Cost of Forming an IKE in Greece in 2026: Setup Fees and Yearly Costs
Forming a Greek IKE online costs just €18 in public fees. The real cost comes afterward: double-entry books, the GEMI fee, the business levy, EFKA contributions and taxes. Here is what to budget in 2026.
Forming an IKE (Idiotiki Kefalaiouchiki Etaireia, the Greek private company) online currently costs €18 in public fees. That is the easy part. The costs that decide whether the company pays off come afterward: double-entry books, the annual GEMI fee, the business levy, e-EFKA contributions and taxes.
Below is the answer we give clients at our Thessaloniki office, with amounts that apply in September 2026: what you pay at formation, what you pay every year, and when an IKE makes more sense than a sole proprietorship. If you are starting from scratch, see also our guide to starting a business in Greece.
How an IKE is formed today
Since December 2020 an IKE can be formed only electronically, through the Electronic One-Stop Shop (e-YMS) on businessportal.gr, now under Joint Ministerial Decision (KYA) 38164/2025. You use the standard articles of association, either plain or with additional content for the partners' specific terms, as long as its core elements stay unchanged.
All founders need an active Greek tax number (AFM) and TAXISnet credentials, the login for the Greek tax portal (or a recognized European electronic ID). Non-EU citizens who live or will live in Greece also need a residence permit. Once the founders sign and pay electronically, the system issues a number in GEMI (the General Commercial Registry) and an AFM for the company, registers it with the chamber of commerce and notifies e-EFKA, the social security fund.
A notary is needed only when the law requires a notarial deed, mainly when real estate is contributed (article 49 of Law 4072/2012). The notary's fee is set by the Code of Notaries (Law 2830/2000) and the related decisions and depends on the deed, so ask for a quote in advance. See also our IKE formation service.
Public fees at formation
| Formation route | Public fees |
|---|---|
| e-YMS (online) | €18 (a 70% discount on €60), plus €10 if the name needs review by the GEMI office |
| Notary | €60, plus €10 for GEMI registration, plus €10 for the name review if one takes place, plus the notary's fee |
Capital concentration tax has not been imposed on company formations since 2014 (Law 4254/2014), and the 0.1% fee in favor of the Hellenic Competition Commission applies only to sociétés anonymes (AE). The chamber of commerce does not charge a registration fee either: registration is automatic, and the annual subscription has been optional since 2015 (at the Thessaloniki Chamber of Commerce and Industry, EBETh, €40 a year for an IKE).
Capital: €1 is legal, but what is sensible
The law leaves the capital open, even at zero (article 43 of Law 4072/2012). Partners can take part through capital contributions (cash or assets in kind), non-capital contributions (work or services) or guarantee contributions (personal liability to creditors up to an amount set in the articles of association). Each share has a nominal value of at least €1, hence the "IKE with €1".
Capital is paid in full, and the manager confirms payment within one month through an act registered with GEMI. A contribution in kind worth more than €5,000 requires a valuation.
In practice, capital is a signal to banks and suppliers. We usually suggest an amount that covers the fixed costs of the first few months. Otherwise the company will need money from the partners in another form, with its own accounting and tax consequences.
After formation: the first weeks
- AFM and TAXISnet: the company applies for a temporary access key to obtain its own credentials. Check that the activity codes (KAD) cover all of your business.
- Register of Beneficial Owners: registration within 60 days of entry in the tax register.
- Bank: the account is needed for the capital and for operations. Each bank sets its own charges and documents.
- e-EFKA: the manager (partner or third party) and the sole partner of a single-member IKE are compulsorily insured as self-employed, in the insurance category they choose. Partners of a multi-member IKE who do not manage it are not insured because of their shareholding. 2026 amounts: e-EFKA contributions 2026.
- myDATA and e-invoicing: from 1 October 2026, business-to-business electronic invoicing applies to all obligated entities (AADE decision A.1128/2025). Choose a certified provider or AADE's timologio app before your first invoice.
