Buy a Shelf Company in Greece - How to Buy an Aged Entity

An alternative to starting the process of Greek company formation is to buy a shelf company in Greece. The shelf company simply refers to a legal entity that has already been incorporated following the standard registration rules and that is available for sale. Our team of specialists in company formation in Greece can assist you in the process of purchasing a ready-made company.

Quick Facts
Legal entities available for shelf companies	Investors can buy a shelf company in Greece incorporated as a limited liability company (this is the most common legal entity registered here).
Time required to purchase the shelf company	The purchase procedure can be completed in just 1 business day.
Types of features it includes (corporate bank account, VAT number, etc.)	The shelf company can have a corporate bank account, a VAT number, a registered address, a share capital, etc.
The advantages of a shelf company	The advantage investors have when they opt to buy a shelf company in Greece is that they can avoid the time-consuming procedures associated with the standard incorporation formalities. Investors can also benefit from a better business image if they purchase a shelf company that has been incorporated for several years.
Appointing new directors	Businessmen can appoint new directors.
Capital increase allowed (yes/no)	Yes
Certificate of no commercial activities	Investors will obtain a certificate of no commercial activities in the case of shelf companies that did not develop any operations. However, they can also purchase shelf companies that have had commercial activities.
Modify the objects of activity (yes/no)	Yes
Participants in the purchase procedure	The investors, the seller, a lawyer (such as our consultants), the notary public and the competent Greek institutions.
The costs of buying a shelf company	The price is influenced by the legal entity of the shelf company and its age.
Shelf company – definition	A shelf company refers to a legal entity that has been incorporated for the purpose of being sold, as an alternative to the standard process of company incorporation. In most cases, such companies did not develop any business activities. They are registered with local institutions.
Transfer of ownership	The transfer of ownership is made through the sale agreement.
Capital requirements	There aren’t any capital requirements.
Institution in charge with the registration of the new owner	The General Commercial Registry
Due diligence	When investors buy a shelf company in Greece, due diligence is always recommended. This service can be completed by our consultants, who can verify all legal documents, financial documents, do a background check on the owner, previous activities of the company, etc.

What are the main services you offer in connection to a shelf company?

If you have decided to buy a shelf company in Greece, you can rely on our team of specialists for full corporate services required in this case. Our team will assist you in the following ways:

present the available shelf companies that can be purchased;
present the procedure and the documentation required;
obtain the power of attorney from the client in order to obtain legal representation rights;
gather the necessary paperwork;
intermediate the purchase process;
assist the client in making any changes to the documentation with which the shelf company is sold;
report the changes to the authorities;
complete other steps related to company formation in Greece (obtaining a VAT number, an EORI number, obtaining specific business permits and licenses, etc., depending on the new particularities of the legal entity).

Who can purchase a shelf company?

The shelf company can be purchased by any category of investors – it is available for EU and non-EU investors alike, and that includes third party nationals as well. Natural persons and legal entities can purchase a shelf company. If you want to open a new company in Greece, our team can also help you.

What does a Greek shelf company offer?

Usually, a shelf company provides the following elements:

a legal entity – in general, investors will find shelf companies incorporated as limited liability companies;
a trading name;
a legal address;
a field of activity (this must be selected upon the incorporation);
a share capital.

What are the advantages of a shelf company in Greece?

Along with the fact that the investors will not have to go through the process of company registration in Greece, the shelf company provides other several advantages than the ones presented above. Some of them are:

the ownership transfer can be completed in a matter of days (1 to 3 business days), therefore it can reduce the time for starting the company’s activities by several weeks;
the shelf company does not have any prior legal or financial activity, given that these legal entities are dormant (incorporated for sale purposes, without engaging in any commercial activities);
the legal entity is incorporated in accordance with the Greek laws, thus the structure provides full compliance with the current business rules applicable to all companies;
given that the structure is already incorporated, the process of obtaining various permits or licenses (in accordance with the activity that the businessman will develop) can be completed in a timely manner.

In the video below, you can find out the basics of purchasing a shelf company in Greece:

What types of shelf companies are available in Greece?

In Greece, just like in any other European countries, one can find 2 main categories of shelf companies (also referred to as ready-made companies). The 2 categories are:

shelf companies that have been recently incorporated;
aged shelf companies, that have been incorporated for minimum 2 years.

Why should I buy an aged shelf company?

An aged shelf company refers to a legal entity that has been incorporated for many years. The incorporation date can become an advantage if you want to obtain loans – the older the age, the higher the chances of obtaining various benefits, as state authorities and financial institutions prefer to work with companies that have been present on the market for years.

Does a shelf company have prior business activities?

No, in general shelf companies available for sale in Greece do not have any type of previous business activities. They are simply legal entities incorporated to be sold. In all cases, our consultants will verify the available paperwork so that you can rest assured that the respective legal entity is sold without any hidden flaws.

What documents will the investor receive after the purchase?

Some of the documents the owner will receive are:

the company’s statutory documents (the articles of association and the memorandum);
the certificate of incorporation;
the form attesting the transfer of shares;
the certificate attesting the change of trading name (provided that the new owner wants to change the name);
a certificate of non-trading (attesting that the company did not have any business operations – in case of dormant companies).

Below, you can read our infographic on the Greek ready made company:

What changes can be made to a shelf company?

The new shareholders have the right to change the company’s name, to select a new business address, another business field, to appoint new directors, these being some of the main changes that can be brought once the sale of the Greek shelf company is completed.

Are shelf companies liable to taxation?

Yes, a shelf company does not differ from a newly set up business in any way. Therefore, after it becomes active, it needs to comply with all the rules and regulations imposed by the Greek law, which also include tax liability, given that the company is set up for commercial purposes.

We invite you to contact us if you want to buy a shelf company in Greece. We offer the necessary legal support during the sale and in any other matter after the sale has been concluded.