goggles

If your savings are based in Cyprus itself you will get taxed, if in a UK branch you are safe

As an addendum you will recall I noted they will ask for more money , today they are asking for another Six billion , why ? Because its likely money left when it should not have been possible .

goggles

http://blogs.telegraph.co.uk/finance...gold-reserves/

zygiman

Daily cash withdrawals remain at €300. All business transactions in Cyprus under €300,000 do not now need approval. Transactions outside Cyprus lifted from €5,000 to €20,000.

EMR

Another 6 million euros needed to fill hole in finances. Up to E2000 can now be taken out of the country in cash.
Looks like more taxes on the wealthy and a deepening reccession to follow.

EMR

Correction 6 BILLION euros

zygiman

Eurogroup approves Cyprus bailout.

ChristineBiz

Can anyone give me a list of non-Cypriot banks in Cyprus? For example, are there any U.S. banks there? U.K.? I know Barclays is there but not sure of any others.

zygiman

We are probably not allowed to say, as that may be classed as advertising. The moderator will have to rule on that one.

Steps74

What's happens to overseas investors who has over €100,000euros. I presume the first €100,000 is protected what happens to the rest?

EMR

I would check that Barclays Cyprus is not just a local bank. almost a local franchise. They do operate this way in other European companies.

zygiman

Individuals may now transfer up to €3,000 between domestic banks per month.

Companies may now transfer up to €50,000 domestically per month.

Individuals may transfer up to €300,000 domestically from one bank to another, but not to another bank account of the same person.

zygiman

Looking like they will be getting a haircut between 40%-60%. Still waiting for the details.

ChristineBiz

Yes, you are right on this. Found that out with quick call.

Trying to find non-Cypriot banks but am having a hard time finding that info.

ChristineBiz

Can't understand how/why that would be classified as "advertising"? We are on an ex-pat board talking about banks and the Cyprus disaster. Surely, this is where we come for help/assistance/info from fellow ex-pats? Again, can't see how requesting info on non-Cypriot banks constitutes advertising, but if the moderator reads this, perhaps he/she could clarify? Thanks.

zygiman

There are many banks that have foreign parents in Cyprus. There are however no UK high street banks operating in Cyprus the way they do in the UK, as far as i know.

The most common banks operating in Cyprus that are not 100% Cypriot owned are from Greece. These banks operate a full service like the Cypriot banks. There are some others too, but not UK High street banks.

Is this the information you are seeking?