Yearly costs to budget for
- Double-entry books (Law 4308/2014) and annual financial statements filed with GEMI. The accountant's fee depends on the number of documents, staff and complexity. See our accounting services.
- Annual GEMI fee: €100. In the year of formation it is paid by year-end, then in the first quarter.
- Business levy (telos epitidevmatos): €800 for a registered office in areas with up to 200,000 residents, €1,000 in larger cities, plus €600 per branch. It is not deductible, and there is no exemption for new companies.
- e-EFKA contributions for the manager.
- Tax of 22% on profits and an advance payment of 80% toward the following year, reduced by 50% in the first three tax years of a new legal entity.
- Dividend tax of 5%, only when you distribute profits.
At the Thessaloniki International Fair on 5 September 2026, where the government traditionally presents its tax measures, it was announced that the business levy will be abolished for legal entities outside Attica from 2027, which includes Thessaloniki. Until it is passed into law, keep it in your budget.
IKE or sole proprietorship: a rough calculation
An IKE pays 22% on profits and 5% on the dividend, a combined 25.9% if you distribute everything. A sole proprietorship is taxed on the 2026 personal scale, from 9% to 44%. The table shows tax only, without contributions, reductions and costs:
| Annual profit | Sole proprietorship | IKE (22% + 5%) |
|---|---|---|
| €30,000 | €5,500 | €7,770 |
| €60,000 | €16,700 | €15,540 |
| €100,000 | €34,300 | €25,900 |
On tax alone, the break-even point is around €51,000 of profit. With the business levy, the GEMI fee and more expensive bookkeeping, it moves above €60,000. If profits stay in the company for investment, however, you pay only 22%. Try your own numbers in our corporate tax calculator and income tax calculator.
Tax is not the only reason. An IKE limits liability to the company's assets and makes it easier to bring in a partner. Liability is not fully limited, though: the Tax Procedure Code (Law 5104/2024) provides for joint liability of those who manage a company for certain debts to the State, and banks often ask for a personal guarantee.
What to do before and after formation
- Compare an IKE and a sole proprietorship based on your expected profits.
- Check the company name and activity codes on e-YMS, and make sure all founders have an AFM and TAXISnet credentials.
- Decide on the capital, the manager and any specific terms for the articles of association.
- After formation: temporary access key, bank account and confirmation of capital payment within one month.
- Register of Beneficial Owners, e-EFKA and e-invoicing.
- A budget for fees, tax and the advance payment.
Frequently asked questions
How much does forming an IKE cost in total?
Through e-YMS €18, plus €10 if a name review is needed. With a notary, €70 to €80 in fees plus the notary's fee. Add any fees for an accountant or lawyer, and the yearly costs.
Can I form an IKE with €1 of capital?
Yes, and the law even allows zero capital with non-capital or guarantee contributions. A very low amount, however, makes dealing with banks and suppliers harder.
Do all partners pay EFKA contributions?
No. The manager and the sole partner of a single-member IKE are insured compulsorily.
Is the business levy being abolished for IKEs?
It was announced on 5 September 2026 for companies based outside Attica from 2027, but it has not yet been passed into law.
Sources
- KYA 38164/2025 (Government Gazette B' 2639/29.05.2025): company formation through One-Stop Shops
- e-YMS, businessportal.gr: formation cost calculator
- Law 4072/2012, articles 43 to 120 (IKE)
- Law 3986/2011, article 31 as replaced by Law 5162/2024 (business levy)
- e-EFKA: insurance of self-employed persons, IKE managers and sole partners
- EBETh: GEMI fees and chamber subscriptions (KYA 79752/2014)
Apostolou & Partners helps founders in Thessaloniki and from abroad decide whether an IKE makes sense for them, form it correctly and organize bookkeeping, EFKA and cash flow from the start. Contact us for a calculation based on your own numbers.