BUSINESS

Setting up a business will take up to two days

DIMITRA MANIFAVA

TAGS: Economy

Setting up a company will be done automatically or will only take two days at the longest as of July 22, according to a joint ministerial decision determining the mode of operation and the stamp duties at the one-stop shops for establishing an enterprise.

By being set up at one-stop shops, companies are automatically entered into the tax register and receive an registration number (AFM), while the one-stop shop will also automatically inform the Single Social Security Entity (EFKA).

According to the decision, the time for setting up a company will be reduced to two working days. When an application to start a company is submitted at the one-stop shop, the latter must examine all relevant documents and data, and, if the legal prerequisites are met, the process should be completed on the same day or the next.

If inspections reveal that the documents are insufficient to meet the legislation’s demands, applicants will be asked to provide the necessary clarifications within five working days, or the application will be rejected.

Applicants also have the option of submitting all documents online, at https://eyms.businessportal.gr, where the setting up of the company is conducted automatically.

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