| Summary at a glance | | | | | |
| Total year 1 Europe company set up costs | €9,990 | €10,460 | €14,920 | €12,600 | €10,020 |
| Total year 2 Europe company set up costs (incl. audit and tax) | €3,420 | €4,730 | €6,949 | €5,500 | €5,890 |
| How long to set a Europe company? | 2 weeks | 2 weeks | 2 weeks | 3 weeks | 2 weeks |
| How long to open Europe company bank account? | 3 weeks | 4 weeks | 3 weeks | 4 weeks | 4 weeks |
| Issued share capital required | €9,600 | €2 | €10,000 | €1 | €1 |
| Corporate bank account location | Citibank | Raiffeisen Bank | Bank Austria | HSBC Greece | Atlas Bank |
| Tenancy agreement required before Europe company incorporation? | No | No | No | No | No |
| Annual tax return to be submitted | Yes | Yes | Yes | Yes | Yes |
| Do you need to travel for Europe company setup? | No | No | No | No | No |
Legal considerations
| | | | | |
| Resident director required? | No | No | No | No | No |
| Resident shareholder required? | No | No | No | No | No |
| Minimum number of directors for Europe company | 1 | 1 | 1 | 2 | 1 |
| Minimum number of shareholders for Europe company | 1 | 1 | 1 | 2 | 1 |
| Resident company secretary required? | No | No | No | No | No |
| Individual shareholders allowed | Yes | Yes | Yes | Yes | Yes |
| Corporate shareholders allowed | Yes | Yes | Yes | Yes | Yes |
| Corporate director(s) allowed | No | No | No | No | No |
| Public register of shareholders and directors | Yes | Yes | Yes | Yes | Yes |
| Tax and accounting considerations | | | | | |
| Corporate tax payable % | 9% | 10% | 24% | 22% | 9%-15% |
| Annual financial statements required | Yes | Yes | Yes | Yes | Yes |
| Statutory audit required | Yes | Yes | No | Yes | Yes |
| Access to how many double tax treaties | 70 | 68 | 50 | 50 | 36 |
| Europe tax exempt free zones available | Yes | Yes | Yes | Yes | Yes |
| VAT rates | 27% | 20% | 20% | 24% | 21% |
| Withholding tax payable on international dividends | 0% | 5% | 25% | 10% | 9% |
| How long to get Europe work permit approved | 5 weeks | 4 weeks | 5 weeks | 6 weeks | 5 weeks |
| Can the entity hire expatriate staff? | Yes | Yes | Yes | Yes | Yes |
| Logistics considerations | | | | | |
| Allowed to sign sales contracts with local clients | Yes | Yes | Yes | Yes | Yes |
| Allowed to invoice local clients | Yes | Yes | Yes | Yes | Yes |
| Average monthly salary of skilled labour | US$6,300 | US$4,100 | US$9,100 | US$8,100 | US$5,100 |
| Average monthly salary of unskilled labour | US$,4,000 | US$3,600 | US$ 4,600 | US$4,400 | US$3,600 |
| English spoken by what % of the population | 20% | 25% | 73% | 51% | 40% |
| Literacy rate % | 98% | 98.4% | 98% | 96% | 98% |
| Computer literacy rate % | 56% | 42% | 60% | 50% | 48% |
| Office rental per square meter per month | US$10 | US$8 | US$18 | US$10 | US$10 |
| Warehouse rental per square meter per month | US$8 | US$7 | US$14 | US$10 | US$7 |
| Country rating (out of 100) | 46 | 52 | 96 | 9 | 38 |
| Internet connectivity rating | Excellent | Good | Excellent | Excellent | Good |
| GDP per capita (US$) | US$13,481 | US$7,499 | US$50,547 | US$21,956 | US$7,107 |
| Government liberal or controlling of daily business | Moderately controlling | Liberal | Liberal | Liberal | Liberal |
| Population % tertiary enrollment | 60 | 57 | 70 | 56 | 48 |
| Global business efficiency index score (out of 100) | 60 | 67 | 74 | 50 | N/A |
| Ease of doing business global ranking (lower the better) | 42 | 38 | 21 | 60 | 46 |
| Europe population | 9.9 million | 7.3 million | 8.5 million | 11 million | 0.6 million |
| Europe unemployment rate | 10.2% | 12.9% | 4.9% | 27.3% | 19.8% |
| Inflation rate (2015) | -0.4% | -0.6% | 0.7% | -0.9% | 1.7% |
| GDP 2013 US$ billion | $133.4 billion | $54.5 billion | $428.3 billion | $242.2 billion | $4.42 billion |
| Average annual growth (2012) | 3.6% | 1.7% | 0.3% | 0.8% | 1.5% |
| Estimate of Europe business engagement costs | € | € | € | € | £ |
| Healy Consultants engagement fees | 3,630 | 3,400 | 7,400 | 5,400 | 3,050 |
| Company secretary and legal registered office fees | 1,100 | 1,200 | 1,100 | 1,100 | 3,100 |
| Government fees | 560 | 60 | 520 | 200 | 170 |
| Corporate bank account opening | 3,950 | 4,950 | 4,950 | 4,950 | 2,950 |
| VAT registration | 750 | 850 | 950 | 950 | 750 |
| Estimate of total outgoings in Year 1 | 9,990 | 10,460 | 14,920 | 12,600 | 10,020 |
| Draft sales invoice attached | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF | View invoice PDF |
