Many customers of Bank of Cyprus began to receive notifications from the credit institution regarding account closure. At the same time, two months are given for the implementation of this procedure, informs Job FM with reference to financial analysts.
Notifications are faced by tax residents of Russia, citizens with income from sanction business in the Russian Federation, as well as persons who have obtained a residence permit (permit) in connection with the purchase of real estate in Cyprus. However, it is noted that Russians in the republic on a tourist visa also received similar signals.
“At Bank of Cyprus, people whose surnames start with -s have been closing their accounts for a long time, the trend is going up. The Cypriot president regularly meets with the US ambassador, who certainly does not say anything in favor of the Russians. If you do not have a residence permit in Cyprus or Europe, they will close it immediately, if you have a residence permit and you receive income or transfer from Russia, they will most likely close it as well, ”the portfolio manager said.
According to him, such a situation can be avoided if a Russian citizen has his own business in Cyprus. You must also provide up-to-date data to the bank manager supervising the account, including the current address of residence in the republic. Oleg Abelev, head of Ricom-Trust’s analytics department, warned that a similar scenario could begin in other countries, with Russian bank accounts being closed.
“Accounts are examined by the Cypriot banks and their origin is taken into account: what type of accounts they are, what legal entities and persons they are associated with. If this is a conditional Russian company with Russian jurisdiction, and then we go to Cypriot legal entities that have accounts in Cypriot banks by disclosing the beneficiary of the property, then such accounts may well fall under these restrictions,” Abelev concluded.
April 14 Forbes magazine reportedEmirates NBD, one of the largest banks in the United Arab Emirates (UAE), will begin to transfer the assets of Russian citizens to separate accounts, from which all payments to their securities will be deducted. Letters about this began to receive Russian customers of the credit institution.