Transferring money from one country to another?

Question

My friend has sold his house in Greece and has moved back to the UK. He has received a down payment and will receive the rest of the cash later. How can he get it sent over without incurring all sorts of taxes etc?

Answer 1

Can you use paypal accounts for that set up to the relative banks and currencies? Don't know what there exchange rate is but it is an immediate transfer. I have done it for business on ebay from countries outside of UK. Hey you never know.

Answer 2

He may be liable for capital gains Tax in Greece but I don't have the first clue about Greek Finance.

If he receives Euro's in cash he needs to pay them into a Euro Bank account somewhere in the Eurozone and then have the money wired to the UK (still in euro) to a euro based account.

He then needs to get a currency broker to buy the Euro from him and pay back in sterling.

I've used www.hifx.co.uk before and they are quite competative.(better than the banks any way)

He could take advice on if now is the right time to change it all back. Because the pound is weak at the moment he will do quite well.

The alternative is to take his cash to the local Post office where they will give him a crud rate of exchange and probably report him for suspicion of drug dealing.

Answer 3

Look at Western Union.

You deposit the money in one currency and withdraw in another.

They have various checks depending on the amount you're transferring to comply with money laundering regulations.

Answer 4

research properly within the internet. dont' stand a great chance of getting a credible answer through here, besides which, this isn't much of a defense if he tries a "method" found here and is in voliation of taxation laws!

Cheers

Answer 5

ask bin laden, he does it from america to afghanistan

Answer 6

go with PayPal ?

Answer 7

good question.