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?
How much time is needed to liquidate an offshore bank account?
- Thread starter AndrewT
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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.
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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.
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.
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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.
Why would you "liquidate" a offshore bank account? you can close it, just ask the bank to do and they do it.
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.
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