Foreign Accounts Tax Compliance Act (FATCA)

The Foreign Accounts Tax Compliance Act (FATCA), is a U.S. legislation designed to improve tax compliance by U.S. persons, both individuals and entities, who hold financial Assets and accounts outside the U.S.

Bank of Cyprus Public Ltd has registered its own financial institutions (reporting model I FFIs) with the U.S. Authorities, according to the provisions of the relevant Intergovernmental Agreement between Cyprus and the USA (IGA)..

With reference to the Agreement above, BOC must collect and verify appropriate client information and then report to Cyprus Tax Authorities who acts liaison for the communication of such information to the US Authorities.

Bank of Cyprus Public Ltd is registered under Model 1 IGA and its Global Intermediary Identification Number (GIIN) is M48NAV.00000.LE.196.

Bank of Cyprus Public Ltd is proactively implementing changes to its current business practices in order to comply with FATCA while best serving its clients and counterparties.

For further information on FATCA, you may visit the IRS website

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