Press Office

The Ministry of Finance wishes to announce the launch of the electronic service "Participation in the Replenishment Scheme of National Solidarity Fund" prepared in collaboration with the Deputy Ministry of Research, Innovation and Digital Policy. The period for submission of application ends on 30/4/2024. (The electronic service is available here: https://www.gov.cy/en/digital-services/business-activity/support-schemes-for-businesses/participation-in-the-national-solidarity-fund-scheme)

The purpose of the National Solidarity Fund is to contribute to the partial replenishment of losses incurred by natural and legal persons who had the characteristics of a "retail client", due to the implementation of resolution measures in the two systemic Banks (Bank of Cyprus and Popular Bank).

According to the provisions of the Investment Services and Activities and Regulated Markets Law, "retail client" means a client who is not a "professional client". A “professional client" is a client who possesses the experience, knowledge and expertise to make his own investment decisions and properly assess the risk that he undertakes (includes Credit Institutions, Investment Firms (IFs), Insurance Companies, Pension Funds, Provident Funds, Large undertakings, Public Bodies, etc.).

The electronic service will provide the opportunity for the submission of applications by affected persons, in order to make the necessary assessment and identification of the beneficiaries, and consequently the costing and preparation of a Partial Replenishment Scheme for the potential beneficiaries of the Fund.

The following are eligible:

• Natural and Legal Persons who had the characteristics of a "retail client" and whose deposits and securities were impaired in 2013, due to the implementation of resolution measures in the two systemic Banks (Bank of Cyprus and Popular Bank):

 • Natural Persons:

o People over 18 years old

o Persons representing a deceased person,

• Legal Persons including but not limited to, Companies, Associations, Foundations, Religious Institutions, Partnerships.

In addition, information regarding impairment in the field «Impairment information 2013», please note the following:

• Bank of Cyprus: For impairment of deposits and securities at the Bank of Cyprus, it is requested to fill in only any bank account number or Investor share code, without completing the amount that was impaired.
• Popular Bank: For impairment of deposits and securities at the Popular Bank, only information for amounts that were impaired is to be provided.

Furthermore, as far as Natural Persons is concerned, in case of a joint account or joint investor share code, each person must make a separate submission/application.

To submit an online application for participating in the Replenishment Scheme of the National Solidarity Fund:

• Natural Persons with a Cyprus identity card or residence permit in Cyprus (ARC) as well as Legal Entities with a registration number in Cyprus: Registration AND authentication on the Government Portal CY Login (former Ariadne) is required.
• Natural Persons who do not have a Cyprus identity card and are not residents of Cyprus as well as Legal Entities that do not have a registration number in Cyprus: Their authentication will not be possible through the creation of an account on the Government Internet Portal CY Login, and for this purpose, additional details at submission of the application are necessary.

For any assistance and guidance required on issues related to the electronic service "Submission of details for participation in the Replenishment Scheme of the National Solidarity Fund", affected persons can contact email address nsf@mof.gov.cy. In addition, for help with CY Login issues, persons can contact email address CyLoginSupport@dits.dmrid.gov.cy.

Finally, the data submitted by the affected Natural and Legal Persons in their Application will be verified with data from the two Banks and other data from government services, for the purposes of their evaluation to determine their participation in the Partial Replenishment Scheme of the National Solidarity Fund.