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Turkish Bank or Northern Cyprus bank

No real experience, but I've walked to EuroDeniz office, and kept walking. Many of these IBUs are bucket shops and look the part. Then again, if you need to do something that is too difficult to do elsewhere, why not? Just recognize what you are dealing with.

If you are an EU citizen, just take a flight to Larnaca, then a Kapnos shuttle bus to Nicosia, and walk to the North via Ledra st. crossing point. EuroDeniz, Fortressbank etc. are not far away. You could cover several IBUs in one day.
 
it is very difficult nowdays to open a bank acount to all these " Northern Cyprus " banks especially in Nicosia, they all require a residency and / or a northern cyprus company . Now who on earth wants to spend time to get rejected by some "banks" operating in an unrecognized territory , it s a mystery to me or the nerve of the local Turks who are rejecting clients thinking they are UBS in Zurich, if somebody is so desperate for banking what next , maybe try Trasnistria ? :p
 
Only Turkey recognizes Northern Cyprus. Hence, even if N.C. wanted to join AEOI, CRS or other treaty, they wouldn't be able to. They are isolated, so their main benefit is privacy. Some years ago many of these IBUs were forced to close due to money laundering. Nowadays they adhere to KYC & AML at least outwardly.

I would use Northern Cyprus IBUs only if I was a fugitive, or wanted to buy N.C. real estate with dirty money. These accounts and companies are inferior compared to standard offshore stuff.
 
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