Register a Private Limited Company in India from Greece

How to Register a Private Limited Company in India from Greece

A Private Limited Company is the most widely used business structure for Greek investors establishing operations in India. It offers limited liability protection, a separate legal identity, the ability to hold assets and enter contracts independently, and the flexibility to raise equity from Indian and international investors. It is also the required structure for establishing a Wholly Owned Subsidiary.

India-Greece relations have gained significant momentum following the elevation of ties to a "Strategic Partnership" during Prime Minister Narendra Modi's visit to Athens in August 2023, when both sides also set the target of doubling bilateral trade by 2030. That momentum continued with Greek Prime Minister Kyriakos Mitsotakis' visit to India in February 2024. Greece positions itself as "India's Gateway to Europe" through the India-Middle East-Europe Economic Corridor (IMEC), and the first direct India-Greece flights (Delhi and Mumbai to Athens) began operating in January 2026, further catalyzing business activity. Key sectors for bilateral investment include renewable energy, infrastructure, shipping, tourism, technology, and real estate. For Greek companies evaluating Indian market entry options, see Private Limited vs LLP and Subsidiary vs Branch Office.

FDI Route and Regulatory Requirements

Greek investors can establish a Private Limited Company in India under the automatic route without prior government approval. Most sectors in India, including IT, consulting, manufacturing, trading, infrastructure, and professional services, permit 100% Foreign Direct Investment under this route.

Key Regulatory Points for Greek Investors

• Press Note 3 does not apply: Greece does not share a land border with India, so Press Note 3 (2020) restrictions requiring government approval for investors from neighbouring countries do not apply to Greek investors
• EU investor advantages: As an EU member state, Greek companies benefit from established regulatory frameworks and strong bilateral investment protections. Greece is also a member of the OECD, adding further credibility to cross-border investments
• No minimum capital requirement: There is no statutory minimum paid-up capital for a Private Limited Company in India. A typical authorized capital of INR 1 lakh to INR 10 lakh is set based on business requirements
• Director requirements: Minimum 2 directors, with at least 1 resident of India (having stayed in India for at least 182 days in the preceding financial year)
• Shareholder requirements: Minimum 2 shareholders, with the Greek investor permitted to hold up to 100% through the automatic route

Sectors requiring government approval include multi-brand retail, defence above 74%, media broadcasting, and certain telecom activities. For sector-specific guidance, consult our FDI Advisory service or review the Consolidated FDI Policy.

DTAA Benefits for Greek Investors

India and Greece have an active Double Taxation Avoidance Agreement (DTAA) that has been in force since 17 March 1967, making it one of India's oldest tax treaties. The agreement covers taxes on income and capital and provides important benefits for Greek investors in India.

Key Treaty Provisions

• Business profits: Profits of the Indian Private Limited Company are taxed in India. The DTAA ensures that the same income is not taxed again in Greece by providing relief through the credit method
• No reduced withholding rates: Unlike India's modern tax treaties, the 1967 India-Greece agreement is an early-generation treaty that contains no articles capping withholding tax on dividends, interest, royalties or fees for technical services. These payments remain taxable in the source country at its domestic rates
• Dividends: Withholding tax on dividends paid to Greek shareholders is charged at India's domestic rate of 20% (plus applicable surcharge and cess) under Section 115A — the treaty offers no lower rate
• Interest: Withholding tax on interest paid to Greek entities is charged at the applicable Indian domestic rate (20% under Section 115A, plus surcharge and cess), with no treaty cap
• Royalties and fees for technical services: Taxed at India's domestic rate of 20% (plus surcharge and cess) under Section 115A following the Finance Act 2023. The treaty does not provide a reduced royalty or FTS rate
• Capital gains: Gains on the sale of shares in the Indian company are subject to Indian capital gains tax — long-term gains on unlisted shares are taxed at 12.5% without indexation following the Finance Act 2024. Greek investors should take treaty-specific advice on the position under the 1967 agreement
• Credit method: Greece grants credit for taxes paid in India, eliminating double taxation

Because the India-Greece treaty does not reduce Indian withholding rates, Greek recipients of Indian-source dividends, interest, royalties or technical service fees should budget for India's full domestic withholding rates and rely on the credit Greece grants for Indian tax paid. Greek investors should still obtain a Tax Residency Certificate from the Greek tax authority and file Form 10F in India for any treaty position taken. See our India-Greece DTAA analysis for detailed planning.

Document Requirements and Authentication

Greece is a member of the Hague Apostille Convention. Greek documents intended for use in India require an apostille from the Greek Apostille Authority (Decentralized Administration or Court of First Instance), which is significantly faster and simpler than the embassy attestation process required for non-Hague Convention countries. See Apostille vs Embassy Attestation for details.

