Individuals affected by the 2013 deposit haircut who missed the original application period can now apply for compensation, following the reopening of an online service by the Ministry of Finance.
Applications will be accepted from 9 November 2026 until 28 January 2027 through the government’s online service, Participation in the National Solidarity Fund Compensation Scheme.
The reopening gives a second opportunity to individuals who did not submit an application between 20 December 2023 and 25 May 2024.
The ministry said the service is intended exclusively for eligible individuals whose deposits or securities were reduced in value in 2013 as part of the resolution measures imposed on the Bank of Cyprus and Laiki Bank.
Who is eligible to apply?
The application process is open only to individuals who:
- Had the status of a private client.
- Had deposits or securities affected by the 2013 resolution measures at the Bank of Cyprus or Laiki Bank.
- Did not submit an online application during the original application period, from 20 December 2023 to 25 May 2024.
- Were not issued an NSF reference number.
The reopening follows a separate decision to restore access for people who had started applications in 2023–24 but had not completed the process or provided their IBAN details.
How to submit an application
Applications must be submitted exclusively online through the service available on gov.cy. Access is through the applicant’s personal CY Login profile.
The Ministry of Finance has set out different identification requirements depending on the applicant’s circumstances:
- Individuals with a Cypriot identity card or residence permit (ARC): They must create and verify a CY Login profile.
- Individuals without a Cypriot identity card who do not reside in Cyprus: They must create a CY Login profile. Their identity will be verified during the application process through additional information and supporting documents.
- Deceased individuals affected by the 2013 measures: Applications can be accessed through either a verified or an unverified CY Login profile in the deceased person’s name.
Detailed instructions are available under the “Instructions / What you will need” section of the online service.
What information is required?
The ministry has clarified that deposit reductions were calculated per customer, rather than per bank account. For securities affected in 2013, the reduction was calculated per investor account.
Each affected individual must therefore submit their application through their own CY Login profile.
The information required also differs depending on the bank:
- Bank of Cyprus: Applicants must enter any bank account number or investor account number. They do not need to state the amount of the reduction.
- Laiki Bank: Applicants only need to complete the field relating to the amount of the reduction.
The information submitted will be checked against records held by the two banks to establish whether applicants qualify for participation in the partial compensation scheme.
Once the application has been completed and formally submitted, applicants will receive an NSF reference number.
Deadline and contact details
The Ministry of Finance urged eligible individuals to submit their applications by 28 January 2027, stressing that the online service will no longer accept applications after that date.
For questions concerning the National Solidarity Fund, applicants can contact the ministry at [email protected].
For technical issues relating to CY Login, the designated email address is [email protected].
The ministry also advised applicants to read its announcement and the instructions provided on the online service before submitting questions. Enquiries must be made in writing and should concern matters not already covered by the published guidance.
Also read: US ambassador warns Cyprus is losing investment because of bureaucracy
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