Thursday , August 18 2022

Capital controls: Relaxation – How much money can we get – Newsbomb – News


In May, it probably comes new capital controls to relax and it will be of concern to him money transfer overseas by businesses, as well as expanding the limit for the transfer of money abroad by individuals.

During Holy Week, there was a dispute between the banks and the Bank of Greece. The new relaxation is another step towards raising the capital controls completely, which will point out that the Greek banking system is returning to regularity.

As has been known, since October 2018, restrictions on fundraising have been abolished in the country. A limit of € 4,000 for two months applies to the transfer of money abroad by individuals.

This threshold is now expected to increase to 5,000 to 6,000 euros in the two months. The new relaxation will mainly involve companies importing products and raw materials from abroad to maximize their activity.

In accordance with what is currently in force, transactions of legal entities or overseas traders up to a maximum of 100,000 euros per day, are permitted with the submission of the relevant documents and invoices to the bank, while the entrepreneur states that he has not filed the same documents with another bank.

For amounts over € 100,000 is given the approval by a committee of the Bank of Greece. With a new relaxation, transactions are processed directly by banks.

Source: Nation

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