Ex-pats and money in Cyprus banks
Mar 26th 2013, 9:35 am
#61
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Re: Ex-pats and money in Cyprus banks
Mar 26th 2013, 6:12 pm
#62
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Re: Ex-pats and money in Cyprus banks
It seems the Russians found ways to get their money out regardless of supposed frozen accounts , the result is they are asking for more money already.
Mar 26th 2013, 7:38 pm
#63
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Re: Ex-pats and money in Cyprus banks
The EU and the Euro is such a load of bull****. I knew it wouldn't work from the start. And now that the silly idea is falling down around their ears they're turning to daylight robbery - largely because they can't admit what a stupid idea it is and what a pickle its all becoming and just fess up and deal with the implications. So they talk more official crap and pretend to know what they're doing when they are just stealing and bullying and failing to take responsibility and be accountable. They only reason they cooked up the idea in the first place was because they were being greedy.
Mar 27th 2013, 12:31 pm
#64
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Re: Ex-pats and money in Cyprus banks
In Britain my money was in Santander and before I came here 2 weeks ago I phoned Santander to let them know I would be using my Visa debit card in Cyprus. There's no Santander here so I take my money out at various ATMs/cashpoints here in Northern Cyprus. I know this sounds like a silly question, considering the distress others must be in, but is my money safe?
Mar 28th 2013, 8:11 am
#65
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Re: Ex-pats and money in Cyprus banks
Banks reopen today BUT:
Daily withdrawals limited to 300 euros
Cashing of cheques banned
Those travelling abroad can take no more than 1,000 euros out of the country
Payments and/ or transfers outside Cyprus via debit and or credit cards permitted up to 5,000 euros per month
Businesses able to carry out transactions up to 5,000 euros per day
Special committee to review commercial transactions between 5,000 and 200,000 euros and approve all those over 200,000 euros on a case-by-case basis
No termination of fixed-term deposit accounts before maturity
Daily withdrawals limited to 300 euros
Cashing of cheques banned
Those travelling abroad can take no more than 1,000 euros out of the country
Payments and/ or transfers outside Cyprus via debit and or credit cards permitted up to 5,000 euros per month
Businesses able to carry out transactions up to 5,000 euros per day
Special committee to review commercial transactions between 5,000 and 200,000 euros and approve all those over 200,000 euros on a case-by-case basis
No termination of fixed-term deposit accounts before maturity
Mar 28th 2013, 8:55 am
#66
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Re: Ex-pats and money in Cyprus banks
What are the going to do about any prospective expats that just transferred funds out to Cyprus to pay for a property purchase, and are now going to find themselves short of the amount due ....... because of a tax made on them by a country they haven't yet lived in
Mar 28th 2013, 9:21 am
#67
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Re: Ex-pats and money in Cyprus banks
Most such transactions are done via Lawyers client accounts and we were speaking to our lawyer about the situation and they tell us that lawyers client accounts will not be touched.
Mar 28th 2013, 6:42 pm
#68
No really, it doesn't
Joined: Sep 2007
Location: Rural Nova Scotia
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Re: Ex-pats and money in Cyprus banks
Best Quote I have seen on the crisis so far
there's - to a fairly fine level of precision - zero evidence that the people in charge know what they're doing
Blog quoted on BBC
there's - to a fairly fine level of precision - zero evidence that the people in charge know what they're doing
Blog quoted on BBC
Mar 28th 2013, 9:44 pm
#69
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Posts: 11
Re: Ex-pats and money in Cyprus banks
Think of it like this , if you are wealthy enough not to bother then carry on , however you and others like you are likely to be seen as a potential source of income for the govt , they will find as many ways as possible to tax you in some way in the years to come as the alternative sources of income they had become used to have dried up.
Mar 29th 2013, 8:10 am
#70
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Re: Ex-pats and money in Cyprus banks
We have also heard this morning that one developer who was targeting the Chinese market had 3 million in a Laiki account which chinese had paid for houses and that is gone.
I foresee some big trouble ahead
Mar 29th 2013, 10:20 am
#71
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Re: Ex-pats and money in Cyprus banks
It now seems that lawyers client accounts are being targeted after all. The lawyers have to make up the losses of the clients.
We have also heard this morning that one developer who was targeting the Chinese market had 3 million in a Laiki account which chinese had paid for houses and that is gone.
I foresee some big trouble ahead
We have also heard this morning that one developer who was targeting the Chinese market had 3 million in a Laiki account which chinese had paid for houses and that is gone.
I foresee some big trouble ahead
Mar 29th 2013, 12:35 pm
#73
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Location: San Francisco Bay Area
Posts: 10,678
Re: Ex-pats and money in Cyprus banks
It now seems that lawyers client accounts are being targeted after all. The lawyers have to make up the losses of the clients.
We have also heard this morning that one developer who was targeting the Chinese market had 3 million in a Laiki account which chinese had paid for houses and that is gone.
I foresee some big trouble ahead
We have also heard this morning that one developer who was targeting the Chinese market had 3 million in a Laiki account which chinese had paid for houses and that is gone.
I foresee some big trouble ahead
If a Foreigner was purchasing a home in the US, he could keep his/her money in a foreign account and setup a wire transfer for the day of the closing.
Mar 29th 2013, 1:11 pm
#74
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Re: Ex-pats and money in Cyprus banks
Doesn't the transaction occur immediately during closing? In the US, the money (except a small good faith deposit) is held in the buyer's account until the day of closing and then it is wired to the title company which then quickly deposits the money into different accounts based on who is owed what. On the day of the closing, the title is transferred.
If a Foreigner was purchasing a home in the US, he could keep his/her money in a foreign account and setup a wire transfer for the day of the closing.
If a Foreigner was purchasing a home in the US, he could keep his/her money in a foreign account and setup a wire transfer for the day of the closing.
Mar 29th 2013, 1:25 pm
#75
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Location: San Francisco Bay Area
Posts: 10,678
Re: Ex-pats and money in Cyprus banks
So it sounds like the lawyer is in big problems. He got the money but didn't transfer it and he likely didn't record the title change. The only winner is the seller since he still has the home.
