CRS-Reporting in Northern Cyprus?

[Blue elephant]

Would like to open a private account in Northern Cyprus TRNC. Have read that the Turkish part of Cyprus does not participate in CRS reporting. Is this true? Anybody got a bank recommendation? Thanks

 

[luta]

They can’t participate in CRS as i know.
I would try Turkish banks instead of banks in Northern Cyprus TRNC.

 

[CaLViN]

They can’t participate in CRS as i know.
I would try Turkish banks instead of banks in Northern Cyprus TRNC.

But Turkish banks participate in CRS .

 

[lavel]

How do you think they will enforce CRS in Turkey? Like any European country does or are they less strict?

 

[ivan1911]

Is it possible to open account remotely in TRNC , anyone has experience ? Perhaps with lawyer and poa ?

 

[Plavivoz]

Is it possible to open account remotely in TRNC , anyone has experience ? Perhaps with lawyer and poa ?

This is possible but doesnt seem to be one of the cheapest places for remote opening.

 

[OffMyBack]

Wherever you send your money you will get crucified by the receiving bank should you even able to get money into the north cyprus

https://www.regxsa.com/aml-updates/aml-news/breakaway-north-cyprus-cause-of-money-laundering-concern-ussd/

 

[Plavivoz]

Wherever you send your money you will get crucified by the receiving bank should you even able to get money into the north cyprus

https://www.regxsa.com/aml-updates/aml-news/breakaway-north-cyprus-cause-of-money-laundering-concern-ussd/

It is always the same direct transfers might be problematic.
Indirect transfers work.
Especially in the case of northern cyprus it is easy to hide the origin in northern cyprus.

But i would not want to store there any money because of other reasons. As a pass through bank account it is ok.

 

[rey skywalker]

i use ziraat bank and eurodeniz no problem at all , but you have to go there to open accout in ziraat, eurodeniz open also remotly but sometimes banks refusre send money if t you mention trnc just metion turkey

 

[Walter Rowe]

Hey Rey,
I have had no luck with Euro Deniz. My latest attempt to transfer money out of them has now been 4 weeks with multiple emails from myself to get the funds out.
They have replied that they will see why there has been a delay.. that's almost 2 weeks ago.
Sadly .. they have been very poor in actually releasing the money.
For that reason, I would not recommend them

 

[rey skywalker]

thanks can you give me your accont nr ? i start get worried as well . i suggest you try ziraat bank in nicosia they are very good , i did have 1 issue with eurodeniz but problem was with corresspondent bank, we send funds to payserera but money was lost 2 mounths , was not muck but was annoyig

 

[LondonOTC]

Forget about Banks, the only place to save your money is Crypto

 

[cyprusbanker]

Forget about Banks, the only place to save your money is Crypto

Good idea which stable coin would you suggest?

i use ziraat bank

for how long have you gold an account there?

 

[rey skywalker]

i have account in ziraat at least 4 years, but now onshore banks is not easy to open, and you cannot travel to cyprus is the biggest problem, offshore banks still open accouts , the best is allied turkish bank ibu , but not easy to open with them only investemnet actiitievies