Introduction
Companies seeking to establish banking facilities in Greece have several options among the country's banks. The Greek banking system comprises the National Bank, which authorises and regulates other banks, along with private national banks and international banks operating via local branches.
When selecting a bank, corporate clients should compare terms and conditions, notably fees and charges levied on various transactions. Key considerations include overseas remittance capabilities, particularly for foreign company shareholders, and access to online banking platforms for transfers, amendments, etc. Numerous Greek banks have English-speaking staff to assist overseas enterprises.
Companies wishing to open corporate accounts in Greece can choose from multiple established domestic and global banks. YB Case specialists would be pleased to advise prospective business clients on selecting the most suitable institution based on their operational requirements, fees structure and language/online banking capabilities. We assist with the entire account opening process to ensure a smooth transition.
Opening a corporate bank account in Greece, 2024
Establishing a corporate bank account remains an integral part of company registration in Greece, to deposit the required share capital and administer ongoing business transactions. Banking facilities can be secured for the following legal entities:
- Greek companies and foreign subsidiaries
- Branches of overseas corporations
- International firms with Greek-based clients
- Account options: current, savings, investment and multi-currency accounts are widely available.
- Eligibility: both residents and non-residents can apply for corporate accounts. Suitable for self-employed individuals, SMEs, large companies and multinational corporations.
- Application process: end-to-end online account opening is feasible at certain Greek banks. Acquiring a local tax number is obligatory for foreign applicants.
- Services: comprehensive range of specialised business accounts. Free online banking with English interfaces at leading banks. Debit cards and sophisticated cash management solutions.
Greece offers varied corporate account options via established domestic and global banks. Our specialists would be delighted to advise overseas clients on selecting the optimal bank per operational needs and assist with the entire application process for a seamless onboarding experience.
Opening a corporate bank account in Greece: process for overseas entities
When establishing a corporate bank account in Greece, financial institutions require certain company documents from investors, although precise specifications vary between banks.
Typically, applicants must furnish:
- Constitutional paperwork
- Registered business address
- Directors'/shareholders' proof of ID
- Evidence that account funds are from legitimate sources
Whilst select banks permit fully online applications, most mandate in-person branch visits by corporate representatives to open accounts.
Remote account opening options in Greek banks
However, overseas investors commencing Greek business setup can initiate the process remotely before entering the country — an advantage over certain European territories with lengthier account opening timeframes necessitating on-location applicants throughout.
Ultimately, an authorised company officer must be present to execute final documentation. In summary, though most banks necessitate some physical attendance, Greece enables partial remote initiation to streamline eventual account activation.
Banking institutions for corporate customers in Greece
The Greek banking framework encompasses the national Central Bank along with commercial banks. The Central Bank regulates the system, upholds price stability and supervises private institutions.
- Systemically important banksFour major domestic banks exert substantial influence — Piraeus, Eurobank, Alpha Bank and Attica Bank.
- Additional Greek banksOther notable Greek retail banks include Pancreta Bank.
- International banksLeading global banks operating Greek branches include HSBC, ProCredit Bank and Bank of America Europe DAC. Their core services offered to companies include varied business accounts, online platforms, overdraft facilities for staff of Greek firms and customised debit/credit card solutions.
For further guidance on securing corporate accounts as an overseas entity, or to discuss particular operational banking requirements, you can contact our specialists directly. We strive to make access to local banking simple and seamless for international companies entering the promising Greek market.
