Dear Sir/Madam,
CIF: -//--
Pursuant to the Law on Administrative Cooperation in the Field of Taxation (Law 205(I)/2012), as this is amended from time to time (the "Law"), implementing the European Directive on Administrative Cooperation - DAC 2, and also in accordance with the Common Reporting Standard ("CRS") as formulated by the Organisation for Economic Co-operation and Development ("OECD") for the automatic exchange of financial account information among participating jurisdictions, all financial institutions in Cyprus including Bank of Cyprus Public Company Ltd (the "Bank"), are required to identify account holders who are Reportable Persons, i.e., tax residents in jurisdictions with which the Republic of Cyprus automatically exchanges financial account information, and submit all related information to the Cyprus Tax Department which will in turn submit this information to the respective Tax Authorities of such jurisdictions.
Based on the information held by the Bank in relation to your account(s), and in accordance with this letter, we wish to inform you that the below information is collected and transmitted for the purposes of compliance with the Law:
1. Name
2. Client's Code
3. Address
4. Date and Place of Birth
5. Country of Tax Residence
6. Tax Identification Number
7. Account number/s
8. Currency of account(s)
9. Balance of account/s
10. Custodial accounts: Gross income
It is noted that the aforementioned information is collected and transmitted even in cases where such information has already been transmitted in previous years and your accounts either have a zero balance or were closed within the reference year.
If you are not considered to be a Reportable Person under the Law, you must inform the Bank immediately of any change in the aforementioned data being kept by the Bank. You are also informed that you have the right of access and rectification of such data within 30 days of the date of this letter. For this purpose, as well as for any questions regarding this letter, please contact your personal -//-- It should be noted that the letter will be considered to have been duly received by you, four (4) days after its posting by the Bank.
For further information regarding DAC 2 and the CRS you may access the websites of the Bank at www.bankofcyprus.com, the Association of Cyprus Banks at www.acb.com.cy, the Cyprus Tax Department at http://www.mof.gov.cy, the OECD at http://www.oecd.org/ctp/exchange-of-tax-information/automatic-exchange-of-financial-account-information.htm and the European Commission at http://ec.europa.eu/taxation_customs/taxation/tax_cooperation/mutual_assistance/direct_tax_directive/index_en.htm .
Thank you for your cooperation.
Sincerely,
Bank of Cyprus Public Company Ltd