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Establishment of a Limited Liability Company (L.E.) – Limited Liability Company (L.E.)
TaxProtection - Kasimatis Stylianos - Accounting Office - Santorini



The One Stop Service (YMS), which operates in GEMI, undertakes the process of setting up the General Partnership (PO) and the Limited Partnership (PO). YMS issues the VAT number and the key number for the company's taxi system, provided that all the required conditions are met. The main characteristics of OE are the following:

  • A notarial document is not required for its establishment, on the contrary, a private agreement is sufficient. However, it is recommended to have a lawyer or legal advisor draft the articles of association to avoid potential problems.
  • There is no requirement for a specific amount of corporate capital to establish an OE.
  • The partners of the OE bear personal responsibility with their property for all the obligations of the company.




Procedure for starting a Limited Liability Company (LLC) or Limited Liability Company (LLC):

Basic supporting documents for the formation of the OE-EU:

  • Application – Responsible statement – Authorization to GEMI based on annex: Form with founder Natural person, Form with founder Legal person.
  • Articles of Incorporation in original and signed form, in accordance with the model OE articles of association and EU Model articles of association provided by GEMI.
  • Two statutes of the OE-EU under formation, printed by the founders or by those having a special notarial power of attorney and one in electronic editable format (doc).
  • Proof of residence: Lease contract in the representative's VAT number, posted on the trip.
  • Proof of full capital payment, where required by law for the establishment of the company.
  • The new D211 start of work form.
  • Certificate of incorporation and proof of VAT number.

Additional supporting documents that may be required:

  • Photocopies of the partners' police IDs or a valid Passport for citizens of an EU member state, Passport and Residence Permit for citizens of a non-EU state.
  • Degree or License to practice a profession (if required for the specific profession).
  • Pre-approval of a permit of health interest and Permit to operate the space from the Municipality (mainly for professions such as canteens, bakeries, restaurants, hair salons, etc.).
  • Bank account of the founders (in case there is an amount to be refunded).
  • Designation of a special representative of the partners with his contact details, in case GEMI needs clarifications or supporting documents.

It is important to note that the above list may vary by legislature.




OE-EU recommendation – (YMS) through GEMI

The One Stop Service (YMS) responsible for the establishment of companies, whether they are Partnerships or Partnerships, through the General Register of Companies (GEMI), checks the submitted applications and documents to ensure the completeness of the information transmitted. In case any document is missing, candidates are informed to provide it within a specific deadline. It is important to note that in the event that the company results from the conversion of an existing company, the process is not subject to the control of the IMS.

In the process of setting up (General and Limited Partnerships), there is no check of the partners' registration conditions in the Unified Social Security Agency (EFKA). The partners are obliged to resolve any outstanding issues with the insurance company that concern them. In addition, informing EFKA about the establishment of the new company is an obligation that belongs to the partners themselves.

Alternatively, the formation process (of a Sole and Limited Company) can be performed through the One Stop Electronic Service (e-YMS) platform, eliminating the need to visit public services for this purpose.





Establishment of OE-EU through e-YMS in GEMI (electronically):

The establishment of the company is carried out exclusively through an electronic process by the same founders, using the special platform of GEMI, which is located at https://eyms.businessportal.gr.

As it is not allowed to post original articles of association, a pre-defined template of articles of association must be used and filled in via the online form with the required information. After checking the availability of the company name, the articles of association will become available.

The cost of establishing the business through an online service is lower than that required for the establishment in the classic way, as no incorporation fee is required.

The standard articles of association are signed electronically by the company's founders themselves. If the standard articles of association are not used, then the company should be incorporated with the classic one-stop services of the Chambers.

After the application has been successfully completed, the GEMI online service system:

  • It grants a GEMI number and a Registration Code (KAK) for the establishment of the company.
  • Creates an electronic file and the company's share in GEMI.
  • It issues access codes for the GEMI website.
  • Provides the company's information to TAXIS through the AADE online service, in order for the company to receive a VAT number and a key number.
  • He makes an announcement about the establishment of the company.