Relaxation of Capital Controls in Greece

01.10.18 Mitglieder-News

By virtue of a Legislative Act dated 28.09.2018 (No. ΔΧΠ 002666 EΞ 2018/Χ.Π.1670), the Greek government proceeded to further relaxation of capital controls. According to the Act, the following apply as of October 1st:

  • cash withdrawals from ATMs, bank tills and payments of cheques, letters of guarantee, as well as credit and prepaid cards are free
  • the limit on cash withdrawals from foreign bank accounts is increased and is now set at maximum Euro 5,000 per month per customer ID per credit institution, regardless of currency
  • the amount of banknotes that individuals can carry outside the country is raised to Euro 10,000 per trip per person
  • the daily limit of money transfers abroad by businesses is increased to Euro 100,000 per legal entity, per day
  • profits and dividends on foreign capital invested in Greece can now be transferred abroad up to 100% of the yearly invested amount, provided that the funds have been transferred to Greece after 18 July 2015.  

 

To read the respective Government Gazette issue (in Greek) press here.

 

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Elisa Liouta

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