TMF Group has been closely monitoring the current economic and political situation in Greece and is drawing on its international presence to help local businesses impacted by capital controls.
TMF Group Greece managing director Yannis Goussiakis said: “The main concern for Greek entities is personnel, as right now employees including sales staff are only able to withdraw €420 per week to support themselves and their families, and those who need to travel abroad for business reasons cannot use their bank cards above this amount.
“We are working with the TMF Group Cyprus office and our counterparts in Bulgaria to establish bank accounts for affected personnel in order to help businesses continue regular trade.
“Meantime we note the Greek government has taken steps to help stabilise the business climate:
- Companies that wish to make remittances abroad for the payment of suppliers and imports may make the request to a specific commission created for approving bank transactions. Companies must also contact their bank.
“The situation continues to be extremely fluid and our experts in Athens are staying in regular contact with local authorities and clients in order to provide them with the most up-to-date information.”
TMF Group Greece is pleased to be able to utilise its global network to assist local businesses at this challenging time.
Click here for more information about how we can help Greek entities and individuals.
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