Financial statements from Greece

Schmidt & Schmidt offers financial statements from Greece in electronic form and their translations into English.

According to law, most Greek companies must submit annual financial statements. These data are reported in electronic form with the use of a special internet application. Depending on the company’s legal form and size, the law requires different amounts of data to be published.

Reporting of financial statements in Greece is subject to the Accounting Act.

In Greece, both national accounting standards and the IFRS are used. Companies participating in stock exchange are obliged to use the IFRS only. Other companies use national accounting standards which are similar to the IFRS to a considerable extent.

Mandatory financial statements are filed to the General electronic commercial register (Γενικό Εμπορικό Μητρώο, Γ.Ε.ΜΗ., GEMI) which is kept by the Ministry of Economy, Development and Tourism.

Sole proprietors compile simplified financial statements and file them to tax authorities.

Filing of financial statements is mandatory for:

• Joint-stock companies
• Limited liability companies
• Other enterprises founded as companies

Full annual financial statement includes:

• Balance sheet
• Profit and loss report
• Cash flow statement
• Equity statement
• Directors’ report
• Notes
• Auditor’s report

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

Financial statements are provided by the General electronic commercial register in electronic form or in paper.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific enterprise, its full name and registration number and registered office address are required.

Financial statements from the trade register are public, but are provided for a fee.

Financial statements are provided in accordance with the Greek legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.