Opening a bank account in Greece is not as straightforward as in Israel. Due to Greece's economic crisis, the country sought assistance from the European Central Bank and the European Union, resulting in stricter requirements for foreign nationals opening bank accounts. As a result, the process of opening a bank account in Greece is bureaucratic and lengthy, involving the completion of numerous forms, many of which are unclear, and requiring the submission of various documents translated into English. The process can take weeks or even longer, often frustrating many Israelis dealing with the challenging system.
Opening a Bank Account - How can we help?
At Lar Homes, we have Hebrew-speaking attorneys who assist our clients in opening bank accounts in Greece smoothly, without the associated stress. All that investors need to do is provide our local attorneys with the necessary documents listed below, and they take care of the procedure with the bank, ensuring the account is opened promptly.
Required documents:
Valid passport - The bank requires a valid passport as a primary condition for opening a Greek bank account.
Greek Tax Identification Number (AFM) - Similar to an Israeli ID, the AFM is required for any financial activity conducted in Greece. Lar Homes' legal team assists clients in obtaining the AFM easily, eliminating the need to navigate Greek bureaucracy.
Israeli electricity bill - Greek banks need to verify that the account opener is a resident of Israel. Presenting an Israeli electricity bill fulfills this requirement. The original bill and its translation into English are required. Lar Homes' attorneys ensure the electricity bill is translated and presented to the bank.
Salary slip - Greek banks need to verify that the account opener has a steady income. Presenting a salary slip meets this requirement. Like the electricity bill, the original salary slip and its translation into English are necessary. Lar Homes' legal team handles the translation and submission to the bank.
ID card with appendix - Similar to presenting the electricity bill, presenting an Israeli ID card with an appendix is another requirement to prove the account opener is a real person and an Israeli citizen.
Cellular phone bill - Similar to presenting the electricity bill, presenting a cellular phone bill serves as additional proof for Greek banks that the account opener has ties to Israel and pays bills there. The original cellular phone bill and its translation into English are required. Lar Homes' attorneys take care of translating and presenting it to the bank.
Opening a bank account – Can it be done remotely?
The attorneys of Lar Homes offer an additional service to the company's clients, aimed at facilitating those who cannot or do not wish to travel to Greece, by opening a bank account for them remotely through a notarized power of attorney. Clients interested in opening a bank account remotely are required to undergo a process called "apostille," which is performed by a local lawyer. This document validates the Greek lawyer's authority to open the bank account for the clients, without their physical presence at the location.
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