Business structures · Greece
Private company (IKE)
Separate company cash from what each person takes home. See what changes when a partner joins or management changes.
What would you like to do?
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Setting up and agreeing terms with partners
Can I set up an IKE on my own and appoint someone else to manage it?
Practical steps
- Decide who owns the company shares and who will manage and represent the IKE.
- Set out the term, signing authority, and any management fee in the articles of association or the appointment decision.
I’m putting in money and my partner is contributing work. How do we divide ownership of the IKE?
Practical steps
- Agree separately on each partner’s contribution, shareholding, and any special voting or profit rights.
- Record how the contribution is valued and what happens if someone fails to fulfil it or leaves.
Can I decide on my own with 60%? Who can sign for the IKE?
Practical steps
- Check who can vote on the decision and whether the articles require a higher majority or specific consent.
- Before signing with a third party, check the registered representation arrangements and which managers can sign.
How many months can the IKE last with no revenue?
Practical steps
- Get the formation cost from e-YMS and add only amounts still due, such as accounting setup fees or a premises deposit.
- List company payments by month. Track partners’ personal contributions and uncollected revenue separately.
When am I personally exposed to IKE debts?
Practical steps
- Gather the current articles, loan or lease agreements, and appointment decisions separately.
- For each obligation, record the creditor, who signed, in what capacity, and how much is covered.
Management fees, distributions, and cash flow
Do I pay EFKA if I’m an unpaid manager or have a salaried job elsewhere?
Practical steps
- Confirm the role and its start or end dates with GEMI and e-EFKA.
- Compare the contribution notice with the months and roles actually covered.
Should I take a management fee, dividend, or expense reimbursement?
Practical steps
- Match the bank transaction to the receipt, agreement, or company decision that supports it.
- Before payment, ask someone to check the accounting entry, any withholding, and the reporting deadline.
There is money in the bank. How much profit can I distribute?
Practical steps
- Use the approved distributable amount from the financial statements and company decision, after accounting for losses and reserves.
- Set aside outstanding payments, such as tax and advance tax, and the cash you need to keep operating.
My client will pay in 90 days. Will the cash last until then?
Practical steps
- Use payments actually due before you receive the money, such as suppliers, payroll, and taxes.
- Try adding another month of delay if the payment date is uncertain.
The company is short on cash. Should I add capital or make a partner loan?
Practical steps
- Start with the actual funding gap and the date you need the money.
- Record the company’s approval and payment in a way that reflects the type of funding.
New partners, departures, and company changes
A new partner is joining. How does ownership change and who gets paid?
Practical steps
- Use the number of company shares and check whether they carry different voting or profit rights.
- Check the articles for transfer restrictions or pre-emption rights. Confirm which decisions and filings are required.
I want to leave the IKE. Should I transfer my shares or request a withdrawal?
Practical steps
- Find the current articles, the register of partners, and the contribution type attached to the shares.
- Check any remaining payment or performance obligations and ask for an estimate of any tax consequences.
The external manager resigned. Who can sign, and what do I file?
Practical steps
- Gather the resignation, current articles, and latest representation record.
- Prepare the required decision or document, file it with GEMI, and notify the bank and relevant authorities.
I’m closing my sole trade and continuing through an IKE. What happens to customers, assets, and tax?
Practical steps
- Set a date to close the sole trade and start invoicing through the IKE. List amounts still to be collected or paid.
- Compare closing and setting up again with formally contributing the business before transferring assets or signing contracts.
I changed the address or partner details. Where do I report it?
Practical steps
- Record the decision and effective dates. Find the relevant application in GEMI.
- Check which services receive the update automatically and whether a separate filing is needed elsewhere.
I’ve stopped trading. What is left to close the IKE?
Practical steps
- List receivables, debts, fixed assets, contracts, employees, and personal guarantees.
- Coordinate the GEMI process with tax register checks and outstanding returns.
Day-to-day obligations
What should I do before issuing my first invoice or receipt?
Practical steps
- Confirm that the business is registered and that its activities, premises and VAT status are recorded correctly.
- Set up the correct way to issue and submit documents to myDATA. Check the rules for the transaction before issuing the first document.
Do I need a card terminal or a registered business account?
Practical steps
- Find your active main and secondary business activity codes in myAADE. Check which payment methods you are required to accept.
- If you must declare a business account or card terminal, use the relevant AADE services and check that the details are recorded correctly.
What do I do when I hire my first employee?
Practical steps
- Check employer registration with e-EFKA and confirm the employee's details, workplace, contract, pay and hours.
- Arrange the ERGANI II declaration before work starts. Set up payroll, APD payroll declarations and contribution payments.
What do I report if I change my address, activity code or premises?
Practical steps
- Gather the effective date and supporting documents. Check the business record in myAADE.
- Check whether a corporate resolution and GEMI filing are needed before the tax register can be updated.
What do I file even with no turnover?
Practical steps
- Confirm the status in the tax register. List outstanding filings, payments and invoices by period.
- Check the requirements for forms N and E3, GEMI and financial statements where applicable.
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