Banking License in Cyprus
Cyprus is the largest financial center in Europe. This country is one of the world’s front-runners in the number of registered companies in various financial spheres, including the banking industry. Nonetheless, you need to know about the features of local legislation to go through bank registration in Cyprus without problems. Any mistake will lead to rejection. It’s a waste of time and money, so it’s better to trust the procedure with professionals. Lawtter Solutions specialists offer their services to obtain banking licenses in the Republic of Cyprus on the most favorable terms.
Services
Advantages
Advantages of Company Registration in Cyprus
There are over 20 banks that offer financial services in Cyprus. Hundreds of companies are registered in the jurisdiction and operate as non-residents. Cyprus offers several significant advantages for financial institutions:
Cyprus is also a brilliant choice for non-residents because of agreements for the avoidance of double taxation. The corresponding contracts were concluded with 52 states worldwide.
Cyprus is an EU country
As a result, banks can legally work in the EU without going through a complicated registration procedure.Profitable tax policy
The corporate tax rate is only 12.5%. This is one of the lowest indicators in the Eurozone. There are also opportunities for tax optimization.Maintaining commercial confidentiality
Banking confidentiality is strictly observed in Cyprus.Non-residents can start a bank
Cyprus does not have requirements for the residence of the founders and shareholders.Attractive conditions for research and technological development
If a bank invests in the development of technological solutions, it can receive an exemption of up to 80% of qualified income tax.Requirements
Requirements for Opening a Bank in Cyprus
Several requirements must be met for bank registration in Cyprus. They regard the company’s authorized capital, personnel, and representative office. We will consider the key requirements further.
Documents
What Documents Are Required for Bank Registration?
To get a financial license in Cyprus, you must prepare and submit the package of documents. It includes the following:
- Application for opening a bank.
- Constituent documents of the company registering the bank.
- Business plan with information about how the bank plans to earn and when it plans to start bringing profit.
- Information about the structure of the enterprise.
- Personal data of founders, shareholders, and top managers.
- Documents that would confirm the directors’ qualifications.
- Checks for the contribution of authorized capital.
Once the necessary information is submitted, the Central Bank of Cyprus will review it. During the review, the regulator may request additional documents. The Central Bank will then either decide to issue the license or provide a reasoned refusal.
Lawtter Solutions – Turnkey License Processing
Lawtter Solutions provides legal services for banks in Cyprus. The company’s specialists have extensive experience in this field. Lawtter Solutions will help prepare documents, draw a business plan, and submit all the documents to the National Bank of Cyprus to obtain a banking license. We will also provide high-quality legal advice and answer any questions.
+38 093 177 52 70 
+1 484 457 89 11 
+44 745 819 79 87 Important: Lawtter Solutions does not provide services to citizens and residents of the Russian Federation.