
Bank of Cyprus this week has allegedly begun informing clients who are citizens of the Russian Federation that their accounts will close, according to the Russian-language edition of Forbes, which cites the company Main Partner Trust as its source.
According to the latter’s director, Aljona Sakharova, the island republic’s largest bank has sent letters to specific clients, informing them that their bank accounts will be closed in roughly two months from the moment they receive a specific notification.
The reasoning ostensibly cited by the bank is that their personal information does not correspond with its regulations.
Main Partner Trust claims that one of the reasons for the action against Russian citizens-cum depositors may be the tax regime for a resident of Russia.
Another reason may be the existence of income from business activity in Russia that is subject to western sanctions.


Latest News

Conference Tourism in Greece Targets €6-7BLN
Currently, the Greek conference tourism generates €2 billion in revenue, ranking 47th globally in terms of total turnover in the international conference industry

Greece 2nd Last in Employment Prospects in EU: ManpowerGroup Report
Contrary to the global average, Greece’s employment prospects are strongest in the consumer goods and services sector

Greece Returns to Markets Reopening 15- and 30-Year Bonds
Pricing of the new bonds is expected to be finalized today, March 13, with settlement anticipated on March 20

Research in Greece : Wasted Talent, Missed Opportunities
The symposium made one thing clear: Greece possesses the intellectual capital to compete globally, but without decisive policy reforms, its research potential will continue to be squandered.

Greek Education Ministry to Launch Free Audiobook App eVivlio
The eVivlio app offers free access to audiobooks by Greek and international authors, narrated by well-known actors.

Greece Emerges as a Top Destination for Luxury Real Estate
Greece’s appeal is driven by its competitive pricing compared to other luxury markets, such as the French and Italian Rivieras.

Greek Trade Deficit at €2.8 Billion in January: ELSTAT
The Greek trade deficit amounted to €2.8 billion in January, according to data from the Hellenic Statistical Authority (ELSTAT).

How to Buy Your First Home Tax Free In Greece
Greece's tax authority has compiled a guide addressing the most common questions regarding the transfer tax exemption for first-time home purchases.

Greece’s Inflation Eases to 2.5% in February, but Key Costs Still Soar
The data shows significant price increases in certain sectors, with hotels seeing a rise of 17.5%, air travel prices going up by 10.8%, rent rising by 9.9%, and health insurance premiums climbing by 7%.

Greek Tourism Booms with 6-7% Rise in Bookings This Season
Data from ITB Berlin highlights Crete and Rhodes as the top-performing destinations, maintaining their strong appeal among European travelers with double-digit booking increases.