Open an Account in Cyprus

Just 10 years ago, Cyprus was considered one of the offshore jurisdictions, and many countries considered transactions with banks from this country risky. However, the situation has changed. For now, opening an account in Cyprus allows you to receive banking services in one of the most reliable jurisdictions.
A bank account in this country may be needed for individuals (for immigration, residence permit, or citizenship registration, as well as for real estate purchases) and for legal entities (settlement accounts to maintain business in the Eurozone, investments directly in Cyprus, taxes payment, etc.). Lawtter Solutions law firm offers bank account opening and complete customer support services.

The cost
of the service

1 000 EUR*

Term for opening
a bank account
1-3 months

opening type
No personal visit
* The cost is indicative; contact Lawtter Solutions’ lawyers to inquire about the cost of opening an account with the selected bank.
Opening an account

Basic information

The National Bank of the country exercises control over the activities of financial organizations in Cyprus. It issues licenses to both local banks and branches of foreign institutions. Both residents and non-residents, individuals, and legal entities can open an account in Cyprus.

Clients can choose any bank that provides services to non-residents. Their list is quite wide. Individuals can open a private bank account, a work account for receiving salary, and a bank deposit account. Corporate, trade, and offshore accounts are available for legal entities. Also, individuals and legal entities can get loans in Cyprus.

Advantages of opening a bank account in Cyprus

Opening a bank account in Cyprus provides several important benefits. The main ones are the following:

Fast account opening process

The registration in Cyprus takes just a few days.

Opportunity to submit documents remotely

The submission is carried out by email or fax.

There are no minimum deposit requirements to open an account

The client can open an account and not deposit any amount there.

Low fees

Bank commissions, even for non-residents in Cyprus, can be considered quite profitable.

The high degree of technological development

Banking in Cyprus is one of the most advanced in terms of services provided online.

What documents are needed to open a bank account in Cyprus?

Opening an account in a Cypriot bank is possible, subject to the provision of the necessary package of documents.

For individuals, the requirements are as follows:

  • Identity document.
  • Confirmation of residential address.
  • Taxpayer identification number.
  • Confirmation of the origin of funds.
  • Resume (CV).

As for legal entities, in order to open a bank account in Cyprus, they will need the following documents:

  • A package of constituent documents of the organization.
  • Identity card of the director and shareholders.
  • If the documents are submitted by the manager, you need to provide a power of attorney issued by the director and the manager’s identity card.
  • Confirmation of the residential address of the director, shareholders, and manager.
  • Agreements with partners.
  • Confirmation of the origin of funds.
Stages of opening an account

Lawtter Solutions and its services

The legal company Lawtter Solutions offers clients the opportunity to open a bank account in Cyprus in a short time. We offer turnkey services. Clients receive detailed advice and answers to any questions. The step-by-step procedure looks like this:

Selecting a bank with suitable conditions for the client

Preparation of the necessary package of documents

Submitting your application online

Passing verification

Obtaining all necessary documents and access to the bank account

Before opening an account in Cyprus, you must also select a bank. The largest banks in Cyprus are as follows:

  • Alpha Bank.
  • Eurobank.
  • Hellenic Bank.
  • Bank of Cyprus.
  • Ancoria Bank.
  • Barclays.
  • ABLV.
  • Banque SBA.
Contact Lawtter Solutions managers and apply at any time in a way convenient for you. We will be happy to advise you and help you choose the right bank and open an account for any needs.