Bank Guarantee Procedure

I think you must have a bank account ... And the guarantee is from that bank as a client of theirs. The Guarantee is an undertaking by that bank to pay in the event of a condition occuring within that guarantee. So the bank must be in possession of the required guarantee amount

So my guess is you must go to your bank....  Phone email or call your bank for an appointment

Thank you so much Toon

Are you sure that value is correct... I was under the impression the bank guarantee was for repatriation and 850 wouldn't cover that .. but happy to be corrected.....  OR maybe its for something else

@Toon I will check with Gwenny red tape again .

Please do ...maybe your mandatory comprehensive healthcare  insurance cover covers repatriation costs to a reasonable level.... If it's not for that what is it for... 

@Toon Gwenny Red Tape services said that I needed to get bank guarantees. We got bank guarantees for three of us (myself, wife and mother-in-law) for 850 euros each. The total cost in Hellenic bank was around 2900 euros including commission and the procedure took like 30 minutes as I needed to sign a bunch of bank docs.

But what was it for ...? What is the purpose of the bank guarantee...

@Toon It is for deportation expenses.

http://www.moi.gov.cy/moi/crmd/crmd.nsf … A6003F8C86

http://www.moi.gov.cy/moi/crmd/crmd.nsf … A6003F9C9D

SUBMISSION OF BANK GUARANTEE

To submit an application for an entry / residence permit for a third country national, the submission of an original bank guarantee (hereinafter "guarantee") may be required.

The guarantee is submitted in order to cover the deportation expenses, if such a deportation is necessary due to the fact that the third country national is a prohibited immigrant.

The guarantee can be made at a commercial bank or cooperative institution and it is, in principle, a personal. There are some exceptions, such as students, where the guarantee may be a group guarantee.

To find out whether the submission of a guarantee is required and whether there is a possibility of submitting group guarantee, please consult the list of the documents that must accompany the application, according to the category of residence you are interested in. You can locate these lists by clicking the individual links of our website, depending on the category of residence you are interested in.

Deportation or repatriation . Just to be sure

@Toon Let me check with Gwenny again ! It is an interesting question.

I guess that deportation costs are only applicable if you overstay or do something that demands deportation. so when do you get it back or access to.it when the likelyhood doesn't apply

@dvb123 We have just been to see Gwenny, as she was not there, we left the forms filled out for repatriation for gwenny to look at when she comes into the office. As we are both leaving Cyprus I asked the question if the 850 euro can be paid on the guarantee of our flight tickets out form Cyprus, it would appear that this is not on the table. It can take up to 2 years to get your money back, so don't hold your breath on this one. It will be paid into the bank account you have in Cyprus, you don't have to be in Cyprus to sign for anything once the forms have been accepted by immigration. I f you want the money to be paid into another bank that is something the recipient will have to do. Good luck

@walkthetalk100 yes I was told the same . Unfortunately we had to leave Cyprus without physically signing the forms and Gwenny’s staff told us to sign the forms when I next visit Cyprus . The Hellenic bank app works fine from abroad. You just need to keep your account open.

Is this a new requirement as I did not have to do this in March 2023 when I went thru the temp migration process?

I am again confused

I thought we didn't need a bank guarantee being from uk

My renewal is next week ( 3 months after last card being issued)

I see the question but are we still exempt

Thanks

@kevinlewis2323 just checked on MOI website…UK resident is nil

[link under review]

@simoningram

Many thanks)

@kevinlewis2323 I renewed in September, did not need a bank guarantee