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Updated: June 2026

Case study · Greece · Residence permit

How a Property Payment in Greece Was ProcessedThrough Serbia and Passed Compliance

When funds for a purchase do not flow directly but through a third country, the bank naturally asks: why this route and where do the funds originate at each step. Our client paid for property in Greece through a Serbian account, and this transit payment chain needed to be explained. The funds were legitimate; the route was explainable. Here is how we passed compliance.

Sergey EvdokimovSergey EvdokimovManaging Partner, BRIDGESReading time9 min readVerificationReviewed by an expert

This case is based on a real matter. The name and certain identifying details have been changed to protect confidentiality.

BRIDGES client story - How a Property Payment in Greece Was Processed Through Serbia and Passed Compliance
Contents

Case at a glance

Situation, solution and outcome in seven lines

Client
Investor with a Serbian bank account
Objective
Greece Residence Permit through real estate investment
Program
Greece, Golden Visa (residence permit through real estate investment, pathway to permanent residence and EU citizenship)
Challenge
Payment transits through a Serbian account
Requirements
Explain the payment route and fund source at each step
Solution
Transparent transit payment chain + source documentation file
Result
Compliance passed, residence permit obtained

Client story

Client Background

Where they started

The client conducted business through Serbian banking infrastructure: a significant portion of his transactions flowed through a Serbian account. When he decided to purchase property in Greece under the Golden Visa program, it was logical that the payment would also originate from there—through the Serbian account.

Why the standard route did not work

The complexity lies in the fact that for the Greek bank and compliance review, such a payment is a transit transaction: funds do not arrive directly from the country of capital origin but through a third jurisdiction. This is not prohibited, but it automatically raises questions: why this route, who stands behind the Serbian account, and where do the funds originate at each stage.

What BRIDGES had to solve

It is important to understand: the problem is not the transit through Serbia itself—legitimate transit payments are common in international business. The problem arises if the chain is not explained. Then the bank sees funds that arrived "from somewhere via Serbia" and closes the transaction. The route must be shown transparently, from source to recipient.

Why a standard answer would not do

At BRIDGES, the client came to structure the transit payment chain correctly: explain why the payment flows through Serbia, confirm the source of funds, and process the payment so that Greek bank compliance passes without delays.

My transactions go through a Serbian account, and from there I wanted to pay for property in Greece. I immediately felt the bank's tension: money transiting through a third country—explain the route. Sergey and his team structured the entire chain transparently: where the funds come from, why through Serbia, how they reach Greece. The bank's questions disappeared, the payment went through, and I obtained the residence permit. The money was clean—we simply needed to show the transit correctly rather than hope it would go unnoticed.

Alexander · InvestorThe name and certain identifying details have been changed to protect confidentiality.

What Was at Risk

What Was at Risk

The risk lay not in the legality of the funds but in the possibility of getting stuck in compliance due to an unexplained route. A transit payment through a third country receives stricter bank scrutiny than a direct transfer: an unclear chain reads as an attempt to conceal something. Most dangerous of all is hoping the transit will go "unnoticed"—it will certainly be noticed. The route must be fully disclosed in advance.

Why the payment flows in transit through Serbia rather than directly

  1. 01The source of funds at each stage of the chain
  2. 02Who stands behind the Serbian account and their connection to the applicant
  3. 03The legality of the transit route to the Greek recipient
  4. 04That without explanation, the bank will hold up the payment

The logic of the solution

How the matter progressed: from checks to result

The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.

  1. 01
    Stage 1

    We analyzed the actual money route. First, we detailed how the client's funds moved: where the source is, why payments go through Serbia, how the payment reaches Greece. Understanding the complete chain is a prerequisite for explaining it to the bank.

  2. 02
    Stage 2

    We confirmed the capital source. We compiled documents on the origin of the client's funds so that the first link in the chain—where the funds come from—was indisputable. Without this, the transit cannot be explained.

  3. 03
    Stage 3

    We explained the purpose of the Serbian account. We showed who owns the account and why it is in the chain: a legitimate part of the client's business infrastructure, not an incidental arrangement. The connection between the Serbian account and the applicant was disclosed.

  4. 04
    Stage 4

    We established a transparent transit payment chain. We structured the payment route so that it reads as a whole: source—Serbian account—Greek recipient, with documentary confirmation at each step. The transit ceased to be a "blind spot."

  5. 05
    Stage 5

    We coordinated the payment with the Greek bank. We provided the receiving bank in advance with an explanation of the chain and a dossier on the fund source so that the transit payment would not be held up in compliance review, and we processed the real estate payment.

Takeaway. Conclusion: transit payment is legal but subject to closer scrutiny. Success belongs to those who explain the entire route—source, purpose of transit, fund movement—not to those who hope the transit goes unnoticed.

How we solved the task

How we solved the task

The work was split into verifiable stages so that every conclusion rested on documents.

  1. 01

    Stage 1

    We analyzed the actual money route. First, we detailed how the client's funds moved: where the source is, why payments go through Serbia, how the payment reaches Greece. Understanding the complete chain is a prerequisite for explaining it to the bank.

