Opening a Bank Account with Greece Golden Visa: What You Need to Know in 2025
The Greece Golden Visa program is becoming increasingly attractive for entrepreneurs planning to obtain residency in Europe and international workforce. In recent years, Greece has made significant updates to its visa and investment policies to attract both non-European investors and global companies. However, one of the key challenges faced during the evaluation of these opportunities is opening a local bank account and managing financial requirements correctly.
In this article, I will detail the processes for opening a bank account with the Greece Golden Visa by 2025, the regulations to comply with, and current practices.
Why is Opening a Bank Account Critical in the Golden Visa Program?
The Role of Financial Infrastructure and Compliance for Investors
Those wishing to obtain residency under the Greece Golden Visa must primarily open a bank account within the country. The main reasons are as follows:
- Investment Transfers: The program offers two main investment paths: real estate purchase (min. €250,000) or bank deposit (min. €500,000, 1-year term). In both cases, a bank account is required for the smooth transfer of funds to Greece.
- Payroll and Tax Optimization: Fund movements made through a local bank account will provide the legal basis for future global workforce solutions such as establishing a company, employing staff, and payroll management.
- Compliance with Immigration Regulations: Official institutions require local banking history and financial transparency in residency applications through investment.
According to recent regulations, a Golden Visa application cannot be made without opening a bank account. Current practices require financial preparation before the application and full compliance with legal processes.
How to Open a Bank Account in Greece Step by Step?
Required Documents, Process, and Latest Requirements
The key stages and document requirements to consider when opening an account in Greek banks are as follows:
- 1. Choosing the Investment Path: Decide whether to prefer real estate or bank deposit for the Golden Visa application. The minimum amount for a bank deposit in 2025 is €500,000.
- 2. Obtaining a Tax Number (AFM): A Greek tax identification number must be obtained through the local tax office or an authorized lawyer. This is mandatory for all financial transactions.
- 3. Account Opening: Most applications require a personal visit to the branch.
- Passport
- Proof of address (residence certificate or bill)
- Greek tax number (AFM)
- Document showing the source of investment and the legal origin of the funds
- Relevant investment intention document (e.g., pre-sale agreement, deposit commitment)
- Translated, notarized documents
- 4. KYC and Interview: Identity verification (KYC) at the bank, signature, and confirmation of the information you provided if necessary. While most banks accept remote pre-applications, a physical visit is required for biometric verification.
Documents must be translated into Greek, notarized, and apostilled. In the new application, there are additional documentation and review processes for applications from countries outside FATF/OECD.
For more detailed official information, you can access it here.
2025 Updates: Obtaining Residency with Bank Deposit in Golden Visa
Recent Regulatory Changes and Application Facilitation
As of 2023, Greece has accelerated Golden Visa applications through bank deposits. Key points for 2025 include:
- Minimum €500,000 Deposit: This amount must be deposited into a term account opened at a local bank. The minimum term is 1 year, with automatic renewal available.
- Multiple Currency Options: Accounts can be opened in currencies other than EUR to protect against exchange rate fluctuations.
- Residency for Family Members: Owners of savings accounts can provide renewable residency rights for their spouse and children for five years.
Applying through a bank deposit offers advantages in terms of time and risk management for investors, as it does not involve property valuation or leasing processes compared to real estate acquisition.
Challenges and Tips in Opening a Bank Account
Compliance, Documents, and Correct Strategy
- Right of Refusal by Banks: Each bank can refuse to open an account without providing any reason. There is an increase in meticulous scrutiny and document requests, especially for applicants from FATF/OECD non-member countries.
- Comprehensive Document Preparation: Banks require transparency of the source of funds, tax declarations, and a clean financial history (e.g., credit report).
- Official Translation and Notarization: All documents must be translated into Greek, notarized, and apostilled if necessary.
- Local Expert Support: Working with a legal or immigration consultant experienced in the Greek market reduces uncertainties in the process.
- Strategy for Quick Application: If documents are complete, account opening can be completed in 7–10 days, while residency applications can take 2–3 months.
While a local bank account is not mandatory for property acquisition, it is recommended for title deed transactions and local expenses.
Key Information and 2025 Perspective: Opportunities for Global Mobility
Brief Information Table on the Process & Market Dynamics
| Requirement | Detail |
|---|---|
| Minimum Deposit | €500,000 – 1 year term, automatic renewal |
| Personal Asset | Identity and biometric verification required at account opening |
| Application Documents | Passport, AFM, address, source of funds, investment document, notarized |
| Process Time | 7–10 days for account opening, 2–3 months for residency approval |
Recently, steps towards digitalization in ‘residency by investment’ programs in Greece have accelerated. Many banks have activated remote pre-assessment or pre-application forms in their application processes.
- A Gateway to Global Mobility: The Golden Visa provides quick access to European markets, operational flexibility in the process of international workforce transfer and incorporation.
- Current Regulations: Additional controls have been implemented in compliance with FATF and OECD. The scope has particularly expanded in the areas of money laundering and tax transparency.
- Opening Up to New Markets: Greece has become an important alternative within the EU for digital entrepreneurs, remote workers, and investors looking to diversify their portfolios.
For more information and the latest regulatory changes, you can check the Greece Golden Visa guide.
Conclusion: Compatible and Practical Solutions for Corporate and Individual Investors
The Greece Golden Visa process has integrated rapid digitalization, increasing regulatory oversight, and diversified investment options in 2025. Opening a bank account can be completed quickly with proper document preparation and local expert support; however, compliance obligations and the application strategy should be carefully monitored according to the latest regulations.
Transparency and sustainability in banking processes are key factors for your global mobility, incorporation, and international workforce solutions. Both individual and corporate investors can make a successful start in Greece by evaluating existing opportunities with the right steps.
