Capital controls to 5,000 euros a month by the Finance Ministry

The finance ministry has further relaxed capital controls in Greece with a decision sent for publication in the Government Gazette on Thursday, raising the monthly limit for cash withdrawals to 5,000 euros per depositor a month, from 2,300 euros at present.

The decision signed by Finance Minister Euclid Tsakalotos also further facilitates financial transactions abroad by legal entities or entrepreneurs as part of their business activity.

The amount in cash, either in euros or foreign currency, that can taken out of the country per individual per trip has been increased to 3,000 euros, while the maximum monthly limit for bank wire transfers abroad will be raised to 4,000 euros a calender month for each customer ID, as of July 1.

For businesses, the amount that can be sent abroad has been increased to 40,000 euros for each transaction per client and per day, with transactions carried out directly by credit institutions branch networks.

The finance ministry said that Greek authorities are aiming to fully lift capital controls as soon as possible, ensuring both macroeconomic and financial stability at the same time.

Source ANA-MPA
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