Due to the climate prevailing in the Greek economy and the fear that the risk of deposits in Greece, many are considering transferring their money in foreign accounts.
Inhibitor, these days, to transfer money abroad is perhaps deliberate, ambiguity of the new tax bill . Based on the new law, the bank manager told someone wanted to open a deposit account abroad, that will have tax returns. Key Points of the Article 18 are references to encourage repatriation of capital has not been declared and it was already abroad when the date of the bill (April 15, 2010). That makes no reference to future deposits and the existing use if we have the money out is not declared to tax office and we want to "formalize".
The other problem opening an account abroad is that we should go there themselves for small amounts (eg in Switzerland for amounts less than 250.000 CHF - 175.000 euros). A trip is a bad idea in a beautiful country like Switzerland. Banks asking for passport and possibly account DEI - OTE - bills to verify residence. For larger amounts, in some Swiss banks, there are ways of opening from a distance, but it needs some time to see the applicant come even if the bank's representative at it. Interest rates are low and "good" accounts pay a fee each year.
It is usually easier to open an account in a foreign country through a bank branch in Greece. Some of these banks are:
- In Cyprus : Marfin, Cyprus, Greek Bank, Commercial, National, General, Piraeus, Eurobank.
- In Russia: Kedr Bank
- In Romania : Commercial, Alpha, Citibank, Marfin, Eurobank (BankPost), ATE Bank, Millennium, Piraeus. Interest rates fluctuate in the Romanian Greek levels
- In England : Alpha, Citibank, HSBC, Cyprus, Eurobank, Emporiki, Marfin, National, Piraeus
Since opening an account abroad is unusual request, often by officials in Greece do not know the process and will require some perseverance. Natural barriers to serving the local banks to avoid losing precious liquid. With some phones in the shop of the country or even in email can be found by the procedure. To open an account remotely sometimes there are sunk costs, eg The Kedr charged 65 euros.
When you transfer money abroad no charge for remittances. Is usually .15% to 0.30% of the amount, with a few (5-10 million) and maximum (100-300 euros). Eg Bank of Cyprus can tell you that in order to transfer 100,000 euros from Greece to Cyprus they want 120 euros. But there are ways to transfer have a much lower cost and no such can every day to send free Euro 8000 via the Onebank . The destination store usually gives the best solutions.
If there is an internet banking you pay considerably less, eg Alpha Bank is 0.30 euros in EU and 10 euros for non-EU but the costs of foreign banks. The system of Piraeus Online for amounts of around 10,000 euros charged around 5 euro.
As for the taxation of interest, residents of Greece should give themselves a 10% interest in the Greek tax authorities, in the month following receipt of interest. They may seek exemption from the withholding tax process in the state are deposits. Excluding Belgium, Luxembourg, Austria, Switzerland, Andorra, Monaco, Liechtenstein and San Marino, Andorra, British Virgin Islands, Guernsey, the Isle of Man, the Netherlands Antilles, Jersey, the Turk and Caicos. In some of these countries apply a transitional period during which interest is tax deduction (20% -35%) in a foreign country and that amount (75%) will be given to country of origin of the applicant.
Opening this section of the site presents the time deposit interest rates in Romania. This is a country in the hands of the IMF over a year, so it has many similarities to Greece. The deposits are guaranteed by the Romanian Deposit Guarantee Fund up to the equivalent in LEI of EUR 50,000. If the bank is based in an EU country you can choose to be covered by the guarantee of origin.
Compare deposits in three currencies: Euro , Ron (Lei) and USD .
Like all information on the site, deposit our money in a bank abroad is not an investment recommendation or a proposal. The aim is to be aware of the possible choices, but in the end the decision and the burden of responsibility is always ours.
Έχω 20000 USD σε δολαριακό λογαριασμό της Εθνικής Τράπεζας.
Μπορώ να τα μεταφέρω σε δολαριακό λογαριασμό που έχω στην Ελβετία μέσω e-banking;
Ή αυτό μπορεί να γίνει μόνο με έμβασμα;
Εχω ανοιξει νορβηγικό λογαριασμό, αν μεταφέρω τα λεφτα μου στη Νορβηγια με συμφέρει; Θα χασω λεφτα από τη μετατροπή νοκ σε ευρο, οταν θελώ να τα γυρισώ πισω στην Ελλάδα;
Ευχαριστω
CONGRATULATIONS TO TSIG.GR FOR USEFUL INFORMATION
We want to know about PrivatBank.
They are reliable, why give so much interest? There is risk of loss of deposit or other risk? Did you phone the store [-in] in Cyprus or email;
Thank
16.875/etos
If a Greek is permanently resident abroad, 15me had bought 20 years ago a property in another European country, wants to sell and enter the price in GREEK bank, what is valid; pay tax repatriation;
Good afternoon
Reading the text above I created a few questions. Anyone who knows please enlighten us on and thanks in advance
The first thing I did not understand is what the text says: "As to the taxation of interest, residents of Greece should give themselves a 10% interest in the Greek tax authorities, in the month following receipt of interest. They can ask exemption from the withholding tax process in the state are the deposits. "
If anyone has an account in Cyprus and there is exempted from taxation, we will give here the 10% taxation of interest next month. Proceedings dld what procedure should be followed; And if the money is in fixed deposit so that the interest will go after a while the yield of taxation that is;
The other question is when I go to repatriate the money will pay some taxes; A friend told me that bank from July to Commercial is money coming from outside the state keeps 5% tax and that October will go to 8%. Is it true and if so any amount;
Thanks
I have a joint account with deferred Cypriot citizen in a bank in Cyprus since 2004. The tax on the interest (10%) held by the bank there. Finally we also have to pay tax on the interest in this case? If transfer and other money transfer applicable to this account will no complication with the repatriation of this capital later?
