Opening a Bank Account in Cyprus

Opening a Bank Account in Cyprus


In recent times opening a banking account in Cyprus has grown to be an easy as well as quick procedure. The Cypriot banking system has gone through substantial modification that concluded in its development. Opening a Cypriot banking account implies very little time as well as a fairly easy procedure for both individuals and corporations. Nearly all Cypriot banks supply a wide variety of services.


For a person is kind of uncomplicated and quite easy to open a personal banking account in Cyprus. The documents a person must provide for opening the bank account are:

Replicate of a valid passport, identity card (a number of banks would require notarized duplicates of your identification papers).
A utility invoice declaring the home or apartment address of the very applicant (definitely the invoice must not be older than half a year).
An application form supplied by the bank.
The series of actions of opening a corporate banking account in Cyprus is just as quick and easy just like setting up a personal banking account except that corporations and organizations will be needed to put together a lot more paper work. To make it possible for a Cypriot business organisation to open banking account the following documentation will have to be handed in:

The Articles of Association of this very company.
The Certificate of Incorporation.
A certificate of good standing with regards to foreign companies if they have been opened for more than 2 years.
The Certificates of Directors and Secretary, the Certificate of the Registered Office.
The Share Certificate.
A proof of the registered workplace supplied from the Group Principal Trading Offices.
An application form handed over coming from the bank.
In an effort to create and launch a Cypriot banking account for a partnership the following documentation needs to be handed in:

The partnership agreement.
The Certificate of Incorporation.
Proof of the very registered office.
A certificate regarding the partners.
A certificate of good standing with regards to foreign partnerships if they have been opened for more than 2 years.
An application form supplied coming from the bank.
Corporate bank accounts may also be opened up by using representation by a power of a legal professional.


A Cypriot banking accounts will provide a lot of benefits to its holder. Regardless whether he or she is a natural individual or perhaps a business organisation, the banking system comes with ways to solve every type of potential or existing clients. A number of the most significant benefits associated with opening a banking account in Cyprus tend to be:

An immediate as well as stress-free opening procedure (it usually takes up to 4 days).
An individual can hand in the documents needed simply by fax or perhaps even e-mail.
There is not any minimum start- up money depositing required.
Bank charges are unquestionably low.
Online banking solution is offered.
If though any additional help is required, professionals can help you open a bank account.


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