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.
of the service
1 000 EUR*
a bank account
opening type
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
Fast account opening process
Opportunity to submit documents remotely
There are no minimum deposit requirements to open an account
Low fees
The high degree of technological development
What documents are needed to open a bank account in Cyprus?
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.
Lawtter Solutions and its services
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.