Key Facts You Should Understand About Bank Account Opening Services Within Greece

offshore company

Why you need to open a bank account in Greece

There are many benefits that are associated with opening your offshore account in Greece. The country is renowned for its storied history, pleasant climate, world-class cuisine and stunning scenery. Greece also enjoys the benefits associated with membership in the European Union. It is a highly desirable jurisdiction for investors and entrepreneurs who want to open a company within its borders.

The process

Bank account opening in Greece is one of the most important processes that you must complete if you want to form an offshore company in the jurisdiction. The good news is the fact that the Greek banking system is available to both residents and non-residents. This makes it easy to open an account with a Greek bank without any requirement to reside in the country.

What we do

Though the process of setting up bank accounts in a foreign jurisdiction can be intimidating, there is good news. Our team at FormationWise offers a range of professional services that facilitate bank account opening in Greece. Our global network of partners has years of experience working within this exciting market. We can provide you with the important assistance you need to set up an account in a Greek bank so you can start enjoying its many benefits. The benefits associated with bank account opening in Greece include:

The benefits

These benefits help to demonstrate why it might be a good move for you to open your new bank account in Greece. Beyond this, it is necessary to have an account with a Greek bank if you have a goal of company formation within the jurisdiction. Continue reading on to learn more about how our team at FormationWise can help you out with everything regarding the process you must go through when it comes to bank account opening in Greece. We would now like to let you know more about our professional services.

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  • 1

    Select the offshore accounting package for your desired jurisdiction

    Simply choose the offshore accounting and auditing package for your desired jurisdiction by filling out our form, by call or by placing an order on our website

  • 2

    Make payment

    After finalizing the right package, make the payment for your chosen services and send us your financial details

  • 3

    Send your documents

    Forward us all the necessary financial documents through an email with the documents attached or by phone

  • 4

    Start the process

    Once we receive the payment and the required documents, our team will start working on the accounting or auditing service that you have ordered in your chosen jurisdiction

  • 5

    Get it done

    Depending on whether it’s a one-time task or an ongoing financial project, our offshore accounting partners will get the job done in your new jurisdiction

Our services include:

The services that FormationWise provides to facilitate bank account opening in Greece include:

Careful Monitoring of the account opening process

Our financial professionals at FormationWise will carefully monitor the process involved with setting up a bank account in the Greek jurisdiction. We know that opening an offshore account in Greece is an important part of your company formation plans. Our experts work tirelessly to make sure that the process is carried out efficiently and successfully. Working with our team is the straightforward and easy way to set up a Greek bank account so you can start to enjoy the associated benefits. Effective monitoring throughout the process is key to achieving success.

Assistance and consultation services provided for high-risk business accounts

Our professional services at FormationWise also include assistance and consultation for high-risk business accounts that are opened in Greece. These account types make it possible for you to effectively conduct business by allowing the processing and receipt of payments through the world’s top credit card networks. There is a list of requirements that high-risk business accounts have to go through before an offshore account can be established. Given this fact, working with our team is an efficient way to ensure that you can quickly achieve your banking goals.

Assistance in selecting the most suitable Greek bank

Finding the right bank in Greece is one of the most important steps involved with setting up an account so you can start to enjoy its benefits. There is a long list of key factors that go into making a final decision. Things to consider include whether or not you can open an account remotely as opposed to having to visit the bank in person. You also need to know information such as the minimum required deposit amount, whether or not you need online banking and whether or not you need a multi-currency account. The good news is the fact that our experts at FormationWise are well-versed in the process required to set up bank accounts in Greece. We have all the experience and expertise required to assist you in selecting the right Greek bank for your specific needs.

Assistance in the opening of multi-currency accounts

Holding a multi-currency bank account in Greece allows you to deal with multiple currencies. This is of vital importance for businesses that operate internationally. The benefits of multi-currency accounts include quick, secure money conversions and transactions. They also include the ability for you to manage your money easily while abroad in the world. Assisting you with setting up multi-currency accounts in Greece is another service offered by FormationWise. Our goal is to help you to open multi-currency accounts that are ideal for the specific requirements that you have.

Banking introductions with reputable Greek banks

Another key factor behind why so many investors and entrepreneurs rely on FormationWise is the fact that we handle introductions to the most reputable banks in Greece for offshore purposes. It is a service that is tailored to help you arrange all of the formalities that go along with setting up a bank account in a foreign jurisdiction. You can rely on our professional expertise when it comes to approaching the bank you want to open an account with. Our services can help you to speed up the process so you can get up and running with a bank account in this highly sought-after jurisdiction.

Opening of corporate accounts, trust accounts and personal accounts

At FormationWise, we are your trusted firm for the opening of corporate/trust bank accounts as well as personal bank accounts in Greece. This key offshore service is designed to help you find the safest available Greek bank whether you want to open a personal account or you need an account for trust or corporate needs. This option is another example of our dedication to providing you with the types of professional services required to meet your needs in the area of bank account opening in Greece.

