Corporate Governance & Legal Compliance in Greece: Navigating Business Success

Introduction
Greece presents a dynamic business environment for multinational companies across industries such as manufacturing, finance, retail, technology, and energy. However, operating in Greece
requires strict adherence to corporate governance, regulatory compliance, and administrative oversight. Companies must stay ahead of legal and procedural obligations to maintain efficiency
and mitigate risks.

Our firm specializes in corporate secretarial and management services, providing end-to-end legal solutions for companies operating in Greece. From board governance to tax compliance,
shareholding structures, and regulatory filings, we help businesses streamline their corporate responsibilities.

Key Corporate Legal Services

• Board of Directors (BoD) and Management Changes
  Under Greek corporate law, any changes to a company’s management require structured legal procedures, including: 

   

  Convening Shareholders’ General Meetings to:
  – Remove and appoint new BoD members.
  – Authorize the new BoD to appoint a Managing Director.
  Drafting and filing necessary corporate documents, including:
  Drafting and filing necessary corporate documents, including:
  – Shareholder resolutions authorizing changes.
  – Board resolutions approving new appointments.
  – Notarization of resolutions if required by the Articles of Association.
  – Filing changes with GEMI (Greek General Commercial Registry) within the legal deadline.
  – Handling tax updates with the Greek Tax Authorities (AADE), including updating the company’s legal representative.
  Example: If a multinational company appoints a new Managing Director, we prepare and file the General Meeting and Board Meeting Minutes, ensure necessary notarizations, and
  complete all filings with GEMI and AADE.

   

• Power of Attorney (PoA) Arrangements
  Foreign executives and shareholders often require Power of Attorney (PoA) for legal representation in Greece.Our firm:
  – Drafts customized PoA documents for corporate transactions, litigation representation, and administrative filings.
  – Ensures notarization and legalization of the PoA for official use.
  – Registers the PoA with GEMI, AADE, and other relevant institutions if required.
  – Assists foreign executives in obtaining a Greek Tax Identification Number (TIN/AFM).
  Example: A non-Greek board member of a multinational company may need a PoA to authorize a local executive to handle tax and regulatory matters on their behalf.

   

   

• Corporate Filings & Registry Updates
  Under Greek law, all major corporate changes must be registered with GEMI and relevant authorities. 

   

  Our services include:
  – Corporate Structure Changes (e.g., changes in shareholders, directors, or legal representatives).
  – Statutory Amendments (e.g., company name change, registered address change).
  – Capital Changes (e.g., share capital increase or reduction).
  – Publication of corporate resolutions in the Greek Official Gazette (if required).
  – Notifying the Bank of Greece or other regulatory bodies about key structural changes affecting licensed entities.
  Example: If a multinational bank relocates its headquarters or changes its legal representative, our firm ensures all registry and tax updates are completed without delays.

   

• Compliance & Regulatory Filings
  Companies operating in Greece must comply with stringent regulatory frameworks. 

   

  We manage:
  Ultimate Beneficial Owner (UBO) Declarations:
  – Updating the UBO register in compliance with AML (Anti-Money Laundering) Regulations.
  – Ensuring that corporate shareholders and beneficial owners are accurately recorded.
  – Annual Compliance Filings:
  – Submission of annual financial statements to GEMI.
  – Compliance with Greek Company Law 4548/2018 for Societes Anonymes (S.A.) and Law 3190/1955 for Limited Liability Companies (EPE).
  Tax Compliance Updates:
  – Ensuring corporate entities are up to date with Greek VAT, Income Tax, and Local Business Taxes.
  Example: A tech company must update its UBO declaration if its shareholding structure changes due to an acquisition or corporate restructuring.

   

• Shareholding & Capital Structure Changes
  Mergers, acquisitions, and shareholding changes require legal documentation and procedural compliance. 

   

  Our services include:
  – Drafting and filing Share Purchase Agreements (SPA).
  – Handling share transfers and share capital increases/decreases with GEMI and tax authorities.
  – Ensuring shareholder agreements comply with Greek corporate law.
  Example: If a consumer goods company restructures its shareholding by transferring equity to a foreign entity, we manage the entire legal process, including notarization,
  GEMI filings, and tax authority notifications.

   

• Company Dissolution & Liquidation
  Closing a corporate entity in Greece involves a multi-step legal process. 

   

  Our firm provides:
  – Preparation of liquidation resolutions for shareholder approval.
  – Appointment of a liquidator and notification to GEMI.
  – Settling outstanding tax liabilities and deregistration from AADE.
  – Closing bank accounts and finalizing all corporate obligations.
  Example: If an international energy company decides to shut down a subsidiary, we manage the dissolution and liquidation process, ensuring compliance with all legal
  and tax obligations.

   

• Banking & Financial Administration
  Foreign companies often require legal assistance in corporate banking transactions in Greece. 

   

  We provide:
  – Bank Account Opening & Closure:
  – Preparing corporate documentation for financial institutions.
  – Handling regulatory requirements for compliance.
  Issuance of Corporate Certificates for banking or licensing purposes.
  Example: If a multinational financial institution establishes a new legal entity, we assist in opening corporate bank accounts and ensuring all legal documentation is in place.

Conclusion: Navigating Corporate Success in Greece
Operating in Greece requires expert legal guidance to ensure corporate compliance, regulatory adherence, and efficient administrative oversight. Our law firm specializes in providing end-to-end
corporate secretarial and management services tailored to multinational corporations across various industries.

From BoD changes and tax compliance to mergers, acquisitions, and company dissolutions, we simplify complex legal processes, allowing businesses to focus on their growth and expansion in
Greece.

Are you looking to strengthen your corporate presence in Greece? Contact us to explore how our expertise can support your business needs.