STERLING

Dancer


Joined: 11/05/2007
Posts: 35

Message Posted:
27/07/2007 20:46

Does anyone know if there any restrictions as to how much sterling you can take in to TRNC. We want to buy furniture for our new apt and have been advised that they prefer sterling, just don't know if there are any limitations.



Thanks



Dancer

dylansgranny


Joined: 28/12/2006
Posts: 67

Message Posted:
27/07/2007 22:22

You can get Sterling from HSBC ATM in Girne which is safer than bringing alot of cash out here otherwise the maximum is what the UK government have bought in cannot remember what you are allowed out of UK to non EU countries their web site will advise you.

davey


Joined: 28/06/2007
Posts: 22

Message Posted:
28/07/2007 01:14

Hi Dancer,

I dont know what the restrictions are regarding the amount of cash you can take over to TRNC, i bought a 3 bed villa in Esentepe, i had sent the bulk of my furniture for the place over in a shared container.

However when i and a friend went over recently (he purchased on Tatlisu), we both needed to pay out for various things snagging, other bits for my place and his, electricity connection,furnishings & blinds etc etc, i took over £5000, whilst my friend took just under £7000, we encountered no problems at all.

I wouldnt envisage any problems for you, and would advise of my experience to take what ever you feel confident enough to carry in hard cash.

I would like to add that had i needed to take more with me at the time i wouldnt have hesitated to do so, the remainder of the cash i had left i opened a high interest account which yields 14-20% annual interest.

Hope to have been of help.

Regards

Davey

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
28/07/2007 15:32

Take a look at the following link:-



http://www.hmrc.gov.uk/si/2007-1509-em.pdf



Peter

stevie-d



Joined: 13/07/2007
Posts: 1420

Message Posted:
28/07/2007 18:42

I took out £20,000, was stopped at Heathrow by Customs told them it was a deposit on property showed them my paperwork for the house and they said that`s fine and have a nice flight.

Dancer


Joined: 11/05/2007
Posts: 35

Message Posted:
28/07/2007 19:37

Thanks everyone for the information supplied, found it very useful.



My thoughts were that if we used cash we may be in a position to negotiate a better deal.



Regards

McSteviet



Joined: 11/05/2007
Posts: 1089

Message Posted:
29/07/2007 04:01

Stevie-d,



How did you get stopped going out of the country? Iv'e never heard of that before?



Mc

stevie-d



Joined: 13/07/2007
Posts: 1420

Message Posted:
29/07/2007 11:39

I had a money belt on security stopped me and they called Customs maybe they thought the money was illegal, but after explaning to Customs i was buying property they were quite happy.

stevie-d

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
29/07/2007 23:51

Hi Davey,

Interested in high interest account you mentioned. Have about 5k in local bank a balance which I maintain for emergencies would this qualify if I moved it.

Regards

p

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
31/07/2007 12:52

Hi

In a similar position and spoke to the guy in the above link at HMRC.

He says so long as you declare it at point of departure on duplicate form provided there is no problem.

Alternative is transfer it to a bank account in TRNC. I use garanti bank which gives up to 17% onn savings accounts depending on amount deposited.

BB