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Cyprus Banks are they safe with the problems in Greece?


Offshore Agent
May 15, 2010
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I'm wondering if it is still safe to open a bank account in Cyprus now while they have all the troubles in Greece ?

What I read on some websites is that they claim that Cyprus banks have huge troubles due to the problems well known by all, which makes me thinking if it is the right place to open a offshore bank account, hope to get some info here... thanks.
All banks in Cyprus are different companies and regulated by the Central Bank of Cyprus, they are safe don't worry about that.

They are also independent from the other companies within the same banking group means they don't get hurt with whatever there may happend in Greece.
So it means even if lets say Piraeus Bank will go down in Greece then it will still be safe to have your money in Cyprus with the same bank ? Sounds pretty interesting, thanks for the speedy reply :)
As far as I know no bank in Cyprus has filed bankruptcy!! Since we are almost over the worst I believe it stay so, there will be people sceptical of course thus we advice to use of of the stable World banks like HSBC or Deutsche Bank even if they will not fulfill mosts requirement!

A courtesy note, check all banks public fiscal reports which are/will be published soon.
Never heard of such cases other than if clients or customers of the bank in question in general have had some business activity which wasn't allowed or if they failed to proof the KYC documents to be true copies.

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