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Cyprus Eastern Forum Index » Legal Questions & Issues » Closing a deceased person's bank account.
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Closing a deceased person's bank account. 
Post: #1   PostPosted: Thu Oct 11, 2018 7:45 pm Reply with quote
aquacalm
Joined: 12 Mar 2015
Posts: 10
Pictures: 0
Location: Kapparis

 
Hello everyone,

I'm the Executor in my Late father in law's Estate. He was a UK citizen and resident, and has a bank account in Cyprus which I need to close. The account does not require Probate, but I need to apply to a Cyprus court in order to nominate someone to close the account. I believe that I can nominate myself, in which case I would be very grateful if anyone could shed any light on how this can be done, if it can all be done from the UK, what the likely costs are, and if it would be better to ask a solicitor to act for me instead.

The account is more or less dormant, only interest and defence tax are active, and there is no particular rush to close the account.

Thoughts and suggestions would be most welcome, many thanks in advance.

Cheers!
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Post: #2   PostPosted: Thu Oct 11, 2018 8:08 pm Reply with quote
bubblechris
Joined: 27 Mar 2009
Posts: 4871
Pictures: 0
Location: Waltham Abbey, Essex E9

 
dupl post


Last edited by bubblechris on Fri Oct 12, 2018 1:11 pm; edited 1 time in total
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Post: #3   PostPosted: Thu Oct 11, 2018 8:10 pm Reply with quote
bubblechris
Joined: 27 Mar 2009
Posts: 4871
Pictures: 0
Location: Waltham Abbey, Essex E9

 
If the amount in the account is minor then just let it waste away. Not worth the hastle. If it's not too large you could speak to the Bank and ask them what needs doing. I recall my brother in law got the help of the Mayor who confirmed the facts and the Bank accepted this.

Ok there was a will but was it registered in Cyprus? There could be complications if it wasn't.
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Post: #4   PostPosted: Fri Oct 12, 2018 9:14 am Reply with quote
aquacalm
Joined: 12 Mar 2015
Posts: 10
Pictures: 0
Location: Kapparis

 
The UK will isn't registered in Cyprus, the amount isn't large enough for Probate, but too large to allow to just fritter away. The bank have advised me to apply to a Cyprus court to have someone nominated to act in the closing of the account, just need any info on how to proceed and likely costs with or without a solicitors assistance. Also if this needs to be done within a given timescale.

Thanks again.
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Post: #5   PostPosted: Fri Oct 12, 2018 1:17 pm Reply with quote
bubblechris
Joined: 27 Mar 2009
Posts: 4871
Pictures: 0
Location: Waltham Abbey, Essex E9

 
aquacalm wrote:
The UK will isn't registered in Cyprus, the amount isn't large enough for Probate, but too large to allow to just fritter away. The bank have advised me to apply to a Cyprus court to have someone nominated to act in the closing of the account, just need any info on how to proceed and likely costs with or without a solicitors assistance. Also if this needs to be done within a given timescale.

Thanks again.


A past mayor of Paralimni has an insurance office opposite the Electricity Auth offices on the one way system. I would seriously recommend you speak to him and ask his advice. He knows all the tricks, is extremely helpful,speaks excellent English and charges are very reasonable.

His number if you are interested is 99621979 and he could be a very useful contact to have.
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Post: #6   PostPosted: Thu Oct 18, 2018 1:03 pm Reply with quote
aquacalm
Joined: 12 Mar 2015
Posts: 10
Pictures: 0
Location: Kapparis

 
Thanks very much for the above information, I will consider the options and sort this out in due course, thanks again.
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Post: #7   PostPosted: Mon Oct 22, 2018 1:02 pm Reply with quote
scottie
Joined: 01 Feb 2012
Posts: 7319
Pictures: 0
Location: kapparis

 
As my nephew is in the process of doing exactly as you are regarding my brother in laws estate , I was waiting for the answer he would receive regarding this question before posting, hence the delay
He has been told to take all relevant papers to a BOC in the UK and it can be sorted out from that end .
Hope this helps 😊
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Post: #8   PostPosted: Mon Oct 22, 2018 6:57 pm Reply with quote
aquacalm
Joined: 12 Mar 2015
Posts: 10
Pictures: 0
Location: Kapparis

 
Thanks very much, I think this would be the best approach for me as I'm now in the UK, I will contact the Bank of Cyprus here in the UK and see what they say. I have all of the documents required here including Grant of Probate which suffices for everything so far as English law is concerned, so fingers crossed! I will post the results in case this can assist others in the future if needed. Thanks again.
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Closing a deceased person's bank account. 
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