According to Government Gazette No. 684, Issue B, published on 15.03.16, the execution of money transfer orders from Greek bank accounts to foreign bank accounts is allowed up to the amount of Euro 1.000 per Customer ID, per calendar month.
We are informing you about this since many of our assignees and client companies are not aware of and they face surprises when dealing in Greece. More specifically and to share our experience, this may have implications on the following:
  • Return of guarantee
When finding a suitable property to move-in, the home lease agreement needs to be fully signed and the guarantee (usually equivalent to 2 monthly rents) is paid.
This amount is returnable upon departure and settlement of relevant accounts.
In case the return of this amount needs to be done directly to your home bank account (foreign) and not to your company’s Greek bank account, challenges as per above may occur.
  • Salary transfer to a foreign bank account
As your relocation to Athens is temporary, you might wish to transfer your salary to your home bank account.
In case you wish to transfer your salary or any other amount from your Greek bank account to your home bank account, please have in mind the above and contact your bank representative for further information.
The good news is that experience has shown that strict measures concerning capital controls and banking are sometimes surpassed and eliminated gradually. In addition, there are many articles in the press stating that this measure will cease in the near future.



Leave a Reply

Your email address will not be published. Required fields are marked *