How much time is needed to liquidate an offshore bank account?

[AndrewT]

I know it’s very easy to open an offshore bank account in Cyprus. But how much time does it take to liquidate one? Is it equally easy?

 

[JohnLocke]

Actually, most often it doesn't take more than a phone call to the bank to make this happen, at least not with the banks in Cyprus.

 

[Kaseyallan]

Yeah the banks in Cyprus are more likely to take from 1 day to a week.

 

[lavel]

It takes between 1 and 3 weeks to get an account with the major banks in Cyprus. All depends on how fast your moving when required.

 

[riskprocessor]

Normally the liquidation of offshore bank accounts takes a couple of days to about a week. In some cases, it may even take 2 to 3 weeks. So, there is nothing that much to worry about it even if it takes a bit too longer.

 

[JohnLocke]

Agree with riskprocessor.. and as already mentioned, a phone call or fax or postal mail to the bank is all what is required to get the account closed.

 

[vitomerchant]

How much in days it take to open account please?

 

[stuntbiker]

How much in days it take to open account please?

It was used to be only 1 week now it takes months if you at all get approved. Thouse who where luckily enough to get a bank account there should do everything to keep it.

 

[offshoreoffice]

Why would you "liquidate" a offshore bank account? you can close it, just ask the bank to do and they do it.

 

[Rahul shetty]

i think it could take from 7 to 15 days depending upon the bank requirements. This is roughly estimate

 

[JohnLocke]

i think it could take from 7 to 15 days depending upon the bank requirements. This is roughly estimate

Second that it depends very much on how the workload is at the bank and if you provide all documents right away or if the Agent or Bank has to request documents on several occasions.