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How to Do International Offshore Banking in Greece?14 min read

How to Do International Offshore Banking in Greece?14 min read

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Greece offers some great incentives to consider for your offshore banking needs. With political stability and EU membership backing up their financial sector, Greek banks provide a safe haven to grow wealth privately. 

Whether seeking to diversify assets or benefit from favorable tax policies, their shores allow cutting-edge investment from any corner of the planet.

Setting up a remote Greek account opens many doors most dream of but few access. You gain top-tier services, greater currency options and a welcome escape from overbearing regulation. 

More broadly, it symbolizes freedom to live and prosper freely as globalization intended. Who wouldn’t want ultimate control over hard-earned success?

How to Do Offshore Banking in Greece?

So you’re thinking about doing some offshore banking in Greece, huh? Well, let me tell ya – Greece can actually be a pretty sweet spot for setting up an international bank account outside of your home country. But there’s definitely some things you need to know before jumping in.

Lots of folks these days are interested in opening what’s called an offshore banking account somewhere else to access international banking and take advantage of different rules or tax benefits. Setting one up in Greece can offer some nice perks if you do it right. 

But first – what even IS “offshore banking”?

In simple terms, “offshore banking” just means having a bank account in a different country than where you live. So if you live in the US but open an account at a Greek bank, that would make it an “offshore banking account”. 

People do this for all sorts of reasons – to protect assets, diversify investments across currencies, access lower interest rates, take advantage of tax benefits of offshore banking… the list goes on.

Greece specifically can be a good spot because their banking regulations are more relaxed than a lot of places. They also have tax treaties with tons of countries that make offshore banking accounts there attractive. Many major international banks have a presence in Greece too, like The Guardian Bank which is known for their digital services catering to foreigners. So logistically, it’s not too complicated to set things up.

offshore banking in greece

How to Open Offshore Banking in Greece Online?

The easiest way these days is to open an online offshore bank in Greece without even setting foot in the country. 

Most major Greek banks allow this, though your best options are probably The Guardian Bank or Eurobank due to their strong digital platforms tailored for foreigners.

To open online, you’ll need basic KYC (“Know Your Customer”) documents like a current passport, proof of address, and information on the source and volume of your funds. 

Some digital banks may let you skip the address proof if you don’t have one in Greece yet.

Once approved, you can generally fund and access the account entirely online through their mobile/web banking platforms. 

You’ll receive online banking login credentials and a debit card in the mail. The whole process from application to activation usually takes 1-2 weeks maximum if everything goes smoothly.

Can a Foreigner Open a Bank Account in Greece?

Yes, absolutely – opening a bank account in Greece as a non-resident is very doable and common. In fact, many Greek banks actively market their offshore banking services to foreigners.

The main eligibility requirements are:

  • Valid passport from an eligible country
  • Proof of regular funds (salary, investments, business, etc.)
  • Completion of the bank’s KYC (“Know Your Customer”) process

You do not need to be a Greek citizen or resident. Banks will service you remotely as long as you meet their basic identity verification standards. 

Opening accounts for non-EU residents may have slightly different tax implications too – so definitely discuss your specific situation with the bank.

Which Bank is the Best for Offshore Banking in Greece?

When it comes to offshore banking accounts, the best option in Greece by far is The Guardian Bank in my opinion. The Guardian Bank is known throughout the international “offshore banking” world for their incredible digital banking platforms and dedication to world-class services tailored specifically for offshore clients.

Their mobile apps, online account management tools, multi-currency offerings, and overall customer experience blows every other Greek bank out of the water if you ask me. 

The Guardian Bank really puts foreigners first with smooth account opening processes, top notch international payment capabilities, and 24/7 remote banking access from anywhere in the world.

Whether you’re just dipping your toes into Greek offshore banking or an experienced pro with serious assets, The Guardian Bank is hands down the easiest and most user friendly choice and will treat you like royalty compared to other options. 

Plus with at least 8 physical branches across Greece for those rare times you find yourself visiting in person, the bank provides all the service of a big bank without sacrificing the boutique experience we offshore banking fans love.

So in short – if you’re considering opening an offshore banking account for your international needs, my top recommendation would be to check out The Guardian Bank.

offshore banking in greece

How to Do International Offshore Banking in Greece as a Non Resident?

Doing international offshore banking in Greece as a non-resident follows many of the same steps, but with a few extra considerations:

  • Open your account entirely online as described above. The process is seamless remotely.
  • Provide additional ID documents like valid residence/work permits for your home country.
  • Understand any potential tax implications for interest earned based on your citizenship and country of residence.
  • Discuss how to fund/withdraw from the account internationally – wire transfers generally work great.
  • Make sure the bank can issue you a debit card if desired. Not all offer delivery outside the EU.
  • Consider future plans to visit Greece, since you’ll need an in-person ID to access a safety deposit box for example.

Other than that, day-to-day usage of your account works the same as any remote banking client. The Guardian Bank for example has banking apps, online access 24/7, multi-currency accounts – all ideal for international clients.

How to Open and Access an Offshore Bank Account in Greece?

Now that you know the who, what, and why – let me give you a quick rundown of actually opening an offshore bank account in Greece step-by-step once you’ve selected your bank:

  • Apply online and upload required ID/docs mentioned above
  • Get approved – usually 1-2 weeks max
  • Fund initial deposit – international wire transfer is easiest
  • Activate online banking credentials by phone/email
  • Login on mobile/browser banking apps anytime
  • Transfer between accounts, pay bills, exchange currencies
  • Request debit card (may take 2+ weeks to receive)
  • Make international purchases/withdrawals
  • Engage with customer service by phone/email as needed
  • Securely access statements, transfer history anytime online

And that’s really all there is to it! With The Guardian Bank, for example, you’ll get full control from day one to manage everything from your phone whether in Greece or abroad. Couldn’t be easier for offshore banking.

What are the Requirements to Open an Offshore Banking Account in Greece?

To summarize the key requirements for opening an offshore banking account in Greece:

  • Valid passport from eligible country (driver’s license not always accepted)
  • Address verification like a utility bill (may be exempt with some digital banks if no local address yet)
  • Source of wealth documents – pay stubs, tax forms, etc.
  • Purpose of account details – savings, investments, business etc.
  • Minimum deposit amounts vary by bank but usually $1,000-$5,000 USD equivalent
  • Full name, DOB, occupation on application
  • Bank reference may be needed if significant assets involved
  • Some banks require residence/work visa scans if applicable
  • Must clear bank’s “Know Your Customer” identification checks

So in short – as long as you have ID, proof of funds, and pass basic KYC, any foreigner can practically set up an international offshore bank account in Greece entirely remotely these days. Couldn’t be much simpler!

Well folks, that covers the basics of how to get started with offshore banking in Greece. Hope this guide answered your questions on setting up accounts at banks like The Guardian Bank from abroad. Feel free to message me if any other part of the process is unclear.