  2. 02

    Stage 2

    We confirmed the capital source. We compiled documents on the origin of the client's funds so that the first link in the chain—where the funds come from—was indisputable. Without this, the transit cannot be explained.

  3. 03

    Stage 3

    We explained the purpose of the Serbian account. We showed who owns the account and why it is in the chain: a legitimate part of the client's business infrastructure, not an incidental arrangement. The connection between the Serbian account and the applicant was disclosed.

  4. 04

    Stage 4

    We established a transparent transit payment chain. We structured the payment route so that it reads as a whole: source—Serbian account—Greek recipient, with documentary confirmation at each step. The transit ceased to be a "blind spot."

  5. 05

    Stage 5

    We coordinated the payment with the Greek bank. We provided the receiving bank in advance with an explanation of the chain and a dossier on the fund source so that the transit payment would not be held up in compliance review, and we processed the real estate payment.

  6. 06

    Stage 6

    We achieved Residence Permit issuance. Based on a clean, transparently funded investment, the client received a Greek Residence Permit. The transit through Serbia, which could have delayed the matter, was disclosed and accepted without questions.

Expert comment

Transit payments frighten clients because banks are clearly more critical of them. And rightfully so: money moving through a third country must be checked more carefully than a direct transfer. But transit itself—for example, through Serbia—is absolutely legal and standard practice in international business. The problem starts when the chain is not explained and there is hope the bank will not look closely. It will always look closely, and an unexplained route will be read as an attempt to hide. I always work backwards—I disclose everything: here is the source of the funds, here is why payments go through the Serbian account, here is how the payment reaches the Greek seller. This client's funds were clean, the business was real—we only needed to transparently show the route. We did that, the bank had no questions, and he received his Residence Permit. With transit, the rule is simple: explain the entire chain, not hide it.

Sergey Evdokimov, Managing Partner, BRIDGESSergey EvdokimovManaging Partner, BRIDGES

Outcome

What the client received

What was required
How we did it · Result
Explain the transit
transparent payment route chain · payment purpose is clear to the bank
Fund source
origin documentation · legality confirmed
Process the payment
coordination with the Greek bank · payment without delays
Obtain status
clean investment · Greek Residence Permit
Obtain status
clean investment · Greek Residence Permit

What happened: the client was paying for real estate in Greece via transit through a Serbian account, and compliance required an explanation of the route and fund source. What we did: we analyzed the actual money route; confirmed the capital source; explained the purpose of the Serbian account; established a transparent transit payment chain; coordinated the payment with the Greek bank; achieved Residence Permit issuance. What the client received: passed compliance review and a Greek Residence Permit.

Practical takeaway

What matters in a similar situation

  • Conclusion: transit payment is legal but subject to closer scrutiny. Success belongs to those who explain the entire route—source, purpose of transit, fund movement—not to those who hope the transit goes unnoticed.
  • The client paid for real estate through Serbia and obtained status because we disclosed the transit chain transparently and confirmed the fund source at each step.

FAQ

Questions people ask in a similar situation

01Is it possible to pay for real estate in Greece through a third country?

Yes, transit payment is legal. However, the bank reviews it more closely than a direct transfer, so you must explain the route: fund source, purpose of the transit account, and fund movement to the recipient.

02Why does the bank become cautious with transit payments?

Because the funds do not flow directly from the country of capital origin, but through a third jurisdiction. Without explaining the transaction chain, this appears as an attempt to conceal something.

03How to pass compliance when making payments through Serbia?

Disclose the entire transaction chain: confirm the source of capital, explain the role of the Serbian account, and demonstrate the route to the Greek seller with documentation at each stage.

04Can one hope that the transit payment will go unnoticed?

No. Banks scrutinize transit payments with particular attention. The correct approach is to disclose the transaction route in advance rather than rely on it remaining undetected.

05What confirms the legitimacy of a transit payment?

A documentarily disclosed transaction chain from the capital source through the transit account to the recipient. Each link must be explained and verified for compliance purposes.

06Paying for real estate through a third country and concerned about compliance?

We will establish a transparent transit transaction chain—source of funds, purpose of the transit account, route to the seller—and coordinate the payment with the bank so that the transit does not delay your transaction and you obtain Greek residence permit.

About the author

Sergey Evdokimov

Author: Sergey Evdokimov

Managing Partner, BRIDGES

As Founder and Managing Partner of BRIDGES, I am responsible for the firm's strategy and personally lead its most complex client matters, including cases in which citizenship or residence decisions require a strategic view and consideration of capital.

I begin by defining the objective: the outcome the client needs, the facts that affect the choice, and the matters that require further review. I then establish the available directions, the sequence of work, and the key decision points.

Once the strategy has been agreed, I oversee the BRIDGES team's key decisions and remain involved at the stages that shape the course of the matter. The purpose is to give the client a clear rationale for the chosen direction and a precise understanding of the next steps.

Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.

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Dmitry NagyInternational Tax Consultant, BRIDGES
Dmitry Nagy, International Tax Consultant, BRIDGES

Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.