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Cypriot Banks are Changing Attitude to Russian Clients
27.01.2019 09:31
Cypriot Banks are Changing Attitude to Russian Clients

Cypriot banks started to require information from  Russian clients on their sources of income received in the past. According to Bloomberg, about two such cases are already known.

      According to the agency, we are talking about the accounts of businessmen who have kept money on the island for more than 10 years. It is noted that entrepreneurs could not provide banks with documents on income received many years ago, so they had to close their accounts.

      According to the Central Bank of Cyprus, the cost of bank accounts owned by foreign clients outside the euro area, mainly Russian, fell to 7.1 billion euros at the end of November 2018. The peak was at the end of 2012, when the the value of such assets was estimated at 21.5 billion euros.

      Read More  about Russian Business


Author: Anna Dorozhkina

Tags: Russian business     

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