New companies can set up in as little as 18 minutes

Setting up a company in Greece on a digital platform, without stepping foot at a public service was something of a joke in the country, up until now that is.

Now companies can be set up exclusively on the government’s electronic one stop shop (https://eyms.businessportal.gr/auth) in a service that has been up and running for 22 days and brought in some quick results.

In that period, 65 companies have been set up via this new service, with the time required to do so being as little as 18 minutes for one company.

Most of the new companies (56 percent) needed two hours to complete the procedure while nearly all of one of the companies (90 percent) wound up the procedure within the day.

The new process has cut the cost of setting up a company by 70 percent, according to Finance Ministry officials.

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