Section 01
Top Banks for Foreign Investors
Greece has four ECB-supervised systemic banks, all of which serve non-resident and Golden Visa property investors. A Greek tax number (AFM — Arithós Forológikou Mitróou) is required before any account can be opened. All four banks have improved significantly post-crisis in capital quality, digital capability, and HNW servicing.
Alpha Bank S.A.
Retail · Private Banking · Golden Visa Specialist
Account Types
EUR current & savings for residents and non-residents (AFM + KYC required); tailored Golden Visa solutions including qualifying mutual funds and term deposits
Min. Deposit
€300 (~$325 USD) standard accounts · €350,000 Golden Visa mutual fund · €500,000 Golden Visa term deposit
Remote Opening
In-Person Required — non-residents must attend in person to sign and complete KYC; documentation can be pre-collected remotely via lawyer
Languages
Greek and English at major Athens branches and private banking desks; Golden Visa materials provided in English
Online / Mobile
Full Access — Alpha Web Banking and Alpha Mobile Banking
Reputation
ECB-supervised systemic bank; actively targets Golden Visa and non-dom clients with integrated banking/tax solutions; rating agencies cite improved asset quality since the crisis
Eurobank S.A. (Eurobank Ergasias)
Retail · International Mortgages · Expat Services
Account Types
EUR current & savings (AFM + KYC); dedicated non-resident mortgage product for buying, repairing, or building in Greece — including holiday homes — without requiring Greek citizenship
Min. Deposit
€250 (~$270 USD) for basic accounts; package-dependent
Remote Opening
In-Person for Accounts — mortgage applications handled remotely with a Greek lawyer as proxy; account opening still requires in-person visit
Languages
English interfaces and English-speaking staff in central branches and international units
Online / Mobile
Full Access — Eurobank e-banking and mobile app usable from abroad
Reputation
Awarded “Best Bank in Greece” by Global Finance in recent years; strong digital and international services; popular with non-resident property buyers
National Bank of Greece S.A. (NBG)
Retail · Corporate · International Branches
Account Types
EUR current/savings accounts for residents and non-residents (AFM + documentary checks required)
Min. Deposit
€250 (~$270 USD) typical for basic retail accounts; specific products vary
Remote Opening
In-Person or Proxy Required — non-residents generally must attend or work via local proxy; specific confirmation documents required for third-country nationals including visa and tax-residence certificates
Languages
Greek and English at central branches; documents accepted in Greek or English; certified translation required for other languages
Online / Mobile
Available Abroad — online and mobile banking accessible from foreign phone numbers once registered
Reputation
Greece’s oldest bank; EU SSM supervised; resilience and profitability improved with the broader sector recovery post-2018
Piraeus Bank S.A.
Retail · Corporate / SME · Developer Finance
Account Types
EUR current & savings (AFM + KYC); wide SME and corporate services relevant for developers and SPVs holding Athens Riviera property
Min. Deposit
Few hundred EUR for basic accounts; premium/wealth tiers require higher maintained balances (package-dependent)
Remote Opening
In-Person Standard — Golden Visa applicants can sometimes operate via power-of-attorney through local counsel for parts of the process
Languages
Greek and English in metropolitan branches and call centres
Online / Mobile
Full Access — full online and mobile banking including SEPA and SWIFT transfers
Reputation
Largest Greek bank by assets; S&P and other agencies highlight improved operating performance post-recapitalisation; strong corporate and developer franchise
Section 02
Account Opening Requirements
AFM First — Everything Else Second
A Greek tax number (AFM) is the single most important prerequisite for any banking or property transaction in Greece. Obtain it through a Greek lawyer or accountant before your property trip. Without it, neither accounts nor notarial property deeds can proceed.
| Requirement | Details |
|---|---|
| Greek Tax Number (AFM) | 9-digit tax ID obtained from the Greek tax office; typically arranged via a lawyer or accountant before or during the first visit to Greece. |
| Identification | Valid passport. Greek entry visa required for third-country nationals where applicable. |
| Proof of Address | Recent utility bill or official document showing permanent residence abroad; usually requires stamping, notarisation, and often official translation into Greek or English. |
| Proof of Income | Income tax returns from home country (last 1–3 years), employer letter or work certificate stating position and income, and recent bank statements. |
| Greek Contact Details | Greek address (property purchase contract or lawyer’s address acceptable) and often a Greek or EU mobile number for e-banking activation. |
| Tax Residence Certificate | Some banks require a tax-residence certificate issued by the home-country tax authority for non-residents. |
| Golden Visa Documents | Purchase contract / notarial deed for property; proof of payment through banking channels; or evidence of eligible financial investment (fund subscription or term deposit confirmation). |
| Source of Funds (SOF) | Mandatory for all large inflows. Salary slips, business income evidence, sale contracts, or inheritance documents. For Golden Visa investments (€350K–€800K+), expect detailed bank statements and full transaction trails. |
| Timeline & Friction | |
|---|---|
| Processing Time | With AFM obtained and documents complete: 1–3 weeks in straightforward cases. Longer where documents require translation, apostille, or compliance raises additional queries. |
| KYC / AML Framework | Greek banks apply EU AMLDs under Bank of Greece supervision (CRD/CRR). Non-EU nationals and PEPs undergo enhanced due diligence including wealth-source analysis and sanctions screening. |
| Known Friction Points | AFM acquisition delays · Multiple rounds of document requests (extra utility bills, extra years of tax returns) · Insufficient SOF/SOW for large Golden Visa transfers · Branch-level risk appetite varies · US-person FATCA complexity causes some branches to slow or discourage onboarding |
Section 03
Golden Visa Banking Thresholds
Significant threshold increases took effect in 2023–2025. Investors must route qualifying funds through a Greek bank account to satisfy payment evidence requirements for the visa application.
