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Is Cyprus offshore banking coming to an end?

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Nov 13, 2017
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It seems that USA have been exerting their influence on numerous EU countries and after Latvia Cyprus might be next to restrict bank accounts for offshore corporations especially those with Russian beneficiaries.


Can anyone give more detailed input on this issue?
 
It seems that USA have been exerting their influence on numerous EU countries and after Latvia Cyprus might be next to restrict bank accounts for offshore corporations especially those with Russian beneficiaries.


Can anyone give more detailed input on this issue?

I have heared the same a lot of times last two weeks
but for now, there are no official information about it
 
It seems that USA have been exerting their influence on numerous EU countries and after Latvia Cyprus might be next to restrict bank accounts for offshore corporations especially those with Russian beneficiaries.


Can anyone give more detailed input on this issue?


I could confirm that Cyprus banks pushed east Europe beneficiaries more tight compared to other one clients(I know few people with personal or corporate accounts affected).
Officially it was closed a lot of account in the last couple of years(but all of this closures was based on own bank's decisions).
Now, probably, *all*(or almost all) accounts will take a hit.
The same I watched with Latvian banks: first banks closed some accounts of users without explanation, then they are close their branches in countries like Russia, etc. Then they are stops working at all with business from east Europe.
 
It sounds like it, I'd take it from what I've read on this thread that they will be triple checking and possibly closing either now or the near future any bank account connected to an offshore entity of a country such as Seychelles or Belize. I don't think they'd do the same for a formation that's USA based but I could be wrong.
actually, I've heared a lot about it from my East European clients and Latvia was a wash machine for Russians mostly
maybe, this all connected with sanctions against Russian Federation
 
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