Facts about opening a bank account in Greece

Opening a bank account in Greece involves banking, required documentation, and defined procedures. The process applies to residents and non residents, with specific rules depending on status and purpose.

Who Can Open a Bank Account

• Greek residents can open personal and business accounts.

• Non residents are also eligible under certain conditions.

• EU and non EU citizens follow similar core requirements.

• Account type depends on personal or business use.

Required Documentation

• Valid passport or national ID is required.

• A Greek tax number is mandatory.

• Proof of address may be requested.

• Additional documents may apply for non residents.

Tax Identification Requirement

• A Greek tax number is required to open an account.

• The number is used for all financial reporting.

• Banks cannot proceed without this identifier.

• Tax compliance is strictly enforced.

In Person and Remote Options

• Most accounts are opened in person at a branch.

• Some banks allow limited remote initiation.

• Identity verification is a key step.

• Final approval may still require physical presence.

Types of Accounts

• Personal accounts are used for daily transactions.

• Savings accounts offer basic interest features.

• Business accounts are required for commercial activity.

• Account features vary by bank.

Compliance and Checks

• Banks conduct customer due diligence.

• Source of funds may be reviewed.

• Anti money laundering rules apply.

• Ongoing monitoring is standard practice.

Processing Time

• Account opening is not always immediate.

• Review periods vary by bank.

• Missing documents can cause delays.

• Approval timing depends on account type.

Key Takeaways

• Opening a bank account in Greece requires formal documentation.

• A Greek tax number is mandatory.

• Both residents and non residents can open accounts.

• Compliance and verification are central to the process.