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How to Open an Offshore Banking Account in Greece?11 min read

How to Open an Offshore Banking Account in Greece?11 min read

Reading Time: 5 minutes

Offshore banking in Greece is a popular choice among individuals and companies looking to shield their assets from local taxes and regulations. 

While moving assets offshore is legal, you must be mindful of the rules and requirements in order to avoid penalties. If in doubt it would be wise to consult a specialist. 

Once you decide on an offshore jurisdiction like Greece ( with low taxes, friendly culture, excellent business reputation, robust banking sector services from local and international banks competing to offer superior services) your next step should be selecting an ideal jurisdiction that matches your requirements.

The Greek economy has suffered from the global financial crisis. However, its economy is now beginning to rebound and attracts both expats and investors from around the world. 

Although opening a banking account in Greece remains challenging and some restrictions still apply.

Nonetheless it’s important to do your research carefully in order to find the most suitable banking option.

The Guardian Bank provides numerous Greece offshore account options, both online and mobile.

By using this bank specialize in servicing international individual clients and foreign investors with money transfer, insurance and investment management services as well as money transfers between accounts. Most provide online banking Greece  in both English and Greek for your convenience.

What is Offshore Banking?

Offshore bank accounts in Greece typically have lower overhead costs than domestic banks and, as a result, are able to offer more competitive interest rates and greater investment flexibility. 

This banking type includes tax-free investments that offer greater returns than what could be found with domestic or international banks.

You can launch your Greece offshore bank account by using The Guardian Bank. We provide fast and secure services for all your offshore banking needs.

offshore banking

Can You Open an Offshore Bank Account Online in Greece?

As a non-resident of Greece, opening a bank account requires both an official tax number and ID documentation.

There are a few online banks offering such services The Guardian Bank offers multi-currency accounts that can be used fee-free for daily spending in Greece; another alternative is N26 which offers an EU current account with German bank details and a Visa debit card that supports 50+ currencies including Euros.

If you are thinking of opening an offshore bank account in Greece, take note of all interest rates and fees before making your decision.

Each bank charges an initial set-up fee as well as monthly maintenance charges that can quickly add up. Also take into account exchange rate fluctuations both inside and outside Greece as well as whether they provide weekend service.

Can I Open an Offshore Account in Greece as a Foreigner?

Opening a bank account in Greece for non-residents or foreigners can be relatively straightforward, though you must meet specific criteria, such as proof of identity and address. 

All foreigners can take advantage of offshore banking in Greece thanks to The Guardian Bank. We provide all guides for foreigners who desire to open bank accounts in Greece.

How to Open an Offshore Banking Account in Greece Online?

You can open an offshore account in Greece online and easily thanks to The Guardian Bank. However, some requirements should be considered.

Once you have all the documents needed for banking purposes in hand, the next step should be visiting a bank. It is recommended to bring along a translator if Greek is not your native tongue as you will need to show your passport and sign various documents before receiving a debit card from them. 

Keep in mind that not all tellers speak English fluently so be ready to spend up to an hour at their offices before your card arrives!

Note the fees associated with your Greece banking account, some can be quite steep, so do your research when choosing the bank. 

Set-up and monthly administrative fees as well as POS withdrawal fees, money transfers and minimum deposit requirements should all be factored in before choosing one. 

Apart from these considerations, it should be remembered that The Guardian Bank is the one of the most profitable platforms to Greece banking account transactions online.

offshore banking

How Do I Set Up a Greek Bank Account?

Setting up a bank account in Greece can be challenging for non-residents. The process often requires extensive paperwork and an in-person visit to a branch bank branch. You will also require an AFM (Arithmo Forologiko Mitro) tax number which can be obtained at your local tax office.

Notarization services and translation may also be needed depending on individual cases.

Recently, the government enacted capital controls in an attempt to stop money from leaving the country, and withdrawal limits on cash withdrawals. 

While these measures aim to slow the outflow of capital, they also impact residents who have accumulated savings with local banks; fortunately many major European banks offer assistance in such situations.

While some banks may have limited hours, most are open from 8 am to 2 pm weekdays and must be visited in person. Therefore, planning ahead is key if you need to visit in person, bring along a translator if needed or ensure your lawyer knows the local language well.

You can set up a banking account in Greece, by contacting The Guardian Bank now. You can reach all types of offshore banking services for your needs.

No matter if you are an expat or not, taking charge of your finances and taking measures against fraud should always be a top priority. 

Governments may try to limit your assets but you can protect yourself by taking steps that increase both security and privacy.

Offshore Banking Account in Greece

If you are moving to Greece for work or retirement, opening a Greece bank account can make the transition smoother. A Greek bank account allows employers to pay your salaries directly into it while paying taxes and showing your commitment when applying for residency permits. 

You also gain access to online banking Greece  facilities which saves time. Plus, it will help you locate one that fits your specific interests by researching interest rates, fees and opening requirements of various Greek banks.

Even as the economy has rebounded since the financial crisis, it still faces several key obstacles, high debt levels and nonperforming loan portfolios are two main hurdles. Credit growth may also be constrained due to limited capacity for fiscal expansion.

However, the Greek government has recently undertaken reforms to streamline its investment framework and stimulate economic growth. 

These reforms include eliminating redundancies, bureaucratic impediments and unnecessary regulations while also implementing a fast-track law to simplify licensing and approval procedures for strategic investments. 

Furthermore, foreign companies looking to establish subsidiaries should find it easier with Greece’s reforms in place. 

Thus, you can open an offshore bank account in Greece via The Guardian Bank to benefit from this atmosphere.