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How could the current capital control policies of Greece impact my application process?

I learned that similar to China, Greece also has capital control policies that restrict international wiring. How could this impact my application process for the Greek Golden Visa program? How can I plan in advance to minimize the impact?

  • Papalois & Associates Legal
    October 08, 2018

    It doesn't affect you. The money that comes from abroad has no capital control restriction.

  • Right Target Estate
    October 10, 2018

    Capital control has no impact on the Golden Visa program at all since they don't apply for capital and funds that are imported in Greece for banks established outside Greece. This means that all funds that are imported in Greece (for the purchase of a property or for other reasons) can be freely exported. In any case, capital controls are already disappearing as well for Greek capita.

  • Energopiisi SA Investment Consulting Services
    October 10, 2018

    Υes, it is true that Greece still has capital controls. Certainly these measures have already become looser enough and are expected gradually to be abolished due to the exit of the memorandum. However, the existing measures do not affect capital funds that have been legally entered in Greek banks from abroad, since they are considered as new capital. They can either be re-exported in their entirety, or 100 percent cash withdrawn.

  • Pantazis & Associates Law Firm
    October 10, 2018

    There is no capital control restriction from abroad funds in relation to the Greek state. The conditions for the funds are to be legally entered in Greek banks from abroad.