The digital transition of businesses is progressing at a rapid pace and by the end of the year all legal forms of companies will be established with the new standard articles of association, either through the One Stop Service or through the electronic One Stop Service (e-YMS).

From May 1, 2024, the standard articles of association and the standard articles of incorporation with additional content for the civil company, joint venture, and limited liability company will be available. From 1 July 2024, the standards will be available for urban cooperative, renewable energy community and citizen energy community, followed from 1 October 2024 for limited liability social cooperative, social cooperative enterprise and worker cooperative.

Finally, from 1 December 2024 the standard statutes for the European company, the European cooperative company and the European economic purpose group will be available.

It is recalled that, since last March, the establishment of a company through the one-stop electronic service of the standard statutes applies to five legal forms of companies, namely SA (Stock Company), LLC (Limited Liability Company), IKE (Private Capital Company), EU Limited Partnership) and OE (General Partnership).

As he had stated the Minister of Development Kostas Skrekas when the relevant decision was published in order to simplify and homogenize the process of setting up a company, through the One Stop Service and the One Stop Electronic Service (e-YMS):

“We continue to work every day to break the shackles of bureaucracy that plagues professionals and citizens. The friendly business environment that the Government is building is in practice. The possibility of electronic incorporation of a company is extended to 12 more legal forms. Time-consuming bureaucratic procedures are simplified, entrepreneurship is promoted and facilitated, especially by young people. Simplifying, standardizing and digitizing all processes tackles bureaucracy at its root. Our government is changing Greece and proves it every day.”

Short questions – answers about the model articles of association

Clarifying “short questions-answers about the STANDARD STATUTES” concerning 17 different legal forms have been issued by the GEMI-YMS department of the Ministry of Development. More detail:

1. What is a model statute?

It is the statute which includes exclusively the minimum mandatory content, as defined in the legislation that governs each corporate form and is completed by the interested parties only in terms of the elements that differentiate their company from other companies of the same legal form.

2. What is the model statute with additional content?

It is the standard statute, to which additional articles are optionally added, the number and content of which is freely chosen by the founders, provided that the elements of the minimum mandatory content are not modified or revoked and mandatory law provisions are not violated.

3. What more does the standard statute with additional content offer?

The addition of additional articles to the standard statute aims to create a more complete and better statute according to the will of the founders.

To supplement articles with additional content, the following restrictions should be considered:

  • the additional content of the statute may not modify or negate the elements included in the mandatory content of the statute. In the event of the existence of provisions with these characteristics, then the provisions of the articles of the mandatory content prevail
  • Additional content is prohibited from violating mandatory law provisions.
  • The additional content should not refer to a repetition of provisions provided for by legal type, but mainly to issues that the law in question leaves to the discretion of the partners to decide on their own regulation.

4. Which companies are set up with a standard statute and a standard statute with additional content?

  • The General Partnership
  • The Limited Company
  • The Civil Society
  • The Consortium
  • The European Economic Group
  • The Société Anonyme
  • The Limited Liability Company
  • The Private Equity Company
  • The European Society
  • The Limited Liability Company by Shares.
  • The Urban Cooperative
  • The Renewable Energy Community
  • The Citizens’ Energy Community
  • The European Co-operative Society
  • The Limited Liability Social Cooperative 16. The Social Cooperative Business
  • The Workers’ Cooperative.

5. In which cases can I use the model statute with minimal or mandatory content?

The standard articles of association must be used when setting up a company with a private document, which is carried out at the One Stop Service at any Chamber in the country and when setting up through the electronic Company Incorporation Service (e-YMS).

6. When can the model statute not be used?

When the capital is paid with/or contributions in kind for which the notarial form is required or is required by more specific legislation, then the establishment is carried out by the certified notary-YMS.

7. In case of using a model statute with additional content, will the recommendation be completed without any prior legality check?

No, in the new e-IMS, a legality check by the competent Services has been integrated, every time a legality check is either required by the legislation or chosen by the interested parties.

8. When I make an electronic recommendation, do I fill in and upload the standard statute to the information system?

No, in the case of incorporation of the company through the electronic One Stop Service, the articles of association are automatically generated by the system, after the electronic completion of all fields. Only in the case of setting up a company through the Chamber’s HYGEMI, the corporate agreement (standard articles of association) is submitted to the competent service completed and signed by all the founders.

9. Where can I find the new model articles in editable form?

On the website of the Ministry of Development https://gge.mindev.gov.gr/tomeas-emporiou/thesmiko-plaisio-genikes-plirofories/, where there is also additional useful material