How to Set Up a Law 89/1967 Office in Greece (2026): Requirements, Benefits, Timeline

Law 89 Greece requirements are among the most frequently misunderstood aspects of establishing a foreign presence in the Greek market, yet the regime remains one of the most efficient routes for international companies that want a compliant, tightly-scoped footprint in Greece. A Law 89 office allows a foreign company to establish an office in Greece that provides specified support and coordination services exclusively to its parent or affiliated group companies abroad, in exchange for a defined tax treatment based on a cost-plus method. It is important to note that the regime is not simply a passive “liaison” office: it is a licensed establishment operating under the supervision of the competent Greek ministry.

As banking KYC and anti-money-laundering scrutiny intensify through 2026, foreign investors, CFOs and in-house counsel need an accurate, statute-referenced roadmap that covers not only the licensing and registration mechanics but also corporate bank account onboarding. This guide sets out the legal basis, eligibility, benefits, a step-by-step setup checklist, banking documentation, timelines and ongoing compliance obligations.

Law 89 Greece Requirements at a Glance

Before working through the detail, the following summary captures what most decision-makers want to know first. The specifics will vary depending on the company’s home jurisdiction, the documents already in place, the licence sought, and the bank selected for onboarding.

• Time to set up. Typically several weeks to a few months, driven largely by the ministerial licensing process, document readiness and corporate bank account onboarding.
• Typical cost range. Professional, notarial and registry fees usually fall into a modest range for the establishment itself; these figures should be treated as estimates and confirmed with local counsel.
• Main documents. Certificate of incorporation, articles of association, a board resolution appointing the local representative, specimen signatures, and duly notarised, translated and apostilled powers of attorney.
• Key limitation. A Law 89 office may only provide the specified services to its group companies abroad; it cannot carry out commercial or trading activity in the Greek market.

Understanding the law 89 greece requirements in full detail is essential, because errors at the document-preparation stage, particularly around notarisation, apostille and translation, are a common cause of delay.

What is Law 89/1967?, Purpose and Scope

Law 89/1967, published in the Government Gazette (FEK), is the foundational Greek statute that established a favourable regime for foreign companies wishing to set up offices in Greece to provide services to their group or affiliated entities abroad. The original purpose was to attract foreign enterprises to base coordination, support and administrative functions in Greece, offering a clear and predictable legal framework. The regime has been supplemented and substantially modernised by later legislation and administrative decisions over the decades. The essential concept remains: a foreign company may operate an office in Greece that renders defined services (such as consultancy, accounting support, marketing, research and development, data processing and other administrative support) to its parent or group companies abroad.

Under the modern framework, a Law 89 office is taxed on its Greek activities using a cost-plus profit margin determined by the competent authority, rather than being exempt from tax. The office covers its Greek operating expenses through inflows from the foreign group, and its taxable profit is calculated as a mark-up on those expenses. The precise mark-up and tax treatment are set by the competent Greek authorities and should always be confirmed with a Greek tax adviser.

A Law 89 office may take the legal form of a branch of the foreign company or a Greek subsidiary established for this purpose; the structure adopted affects legal personality and certain obligations. Because the office does not sell goods or services to third parties in the Greek market, it operates within a defined, restricted scope. This is precisely why the law 89 greece requirements are structured to confirm, through licensing and ongoing filings, that the office remains within its permitted activities.

The consolidated text of Law 89/1967 and its amendments can be located through the National Printing Office (FEK) and the e-Nomothesia legislation database, which are authoritative primary sources for the statute and any amending references.

Legal Basis, Eligibility and Statutory Requirements

The eligibility principle is straightforward: a foreign company, lawfully incorporated and existing in its home jurisdiction, may apply to establish a Law 89 office in Greece to provide qualifying support services to its group abroad. Admission to the regime requires a licensing decision by the competent Greek ministry, together with an undertaking to employ a minimum number of staff in Greece and to incur a minimum level of annual operating expenses; the specific thresholds are set by the applicable legislation and administrative decisions and should be confirmed with counsel, as they have changed over time.

The company must appoint a local representative and complete the required registration formalities, submitting authenticated corporate documents that demonstrate its valid existence and the authority of the persons acting on its behalf. Notarisation and, where the document originates outside Greece, apostille or consular legalisation are integral to satisfying the law 89 greece requirements.

