Need to obtain €40000 cash in Greece

Fatbeard said:
Many a slip between the cup and the lip.

'Shoes is trying to point out that should you make an attempt to circumvent the local currency rules you could find yourself falling foul of the law. Further, while your actions may seem legal to you, they are hardly 'above board' and therefore will attract attention on the Greek side.

Better to simply deliver funds in the UK. You may find your vendor is well served in this case. Hard currency, eg. unrestricted, and available for dispersal ... anywhere.
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Is there a suggestion that our EU currency is not as hard ast&at of the UK??
 
mickywillis said:
Why not fly your friend into the UK and pay him in cash here? If the deal is as good as you say, then the cost of a flight to the UK for your friend is negligible.
Then its up to the friend to bring the money back to Greece, not your problem. Whether he opens a UK bank account and transfers to his back in Greece or whatever method of transferring the money, even if he lets it reside in a UK account, it wont be your problem.
Also will be a good way to ensure that everything is above board, if he's willing to come to the UK to be paid, then most likely all good?
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Beat me to it. I was thinking the same. He could meet the Queen and take in a show.
 
Bet the OP is regretting his question now, over forty responses including those about Spain from the village idiot and all he has established is that there is no one here who knows enough to help him.
 
Spirit ... no the bit you quoted was not intended to imply the euro may not be a solid currency.

"One word. Zimbabwe." (post #34).
^^ That, however, does.

Quandry ... Micky's post #40 was probably the most helpful one and a real solution to the stated problem. Also the point from Glenlivet #27 about probate, and frankly any other liabilities that might outstand against this boat. At least m8ey will think more carefully ... no? Although if he's from Yorkshire I imagine he is good with money! It's also been interesting looking at who drifted in here and why.
 
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Quandary said:
Bet the OP is regretting his question now, over forty responses including those about Spain from the village idiot and all he has established is that there is no one here who knows enough to help him.
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Came to the wrong forum for the advice he needs.
 
sailaboutvic said:
I doubt very much if going to find the answer here .
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Perhaps it simply reflects my nasty, suspicious mind, but I have wondered from the start if he was looking for someone with a yacht in a neighbouring country where the banking controls are less draconian who might be interested in doing some informal currency transfer by sea.

Gold bars on the keel?

51LJKt6GHeL._SX373_BO1,204,203,200_.jpg
 
Besonders said:
Any ideas on how I can resolve this issue would be appreciated
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Why don't you just fly out with an envelope full of cash? 80 x €500 will make at worst a modest bulge in an inside jacket pocket.

Since it's completely legal to export €40k in cash from the UK to the EU, and completely legal to legal to import €40k in cash to Greece from the EU, any more complicated jiggering around seems (a) unnecessarily complicated and (b) likely to arouse official suspicions ... "Why is he doing that when he could just have carried a wallet full of cash?"
 
JumbleDuck said:
Why don't you just fly out with an envelope full of cash? 80 x €500 will make at worst a modest bulge in an inside jacket pocket.
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I thought they'd scrapped the €500 note, for that very reason. Haven't seen one in a while anyway. So it would be 400 X €100, or as fifties are far more common, 800 X €50.
 
lpdsn said:
I thought they'd scrapped the €500 note, for that very reason. Haven't seen one in a while anyway. So it would be 400 X €100, or as fifties are far more common, 800 X €50.
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There were only €500 in the first series, as far as I know they're still valid. If the OP can't get hold of them, the second (Europa) series goes up to €200, and he'd need to carry 200 of them. More of a brick than a wad, but still pocketable.

I wonder why the seller wants cash? It sounds very dodgy.
 
Unless I'm mistaken, it's illegal to do such transactions using cash in Greece (after the capital controls)

I guess best solution (which most likely will or SHOULD suit the seller) is to get him to open a euro or GBP accnt in the UK (which again wont be easy for him if he's Greek-the diseased wasn't greek but the one receiving the money is or not?) and pay the money there.

Trying to get 40K in Greece now in cash is imho NOT a brilliant idea and not legal.

cheers

V.
 
vas said:
Unless I'm mistaken, it's illegal to do such transactions using cash in Greece (after the capital controls)

I guess best solution (which most likely will or SHOULD suit the seller) is to get him to open a euro or GBP accnt in the UK (which again wont be easy for him if he's Greek-the diseased wasn't greek but the one receiving the money is or not?) and pay the money there.

