startupgreece.gov.gr Limited Partnership Company Establishment Procedure Greece

Organization : Startup Greece
Facility : Limited Partnership E.E Company Establishment Procedure
Country : Greece

Website : https://elevategreece.gov.gr/

E.E Company Establishment Procedure

How Many Parties Need To Concur In Order To Establish A Limited Partnership Company?
In order to establish a limited partnership company, at least two parties will have to concur who are by law jointly responsible for pursuing common purposes (article 741, Greek Civil Code).

Related : E.P.E Establishment Procedure Limited Liability Company Greece : www.statusin.org/26799.html

The founding members of a limited partnership company may be natural or legal persons. The natural persons have to be over eighteen years of age (according to article 127 of Greek Civil Code, as it was modified by article 3 of Greek Law 1329/83).

Participation of a minor in the establishment of a general partnership company is allowed only after magisterial permission.

Basic Characteristics Of A Company :
The partners of a limited partnership company are distinguished in two categories : general and limited partners. General partners have joint and unlimited liability vis-à-vis the company creditors.

Limited partners have limited liability and are only liable for the amount of their investment in the company.

The establishment of a limited partnership company does not require a notarial deed; on the contrary, a private agreement is sufficient.

The limited partner becomes liable as a general partner when his/her name is included in the company name, or participates in the management and representation of the company.

What Is General Partner? And What Is Limited Partner?
A general partner, in both a general partnership company and a limited partnership company (where there is at least one general partner and many limited partners), is the partner with unlimited liability (responsible for all the company’s debts, not limited to a fixed amount of the company’s debts) for all the company’s obligations with his/her personal assets.

A limited partner has limited liability, that is he/she is only liable for the amount of their investment in the company vis-à-vis third parties, and cannot represent the company in transactions with third parties.

What Is The Minimum Capital Required For Establishing A Company?
There is no minimum capital required by law for establishing a limited partnership company, because the company assets are not distinguished from the partners’ assets, given that the partners are liable for the company’s obligations with all their personal assets.

What Is The Liability Of Partners / Shareholders?
Each general partner is liable for the company’s debts and obligations with their own personal assets. Limited partners are liable for the amount of their investment in the company.

Where Should I Refer To Register A Company?
One Stop Shop

What Is A One Stop Shop?
One Stop Shops are the Services of G.C.R. that operate at Chambers and certified Citizen Service Centers (KEP).

In special cases that require notarised Articles of Association, the One Stop Shop operates as the certified notary public and draws up the notarial deed.

Where Can I Find A One Stop Shop?
At the website of the General Commercial Register (G.C.R.) businessportal.gr you may find the list of bodies that operate as One Stop Shops by company type, as well as their address, contact details.

What Do I Need To Pay To Establish A Company? (Company Establishment Note)
The Company Establishment Note (50 Euros). If the founders are more than 3 persons, the cost is increased by 5 Euros for each additional founder. The Company Establishment Note shall not be refunded.

Additionally, you will need to pay :
** G.C.R. registration fee (10 Euros).
** Chamber registration fee depending on the respective Chamber.

** Contribution to the Lawyers Fund (0,5% of the company capital)
** Duty paid to the Lawyers Welfare Fund in Athens.

For the establishment of general partnership companies and limited partnership companies with capital more than 586.94€, the duty amounts to 1% of the capital stated in the Articles of Association.

Additionally, a stamp of 3.6% on the abovementioned 1% is paid. If the capital is less than 586.94€, the duty amounts to only 5.80€.

How Can I Estimate The Cost Of Establishing My Company?
The website of the G.C.R. provides a free software that may be used to calculate the exact cost of registering a company, according to Greek Law 3853/2010, based on the type of company and capital (under construction).

How Do I Make Payments?
The Company Establishment Note and any other payments made to third parties or for acquiring copies and certifications concerning the company, are paid in cash; otherwise if the total amount exceeds 1,500€, payment may be made by bank cheque, or by bank deposit to the account of the Central Agency of G.C.R., in which case the bank deposit receipt must be produced.

Otherwise, if applicable, payments may be made via web and/or phone banking, credit or debit card, or interbanking systems.

When Do I Make Payments?
The Company Establishment Note is paid after the necessary documents have been submitted and checked, while the remaining amounts should be paid prior to registering the company at the G.C.R.

Which Bank Should I Refer To For Payments?
You may refer to any bank. Deposits are made to the bank account of the Central Agency of G.C.R. which is held at Piraeus Bank. (Account number: 5051052381-136, ΙΒΑΝ GR 19 0172 0510 0050 5105 2381 136)

What Happens To The Amounts Paid If The Company Is Not Ultimately Established?
In case the company is not ultimately established due to reasons for which the partners are responsible, nor registered at the G.C.R., all amounts paid shall be refunded, with the exception of the Company Establishment Note.

The amounts shall be refunded within 30 days after the next working day following the expiration of the deadline to complete and correct any inconsistencies.

When submitting the necessary documents to the One Stop Shop, the founders of the company or their representative should also provide a bank account in order for the amounts to be refunded, if the company is not ultimately established.

Where Can I Find The Necessary Forms To Complete And Submit To The One Stop Shop?
You may find and print the statement forms (M) from the website of the General Secretariat for Information Systems of the Ministry of Economy and Finance.

You may also print these forms from the One Stop Shop. The remaining forms are available in the attached file and the website of G.C.R.