Central Bank Authorisation

Questions about selling property
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Joined: 20 Mar 2018 23:18

Central Bank Authorisation

Post by timvea »

I have sold an apartment with completion yesterday. My solicitor tells me she now has to get approval from the Central Bank of Cyprus to release the funds to me.

Do all sales have to be approved and if so, how long does the process generally take?
Nigel Howarth
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Re: Central Bank Authorisation

Post by Nigel Howarth »

Hi timvea and welcome to the forum

I have heard of this process from a number of people. It takes a few weeks for the CB to authorise.

A tip - If you're taking the money out of the country use a currency transfer company as the banks charge like wounded bulls (as an Australian friend of mine would say.)

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Re: Central Bank Authorisation

Post by Pantheman »

This is news to me. I have never had this issue with any sales we have made..

Unless you money is being sent to some country considered to be dodgy!!!! (no offence intended).
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