Originally Posted by EddyTheDog

Why would they choose to do it the hard way - Before this there was no reason not to have an account.

I have a Spanish and a New Zealand account to pay local bills etc, it would be hard to do it any other way.

Not everyone with a foreign account is doing it to avoid taxes.

I understand if you have little sympathy for tax evaders, but that's far from the only reason to hold a Cypriot account.