Those who have sold their property in Cyprus and wish to transfer the money to their home countries will be relieved to hear that Finance Ministry has doubled the monthly transfer limit.
The Cypriot authorities have eased the restrictions on capital movement imposed in April 2013 following the bailout crisis; individuals may now transfer up to €10,000 a month out of the country.
Earlier today the Island's second largest lender, the Marfin Popular Bank, announced a record full-year net loss of €2.5 billion, hit by a write-down on its Greek sovereign debt holdings.
Due Diligence
Due diligence is absolutely essential before committing to buy a property.
