Accounting Services & Establishment

of a foreign shipping company’s office in Greece (L. 27/1975)

According to Article 25 of Law 27/1975, specific issues are regulated, related to the required supporting documents and the procedure for the establishment of offices in Greece or branches of foreign shipping companies, as well as any other necessary details”.
Those foreign shipping companies as well as the national companies similar to them, who are interested in establishing an office or branch in Greece under the provisions of article 25 of Law 27/75, are obliged to submit to the Directorate of Maritime Policy and Development of the Ministry of Shipping and the Aegean (currently the Directorate of Shipping) the following supporting documents:

Foreign Shipping Companies
a.    An application stating the exact name, registered office and nationality of the company, the type under which it operates as well as its activity in the country of its registered office, the specific objective of its office in Greece and its legal representative.
b.    Statute of the company (Articles of Association) or a certified copy thereof, as well as the official translation in Greek, from which the shipping objective of the company can be clearly derived.
c.    Minutes of the Board of Directors of the Company, duly certified for the authenticity of the signature, stating that a decision has been rendered to establish an office in Greece and to appoint its representative.
d.    A certified copy of a recent certificate (no more than two months from the submission) of the relevant Consulate in Greece or the competent authority of the country at the company’s headquarters from which it appears that the applicant company exists and operates legally in its country (Certification of Good Standing)
e.    Declaration of Law 1599/86 of the company’s representative in Greece, duly considered for the authenticity of the signature, from which to emerge:
aa) The acceptance of his appointment as a representative of the Office or branch of the Company in Greece
bb) That the objective of the works of the office or branch of the company is limited exclusively to ships with Greek or foreign flag with a total capacity of more than five hundred (500) gross tonnage, with the exception of passenger ferries and merchant ships operating domestic voyages.
cc) In the case of offices or branches of companies engaged in the management or operation of ships, the name, the flag, the International Distinguishing Sign (IAS), the IMO number and the capacity of the ships which it manages or operates should be mentioned, as well as photocopies of the ships’ nationality documents to be attached.
f.     If the company under establishment is a sole manager, then a document of the shipowner or bareboat charterer or a lessee of a bare boat under financial lease (ship lessee) or the operator of the ship is required, unless the management is carried out by a management company of article 25 of Law 27/75, duly considered for the authenticity of the signature, with the data referred to in sub-indent cc of paragraph e, from which the assignment of the management to the company’s office or branch under establishment to derive. However, if the company under establishment is a shipowner, a certified photocopy of the ship’s nationality document is required.
With the submission of the application for granting an office establishment license in Greece of foreign shipping companies or subordination of domestic companies to the provisions of article 25 of Law 27/75, as in force, there will also be a Public Fund Fee of an amount equal to the equivalent in Euros of $2,000 USD dollars.
The above fee is also required for any modification of the valid establishment license.
Exceptionally, this fee is not required in case of modification of the license in order to limit the company’s activities provided therein.

Can we help ?
Contact us today about any of your issues.

Update, everything you need to know about current developments

site (26)
site (25)
site (18)
The expense for online advertising paid by Greek companies to foreign businesses is considered payment of royalties