The Republic of Cyprus today issued its latest decrees regarding
the relaxation of banking restrictions, including this
development: Transfers of deposits/funds abroad up to
€1.000.000 per month (previously €50.000) are freely
permitted;
The provisions regarding the branches and subsidiaries of
foreign banks remain unchanged.
The decrees are valid until 6 April 2015. Further details are
below.
Enforcement of Restrictive Measures on Transactions in case of
Emergency Law of 2013 - Decree No 35
The Republic of Cyprus through its Minister of Finance published
its 35th decree as per articles 4 and 5 of the Enforcement of
Restrictive Measures on Transactions in case of Emergency Law of
2013 on Monday, 16 March 2015 (the
"Decree"). The Decree is in force until
6 April 2015.