Key Legal References for Law 89 Greece Requirements

When assembling a file, counsel will typically rely on the following primary and regulatory sources:

• Law 89/1967 (FEK), as amended. The founding statute and its consolidated text, establishing the regime, its permitted scope and the cost-plus taxation basis.
• Competent ministerial framework. The licensing decisions and administrative acts governing admission to the regime, minimum staffing and expenditure undertakings, and supervision.
• General Commercial Registry (GEMI) rules. The procedural framework governing registration of foreign entities and their establishments in Greece, including required documentation and the issuance of registration numbers.
• Bank of Greece guidance. Supervisory expectations on KYC and AML relevant to corporate bank account onboarding.
• EU AML Directives (EUR-Lex). The customer due diligence and beneficial ownership framework applicable in Greece.

Because the regime interacts with company law, tax registration and banking compliance, the practical law 89 greece requirements are best approached as an integrated file rather than a single filing.

Benefits of Using a Law 89 Office, Law 89 Benefits Greece

The commercial appeal of the regime rests on a combination of a predictable tax basis and a clear legal footing for concentrating group support functions in Greece. Foreign companies evaluating the route consistently cite the same advantages, which explains why interest in law 89 benefits Greece remains strong among groups establishing or restructuring their regional presence.

• Predictable cost-plus tax treatment. Taxable profit is determined by a mark-up on the office’s Greek operating costs, providing certainty for planning; the precise position should always be confirmed with a Greek tax adviser.
• A defined, supervised framework. The regime offers a recognised legal basis for centralising group services in Greece under ministerial oversight.
• A compliant base for group support functions. The office provides a lawful platform for coordination, consultancy, research and administrative support delivered to the group abroad.
• Access to Greek talent and infrastructure. The regime supports employment of qualified staff in Greece to service the group.

The principal limitation is equally important: a Law 89 office may only provide the specified services to group companies abroad and cannot carry out commercial or trading activity in the Greek market. Crossing that line risks reclassification, additional tax exposure and penalties, so the scope must be respected in practice, not merely on paper. The law 89 greece requirements are calibrated precisely to preserve this restricted character.

Law 89 Office vs Branch vs Subsidiary, Practical Comparison

Choosing the right structure is the first strategic decision, and it should precede any registration steps. The three most common options, a Law 89 office, a conventional branch, and an ordinary trading subsidiary, differ fundamentally in the activities permitted, the basis of taxation, and their obligations. The table below summarises the practical distinctions to help align the structure with the company’s commercial objectives.

When to Choose Each Structure

• Choose a Law 89 office when the objective is to provide support, coordination or administrative services to the group abroad, benefiting from the cost-plus tax basis, without local sales or invoicing to third parties in Greece.
• Choose a branch when the parent intends to trade directly in Greece but does not want a separate legal entity.
• Choose a subsidiary when the group wants limited liability, a distinct Greek entity, and full commercial capacity.

Step-by-Step Setup Checklist, Set Up Law 89 Greece

This section is the practical core of the guide. It sets out, in chronological order, the actions required to set up a Law 89 office in Greece, from initial suitability assessment through to post-registration obligations. Working methodically through each phase, and preparing the corporate documents correctly at the outset, is the most reliable way to satisfy the law 89 greece requirements without avoidable delay.

Pre-Decision and Suitability Review

Begin with due diligence on the intended activities. Confirm that the functions to be performed in Greece are genuinely support and coordination services rendered to group companies abroad that fall within the permitted scope, and that the company can meet the minimum staffing and expenditure undertakings. If any element involves local trading, invoicing or sales to third parties in Greece, a branch or subsidiary is the correct structure instead.

Documents the Foreign Company Must Prepare

Assembling a complete, correctly authenticated document set is the single most important determinant of a smooth process. The foreign parent will generally need to prepare the following, each notarised and, where issued outside Greece, apostilled or consularly legalised, then officially translated into Greek:

• Certificate of incorporation (or equivalent evidence of valid existence) of the foreign company.
• Articles of association or constitutional documents.
• Board resolution approving the establishment of the Law 89 office in Greece and appointing the local representative.
• Specimen signatures of the authorised signatories.
• Tax identification details in the home jurisdiction.
• Powers of attorney authorising the local representative and advisers to act.
• A business plan or description of the services to be provided to the group, as required for the licence application.

