1. to... om eW elcAndrew Dimitriou, Aristeidis Papathanasiou, ChristinaTsakona, Manos Tavlas, Nayia AntoniouColab Athens | January 12, 2012

2. Incorporation inGreece and CyprusNayia Antoniou, Attorney at Law 3. QuestionsWhere do I incorporate?Which are the options?What is the cost?What do I need to know? 4. ContentsIncorporating in GreecePractical MattersIncorporating in CyprusHighlights 5. Incorporatingin Greece 6. Company types in Greecelow highcostOE EE EPE AEcostpersonallimited liability liabilitysweet spot 7. Company types inGreeceminimum notarial publicity accounting capital deedOE 0no no lowEE 0no no lowEPE4,5kyesmediummediumAE60kyeshighhigh 8. Practical Matters 9. Practical mattersRegistered ofceCapitalFundingBranch 10. Greek Legal Dead-End Gives RequiresGetsInvestor MoneyEquityEquityEntrepreneur Time EquityNothing 11. CapitalCapital must be depositedYou get what you pay (equity Vs money)Do you have a business idea ?YESDo you have $ money $ ? NOCan you participate in a capital company? 12. FundingInvestorMoneyLimited LiabilityEquityShareholders Agreement 13. Solution: New Legal EntityNo principal place of business requiredAlmost zero initial capitalEquity not related to capital contributionComing soon... 14. BranchFormal existence in GreeceEmploy people in GreeceTaxed like a Limited company or an S.ACompanyRegistered ofceObligatory to declare your income from anycountry 15. Incorporatingin Cyprus 16. Benets of CyprusLimited bureaucracyShelf companiesLow taxationFlexibility 17. Cypriot LimitedCompanyNo minimum capital / deposit requiredLimited liability of partnersNominee shareholdersManagers / Secretary / Registered ofcerequired (cost factors) $$$ 18. Highlights 19. Tax in Greece Vs Cyprus DistributedVAT Prots Prots Greece 23%20%25% Cyprus 15%10%0% 20. So, how to decide? Set Up cost (assume 1-4k) Running cost (assume 1-4k annually) Efciency Taxes 21. Remember...Do not panic!Each jurisdiction has pros and consThe decision is yoursChoose your team wisely 22. Thank you!Nayia Antoniou na@nantonioulaw.com