Opening and Maintaining a Bank Account in Greece: Katsouris Law Firm’s One-Stop-Shop Service
At Katsouris Law Firm, we offer a complete one-stop-shop service for opening and maintaining a bank account in Greece. A Greek account places your funds within a regulated European Union banking environment, provides direct access to euro payments and transfers and, depending on the selected product, permits deposits in US dollars or other major currencies. Eligible deposits at participating Greek banks are protected up to €100,000 per depositor, per institution, regardless of the number of accounts or the currency held. Our service covers the two stages of the banking relationship: opening the account and completing the annual update of customer information. Before you travel to Greece, we request and review every document, arrange translations and certifications, obtain the required Greek tax number and coordinate the bank appointment. Once the agreed file has been supplied and verified in advance, we guarantee same-day opening for an individual, a Greek company, or an international or third-country company, removing surprises and unnecessary difficulty from the application. This preparation lets clients complete the process efficiently, with the account and digital access ready before departure.
Personal Bank Account. Obtaining a Greek tax registration number, known as an AFM, is not optional. It is a mandatory and non-negotiable first step. Katsouris Law Firm completes the AFM registration before the banking appointment and prepares the applicant’s full file, normally including a passport or identity card, proof of permanent address, contact details, evidence of occupation or employment, income information, and confirmation of each country of tax residence and its corresponding tax identification number. The bank must also understand why the account is being opened and what activity is expected. Where money will arrive from abroad, we prepare a clear source-of-funds record supported by the appropriate tax returns, salary records, bank statements, company accounts, investment statements, inheritance papers or sale agreements. Foreign documents are translated, certified, apostilled or legalised where required before arrival, allowing the scheduled appointment to be used to open the account rather than identify missing paperwork.
Greek Corporate Bank Account. For a company incorporated in Greece, the bank must verify the entity, its authorised representatives and the natural persons who ultimately own or control it. The file generally includes the company’s AFM, current articles of association, General Commercial Registry certificates, registered-office details, evidence of business activity, financial or tax information, and a corporate resolution authorising the account and its operation. Katsouris Law Firm prepares the resolution, identifies the signatories and establishes the required e-banking users, cards, transaction limits and approval structure. The ownership chain must be transparent. Under the Greek anti-money-laundering framework, ownership above 25 per cent indicates direct or indirect control, although control may also arise through voting rights, agreements, management powers or other means. We present the structure in a clear corporate chart and support it with the necessary registry extracts, identity documents, tax information and declarations, enabling the bank to understand the company before the appointment.
International or Third-Country Company Account. A company incorporated outside Greece may establish a local Greek banking relationship without relocating its entire business, but the supporting file is more extensive. The company must obtain a Greek tax number, and Katsouris Law Firm coordinates that registration and any related representation arrangements required in Greece. The file usually includes its certificate of incorporation, constitutional documents, certificate of good standing or equivalent registry evidence, registered-office confirmation, details of directors and authorised representatives, shareholder information and full ultimate-beneficial-owner documentation. Foreign documents must be recent and may require an Apostille or consular legalisation followed by an official Greek translation. The company should also explain its commercial reason for using a Greek account, expected turnover, principal countries and counterparties, source of the initial deposit, and anticipated incoming and outgoing payments. We resolve these matters with the selected bank in advance and coordinate the same-day appointment and account activation.
Annual Updating and Continuous Access. Opening the account is only the first stage. Once a year, in the banking relationships managed through our service, the bank will request updated information concerning identity, address, telephone number, email, tax residence, tax numbers, income, occupation or employment, and the customer’s general financial profile. Companies must also refresh their registry documents, directors, shareholders, beneficial owners, signatories, financial information and description of business activity. Any material change during the year should be reported without waiting for the annual review. Participating banks may use Greece’s eGov-KYC system, with the customer’s consent, to retrieve certain identity, contact, income and professional information from public registers; foreign residents and international companies will usually provide documentary evidence. Katsouris Law Firm manages the annual update as part of the same one-stop-shop service. We maintain the timetable, contact clients wherever they are in the world, collect and review documents, arrange translations and certifications, submit the file and follow the process through with the bank. We guarantee timely completion of the annual update so that clients retain continuous access to their Greek bank accounts wherever they are located.