Trying to get 40K in Greece now in cash is imho NOT a brilliant idea and not legal.

cheers

V.
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I think your right but the funny thing is last time we when to the Tax office to pay for the DEKRA ,
we ask to pay by card and they said we only take cash .
Even funnier in the early days when it all first started that you had to go to the tax office I clearly remember going in to Corfu to pay she stamp the PP papers and being ask if I wanted a receipt . Well said .
 
sailaboutvic said:
I think your right but the funny thing is last time we when to the Tax office to pay for the DEKRA ,
we ask to pay by card and they said we only take cash .
Even funnier in the early days when it all first started that you had to go to the tax office I clearly remember going in to Corfu to pay she stamp the PP papers and being ask if I wanted a receipt . Well said .
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:D

that's one of the reasons why I love this place and returned back after 11yrs in the UK ;)
Entertaining things seem to happen all the time...
On a serious note, all transactions over 400-500euro (don't remember...) has to be via card. Hence my view that what the OP wants to do is illegal and generally not a v. good idea.

cheers

V.
 
vas said:
:D

that's one of the reasons why I love this place and returned back after 11yrs in the UK ;)
Entertaining things seem to happen all the time...
On a serious note, all transactions over 400-500euro (don't remember...) has to be via card. Hence my view that what the OP wants to do is illegal and generally not a v. good idea.

cheers

V.
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Vas, thanks for the input, where did you get the information that all transactions over €500 have to be via card and do you really think that applies to private individuals as well as businesses. I have undertaken copious research on the whole subject subject, prior to posting this thread and can find nothing that indicates what I am trying to do is illegal. A fact confirmed by the solicitors overseeing the sale. Unfortunately the solitors are advising on the sale and not the method to fund the sale other than ensuring the funds are paid to complete the transaction and that the funds are from a legitimate source. Whilst the authorities may not like the idea of cash transactions in this big brother society, that does not make it illegal.
 
Sounds plausible, that the seller wants to avoid having the funds tied up in a bank account..... but the real danger is that there is an issue with debts or title or vat with the boat, and the "suggested transaction" being conducted in the limelight will probably not disclose possible problems.

The simple fact is that the seller is appearing to take a hit on the sale to avoid something that could be worked around if he was willing to use imagination, he may not be aware of any issues , but this lack of awareness may stem from deliberate not checking or not checking through genuine ignorance of how to sell a boat,

I would run a mile from a seller of a deadmans boat who was trying to do anything even slightly out of the ordinary.

The solution maybe to use a Greek Lawyer (like these guys...https://www.vlamis.gr/yacht.management.greece.documents.php) to transact the sale with funds being handed over in cash if necessary, at their offices.

After that it is up to the lawyers whether they are happy to hand the cash to the seller.

I would bounce the seller into doing the best thing for you, if he is legit he will reluctantly go along with it, otherwise he will dig his heals in,,,, then you should walk......
 
Besonders said:
Vas, thanks for the input, where did you get the information that all transactions over €500 have to be via card and do you really think that applies to private individuals as well as businesses. I have undertaken copious research on the whole subject subject, prior to posting this thread and can find nothing that indicates what I am trying to do is illegal. A fact confirmed by the solicitors overseeing the sale. Unfortunately the solitors are advising on the sale and not the method to fund the sale other than ensuring the funds are paid to complete the transaction and that the funds are from a legitimate source. Whilst the authorities may not like the idea of cash transactions in this big brother society, that does not make it illegal.
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Various info flying left right and center. Cannot pinpoint or state something (never was in my interests anyway...)

Let me call my accountant tomorrow (I have to anyway!) and see what he says regarding private sales.

I'll probably post midday tomorrow.

cheers

V.
 
All this talk of dodgy dealing from people who's looking at it from a way we work and think here in England .
we talking a Greek here and they work in a very different way to us .
It may be just a case where he don't want his wife to know how much he got for the boat , or even he got a boat .

I agree the OP must take ever precautions to safe guard him self , but I wouldn't say there any thing dodgy going on .
Working with cash under the table is nothing new in Greece and it's been going on for hundreds of years and will carry on , most Med countries work in this way , yes we talking big numbers to most of us ,
.
Some years back in the 70s I was looking at buying a new house in Ireland the contractor offer it at a very good price but wanted cash , when I when to my solicitor back in London who was also Irish and ask his advise , he told me this was nothing unusual, contractor buy large lumps of land , build X amount and lost a few on the way , as long as all the paper work and deeds where in order I be mad not to buy it and pay the cash .
We did buy it and sold it a few years later . Nice little earner as Del Boy would say .
 
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