Freelancer Greece: All Your Company Options and Real Costs

Freelancing in Greece is growing year by year. Developers, designers, copywriters, marketers, translators, and consultants now work for clients in Greece and abroad, often from their homes. However, the first question one encounters when starting out is always the same: what legal structure should I use, and how much will it cost me?

In this guide, you will find a detailed overview of the options available to a freelancer in Greece for business formation, what each structure can offer, the actual costs of setup and maintenance, and why those who offer online remote services have an additional option they often overlook: a US LLC.

In addition to a sole proprietorship, IKE, and LLC, a freelancer with a genuine European presence can also consider forming a company in Romania, based on the total cost and not just the nominal tax rate.

What a Freelancer in Greece Can Offer

Greek law essentially allows a self-employed professional to offer any service, provided they register with the correct KAD (activity code). The most common categories include:

• Technology: website and application development, IT services, sysadmin, data analysis.
• Design and Creative: graphic design, video editing, photography, UX/UI.
• Marketing: social media management, Google Ads, SEO, copywriting, email marketing.
• Consulting Services: business consulting, training, coaching, accounting advice.
• Language Services: translation, interpreting, text editing.

Some professions have special requirements (e.g., doctors, lawyers, licensed engineers), but for the vast majority of digital services, the only prerequisite is to register as a professional with the tax authorities.

Option 1: Sole Proprietorship (the "blokaki")

The simplest and most common structure. With an online application to myAADE, you obtain a professional tax ID (AFM) and can start invoicing immediately.

• Startup Cost: zero (or 50 to 150 euros if done by an accountant).
• Accountant: 40 to 100 euros per month, single-entry bookkeeping.
• EFKA (Social Security): from approximately 140 euros per month for the first five years, then from approximately 240 euros and up.
• Taxation: scale of 9% to 44% on net profits, plus tax prepayment.
• Liability: unlimited, with all your personal assets.

We analyze this in detail in the article sole proprietorship taxation. In short: ideal for starting out and low incomes, expensive and risky when profits grow.

Option 2: IKE

The Private Capital Company (IKE) is the next step when a sole proprietorship is no longer sufficient:

• Formation Cost: 300 to 800 euros through a One-Stop Shop service.
• Accountant: 70 to 200 euros per month, mandatory double-entry bookkeeping (category three).
• EFKA (Social Security): only for the administrator, approximately 240 euros per month at the minimum category.
• Taxation: 22% on profits plus 5% on dividends, effective rate close to 26%.
• Liability: limited to company assets (with the exception of debts to the State for the administrator).

Overall, an IKE costs 4,000 to 5,000 euros per year in fixed expenses before taxes. See the complete guide in the article IKE formation. You choose it when you need a Greek corporate entity, staff in Greece, or contracts that require a domestic company.

Option 3: Company Abroad

Here begins the discussion for those who work online. If your work is done from a laptop and your clients are outside Greece (or even within, but without requiring a Greek invoice), you are not obligated to operate within the Greek system. You can form a company in a jurisdiction with better terms.

The two popular directions:

• Bulgaria (EOOD): 10% tax plus 5% on dividends, but with mandatory social security contributions, increased accounting and annual costs that easily exceed 3,000 euros. See our guide to company formation in Bulgaria.
• USA - Wyoming LLC: the option that is rapidly gaining ground, and for the best reason.

Why a Wyoming LLC Suits the Online Freelancer

The LLC combines what neither a sole proprietorship nor an IKE offers simultaneously:

• Full legal protection: The company is a separate legal entity. Your personal assets remain safe, unlike with a sole proprietorship.
• Zero US corporate tax for non-residents without US activity. Wyoming doesn't even have a state income tax.
• No social security contributions like EFKA. The 2,900 euros per year you pay in Greece simply don't exist.
• Predictable cost: approximately 1,200 euros per year, all-inclusive - accounting, taxes, license, annual report.
• Global credibility: a US company with an EIN, bank account (Mercury, Relay), and access to Stripe and PayPal business without restrictions.
• Formation in 24 to 72 hours, entirely remotely, no travel required.

We made a full comparison of the US model with European alternatives in the article Bulgaria vs Wyoming LLC.

Cost Comparison: The Three Options Side-by-Side

• Sole Proprietorship: 3,500 to 5,000 euros annual fixed costs (EFKA plus accountant) plus a tax bracket up to 44% on profits. No legal protection.
• IKE (Private Company): 4,000 to 5,000 euros annual fixed costs plus 26% effective tax. Legal protection, but heavy accounting.
• Wyoming LLC: approximately 1,200 euros per year all-inclusive, zero US corporate tax. Full legal protection.

For a freelancer with 40,000 euros in annual revenue from international clients, the difference between a sole proprietorship and an LLC can exceed 10,000 euros per year. This is not a minor detail; it's the difference between working for the tax office and working for yourself.

What to Consider Before Deciding

The choice isn't just about taxes:

• Where are your clients? If you primarily invoice Greek businesses that require a Greek invoice, the Greek entity is more practical.
• Where is your tax residency? If you live permanently in Greece, foreign companies require proper planning (CFC rules, presumptions). It's doable, but requires specialized guidance.
• Do you need Greek insurance? EFKA provides pension and health coverage. With an LLC abroad, you arrange your insurance separately.
• Growth plan: If you aim for 60,000 euros and above annually, the right structure from the start saves you money and later transitions.

If you want to see which structure suits your specific situation, book a free specialization call and we'll compare the numbers together.

Frequently Asked Questions

Do I need to open a sole proprietorship to work as a freelancer? To legally invoice in Greece, yes, you need to register a business. The process is free via myAADE and usually completed the same day. Alternatively, if you work exclusively with international clients, you can invoice through a foreign company.

How much does a freelancer in Greece cost in total? With a sole proprietorship, estimate 40 to 100 euros per month for an accountant, approximately 140 to 240 euros per month for EFKA, and a tax of 9% to 44% on net profits plus advance payment. Annually, fixed costs start from approximately 2,500 euros in the first few years.

Is an IKE (Private Company) beneficial for a solo freelancer? Rarely. Its fixed costs (double-entry bookkeeping, EFKA for the manager, 22% plus 5% taxation) make it more expensive than a sole proprietorship for low and medium incomes. An IKE makes sense when you hire staff in Greece or need a corporate signature for large contracts.

Can I be a freelancer with a US LLC? Yes. The LLC invoices your clients worldwide, you manage it from wherever you live, and the profits are corporate income with zero US corporate tax for non-residents. Your tax residency is managed with proper planning.

What about Stripe and PayPal? With a Greek sole proprietorship or IKE, you have access, but with a US LLC, you get a full US Stripe account, with lower dollar fees, better support, and without the usual obstacles faced by Greek businesses.

How quickly can I start with an LLC? Formation is completed in 24 to 72 hours with an EIN and bank account, entirely remotely. Fill out the formation form and we'll start immediately.

The Conclusion

Freelancers in Greece have three realistic options. A sole proprietorship is the right first step: zero cost, simple accounting, ideal for low incomes and market testing. An IKE only makes sense for specific scenarios with a Greek base and staff.

However, if you offer online remote services, especially to international clients, a Wyoming LLC changes the equation: full legal protection, zero corporate tax, no EFKA, and 1,200 euros per year all-inclusive. Compare the numbers in the formation form or book a free call before deciding.

If you're considering options outside of Greece, check out our guide on company formation abroad and our page on company formation in Dubai.