The End of Cyprus Bank Accounts

[Alex4Days]

Central Bank tells banks to ditch shell companies

The Central Bank of Cyprus is tightening rules against money laundering by asking supervised banks to avoid business with “shell and letterbox companies”.

Central Bank tells banks to ditch shell companies - Cyprus Mail


The end has come... Anyone with accounts there? What are you going to do now?

 

[ultrarekt]

..Not have shell companies?

 

[JohnLocke]

Have Cyprus companies with nominees if required. Also Holding companies are so far still permitted so don't worry there is always a way 😉

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[MrTony]

Admin said:
Have Cyprus companies with nominees if required.
Click to expand...

How Cyprus banks attitude to nominee directors and shareholders? Will we have problems with account opening if we will use nominees?

 

[Martin Everson]

Cyprus is just cleaning house after pressure from FBI. The same pressure from U.S that caused Latvia to clean up its banking sector. Too many Cyprus Russian banking scandals and if they find a smoking gun some banks will disappear like ABLV in Latvia did and the pressure on Rietumu Bank...lol

Cyprus is at the center of a circle of corruption surrounding Trump | Commentary | Dallas News
FBI investigates Russian-linked Cyprus bank accused of money laundering

Just expect what happened to banks in Latvia with the financial rape of customers to perhaps be repeated in Cyprus. Cyprus has no issues with performing bail-in's btw ;-). DO NOT take a wait and see approach, move your money now and ask questions later when dust has cleared.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.