February 2024 – M.D. 5186/2024 – New standard Articles of Association for the establishment of companies

Stavros Theodoropoulos, Partner

The Minister of Development, through decision no. 5186/2024, has introduced new standard articles of association for all types of companies and associations with business activity. The goal is to simplify the incorporation process and standardize articles of association across different business entities. The decision affects a total of seventeen (17) types of companies and associations, including partnerships and capital companies (AE, EPE, IKE).

It is necessary to modernize the corporate documents of Greek enterprises, which in many cases refer to the laws in force at the time of their establishment, which are not valid today, thus creating dangerous ambiguities. The issuance of the M.D. also serves as reminder to the business world.