Five steps to start your own business in Greece

Five steps to start your own business in Greece
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Thousands of entrepreneurs and freelance professionals may have suspended their professional activity, yielding to the weight of insurance contributions and over-taxation, but many are still deciding to go ahead and start their own business.

Usually taxpayers employ accountants who are familiar with the public sector bureaucracy in setting up their enterprise, but others decide to handle the process, which takes 3-5 days, themselves.
Five steps
Those who are decided upon setting a business on their own can take the following steps:
1. Choose a professional activity and the corresponding tax bureau professional Activities Code Number (KAD). One can declare one primary activity and a number of secondary ones.
2. Determine the headquarters of the business. If the seat of your business is a property that you own or on which you have usage rights, you must submit the E9 tax office form, which details the complete property holdings of a taxpayer. In cases where parents or relatives offer you use of the property free of charge, the parents must signed a notarised statement to that effect and submit their E9 and E1 forms, the latter detailing the taxpayer’s general economic status and all income. They must also submit an online statement through the tax office’s TAXIS online platform, declaring the gift to the beneficiary.
3. Pre-register with the EFKA social insurance fund and the Chamber of Commerce.
4. Register with the tax bureau that covers the location of the business headquarters to commence business activities. There, one must present all the documentation collected from the previous steps. At the tax office, one must also fill out an M2 form, including the business activity’s code number, and receive certification that the business has been declare at the tax bureau.
5. Finalise registration with EFKA and the Chamber of Commerce. To that end, one must provide EFKA a photocopy of the tax bureau’s business commencement certification. One must also buy a stamp bearing the name, activity, address, telephone number, local tax office, and tax registration number of the business, as well as a revenues-expenditures book and a receipts book.

If your business requires a cashier’s machine, one must declare its operation through the TAXIS system

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