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ARTICLE · 20 APRIL 2015

Cyprus Banking Transactions Restrictions Abolished

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The President of the Republic of Cyprus announced on 3 April 2015 that the restrictive measures on movement of capital relating to transactions and transfers of funds abroad would be completely abolished...

CyprusFinance and Banking
Nancy Erotocritou
Nancy Erotocritou
Marios Koutsios
Marios Koutsios
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The Enforcement of Temporary Restrictive Measures on Transactions in case of Emergency Thirty-Fifth Decree of 2015 and the Enforcement of Temporary Restrictive Measures on Transactions of Foreign Banks in case of Emergency Twenty-Eighth Decree of 2015 expired on 6 April 2015.

The President of the Republic of Cyprus announced on 3 April 2015 that the restrictive measures on movement of capital relating to transactions and transfers of funds abroad would be completely abolished and as a result the decrees would not be renewed.

Funds are now freely transferrable both within Cyprus and abroad. 

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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