employees in order to complete the required actions in time for the staff to start working.
• In case the activity of the newly established IPE requires the supply of a cash register or tax machine, you should check whether you are subject to P.O.S. Finally, as of 1/1.2021, electronic invoicing through the myData application of the AADE becomes mandatory. And here EPIDOSIS can recommend you as an official Accounting Partner of EPSILON NET the EPSILON SMART application which is fully compatible with the myData platform of AADE.

Σε αυτό το σημείο η ΙΚΕ ξεκινάει τη δραστηριότητά της και είστε έτοιμοι να αναπτύξετε την επιχείρησή σας.

Βασική επιδίωξη των εταιριών είναι να αποκτήσουν το ανταγωνιστικό πλεονέκτημα που θα τους κάνει να διαφοροποιηθούν και να ξεχωρίσουν στον τομέα δραστηριοποίησης τους. Ένα από τα σημαντικότερα κριτήρια για να το πετύχουν είναι αναμφισβήτητα η ομαλή και συνεχής πρόσβαση στη χρηματοδότηση.

Η Epidosis αναζητά διαρκώς νέες επενδυτικές και επιχειρηματικές προτάσεις για να ενταχθούν σε προγράμματα χρηματοδότησης του ΕΣΠΑ. Μία από τις βασικότερες πηγές υποστήριξης της επιχειρηματικής δραστηριότητας είναι τα προγράμματα και οι δράσεις που συγχρηματοδοτούνται από πόρους της Ελλάδας και της Ευρωπαϊκής Ένωσης. Προφανώς, η διαδικασία επιδότησης αποτελεί ένα σημαντικό μέσο που προωθεί την υγιή επιχειρηματικότητα και στηρίζει την επιτυχημένη εταιρική ανάπτυξη.

• Investigating and processing the business purposes of the investment entity
• Search, evaluate and identify opportunities offered through funding programs
• Compilation and submission of the investment proposal to the institution
• Drafting and conclusion of the agreement regarding the cooperation and the undertaking of the project, based on the objectives of the organization and the requirements of the program
• Planning and preparation of an economic and technical study as well as viability and feasibility studies
• Compilation of technical audit reports and opinions for the successful management of the investment plan
• Compilation of technical audit reports and opinions for the successful management of the investment plan

The cooperation with EPIDOSIS will "introduce" you to the absolute 360o support from a single company. This is what we call #PoweredbyEPIDOSIS and sets us apart from anything you have known so far in the field of Business Consulting.

Contact directly with the experienced team of EPIDOSIS at 2310 477725 & 210 726 4080 or make an appointment below.