Attica / Athens Riviera
€800,000
Real estate minimum in Attica region (including Athens Riviera)
Other Regions
€400,000
Real estate minimum outside Attica / other qualifying regions
Fund Investment Route
€350,000
Qualifying fund subscription (e.g., Alpha Bank Golden Visa mutual fund)
Term Deposit Route
€500,000
Qualifying term deposit at a Greek systemic bank
Payment Through Banking Channels Is Mandatory
Greek Golden Visa regulations require that qualifying investment payments be demonstrably routed through regulated banking channels. Cash or non-bank transfers do not satisfy the evidentiary standard. A Greek bank account opened before the property transaction is essential.
Section 04
Private Banking Options
| Provider Type | Minimum AUM / Threshold |
|---|---|
| Greek Private Banking (Alpha, Eurobank, NBG, Piraeus) | €300,000–€500,000 investable assets for entry. Bespoke UHNW services typically from €1M+. |
| International Private Banks (UBS, Julius Baer, others) | €1M–€3M typical minimum. Serviced from EU / Swiss booking centres (Luxembourg, Zurich) under EU passporting and MiFID II. |
International Banks Service Greece from Offshore Hubs
Most international private banks do not book accounts onshore in Greece. They service Greek-resident or Greece-exposed clients from Luxembourg, Zurich, and other EU hubs. Relationship managers travel to Athens / Athens Riviera or work with local law and tax firms to support complex investors.
| Service | Relevance for Greece / Athens Riviera Investors |
|---|---|
| Discretionary / Advisory Portfolio Management | EUR and global-currency portfolios coordinated with Greek non-dom (flat tax on foreign-source income) status and Golden Visa structures. |
| Lombard Loans | Finance property purchases, renovations, or bridging for Golden Visa transactions against existing portfolio collateral. |
| FX Hedging | Manage exchange risk between investor home currency (USD, GBP, CHF, etc.) and EUR property assets. |
| Non-Dom Tax Coordination | Greece’s non-dom regime offers a flat annual tax on foreign-source income for qualifying new residents. Private banks structure portfolios to optimise this alongside Golden Visa investment requirements. |
| Developer / Family Office Credit | Tailored credit lines for developers and family offices with multiple Athens Riviera assets. |
Section 05
Fintech & Alternative Banking
Greek Bank Account Required for Golden Visa & Mortgages
Fintech accounts are excellent FX tools but do not satisfy notarial, mortgage, or Golden Visa payment-channel requirements. A Greek bank account remains strongly recommended for all property completions and investor-visa transactions.
Wise
Widely used to fund Greek bank accounts and convert FX cheaply ahead of property purchases. Supplementary transfer tool only.
Revolut
Listed in 2026 neobank guides for Greece. Offers Greek (GR) IBANs and EUR transfers; useful for day-to-day spending. Not sufficient for property completions.
N26 / Bunq / Snappi
EU-licensed digital banks available to Greek-resident and Greek-exposed investors. Useful as supplementary accounts; discuss Greek IBAN acceptance before using for large transfers.
Greek Digital Banking
All four systemic banks have significantly upgraded digital channels — once onboarded in-person, accounts can be managed almost entirely online from abroad. No standalone Greek neobank yet at scale.
Section 06
Currency & Repatriation
| Topic | Greece Position |
|---|---|
| Local Currency | Euro (EUR) — Greece’s sole legal tender. All property and mortgage transactions EUR-denominated. |
| Foreign Currency Accounts | Major banks offer USD and GBP accounts to affluent and corporate clients. Most property-related flows remain in EUR. |
| Capital Controls | Fully lifted. EU reports confirm Greece exited enhanced surveillance in 2023; normal EU free-movement-of-capital rules apply. Transactions may still be delayed for AML, sanctions, or tax-risk reasons. |
| Rental Income Repatriation | Rental income collected in a Greek EUR account and remitted via SEPA (EU) or SWIFT (non-EU). Banks may request tenancy agreements or tax documentation for large or frequent remittances. |
Section 07
Tax & Reporting
| Income / Tax Type | Rate & Notes |
|---|---|
| Bank Interest Withholding | ~15% withholding tax on interest paid by Greek banks to individuals. Double-tax treaties may reduce this for non-residents — confirm with a Greek tax adviser. |
| Rental Income (Greek-Sourced) | Taxable in Greece and must be reported on Greek returns even for non-residents. Rate bands and deductions evolve with annual tax reforms. |
| Non-Dom Regime | Qualifying new Greek tax residents pay a fixed annual flat tax on all foreign-source income. Particularly attractive for investors relocating and renting out property elsewhere. Must be structured carefully alongside Golden Visa if applicable. |
| FATCA Compliance | Greece has an IGA with the US. Banks identify US persons and report account data through Greek authorities to the IRS. |
| CRS Compliance | Greece participates in OECD CRS; banks collect tax-residence self-certifications and report to Greek tax authority for automatic exchange with other jurisdictions. |
| Home-Country Reporting | Foreign investors must separately comply with home-jurisdiction obligations (US FBAR / Form 8938, UK foreign income declarations, EU country-specific rules). |