In an interesting move earlier today, the Cypriot authorities and the EU-IMF agreed to impose a one-off bank tax on deposits in Cyprus as part of a wider economic rescue program. This €10 billion emergency deal puts a 9.9% tax rate on deposits of more than €100,000 and then targeting others who deposit less at the rate of 6.75% in an effort to pay off the bailout tab.
As of right now we have only received an official statement from Banc De Binary regarding how this matter will be handled for their current and potential clients which can be seen below.
Banc De Binary assures its clients that it will absorb any costs caused by the one-off bank deposit tax in Cyprus, and that all our client accounts and balances will be unaffected by the decision.
Your deposits are in safe hands, and we take this opportunity to thank our clients for their continued trust in our services and reputation.
Deposits in accounts outside Cyprus are not affected in any way.
Please do not hesitate to contact Customer Support if you have any questions or need additional information.
Banc De Binary Management
Banc De Binary (www.bbinary.com)
It is still unclear whether or not the other binary options firms in Cyprus will follow the same route Mr. Laurent has taken and absorb the costs for their clients as it is quite large. If you are interested in reading a little more about the situation the New York Times has a great article you should check out here.