Operation/maintenance of bank accounts

If you require assistance with the operation/maintenance of your Greek bank accounts, our team at FormationWise can help. You can trust in our financial professionals to assist you in maintaining stringent standards that ensure you enjoy the risk diversification benefits as well as the key asset protection benefits that go along with setting up an offshore Greek bank account online. Our professionals would love to provide you with an informational consultation today about our services for operating/maintaining your vital bank accounts in Greece. We always aim to make a big difference for you and your company.

The Arrangement of Letters of Credit

Sellers of services/goods who operate offshore bank accounts often require letters of credit. These letters are issued by Greek offshore banks as an assurance of payment. There is a list of documentation that you have to provide to receive letters of credit. This documentation includes proof of the involved goods. Our FormationWise experts have spent years working in the Greek jurisdiction and can help you to arrange the credit letters that you require for your company.

The Arrangement of credit/debit cards

One of the most important and useful options associated with offshore bank accounts are credit/debit cards. These cards allow you to access your funds regardless of where you are currently located in the world. Our FormationWise experts can assist you in arranging the credit and debit cards that you require after your account is opened in Greece. We ensure that you are aware of any associated fees that are in effect when you use your credit or debit card.

The verification of both your corporate and personal documentation

One of the most important factors involved with a successful bank account opening in Greece is the submission of a list of required corporate documentation and personal information. Our professionals can assist you with the verification of all of your necessary documentation. Our goal is to ensure that every single detail is in order before you actually submit your application to a bank in Greece to open an account. Working with us is a proven way to ensure that your documents get verified/accepted by your chosen bank.

Completion of required forms that we will then forward to you for signing along with applicable instructions

When setting up a bank account in Greece, you will be required to complete a list of specific forms. Our team offers professional services for the completion of bank forms which will then be forwarded to you to sign with relevant instructions included. Completing all forms correctly is key to successful bank account opening in Greece which is concluded in a quick and efficient manner. Working with our team is a proven way to make sure that all of your forms are filled out correctly. It can make a big difference in ensuring that the overall bank account opening process is a smooth one.

Sending off your full package to the Greek bank for approval

Once your entire bank account opening package has been put together with all required forms filled out and all necessary documentation compiled, we will send it off to your chosen bank so it can receive final approval. You can always rely on our dedicated professionals to ensure that all details are in order before your application package is sent to Greece for approval by your bank. This makes a huge difference when it comes to a fast and efficient process. It is also vital to achieving success in your application for a Greek bank account. Our team at FormationWise takes a great deal of pride in simplifying the process for Greek bank account opening so you can quickly start to enjoy its advantages.

Why choose FormationWise?

Choosing FormationWise to help you with bank account opening in Greece is a great choice for many reasons. Our team offers an extensive range of taxation, auditing and accounting services for offshore bank accounts. These services are delivered through our global network of qualified partners. Our listing of services includes help with the opening of offshore bank accounts in Greece. A couple of key reasons to choose our team for your bank account opening needs in Greece include:

We provide a comprehensive range of bank account opening services

Our professional services range from financial reports and tax planning to payroll services and bookkeeping for offshore accounts, among others. You can be sure that our team will provide you with a service offering that is designed to help you effectively run your financial operations in Greece.

Our team is made up of qualified partners with many years of experience

Our financial experts have been working in jurisdictions like Greece for many years and know the ins and outs of providing assistance for offshore bank account opening to new companies and established ones of all sizes. This is accomplished through services like compliance, accounting, audits and bookkeeping, among others.

Our services include a free informational consultation

One of the key benefits of choosing FormationWise is the fact that we offer a free informational consultation at the beginning of the process. During this consultation, we will analyze and evaluate the best services for your individual circumstances.

Full confidentiality is a top priority of ours

We understand how important confidentiality is to you and your business endeavours. With this in mind, you can rely on our dedicated team of experts at FormationWise to assist you with your bank account opening needs while enjoying full confidentiality. You can enjoy peace of mind knowing that all of your vital records, data and personal information is fully secure when you choose our services.

Our services are cost-effective and we offer transparent pricing

Yet another reason to choose FormationWise for all your needs when it comes to arranging a Greek bank account is the fact that we provide our services at a cost-effective price point that is fully transparent. Our team works tirelessly to offer the best in offshore banking services and we deliver them with a pricing structure that is competitive within this vital market. You can also rest easy knowing that pricing transparency is important to us. You never have to worry about incurring hidden fees and costs when you choose FormationWise for offshore banking, accounting and auditing.

Greek banking system

Greece has a fully modern and comprehensive banking system that is designed to meet the needs of citizens, residents, non-residents, investors and entrepreneurs. The Greek banking system is administered and regulated by the National Bank of Greece. The largest banks in the country other than the National Bank of Greece include Eurobank, Piraeus Bank and Alpha Bank. International banks like Citibank and HSBC also operate within the jurisdiction.

