You are viewing post New regulations from Finance Ministry regarding capital controls
According to the decision of the General Directorate of Economic Services No 0001695 ΕΞ 2017/Χ.Π. 1917, the Minister of Finance made the following changes:
1. it is allowed to individuals who have not yet had inter-bank accounts, demand deposits or deposit accounts, to open, and also to add co-beneficiaries to the accounts of the credit institution, by creating a new client code (customer ID). An essential prerequisite is the provision of a solemn declaration in which the interested person declares that he is not a co-owner in another credit institution;
2. cash withdrawals are increased by 100% compared to 50% applicable up to now for transfers from 01.12.2017 from abroad to existing accounts held by credit institutions in Greece on the basis of the procedure established by the Banking Transactions Approval Committee;
3. transactions with foreign legal entities or entrepreneurs are allowed for amounts not exceeding 20,000 euros, compared to 10,000 euros applied up to now, per customer per day. Completion of transactions is made upon presentation of invoices and other documents attached to the solemn declaration in which the interested persons declare his authenticity and exclusivity in a particular credit institution.
“Professional bank account”
In the Independent Authority for Public Revenue, there is an application “Professional Bank Account”, in which all professional bank accounts related to the commercial and professional activities are submitted and modified by their users.