The information contained in this document is marketing material and for informational purposes only. The information contained in this document is presented without any warranty or representation as to its accuracy or completeness and all implied representations or warranties of any kind are hereby disclaimed. Recipients of this document, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this document without seeking appropriate professional advice. The provision of the information contained in this document does not establish any express or implied duty or obligation between Citco and any recipient and neither Citco nor any of its shareholders, members, directors, principals or personnel shall be responsible or liable for results arising from the use or reliance of the information contained in this document including, without limitation, any loss (whether direct, indirect, in contract, tort or otherwise) arising from any decision made or action taken by any party in reliance upon the information contained in this document. © The Citco Group Limited, December 2024.
Greece: changes in the establishment of companies and maintenance of the GEMI
As from the 1st July 2022, Greek entities will not be able to conduct any registrations if they have not complied with certain key legal obligations such as the filing of their annual financial statements. While the entities will continue to stay registered with General Commercial Registry (GEMI), they will not be able to conduct any new filings should any of the below conditions apply to them:
- Non-publication of annual financial statements within the deadline prescribed by law;
- No legal administration/liquidators for more than 6 months;
- No publication of commencement of liquidation balance sheet for more than 1 year as of the start of liquidation process;
- Suspension or deactivation of Tax ID number;
- No certification of payment of initial share capital.
As the entities will no longer be able to complete any new registrations, they will subsequently be unable to comply with further obligations, exposing the company to possible administrative fines ranging from EUR 100 to 100,000.
