Cyprus Further Eases Limits on Money Transfers Abroad

[alain]

In a further easing of restrictions on money transfers, Cyprus' Finance Ministry says it has raised the amount of money individuals can now take out of the country at any one time to 50,000 euros ($57,000).


The Finance Ministry announced the increase from the previous limit of 20,000 euros on Friday.


Cyprus imposed the restrictions amid concerns over bank runs when it required a bailout package in 2013 that hit its financial sector hard.


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The limits are being lifted gradually.


Last month, Cyprus scrapped a 2-million-euro limit on the amount of money businesses can take out of the country.


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[buzzoffshore]

Thank you Alain for sharing your information and this thread, good reading actually. I didn't faced any form of difficulty when I tried to transfer my money out of Cyprus, not even new money that I just received this year and transfered out of the bank! It may be the amount's I transfer to be too small don't know

 

[JohnSeed]

I got no requirements from the bank that it is like that. I don't even had problems when transfering large sums to another account outside of Cyprus??!

 

[alain]

I got no requirements from the bank that it is like that. I don't even had problems when transfering large sums to another account outside of Cyprus??!

That's also what I can confirm and a few of my business partners that opened an account with the major banks in Cyprus!

 

[fernadex]

Not bad 50k in cash you can't even bring that money with you crossing the boarders!

 

[JohnSeed]

It may be some old information or not correct at least!

 

[alain]

It may be some old information or not correct at least!

things have changed ever since.

 

[Sany zeth]

Now we can transfer 57k USD to any other country from Cyprus . Do i get it right?