Application deadline extended: Partial compensation of the 2013 haircut on Cyprus banks’ deposits

In its announcement on 14/05/2024, the Cyprus Ministry of Finance informs of the reopening of the electronic service for submitting applications by affected natural and legal persons regarding their participation in the Replenishment Scheme of the National Solidarity Fund. Applications are accepted via the Ministry’s online service from 14 May 2024 until 25 May 2024.

It is pointed out that the affected Natural and Legal Persons should have the characteristics of a “private client” and their deposits and securities have been reduced during 2013 due to the implementation of consolidation measures in the two systemic Banks (Bank of Cyprus and Laiki Bank).

Please note that access to the electronic service for submitting an electronic Application for participation is made through the CY Login Profile as follows:
• For Natural Persons with a Cypriot identity card or residence permit in Cyprus (ARC) as well as Legal Persons with a registration number in Cyprus –> Registration and identification on the CY Login Government Portal (formerly Ariadne) is required.

• For Natural Persons who do not have a Cypriot identity card and are not residents of Cyprus as well as Legal Persons who do not have a registration number in Cyprus –> They are required to be registered on the Government Portal CY Login, and they will be identified when submitting their Application through the provision of certain additional items and documents.

Participation in the Replenishment Scheme of the National Solidarity Fund is done only via the submission of an electronic application and applicants are invited to submit their application no later than 25 May 2024, as the Ministry notes that it will not be possible to submit electronic applications after that date.

Our team is at your disposal for any support and guidance you might need regarding the Replenishment Scheme applications. Contact us here.