How to Set Up a Joint Venture (koinopraxia) in Greece, Step-by-step (2026 Compliance)

Last updated: 2 July 2026

Understanding how to set up a joint venture in Greece is essential for any domestic or foreign business seeking to collaborate on a defined commercial project without necessarily incorporating a new company. The Greek koinopraxia, the most common contractual joint venture vehicle, offers structural flexibility, favourable tax treatment in many scenarios, and a relatively streamlined registration pathway through the General Commercial Registry (GEMI) and the Independent Authority for Public Revenue (AADE). With tighter 2026 compliance obligations around anti-avoidance (GAAR), beneficial-ownership reporting and digital registration, deal teams must now navigate additional procedural checkpoints before closing.

This guide sets out the full joint venture process in Greece: eligibility, step-by-step registration, required documents, timeline, costs, and the 2026 regulatory changes that affect every new JV.

Overview of the Joint Venture Process in Greece and Who It Applies To

A koinopraxia is a contractual association of two or more persons, natural or legal, who pool resources to pursue a specific commercial objective without creating a separate legal entity. Its legal basis sits in Article 293 of Law 4072/2012, which governs civil-law partnerships (astiki etairia) and, by extension, contractual joint ventures. The koinopraxia does not acquire its own legal personality; instead, rights and obligations vest in the partners individually or jointly as the agreement provides.

This distinguishes the koinopraxia from a corporate joint venture, where the parties would incorporate a Greek limited-liability company (EPE), private company (IKE) or société anonyme (AE). Parties typically choose a contractual JV when the project is time-limited (e.g. a construction consortium, an EU-funded programme or a public-procurement tender), when they want to avoid the formalities and minimum-capital rules of a corporate vehicle, or when profit allocation needs to follow bespoke ratios rather than pro-rata shareholdings.

Despite its non-entity status, a koinopraxia that carries on commercial activity must register with GEMI and obtain an AFM (tax identification number) from AADE. Income earned by the JV is attributed to each partner in proportion to its participation and taxed at partner level under the Income Tax Code (Law 4172/2013). Where the JV has an independent obligation to file VAT returns, common for construction-sector consortia, it must also register for VAT purposes.

Eligibility and Prerequisites for a Joint Venture in Greece

Greek law imposes few nationality restrictions on JV participation. Both Greek and foreign natural persons, as well as Greek-registered and foreign legal entities, may form a koinopraxia. Foreign partners must, however, satisfy several prerequisites before the JV can operate lawfully.

Eligibility checklist

• Legal capacity. Each partner must have the legal capacity to enter contracts under its home-jurisdiction law. Corporate partners must provide evidence of valid incorporation and authority to act (board resolution or equivalent).
• AFM requirement. Every partner, including non-resident entities, must obtain a Greek AFM number from AADE before the JV can register or commence activity.
• Tax representative. Non-resident partners without a permanent establishment in Greece must appoint a Greek-resident tax representative (or fiscal agent) for dealings with AADE.
• Power of attorney. Foreign partners typically grant a notarised and apostilled (or consularly legalised) power of attorney to a Greek representative who will handle registration filings, sign the JV deed and interact with authorities.
• Sector-specific licences. Certain sectors, construction, energy, telecommunications, financial services, defence procurement, require prior licensing from the relevant regulatory authority. A construction-sector consortium, for instance, requires registration with the Ministry of Infrastructure or a valid MEEP (National Register of Public Works Contractors) classification. The JV cannot lawfully operate until sector-specific authorisations are in place.
• Residence or immigration status. Non-EU nationals who will be physically present in Greece to manage the JV may need a work or residence permit. Immigration requirements are separate from JV registration but should be addressed in parallel.

Step-by-Step Procedure to Set Up a Joint Venture in Greece

The joint venture process in Greece follows a defined sequence from pre-deal documentation through to post-registration compliance. The steps below reflect current practice, including the expanded digital-filing requirements operational from 2026.

Step 1: Agree pre-deal documentation and commercial terms

The partners negotiate and execute preliminary instruments, typically a non-disclosure agreement (NDA) and heads of terms (or memorandum of understanding). These documents record the commercial rationale, each partner’s intended contribution, profit- and loss-sharing ratios, governance arrangements and the project scope. Although not legally required before a koinopraxia can be formed, heads of terms reduce the risk of deadlock during the drafting of the full JV agreement and provide a reference point for advisers.

Step 2: Choose the JV structure and complete the tax pre-check

Before drafting the founding instrument, the parties must decide whether a contractual koinopraxia is the right vehicle or whether a corporate JV (IKE, EPE or AE) would better serve the project. The key variables are:

• Duration and scope. Short-term, project-specific collaborations suit a koinopraxia; ongoing, revenue-generating businesses may benefit from a corporate wrapper.
• Tax and transfer-pricing implications. Because JV income is taxed at partner level, the effective rate depends on each partner’s jurisdiction and tax status. Cross-border JVs with partners in treaty jurisdictions must evaluate permanent-establishment exposure, withholding-tax obligations and, from 2026, enhanced GAAR scrutiny.
• Liability. In a koinopraxia, partners are generally jointly and severally liable for JV obligations unless the agreement and third-party contracts stipulate otherwise.