Thanks for the useful and simple tips to offer.
To find out the rates on time deposits of Bank of Cyprus in Cyprus, you should call a branch of the island or is in another way?
But by the bank branch in Athens, I asked, they told me they do not know about interest rates in Cyprus.
Explanatory report, that I know of the links below, but they report only to deposits redeemable at the Bank of Cyprus in Cyprus.
http://www.tsig.gr/lang-el/foreign-bank-deposits/Cyprus
http://www.bankofcyprus.com/main/files/Deposit% 20rates% 20for% 20Internet% 20Greek% 2031% 2003% 2010.pdf
Thanks.
Hi, dude man, I beg you.
I sold my house, I go to gather and equator once and for all.
How can I transfer all the money there (with a lower commission);
I mean, take them away with my Leaving hidden or otherwise;
that none of the two;
thanks advance for apantisi.leonidas
Good morning.
radio boot or reality?
Went to the National Bank today my father and informed the manager of the branch there will be 10% tax (on capital and not to the interest) repatriated funds according to a bill that was passed around June 16, 2010????
know something about it?
I sent out in April to transfer a significant amount.
If the book out plirononatas tax of 8% warrants Occupying; I can post them when I get where they declare their interest takes off;
Thanks
The moment of truth for thousands of depositors rushed to 'deal' money abroad seem to reach, and the Treasury, with the assistance of special forces foroelegktikon has already thorough checks on those who moved more than 30,000 euro abroad.
Those who transferred money to foreign banks 'pinned' their own, essentially opening their accounts, showing that the amount of their deposits in law enforcement and supervisory authorities.
Thus, the economic staff of the Government and the Bank of Greece, but the homicide cases know exactly what, when and what amounts transferred to foreign banks. Most of the money "taken away" refers to "black" money, not money accumulated by the workers and generally by individuals and companies without tax outstanding.
Based on these data, but also estimates more than 50% of those displayed in the list will eventually face a serious fiscal problem and of course the heavy penalties involved new laws in force.
The biggest problem will arise for those who directed their deposits with Cyprus banks, given the close cooperation between the two countries and may present evidence at intersections. Not excluded, then, are the first results of the checks are already in the background to cover depositors carrying amounts in Cypriot financial institutions.
At the same time has opened dialogue between the Greek side with the Swiss banks and the authorities to provide detailed records depositors from previous seasons to get into those in cross-checks.
In parallel, the economic team knows exactly who and what amounts transferred to banks in other European countries but the United States.
The system worked remarkably simple and effective accordingly.
Banks are required for any transaction over 10,000 euros to inform forodioktika institutions to control and reduce the "black" money circulating in the country. This they did. It was plain, therefore, to collect and classify data, which arrived on a daily basis and reach the computers in the Ministry of Finance.
From now on, it initiated calls taxpayers and recursive controls that do not appear to be "agreeable" to any of them.
For several weeks it seemed strange that the economic team in no hurry to announce his intentions for this category of tests. But the "silence" of the state was able to open in thousands of bank accounts, although it did following the judicial process, would like outside of the categories for many years to complete the process.
It should be noted that even those who withdrew their money and kept in chests or in bank lockers are in the same category foroelenchon exceptional, since updated the system and regardless of whether the unknown destination of money.
In the second level, "Microsoft" of the tax authorities are deposits Greeks abroad, who do not declare their interest to avoid taxation. Details on these deposits collected by the General Secretariat of Information Systems, which relate to the period from 2005 onwards. The Finance Ministry wants to reduce the effects of tax evasion relating to interest these deposits as the saver / investor receives interest abroad and also entitled to request exclusion from the process of withholding tax, but to show such interest the Greek Tax Authorities.
However, although considerably reduced pace, last week, continuing an outflow of deposits Greek abroad. The data of the Central Bank of Cyprus is revealing. About 600 million has been injected in April in the financial system of Cyprus by Greece.
According to the Central Bank of Cyprus, deposits of residents of other euro area countries, including in particular the statements coming from Greece, arrived in April to 2.8 billion euros from 2.2 billion in March and 1.2 billion in April 2009. From the beginning of the flow of deposits from residents from the euro area recorded an increase of 1.1 billion euros. Illustration, the Cypriot banks have put their counters 4 billion and lent only 1.6 billion. Excluding a number of factors relating to currency and government deposits, a net increase in deposit base of Cypriot banks amounted to 2.3 billion.
According to the latest data from the Bank of Greece, in late March, deposits in Greece stood at 227.36 billion, compared with 229.5 billion at the end of February. Since the beginning of the year, the total reduction of deposits nearly 10.6 billion euros, equivalent to 4.5%
by
http://www.zougla.gr/page.ashx?pid=2&aid=148879&cid=8
Hello,,
Because of kindylogias, I went to Germany in May and opened a bank account with Deutche Bank in my name, carrying 100,000 euros on the grounds that bankruptcy will not lose my money. H transfer was made through web banking.
But reading your article, I realized that not worthwhile because they will have to pay taxes on 8% (ie 8.000 per year) and want to return to Greece.
Returning the money to Greece (via web banking),
What will I transport;
Will be taxed;
We should say to the tax authorities;
Until when can I do to not taxed;
I note that the money is only a month in the German bank and in fact I have not gotten any interest. Also part of the money belonging to my parents, I gave the order not to miss a possible chreokopeia.
What do you suggest;
Thank you.
If you transfer the money in my bank branch in Cyprus Cyprus, and I've been there in a term deposit will pay tax in Cyprus or Greece? If you want to get in Greece will have to pay tax on the repatriation of money or do with the 1Bank bank to transfer to my account here without any tax issues?