Documents Required from Greek Directors/Shareholders

• Passport copy (all pages) of each Greek director and shareholder, apostilled
• Proof of address (utility bill, bank statement, or government-issued ID not older than 2 months), apostilled
• Passport-size photographs of each director
• If a corporate shareholder: Certificate of Incorporation, Memorandum of Association (or equivalent Greek corporate document), and Board Resolution authorizing investment in India, all apostilled
• Power of Attorney in favour of an Indian authorized representative (apostilled)
• Greek documents in the Greek language must be accompanied by a certified English translation, also apostilled

Documents Prepared in India

• Digital Signature Certificate (DSC) for all proposed directors
• Director Identification Number (DIN) application for foreign directors
• SPICe+ Part A (name reservation) and Part B (incorporation) forms
• e-MOA (INC-33) and e-AOA (INC-34)
• Declaration in Form INC-9 by each subscriber
• AGILE-PRO-S for simultaneous GST, EPFO, ESIC registrations

Step-by-Step Registration Process

The registration of a Private Limited Company in India from Greece follows the SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus) integrated process through the MCA portal.

Step 1: Obtain Digital Signature Certificates (DSC)

All proposed directors must obtain a Class 3 DSC from a certified authority in India. Greek nationals can apply using their passport as ID proof and apostilled address proof. Timeline: 2-3 working days.

Step 2: Apply for Director Identification Number (DIN)

DIN is integrated into the SPICe+ incorporation form. Greek directors do not need a separate DIN application. The MCA portal generates DIN numbers upon successful processing of the incorporation application.

Step 3: Reserve Company Name via SPICe+ Part A

File SPICe+ Part A on the MCA portal to reserve the company name. Up to 2 name choices can be submitted. The name must include "Private Limited" as a suffix. The RoC typically approves name reservations within 2-3 working days.

Step 4: File SPICe+ Part B for Incorporation

After name approval, file SPICe+ Part B (INC-32) along with e-MOA (INC-33), e-AOA (INC-34), AGILE-PRO-S (for GST, EPFO, ESIC registrations), and INC-9 declarations. Attach all apostilled Greek documents. The Registrar of Companies (RoC) reviews and issues the Certificate of Incorporation within 3-5 working days.

Step 5: Post-Incorporation RBI Compliance

Within 30 days of share allotment to the Greek investor, file FC-GPR (Foreign Currency-Gross Provisional Return) with the RBI through the FIRMS portal. This mandatory filing reports the foreign investment received by the Indian company. Issue share certificates and update the register of members.

Step 6: Open a Bank Account

Open a current account with a scheduled commercial bank in India. The bank conducts KYC verification. Remit the initial share subscription amount from Greece through SWIFT or SEPA banking channels in freely convertible foreign currency (EUR or USD) to the company's Indian bank account.

Timeline and Costs

The end-to-end timeline for incorporating a Private Limited Company in India from Greece is approximately 3-5 weeks — faster than non-apostille countries thanks to the streamlined apostille process:

Cost Breakdown

• Government fees (MCA): INR 2,000-6,000 (based on authorized capital)
• Stamp duty: INR 3,000-15,000 (varies by state of registration)
• DSC fees: INR 1,500-2,500 per director
• Professional fees (CA/CS): INR 15,000-50,000
• Apostille charges in Greece: EUR 10-30 per document
• Certified translation (if needed): EUR 50-150 per document
• Total estimated cost: INR 30,000-80,000 plus apostille and translation costs

Post-Registration Compliance

Once incorporated, the Private Limited Company must maintain ongoing compliance with Indian laws:

• Annual return (Form MGT-7): Filed within 60 days of the Annual General Meeting with the RoC
• Financial statements (Form AOC-4): Filed within 30 days of the AGM
• Income tax return: Filed annually by 31 October (for companies requiring audit) at the domestic company tax rate of 22% (effective rate 25.17% including surcharge and cess)
• GST compliance: Monthly or quarterly GST returns if the company provides taxable goods or services
• FC-GPR and FLA returns: Annual Foreign Liabilities and Assets (FLA) return filed with RBI by 15 July each year
• Transfer pricing: Compliance with transfer pricing regulations for transactions between the Indian company and its Greek parent or affiliates
• Board meetings: At least 4 board meetings per year, with at least one meeting every quarter
• Statutory audit: Mandatory annual audit by a practising Chartered Accountant in India

Beacon Filing provides comprehensive annual compliance, corporate tax filing, and company registration services for Greek investors.

