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Terms of temporary restrictions on bank transfers in Cyprus

After the known events, In Cyprus, temporary restrictions were imposed on the transfers of funds.

These include:
1. Any transfers between the Cypriot banks under the amount up to 15000 EUR per month from individuals are executed immediately.
2. Any transfers between the Cypriot banks under the amount up to 75000 EUR per month from legal entities are executed immediately.
3. All other transfers between Cypriot banks can be executed only if the transfers relate to normal business, and coincided with the documents.
4. Any transfers abroad of Cyprus under the amount up to 5000 EUR per month from individuals or legal entities are executed immediately.
5. Any transfers abroad of Cyprus under the amount up to 500000 EUR (or the equivalent in another currency) per month from individuals or legal entities are executed only if the transfers relate to a normal business and coincided with the documents.
6. Individual transfers abroad Cyprus between 500001 EUR to 1000000 EUR (or its equivalent in another currency) must be executed within 24 hours after the approval of the Central Bank of Cyprus.
7. Any transfers abroad Cyprus over 1000000 EUR must be approved by the Central Bank of Cyprus individually.