Bank account

How to open a bank account in a Greek bank


Opening a bank account is strongly suggested in case you wish to proceed to the purchase of a property in Greece. It reassures the transparency of all transactions related to the purchase and provides all necessary tax proof to be provided annually to the Greek tax authorities for the needs of your annually declared income, property, expenses etc.

With reference to the issue of opening a bank account for you in a Greek bank, following the imposition of the capital controls, the procedure of opening a bank account has become slightly stricter, however, in the case of natural persons or legal entities who wish to buy property in Greece, therefore necessarily transfer significant amounts for covering either the purchase price or the relevant expenses, a special provision has been predicted and included in the legislative act of the 20th of July 2015 as amended (last amendment on the 02/10/2015) providing the right to open a bank account in a Greek bank as long as a credit transfer of at least 10.000,00 Euros (in Euros or foreign currency) is made to this account.

Consequently, to summarize, in order to open a bank account in a Greek bank you will need:

1. Proof of your home address. A recent utility bill is the most common and easy document to provide.

2. Proof of professional address.  Any recent document where your professional address   appears,  e.g. pay slip.

3. Proof of your recent annual and monthly income (salaries, pensions, rents). Your annual tax return submitted to the local authorities of your country should be the most suitable one or your P60 (end of year certificate for the UK, Avis d'impôt for France) or any other document presenting your declared revenue.

4. Certificate of tax residence. It is issued by the tax authority of your country (e.g. H&M Revenue and Customs for the UK, Direction Generale des Finances Publiques for France) and proves that your country’s tax authorities certify that, to the best of their knowledge, you are a resident of this country within the meaning of the tax convention signed between this latter and Greece.

5. A solemn declaration that you intend to transfer at least 10.000,00 Euros to the account you wish to open for the needs of the property purchase.

6. Your home and professional phone numbers as they appear on some kind of official document (e.g. telephone utility bill)

7. If you are not present, you should appoint a proxy to open the bank account for you, authorizing him/her to do so through a power of attorney containing this specific order, which you could sign and have your signature certified either by an  English or a Greek notary.

Evidently, if you wish the account to be a joint one, all beneficiaries should provide the necessary documents. All the documents above should be officially translated in Greek, either by a translator in your country, either a translator/lawyer in Greece.

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