Yes — but the process must follow formal legal and tax steps, even if the business had no activity.
Closing a company in Greece is called liquidation (εκκαθάριση) or dissolution (διάλυση) and involves GEMI, AADE, and often EFKA.
✅ Foreigners can close their company remotely with a Power of Attorney.
📄 Legal Reasons to Close a Greek Company
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Business is no longer active
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Founders relocating abroad
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Switching to a new structure or country
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Partnership breakdown
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Long-term inactivity or tax issues
Whatever your reason, it’s crucial to close your Greek entity properly to avoid future liabilities.
🔁 Overview of the Company Closure Process
| Step | Description |
|---|---|
| 1️⃣ Shareholder/Board Resolution | Decide to dissolve the company |
| 2️⃣ Appoint Liquidator | Usually a lawyer or accountant |
| 3️⃣ Notify GEMI | Submit dissolution decision + legal docs |
| 4️⃣ Final Tax Clearance | File final tax returns with AADE |
| 5️⃣ De-register from EFKA + VAT | Remove company from registries |
| 6️⃣ Publish closure in GEMI | Company officially ceases to exist |
📌 All filings must be done in Greek and submitted through official portals.
📆 How Long Does It Take?
| Action | Estimated Time |
|---|---|
| Resolution drafting | 1–2 days |
| GEMI filings | 5–15 business days |
| Tax clearance | 4–8 weeks |
| Full closure process | 1.5 to 3 months total |
We help foreign owners close companies as quickly as Greek authorities allow.
💼 Who Can Act as Liquidator?
You can appoint:
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Yourself (if in Greece and tax resident)
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Your lawyer or accountant
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A legal rep via Power of Attorney
We act as licensed liquidators for IKE, AE, and branch closures.
📑 Required Documents to Close
| Document | Notes |
|---|---|
| Board/shareholder resolution | Notarized or signed |
| Liquidator appointment | In Greek |
| Tax clearance certificate | From AADE |
| Social insurance clearance | If you had employees |
| POA (if abroad) | Must be notarized + apostilled |
| Financial statements (final) | Must be submitted to GEMI |
💰 Final Tax & Accounting Obligations
Before closure, companies must:
✅ File all pending VAT returns
✅ Submit final E3 corporate tax return
✅ Pay any outstanding taxes or fines
✅ Close business bank accounts
✅ Revoke EIN/VAT number
✅ Deregister from myDATA and TaxisNet
⚖️ We coordinate the tax wrap-up with certified accountants and AADE.
📉 Example: UK-Owned IKE Closing in Thessaloniki
A UK client decided to shut down his Greek IKE after 2 inactive years:
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We drafted the shareholder resolution
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Filed liquidation docs with GEMI
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Submitted zero VAT & final tax filings
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Cleared AADE and EFKA obligations
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Published final notice and deregistered within 7 weeks
The entire process was done remotely using POA.
❗ Common Mistakes to Avoid
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❌ Abandoning the company without formal closure
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❌ Leaving taxes or VAT unpaid
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❌ Not deregistering with GEMI
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❌ Ignoring EFKA or insurance clearance
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❌ Keeping a dormant bank account open
These errors lead to future fines, ineligibility to do business in Greece again, and legal debt recovery actions.
📌 Can I Reopen Later?
If you plan to return to Greece, you can:
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Register a new company from scratch
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Use a different legal form or business model
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Apply again for tax numbers and permits
A closed company cannot be reopened, but lessons learned can guide your next setup.
🧑⚖️ How Borderless Lawyers Helps
✅ Drafts dissolution documents in Greek and English
✅ Acts as your legal liquidator (via POA)
✅ Coordinates with GEMI, AADE, and EFKA
✅ Submits final tax filings + deregistrations
✅ Closes Greek bank accounts
✅ Advises on exit strategies and next steps
💼 We close your Greek company safely, legally, and remotely.
❓ FAQ – Company Closure in Greece
Q: Do I need to visit Greece to close my company?
A: No — we can handle the full process via POA from abroad.
Q: What if my company had no revenue or activity?
A: You must still go through formal liquidation — Greece does not allow passive abandonment.
Q: Will I be fined if I never close it?
A: Yes. Inactive companies still accrue tax filing obligations, leading to fines and legal debt notices.
✅ Ready to Close Your Company in Greece?
If your business journey in Greece has ended, don’t leave loose ends. Borderless Lawyers helps you exit properly — with zero surprises later.
👉 Contact us to close your company in Greece with legal and tax compliance — all handled remotely.