Every year the volume of funds transferred from Cyprus to the Russian Federation is only increasing. This is facilitated by the activities of international companies, for which the republic's lenient tax rates remain one of the most attractive in the EU. Also, the laws of Cyprus allow foreign citizens to keep their savings in the banks of the republic on favorable terms. But when withdrawing funds, the owner of the capital must remember some of the nuances of the financial laws of Cyprus.
It is necessary
- - details of the account in the bank of the state where you want to transfer money.
- - beneficiary's bank address
Instructions
Step 1
Choose the most convenient way to transfer funds. First: transferring cash to the recipient's current account. The holder of funds only needs to come to one of the banks in Cyprus and arrange a transfer service. It should be remembered that it is more economical to make transfers within one currency. If the holder of funds is asked to transfer the amount in euros to a ruble or dollar account, then the conversion will take place at the internal rate of the bank, which is almost always disadvantageous to the recipient. Another way to save money is to open an account with a bank in the Republic of Cyprus and make a transfer from it. In this case, the amount of the commission will be lower.
Step 2
Please note that the largest bank in the Republic of Cyprus, Bank of Cyprus, has four representative offices in Russia: in Moscow, St. Petersburg, Yekaterinburg and Samara. If the recipient has the opportunity to cash out at one of the representative offices, then an account with this bank should be opened, which will allow him to receive a preferential transfer commission rate.
Step 3
Find out the number of the bank account of the country in which the recipient is located in the event that the transfer through the representative office is not possible. In this case, residents of the Russian Federation are more convenient, since the Law on the Prohibition of Double Taxation is in force between the states, which allows the sender and recipient to pay a lower commission when transferring. The Republic of Cyprus carefully monitors all money transfers from the country, and also checks the legality of savings, so this operation can take from several days to 2 weeks.
Step 4
Contact the Bank of the Republic of Cyprus for the transfer, providing the recipient's account details and the address of the bank branch.
Step 5
Ask the bank employee for the transaction code that you need to remember. In the event of a prolongation, these data will provide information on the further fate of the transfer. It should be remembered that thanks to the economic cooperation between the Republic of Cyprus and the Russian Federation, financial transactions between the banks of these states occur without additional delays. As a rule, the minimum commission amount of the banks of the Republic of Cyprus does not exceed 1% of the amount.