The tax pre-check should also consider VAT grouping (where relevant), transfer-pricing documentation requirements under Law 4172/2013 and the applicability of the EU Anti-Tax Avoidance Directive (ATAD) provisions transposed into Greek law.

Step 3: Draft and sign the founding instrument (JV agreement)

The joint venture agreement (symvasi koinopraxias) is the constitutive document. Greek law does not mandate a notarial deed for a simple koinopraxia unless the agreement involves the transfer of immovable property or a specific law requires notarisation (as is common in public-procurement consortia). In practice, however, a notarial deed provides evidentiary certainty, is required for GEMI registration of certain JV forms, and is preferred by banks and contracting authorities.

The agreement should, at a minimum, address the following matters:

• Identification of partners and their contributions (cash, assets, services, know-how)
• Profit-and-loss allocation ratios
• Governance structure, managing partner, decision-making thresholds, voting rights
• Scope, duration and milestones of the project
• Representations, warranties and non-compete undertakings
• Dispute-resolution mechanism, arbitration, mediation or Greek court jurisdiction
• Termination triggers and exit provisions, including deadlock-resolution clauses
• Intellectual-property ownership and licensing arrangements
• Confidentiality and data-protection obligations

Step 4: Register the JV and complete statutory filings

Once the founding instrument is signed, the administrative registration sequence begins. The principal filings are:

1. Obtain or confirm each partner’s AFM. File Form M3 (for legal persons) or M7 (for branches/representations) with the competent AADE tax office, or submit electronically via the myAADE portal. Foreign partners without an existing AFM should apply through the Athens Non-Residents Tax Office (DOY Katoikon Exoterikou).
2. Register the JV with GEMI. Submit the founding instrument (notarial deed or private agreement, depending on JV form), a GEMI registration application, partner identification documents and AFM confirmations through the electronic One-Stop Shop (e-OSS) at the GEMI business portal. For a commercial koinopraxia, GEMI registration is constitutive, the JV cannot lawfully commence commercial activity until registration is complete.
3. Register for VAT (where applicable). If the JV will carry on independent economic activity subject to VAT, file a VAT registration application with AADE. Construction-sector consortia and JVs supplying goods or services to third parties typically require a separate VAT number.
4. Register with EFKA (social-security authority). If the JV will employ staff, register as an employer with EFKA (Unified Social Security Fund) and file employee enrolment declarations.
5. Obtain sector-specific business licences. Complete any pending licence applications with the relevant ministry or regulator before commencing the regulated activity.
6. Report beneficial ownership. Submit beneficial-ownership data for the JV to the Central Beneficial Ownership Register maintained via the GEMI platform, in compliance with Greece’s AML/CFT legislation.

Step 5: Activate post-registration compliance systems

After registration, the JV must set up its accounting, invoicing and reporting infrastructure. From 2026, all entities registered with GEMI must use myDATA (AADE’s electronic books platform) for real-time e-invoicing and transaction reporting. The managing partner should also ensure that the JV’s bookkeeping complies with Greek Accounting Standards (ELP, Law 4308/2014) and that transfer-pricing documentation is prepared contemporaneously where the JV involves related parties.

Joint venture process timeline summary

Required Documents for a Joint Venture in Greece

The documents needed for a koinopraxia depend on whether the JV is purely contractual or registered as a commercial entity, and whether any partner is a foreign person or company. The table below lists the core documentation.

All foreign-language documents must be accompanied by a certified Greek translation prepared by a sworn translator or the Greek consular authorities. Apostille (under the Hague Convention) or consular legalisation is required for documents originating outside Greece, unless an applicable bilateral treaty dispenses with this formality.

Timeline and Key Deadlines for Setting Up a Joint Venture in Greece

The total time to establish a joint venture in Greece ranges from approximately four weeks (for a straightforward, non-regulated koinopraxia between Greek partners) to three months or more where sector licences, foreign-partner on-boarding or public-procurement pre-qualification are involved. The timeline table below summarises each stage and its key deadline.

For regulated sectors, the licensing timeline is the critical-path item. Deal teams should submit licence applications in parallel with, or even before, the JV agreement drafting process to avoid unnecessary delays.

Costs, Fees, and Tax Implications of a Joint Venture in Greece

Establishing a koinopraxia is significantly less expensive than incorporating a Greek company, because there is no minimum-capital requirement and the administrative fees are modest. The cost table below provides indicative ranges; actual figures will depend on the complexity of the JV agreement, the number of partners and whether notarisation is required.

