With online banking it is simple to transfer money to your Cyprus bank account however you may benefit from shopping around “foreign exchange” companies who may provide a, lower-cost alternative online transfer from the UK to Cyprus and vice versa.

As a member of the EU, bank to bank transfers are relatively straight forward. This includes transfers in Euro as well as foreign currency such as Sterling. If the transfer is above £3,000 banks in Cyprus will require information such as the source of the money being transferred and the ID of the person making the transfer.

Please remember that bank transfers of Sterling from the UK to a Cyprus Euro account will also include the cost of currency conversion.

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The Institute for Fiscal Studies (IFS) has released a review of the UK State Pension that calls for the ‘triple lock’ to be scrapped and replaced with what would effectively be a ‘double lock’. The ‘triple lock’ was introduced in April 2011. It allows the basic state...

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Help Desk

Do you need advice on matters relating to living, working or retiring in Cyprus?

Whether you already live on island or plan to move out to Cyprus, the Cyprus Residents Planning Group can help navigate you through the visa and residency permit procedures.