Relaxation of Capital Controls in Greece
Click here for the GR version – Πατήστε εδώ για το ελληνικό κείμενο
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.
