The Central Bank of Cyprus has issued the Thirty Third Decree of 2015 with further relaxation on banking transactions. The updated relaxations are as follows:
1. Payments and/or transfers of deposits/funds abroad do not require Central Bank approval (approval was required by the Central Bank for sums in excess of €2.000.000) given that the relevant justification documents are duly submitted to the credit institutions
2. The limit on the transfer of deposits/funds abroad without any justification requirements has been raised to €20.000 (previously €10.000)
3. The limit on the export of Euro notes and/or foreign currency notes abroad per physical person per trip has been raised to €10.000 (previously €6.000)
The decrees concerning foreign banks remain unchanged.