Common Challenges for Greek Companies

Greek-Language Document Translation

Greek corporate documents (Certificate of Incorporation, Articles of Association, Board Resolutions) are typically in the Greek language. These must be accompanied by certified English translations, which must also be apostilled. Greek investors should engage a certified translator in Greece who is familiar with corporate legal terminology to ensure accurate translations. Plan for an additional 3-5 days for translation before apostilling.

SEPA vs SWIFT Remittances

While SEPA transfers are the standard within the EU, capital remittances to India must be made through SWIFT-enabled banking channels in freely convertible foreign currency (EUR or USD). Greek investors should ensure their Greek bank has correspondent banking arrangements with Indian banks. SWIFT transfers from Greece to India typically take 2-4 business days. The purpose of remittance must clearly state "share subscription" or "equity investment" to avoid processing delays at the Indian bank.

Resident Director Requirement

At least one director must be a resident of India, having stayed in India for at least 182 days in the preceding financial year. If the Greek company does not have an existing Indian contact, options include appointing a professional nominee director, engaging a member of the Indian advisory team, or seconding a Greek employee to India on an employment visa.

Time Zone Difference

Greece is 3.5 hours behind India (IST) in winter and 2.5 hours behind during Greek summer time, since India does not observe daylight saving. Either way the overlap for business communications is manageable. Greek investors should plan interactions with Indian government portals, banks, and regulatory authorities during Indian business hours (9:30 AM to 5:30 PM IST, which is 6:00 AM to 2:00 PM Greek winter time and 7:00 AM to 3:00 PM Greek summer time).

EU Data Protection Compliance

Greek companies subject to GDPR must consider the data protection implications of transferring personal data to their Indian subsidiary. India's Digital Personal Data Protection Act 2023 provides a framework, but Standard Contractual Clauses (SCCs) or other GDPR-compliant transfer mechanisms should be implemented for transfers of EU personal data to India. This is particularly relevant for IT, BPO, and customer-facing businesses.

Frequently Asked Questions

Can a Greek citizen register a Private Limited Company in India without visiting India?

Yes. The entire SPICe+ incorporation process can be completed online through the MCA portal. DSC can be obtained remotely, and all documents can be submitted digitally after apostilling in Greece. A Power of Attorney in favour of an Indian representative enables the process to be handled entirely from Greece. Some banks may require a video KYC call for account opening.

What is the minimum capital required to register a company in India from Greece?

There is no statutory minimum paid-up capital requirement for a Private Limited Company in India. You need to specify an authorized capital in the Memorandum of Association — a typical starting authorized capital of INR 1 lakh (approximately EUR 900) is common. The share subscription amount from Greece must be remitted through SWIFT banking channels.

Does the India-Greece DTAA reduce withholding tax on royalties?

No. The India-Greece DTAA is one of India's oldest treaties and contains no article capping withholding tax on royalties, dividends, interest or fees for technical services. Royalties and technical service fees paid to a Greek recipient remain taxable in India at the domestic rate of 20% (plus surcharge and cess) under Section 115A. Relief from double taxation comes through the credit Greece grants for Indian tax paid, not through a reduced Indian withholding rate. A Tax Residency Certificate and Form 10F remain advisable for any treaty position taken in India.

How long does it take to incorporate a Private Limited Company in India from Greece?

The total timeline is approximately 3-5 weeks. Document apostilling in Greece takes 3-7 days (significantly faster than embassy attestation), followed by 7-10 working days for the SPICe+ incorporation process on the MCA portal. Bank account opening adds another 1-2 weeks.

Can a Greek company hold 100% shares in an Indian Private Limited Company?

Yes. Greek companies can hold up to 100% of the shares through the automatic FDI route in most sectors. Press Note 3 restrictions do not apply to Greek investors. At least 2 shareholders are required under the Companies Act, so the Greek parent company typically holds 99.99% through its authorized representative and 0.01% through a nominee.

What tax rate applies to a Private Limited Company with Greek shareholders?

A Private Limited Company incorporated in India is treated as a domestic company regardless of shareholder nationality. The corporate tax rate is 22% (effective 25.17% under Section 115BAA). The concessional 15% rate (effective 17.16%) under Section 115BAB was only available to new manufacturing companies that commenced manufacturing by 31 March 2024, and that window has since closed, so new entrants now default to the 22% rate. This is substantially lower than the 35% rate for foreign companies operating through Branch Offices.

Is Greece's membership in the EU relevant for registering a company in India?

While India's FDI policy does not distinguish between EU and non-EU investors, Greece's EU membership provides practical advantages: apostille-based document authentication (faster and cheaper than embassy attestation), SWIFT/SEPA banking infrastructure for reliable cross-border transfers, strong bilateral investment protections, and the strategic positioning of Greece as India's gateway to European markets through the IMEC corridor.