Tax treatment at a glance

A koinopraxia does not itself pay corporate income tax. Profits are allocated to each partner according to the JV agreement and taxed at the partner’s applicable rate, 22% for Greek corporate-income-tax payers under Law 4172/2013, or the rate applicable in the partner’s home jurisdiction for non-resident partners (subject to any applicable double-taxation treaty). VAT is charged at the standard Greek rate (24%) on taxable supplies, with reduced rates applying in certain island zones and to specific categories of goods and services.

Withholding taxes may apply to payments from the JV to non-resident partners (dividends, interest or royalties) unless reduced or eliminated by a treaty or the EU Interest and Royalties Directive. Transfer-pricing rules require that transactions between the JV and any related-party partner be conducted at arm’s length, with contemporaneous documentation. The 2026 tax implications are discussed further in the section below.

What Changes in 2026: GAAR, Treaty-Shopping, and Digital Compliance

The 2026 compliance landscape for joint ventures in Greece has shifted materially. The changes fall into three categories: anti-avoidance enforcement, digital registration obligations and beneficial-ownership reporting. Industry observers expect Greek tax authorities to apply these measures with increasing rigour in the context of cross-border JVs.

2026 compliance checklist

The likely practical effect of these 2026 changes is that JV formation timelines may lengthen slightly where cross-border structuring requires upfront substance and treaty-entitlement analysis. Early engagement of specialist counsel is advisable for any JV involving non-resident partners or multi-jurisdictional profit flows.

Common Pitfalls When Forming a Joint Venture in Greece, and How to Avoid Them

• Misclassifying the JV type. Treating a commercial koinopraxia as a purely private arrangement (and skipping GEMI registration) can invalidate contracts with third parties and attract fines. Always assess whether the JV’s activity triggers mandatory GEMI registration under Law 4072/2012.
• Failing to register with GEMI when required. GEMI registration is constitutive for commercial JVs. Operating without it exposes partners to personal liability and regulatory sanctions. File promptly after executing the JV agreement.
• No AFM for foreign partners. A missing or incorrect AFM blocks GEMI registration, VAT invoicing and tax filings. Foreign partners should initiate the AFM application process well before the target signing date.
• Poor tax and transfer-pricing planning. Neglecting to document arm’s-length pricing or failing to evaluate GAAR/treaty-shopping risks can result in tax adjustments, penalties and double taxation. Conduct the tax pre-check at Step 2, not after registration.
• Missing sector-specific licences. A JV that commences regulated activity without the required licence faces injunctions, fines and potential criminal liability for its managers. Map all licensing requirements during the structuring phase.
• Incomplete or improperly legalised documents. Foreign-origin documents lacking an apostille, consular legalisation or certified Greek translation will be rejected by GEMI, AADE and notaries. Build document-preparation time into the project plan.
• Inadequate dispute-resolution and deadlock clauses. A JV agreement without a clear deadlock-resolution mechanism (e.g. escalation, buy-sell, arbitration) can leave partners trapped in an unresolvable disagreement. Negotiate these clauses with the same rigour as the commercial terms.
• Failing to report beneficial ownership or activate e-invoicing. Both are now mandatory for GEMI-registered JVs. Non-compliance triggers administrative fines and, in serious AML cases, potential criminal exposure. Set up beneficial-ownership filings and myDATA integration as part of the post-registration compliance workflow.

Conclusion

Knowing how to set up a joint venture in Greece, and navigating the GEMI registration, AFM and tax-compliance requirements correctly, is the difference between a JV that launches smoothly and one that stalls in administrative limbo. The procedure itself is comparatively straightforward: agree terms, execute the founding instrument, register with GEMI and AADE, obtain any sector licences and activate post-registration compliance systems. What has changed in 2026 is the compliance overlay: tighter GAAR enforcement, mandatory e-invoicing via myDATA, stricter beneficial-ownership reporting and intensified OECD treaty-abuse peer reviews all demand that deal teams build compliance into the structuring phase rather than treating it as an afterthought.

Whether you are starting a business in Greece as a foreigner or expanding an existing Greek operation through a consortium, early engagement with specialist corporate and tax counsel remains the most reliable way to avoid the common pitfalls and meet every 2026 deadline.

Sources

1. GEMI, General Commercial Registry (Official Business Portal / One-Stop Shop)
2. Gov.gr, How to Start a Business in Greece
3. AADE, Independent Authority for Public Revenue
4. Enterprise Greece, Official Investment and Business Guidance
5. EUR-Lex, Council Directive (EU) 2016/1164 (Anti-Tax Avoidance Directive)
6. OECD, Preventing Tax Treaty Abuse (BEPS)
7. Hellenic Parliament, Government Gazette (FEK) Legislative Archive