Cyprus has lifted the last capital controls it imposed on its banking system during the financial crisis of 2013.
From now on, there will be no monthly cap of €20,000 ($22,000) on transfers by individuals to foreign banks, or of €10,000 for travellers moving money out of the country.
Cyprus was the only crisis-hit eurozone country to restrict capital transfers, as it faced a run on the banks.
The island's biggest banks nearly collapsed in March 2013 because of huge losses on their Greek investments, and thus Cyprus was given a €10bn bailout from the EU and International Monetary Fund (IMF).
The country's second-biggest lender, Cyprus Popular Bank (also known as Laiki Bank), was wound up and deposits worth more than €100,000 in the largest bank, Bank of Cyprus, were seized.
Those moves were part of the agreement to ensure that Cyprus funded part of the €10bn bailout.
Cyprus President Nicos Anastasiades, speaking on Friday, expressed confidence that the Mediterranean island was on its recovery track, despite three years of recession.
Lifting capital controls was "a vote of confidence in our banking system which, now fully independent of Greek banking institutions, can move forward".
Cypriot banks were hit severely by the Greek debt crisis, having lost about €4.5bn worth of Greek sovereign bonds - equivalent to 25% of Cypriot gross domestic product.
