The decision by Finance Minister Euclid Tsakalotos on further loosening of capital controls has been published in the Government Gazette. In particular, natural persons that had no bank account may now open one or may add a co-holder to an already existing account. In addition, cash may be withdrawn in their entirety (instead of 50% that applied up to now) when it comes to amounts that, after 01.12.2017, are transferred from abroad to existing accounts kept in a credit institution in Greece.

Finally, the limit of transactions with entities abroad is doubled for legal persons or businessmen, within the scope of their business activities, and now reaches twenty thousand (20,000) euros per client and per day, instead of 10,000 euros that applied up to this day.

 

Translation: Eleni Gogou