Every document that crosses a border must satisfy the authentication rules that apply to its country of origin. Getting this right first time prevents the resubmission cycles that most often derail the law 89 greece requirements timeline.

Ministerial Licence and Filing at GEMI

Admission to the Law 89 regime requires an application to and a licensing decision by the competent Greek ministry, following which the office is registered through the General Commercial Registry (GEMI). The process involves filing the authenticated corporate documents, evidencing the appointment of the local representative, submitting the description of services and the required undertakings, and completing the registration steps. On successful completion, the office receives its registration details and identifying numbers, which formalise its presence in Greece.

The local representative plays a central role: this individual is the point of contact through whom the office interacts with Greek authorities. Appointing a representative with the appropriate authority, properly documented in the board resolution and power of attorney, is essential, because gaps in the chain of authority are a frequent cause of queries. The GEMI framework and its documentation requirements should be reviewed against the current rules published by the registry, since procedural detail can be updated.

Notarial Acts, Powers of Attorney and Translations

Powers of attorney intended for use in Greece must be executed and authenticated correctly. For documents originating in a country that is party to the Hague Apostille Convention, an apostille is generally sufficient; for documents from non-convention countries, consular legalisation is required instead. Once authenticated, the document must be officially translated into Greek. Guidance on notarial formalities and the proper execution of powers of attorney in Greece is available from the Athens Bar Association, and it is prudent to confirm the exact form before signing abroad.

Tax Registration (AFM / VAT / Tax Agent)

A Greek tax identification number (AFM) is required for the office and its representative to interact with the tax authorities and to open banking facilities. The office is taxed on the cost-plus basis described above. The VAT position depends on the nature of the services provided and should be confirmed with a Greek tax adviser, as intra-group cross-border services may fall under specific VAT rules. Appointing a local tax agent or accountant to manage registrations and filings is standard practice and helps ensure that the office remains within the boundaries of the law 89 greece requirements.

Employment, Secondments and Work Permits

A Law 89 office is expected to employ staff in Greece and must meet the minimum staffing undertaking applicable to the regime. Full employer obligations arise, including registration for social security. Non-EU nationals will generally require the appropriate work and residence permits. These employment and immigration steps run in parallel with the licensing and registration process and should be planned early, since permit processing can extend the overall timeline.

Post-Registration Obligations

After establishment, the office must maintain proper books and records, meet its periodic tax and filing obligations, respect the minimum expenditure and staffing undertakings, and confine its activities to the permitted scope of services to the group abroad. Ongoing compliance is what preserves the office’s status and keeps it aligned with the law 89 greece requirements.

Opening a Corporate or Non-Resident Bank Account in Greece

Corporate banking is frequently the rate-limiting step. Greek banks apply enhanced customer due diligence to non-resident corporate clients, reflecting Bank of Greece supervisory expectations and the EU anti-money-laundering framework. A well-prepared onboarding file, mirroring the care taken over the registration documents, significantly improves both speed and outcome.

Standard Bank Documentation Checklist

Banks will typically request the following, with foreign documents notarised and apostilled or legalised, and translated into Greek where required:

• Corporate documents: certificate of incorporation, articles of association and evidence of good standing.
• Evidence of the Greek registration of the Law 89 office and its identifying numbers.
• Board resolution authorising the opening of the account and identifying the authorised signatories.
• Identification of authorised signatories (passports/ID and proof of address).
• Beneficial ownership declaration identifying the ultimate beneficial owners, in line with EU AML requirements.
• Greek tax identification (AFM) for the office and, where relevant, the signatories.
• Powers of attorney where advisers or representatives will act on the account.

Personal and beneficial-owner data gathered during KYC must be handled in accordance with data protection obligations, on which the Hellenic Data Protection Authority provides guidance.

Which Banks to Consider and Selection Criteria

There is no single “best” bank for foreigners; the right choice depends on the company’s profile and priorities. Sensible selection criteria include international presence and correspondent banking reach, the availability of any remote or partial online onboarding, the quality of corporate services, fee structures, English-language support, and expected onboarding speed. The Bank of Greece maintains the authoritative register of supervised credit institutions, which is the correct starting point for identifying licensed banks and comparing options. A number of international banks maintain operations or correspondent relationships relevant to Greece, so investors seeking a non-resident bank account in Greece should shortlist candidates against these criteria and confirm current onboarding practice directly.

