New Easing of Capital Controls in Greece

On August 3rd, 2017, was published the new decision of the Minister of Finance about Capital Controls in the Government Gazette. This decision will lead to a further easing of Capital Controls in Greece concerning the height of cash withdrawals per month and the opening of new accounts, as well. More precisely, individuals are allowed to withdraw sums of up to 1,800 euros per calendar month. Furthermore, companies are allowed to withdraw sums up to 50% from deposits coming from abroad (from September, 2017).  Finally, more companies (these which keep single-entry accounting) are allowed to open a new current or depository account by obtaining a new Customer ID in a greek credit institution, regardless if they already are holders of a bank account. This opportunity existed already for companies which keep double-entry accounting.