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Cyprus RightsThe Republic of Cyprus claims the whole island, and owes every right that claim implies to every Cypriot. Cyprus Rights documents where that duty goes unmet for Turkish Cypriots — with sources.

Public services · Banking

Opening a payment account

Report card / Public services / Banking

Living in the northObstructed40/100

The Central Bank of Cyprus stated by circular of 26 April 2023 that Turkish Cypriots holding Republic of Cyprus passports or identity cards are entitled to open a payment account with basic features, provided customer due diligence is satisfied. The European Commission's twenty-second Green Line report, covering 2025, records that Turkish Cypriots continued to report difficulties and that "a very limited number" have been able to open accounts. The same report names restrictions imposed by the Turkish Central Bank on Turkish banks cooperating with banks in the Republic as a further obstacle.123

Basis and sources

Legal anchor Directive 2014/92/EU (Payment Accounts Directive); Central Bank of Cyprus circular of 26 April 2023

Sources for this criterion

  1. 1. Central Bank of Cyprus circular letter to all credit institutions on access to payment accounts with basic features, 26 April 2023A — primary / documentary · Central Bank of Cyprus · 2023-04-26
  2. 2. Twentieth report on the implementation of Council Regulation (EC) No 866/2004, covering 1 January to 31 December 2023A — primary / documentary · European Commission · 2024-07-04
  3. 3. Twenty-second Green Line Regulation report, COM(2026) 324 final (covering 2025)A — primary / documentary · European Commission · 2026-06-30
Stated position of the duty-bearer — Original

The Central Bank circular of 26 April 2023 states the legal position and binds credit institutions; the Republic told the Commission it is "working towards the facilitation of opening bank accounts to Turkish Cypriot traders". Individual refusals are attributed to bank-level customer due diligence rather than policy.

— Republic of Cyprus, stated position as recorded in Cyprus Rights reference register

Status stalled / partially addressedWeight 3/5Score 40

Living in the southInsufficiently documentedInsufficiently documented — no score

No record, complaint or survey isolating the account access of Turkish Cypriots resident in the government-controlled areas has been located. The gap itself is the finding: whether this group can open and use payment accounts on the same terms as other residents is not documented.4

Basis and sources

Legal anchor Directive 2014/92/EU (Payment Accounts Directive)

Sources for this criterion

  1. 4. Turkish Cypriot Rights Issue Register and Legal Framework Register (Cyprus Rights reference corpus)D — open source · Cyprus Rights · 2026-08-24

Status undocumentedWeight 2/5Score Insufficiently documented — no score

Sources

  1. Central Bank of Cyprus circular letter to all credit institutions on access to payment accounts with basic features, 26 April 2023A — primary / documentaryCentral Bank of Cyprus · 2023-04-26A circular letter from the Central Bank of Cyprus to all credit institutions on access to payment accounts with basic features, dated 26 April 2023.Central Bank of Cyprus, circular letter of 26 April 2023 to all credit institutions, on the laws on comparability of fees, payment account switching and access to payment accounts with basic featureshttps://www.centralbank.cy/en/licensing-supervision/financial-conduct/directive-on-the-comparability-of-fees-related-to-payment-accounts-payment-account-switching-and-access-to-payment-accounts-with-basic-features
  2. Twentieth report on the implementation of Council Regulation (EC) No 866/2004, covering 1 January to 31 December 2023A — primary / documentaryEuropean Commission · 2024-07-04The European Commission's twentieth annual report on implementation of the Green Line Regulation, covering 2023.COM(2024) 265 final, Brussels, 4 July 2024https://commission.europa.eu/document/download/6d75c643-ca97-44ff-a2d0-7d452a729423_en?filename=COM_2024_265_1_EN_ACT_part1_v3_0.pdf
  3. Twenty-second Green Line Regulation report, COM(2026) 324 final (covering 2025)A — primary / documentaryEuropean Commission · 2026-06-30The European Commission's twenty-second annual report to the Council on implementation of the Green Line Regulation, COM(2026) 324 final.Twenty-second report on the implementation of Council Regulation (EC) No 866/2004, COM(2026) 324 final, 30 June 2026, covering 1 January-31 December 2025https://commission.europa.eu/document/download/7e0f3950-fcfa-49a1-913c-fe6ce245141f_en?filename=COM_2026_324_1_EN_ACT_part1_v4.pdf
  4. Turkish Cypriot Rights Issue Register and Legal Framework Register (Cyprus Rights reference corpus)D — open sourceCyprus Rights · 2026-08-24Cyprus Rights' own internal reference corpus of registers tracking Turkish Cypriot rights issues and the applicable legal framework.Cyprus Rights reference corpus, compiled 24 August 2026: internal/reference/rights-issue-register-turkish-cypriot.md and internal/reference/legal-framework-register.md. Cited for duty-bearer positions as the registers record them and for documentation-gap statements; each register entry carries its own underlying sources