Typical Timeline and Risks

Bank onboarding commonly takes anywhere from a few weeks to a couple of months, depending on the institution and the intensity of KYC. Incomplete beneficial-ownership information or defective document authentication are the leading causes of delay.

Ongoing Compliance, Tax and AML Obligations

Once the office is operational, compliance becomes a continuous discipline rather than a one-off event. The overriding rule is that the office must continue to provide only the permitted services to the group abroad and must meet its licensing undertakings on staffing and expenditure. Beyond that, the office must meet its periodic tax, filing and bookkeeping obligations and cooperate with the banking sector’s ongoing customer due diligence.

Anti-money-laundering compliance sits at the centre of the banking relationship. Banks in Greece operate under Bank of Greece supervision and the EU AML Directive framework, which mandate customer due diligence and beneficial ownership disclosure. If the office’s activities ever change so that it provides services to third parties in Greece, the structure and its tax and VAT treatment would need to be reassessed. Handling personal and beneficial-owner data throughout these processes must respect data protection obligations under the guidance of the Hellenic Data Protection Authority. Staying inside these boundaries is what keeps the office consistent with the law 89 greece requirements over its lifetime.

Typical Timeline, Costs and Sample Phasing

The overall project generally runs across a small number of overlapping phases. As a working estimate, expect the following sequence, with total elapsed time depending on the ministerial licensing process, document readiness and bank onboarding:

1. Preparation. Suitability review, drafting corporate resolutions, the service description and powers of attorney, and arranging notarisation, apostille and translation.
2. Notarisation and authentication (overlapping). Executing and authenticating documents in the home jurisdiction.
3. Licence application. Submitting the application to the competent ministry and obtaining the licensing decision.
4. Registry filing. Submitting the file to GEMI and obtaining registration.
5. Tax registration. Securing the AFM and appointing a tax agent.
6. Bank onboarding. Completing KYC and opening the corporate account.

Professional, notarial and registry fees vary with complexity and jurisdiction, and any figures should be treated as estimates to be confirmed with counsel rather than fixed quotations.

Common Issues, Pitfalls and Risk Mitigation

Most problems are foreseeable and preventable. The recurring pitfalls, and how to mitigate them, are:

• Providing services to third parties in Greece. Confine the office strictly to permitted group-support functions; if local trading is intended, use a branch or subsidiary.
• Failing the staffing or expenditure undertakings. Plan headcount and budget to meet the applicable minimum thresholds throughout the licence period.
• Non-compliant KYC documents. Prepare a complete beneficial-ownership file before approaching the bank.
• Incorrect notarisation or apostille. Confirm authentication rules for the document’s country of origin before signing.
• Misunderstanding the tax and VAT position. Confirm the cost-plus basis and VAT treatment with a Greek tax adviser and reassess if activities change.
• Payroll and work-permit misunderstandings. Plan employment and immigration steps early for local and seconded staff.
• Bank onboarding delays. Select the bank against clear criteria and submit a complete file at the outset.

Conclusion and Next Steps

For foreign companies that need a compliant, tax-predictable base in Greece for group support functions, the Law 89 route remains an efficient and well-established choice, provided the office stays within its permitted scope and meets its licensing undertakings. Meeting the law 89 greece requirements is a matter of disciplined document preparation, a properly supported ministerial licence application, correct registration at GEMI, timely tax registration, and a carefully managed corporate bank account onboarding aligned to 2026 KYC and AML expectations. Confirm at the outset that the intended activities are genuinely support and coordination services to the group abroad, assemble a fully authenticated document set, and engage experienced local counsel to steer the licensing, registry and banking steps.

Readers evaluating this structure can explore GLE’s related Greek commercial guidance and connect with specialist commercial counsel to plan a bespoke setup.

Sources

1. National Printing Office (Government Gazette, FEK)
2. e-Nomothesia (Greek legislation database)
3. General Commercial Registry (GEMI)
4. Bank of Greece
5. EUR-Lex (EU legislation, AML directives and VAT rules)
6. Athens Bar Association (D.S.A.)
7. Hellenic Data Protection Authority (HDPA)