Greece Guide: Money

Our money guide provides information on bank accounts, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Banks

  Where to manage your finances

  Greece generally has good banking facilities, which have improved considerably in recent years, although you may find Greek banks frustratingly slow and inefficient compared with their European counterparts.

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  Accounts

  How to open a bank account in Greece

  You can open a bank account in Greece whether you’re a resident or a non-resident.

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  Cards & Traveller's cheques

  How to use them

  An instant method of obtaining cash in Greece is to use a debit, credit or charge card from an automatic teller machine (ATM).

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  Cost of Living

  What is the cost of living in Greece?

  It’s virtually impossible to calculate an average cost of living in Greece, as it depends on each individual’s circumstances and lifestyle.

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  Importing & Transferring Money

  How to receive and transfer money

  Exchange controls in Greece were abolished on 1st January 1990 and there are no restrictions on the import or export of funds.

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  Offshore Banking

  Putting your money in a tax haven

  If you have a sum of money to invest or wish to protect your inheritance from the tax man, it may be worthwhile looking into the accounts and services (such as pensions and trusts) provided by offshore banking centres in tax havens such as the Channel Islands (Guernsey and Jersey), Gibraltar and the Isle of Man (some 50 locations world-wide are officially classified as tax havens).

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  Income tax

  An introduction to Greece's income tax

  Greek income tax ( foros issodimatos) is near the EU average, particularly for large families.

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  Income Tax Liability

  Who is liable to pay income tax?

  Your liability for Greek income tax (and certain other taxes) depends on where you’re domiciled.

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  Taxable Income & Allowances

  What part of my income is taxable?

  Income tax is payable on both earned and unearned income.

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  Income Tax Rates

  Calculating your income tax

  The tax year in Greece is the same as the calendar year, i.e. 1st January to 31st December.

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  Income Tax Returns

  Filing and payment

  Tax returns must be filed by 1st March for the previous tax year, e.g. the return filed in March 2005 is for the year 2004.

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