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

Support

Multilingual

Account opening type

No personal visit

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:

1

Fast account opening process

The registration in Cyprus takes just a few days.
2

Opportunity to submit documents remotely

The submission is carried out by email or fax.
3

There are no minimum deposit requirements to open an account

The client can open an account and not deposit any amount there.
4

Low fees

Bank commissions, even for non-residents in Cyprus, can be considered quite profitable.
5

The high degree of technological development

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