There are several advantages that the Private Companies (PC – IKE) represents in comparison with other types of greek companies (in terms of legal entities). Some of them are listed below:
- Zero capital requirements (it is not compulsory to have a certain amount of capital like EPE or AE).
- Quick establishment with minimum expenses and simplified procedure.
- Provided the Articles comply with the requirements of the Law, they may be drafted accordingly to suit the particular needs of a type of business as well as of its members, enabling the company to be shaped either closer to a partnership or closer to a Societe Anonyme.
- Very flexible corporate form (meetings can be held through teleconference and abroad, any amendments and changes are made by a private agreement).
- Corporate documentation may be drafted also in any official EU language.
- Only the manager and the sole member (in case of a single- membered PC) are subject to compulsory registration at the local insurance organisation (as opposed to all members/partners in other types of companies).