GREECE Law and Practice Contributed by: Anastasia Dritsa, Elisabeth Eleftheriades, Vicky Kriketou, Irene Kyriakides, Ioanna Kyriazi, Victoria Mertikopoulou, Claire Pavlou and Panagiotis Pothos, Kyriakides Georgopoulos Law Firm
particularly in infrastructure, technology, defence and data-driven sectors. 2.3 Commitments Required From Foreign Investors The Greek FDI regime allows the authorities to approve transactions subject to conditions or mitigation meas - ures aimed at addressing national security or public order concerns. Although the Law does not provide an exhaustive list of remedies, possible mitigation measures may include governance safeguards, restrictions on access to sen - sitive information or infrastructure, cybersecurity and data localisation obligations, continuity commitments and limitations on the transfer of strategic assets or technologies. The authorities may also monitor compliance with imposed conditions and request information or sup - porting documentation from the parties. Given that the Greek regime only recently became operational and that there is no published decision - al practice, there are currently no clear indications regarding the authorities’ substantive approach to remedies or mitigation measures. 2.4 Right to Appeal Law 5202/2025 does not establish a specific admin - istrative appeal mechanism against FDI screening decisions. However, as a matter of general Greek administrative law, final administrative acts may in principle be chal - lenged before the competent administrative courts and, ultimately, before the Council of State. 3. Corporate Vehicles 3.1 Most Common Forms of Legal Entity The principal corporate vehicles used in Greece are the société anonyme ( Ανώνυμη Εταιρεία – SA) and the private company ( Ιδιωτική Κεφαλαιουχική Εταιρεία – PC), both providing limited liability. Among smaller enterprises, the limited partnership ( Ετερόρρυθμη Εταιρεία – LP) is a commonly used vehicle.
Prior to the introduction of PCs in the Greek legal framework in 2012, the limited liability company ( Εταιρεία Περιορισμένης Ευθύνης – EPE) was the most widely used vehicle for SMEs; however, given its more restrictive formalities (eg, mandatory notarial execu - tion of its articles of association (AoA)), it has gradually fallen into disuse, and new EPE incorporations are rare in practice. SA Main characteristics • A minimum capital of EUR25,000, paid in cash or in kind, is required. • Capital is divided into registered shares; different classes may be issued (ie, ordinary or preferred shares). • Shareholders’ liability is limited to their contribu - tion. • A single shareholder is permitted. • It is managed by a board of directors or, in the case of non-listed small or very small SAs, by a sole director. • Bond and warrant issuance is permitted. • Shares may be traded on Regulated Markets. The SA is the preferred vehicle for large operating companies, regulated entities, public companies and large-sized holding companies. Regulated activities (e.g. credit and financial institutions and investment services activities) may only be conducted through an SA. As a rule of thumb, an SA is more appropriate in case of many shareholders, external investors, or a large volume of business activities. PC Main characteristics • There is no minimum capital requirement. • Contributions are divided into company units. • Partners may contribute through capital contri - butions, non-capital contributions (obligation to perform work or provide services), or guarantee contributions (assumption of personal liability to third parties up to a designated amount). • Partners’ liability is limited to their contribution. • A single partner is permitted (note: mandatory registration with the National Social Security Fund (e-EFKA)). • It is managed by the administrator(s).
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