Key documents required

The list of required documents that you must provide as a non-resident if you wish to open up an account in the Greek jurisdiction includes:

You can rely on the FormationWise team’s experienced experts to ensure your documents are completely in order prior to the submission of your application for a Greek bank account. This is among the most important factors when it comes to receiving approval as quickly as possible.

Greek banks suitable for foreigners

The four major Greek banks are the National Bank of Greece, Alpha Bank, Piraeus Bank and Eurobank. These banks offer services that are a great fit for non-resident and foreign account holders. When you select FormationWise to facilitate the offshore bank account needs that you have, you can trust that we will provide you with key recommendations on which banks will best fit your personal and professional requirements. Our goal is to help you select a Greek bank that will offer you all of the services that you need so you can grow your company and achieve the success you are working toward.

Banking fees and charges

Banking fees and charges in Greece are generally related to categories that include deposits, loans and cards. They also include fees and charges that are associated with other banking transactions. These charges are further dictated by the type of accounts that you have in Greece. When it comes to specifics on fees and charges related to Greek banking, it is important to check with the specific banks that you are considering.

This is another area where our FormationWise team comes in to assist you. We will make sure that you are aware of all charges and fees that will be associated with doing business at a specific Greek bank. This makes it much easier for you to select a Greek bank that will work best for you specific requirements that you have. You can always count on FormationWise to look out for your best interest when we assist you in setting up your Greek bank account.

Timeframe of the process

The process for opening an offshore account in the Greek jurisdiction with assistance from FormationWise is one that can be completed in a relatively short amount of time. You can expect to get approval within one to two weeks. Our team ensure that all of your paperwork and documentation is in order before it is submitted so you can receive your approval as quickly as possible.

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Though visiting the bank in person is usually required for opening an account in Greece, there are several options that you can avail of for conducting the process online. If you want to get a Greek bank account as a non-resident, you must obtain an Arithmo Forologiko Mitro (AFM). This functions as a tax ID number. You must have an AFM if you want to open an account in Greece whether you are doing so in person or remotely.

You do not have to have a Greek residence to open up an account for banking in Greece. There are no legal restrictions preventing non-residents from accessing financial institutions in the country. You must have a valid AFM which can be obtained through a Greek tax office. It can also be possible to start the process at an overseas branch of the Greek bank that you want to open an account with. You have the option of opening an account at either a national bank or an international one. Beyond this, non-residents must provide all of the required documentation to set up an account in the Greek jurisdiction.

Several types of bank accounts are available in Greece to non-residents. These include personal and business/corporate accounts. Beyond this, there are current, foreign currency, savings, investment and external account options that are available to those wishing to avail of the banking system in Greece. It is important to discuss your options with the bank you are considering for an account. With each of these account options, it is necessary to have your Arithmo Forologiko Mitro number readily available.

There are no restrictions that prevent foreigners from bank account opening in Greece. Foreigners and non-residents can avail of the advantages associated with opening a Greek bank account by submitting all required documentation and providing their Arithmo Forologiko Mitro number. Working with our specialists at FormationWise is the proven option for ensuring that you have everything in order before you submit your application to open your Greek bank account. Our global team of partners would be happy to provide you with an informational consultation where we talk in more detail about the process.

The Arithmo Forologiko Mitro or AFM is the name used for Greece’s tax identification number. All residents, foreigners and non-residents who wish to start an account in Greece must have a valid Arithmo Forologiko Mitro number regardless of the type of account that they wish to open. Contact our international financial professionals at FormationWise today to discover more information related to how you can obtain your Arithmo Forologiko Mitro number.

You may be required to show proof of income when you start up a bank account within the Greek jurisdiction. This is a commonly required piece of documentation needed to facilitate bank account opening in Greece. If you want to file a credit card application with a Greek bank, you may have to provide proof of income from an employer or a recent tax return.

Headquartered in the Greek capital of Athens, the National Bank of Greece was founded in 1841 and operates as a financial services and global banking company. It is the country’s first modern bank that was opened within its borders. The central bank is one of the most important contributors to the economic activities that are conducted within Greece each year. The National Bank of Greece is also a member of Europe’s Central Banking System (ESCB). Its registered shares have been listed on the Athens exchange since 1930.

You can get a Greek bank account online when you utilise an appointed representative. The best option to avail of if you wish to open your Greek bank account online is to speak with our team of global financial experts here at FormationWise. We offer a range of professional services for offshore account opening in Greece that is designed to get your account up and running. Our goal is to help you start to take full advantage of the perks that go along with holding a Greek bank account.

Yes, a corporate bank account is required to incorporate a company in Greece. Residents and non-residents who are above 18 years of age can open up a Greek bank account for personal or corporate purposes. Our financial professionals at FormationWise can assist you with opening a corporate bank account in Greece. We can also assist you with all of your company formation needs and offer a comprehensive range of services designed to assist you through the entire process.

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