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Establishment of IKE – Establishment process 
TaxProtection - Kasimatis Stylianos - Accounting Office - Santorini



The Private Capital Company (PIC) is a new corporate form with legal personality and commercial activity, despite the fact that its purpose is not necessarily commercial. According to it, the company bears exclusively its obligations, without affecting the partners individually. Also, the IKE can consist of one or more partners or be a single person.

The capital of the IKE is determined by the partners without limitation, and may even be zero. Partners can participate in the company with capital, non-capital or guarantee contributions.

Supporting documents for the formation of an IKE (Private Capital Company):

  • Application – Responsible statement – Authorization to GEMI (General Commercial Registry) based on annex: Form with founder natural person, Form with founder legal person.
  • Articles of Incorporation, original and signed (Standard IKE Articles of Association according to GEMI).
  • Two articles of association of the OE, EE, IKE under establishment in paper form signed by the founders or by those having a special notarial power of attorney and one in electronic editable format (doc).
  • Proof of full capital payment where required by law for company formation.
  • Proof of address: Lease contract with the representative's TIN (Tax Registration Number), posted on the taxi.
  • The new D211 start of work form.




IKE Statute. Supporting Documents Establishment of IKE - Establishment of I.K.E:

  • In order to start the process of establishing an IKE (Private Capital Company), interested parties must draw up its articles of association. The articles of association may arise from a simple private agreement and do not need to be a notarized document. Usually, the lawyer drafts the statute, adapting it according to the needs of the newly formed IKE company.

    IKE has a minimum founding capital of €1. For the initial corporate capital of the IKE, the initial expenses and the first investments of the company must be calculated exactly, as Capital Accumulation Tax (CTA) is not imposed on the initial corporate capital, but only in case of its increase in the future.

IKE Recommendation – One Stop Service (SSO) through GEMI:

  • YMS supervises the submitted applications and submitted documents to check the completeness of their details for the establishment of the IKE (Private Capital Company). If a document is missing, a deadline is set for its submission. It is stated, however, that when the IKE is created by converting another company, the procedure is not followed through the YMS.

    The conditions for registration of the partners in the EFKA (Uniform Social Security Agency) are not checked during the establishment process of the IKE. However, partners are obligated to correct any outstanding issues with their insurance carrier. In addition, it is the responsibility of the partners to inform EFKA about the establishment of the new company.

    For the establishment of the IKE, it is possible to use the One Stop Electronic Service (e-YMS) platform, eliminating the need to stay in other public services.




IKE recommendation through GEMI's One Stop Service (YMS).

The establishment of a company can now be carried out exclusively through an electronic process by its founders, using the special platform provided by GEMI on the website https://eyms.businessportal.gr. This applies to the establishment of an IKE (Private Capital Company).

Due to electronic procedures, there is no need to post another bylaw. Instead, the founders register a model statute, which is filled in with the required information via the online form. Next, a check is made for the availability of the company name.

One of the advantages of establishing a company online is the lower cost compared to the establishment in the classic way, as no incorporation fee is required.

The standard articles of association are signed electronically by the founders of the company. If the standard statutes are not used, then the establishment process must be carried out through the classic Chambers One Stop Services.

After the application is successfully completed, the e-YMS system provides:

  • GEMI number and Registration Code (KAK) for starting the company.
  • Creation of an electronic File and Portion for the company in GEMI.
  • Provision of access codes for the GEMI website.
  • Transmission of the data to TAXIS through the AADE online service, in order for the company to obtain a VAT number and key number.
  • Announcement on the establishment of the company.