You’ll need a local Greek accountant to register a small business / or as self employed at your local tax office. An accountant and can also advise regarding any qualifications/paperwork required for your profession.
You’ll need the following: -
- An AFM tax number
- An AMKA Social Security number
- Paperwork/qualifications for your profession need to be translated into Greek and approved.
- You need to register at the National Insurance office for self employed – EFKA (OAEE)
- Register the new business with the above paperwork at the tax office.
- Register at the Chamber of Commerce.
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N.B. For any business dealing with food and drink the owner and staff must undertake a series of health checks and obtain a health certificate / book.
COSTS AND TAXES
Initial registration costs & accountant - €100 το €500.
VAT payable on goods and services 24%.
EFKA Nat Ins contributions for self-employed are compulsory and start at €185 per month minimum. These must be paid whether or not you actually make any profit. Monthly contributions increase according to increased profit rates / percentage.
INCOME TAX - tax rate is 26% for self employed and busineses. Tax is charged from the first euro of profit. there is no personal allowance for the self employed. In addition, at the end of the first year of business a 100% tax deposit is payable in advance for the following year i.e. another 26% - a total of 52% tax on profits in the first year.
ACCOUNTANT - Almost all Greeks use an accountant for their quartlerly VAT returns, any payroll, plus yearly tax return. Their cost for a business / self employed are usually somewhere between 50 to 100 euros per month (depending on the workload).
