fbpx
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Simplified Guide to Opening a Bank Account in Cyprus

Michalaki, Pitsillidou & Co LLC > Blog > Simplified Guide to Opening a Bank Account in Cyprus

Simplified Guide to Opening a Bank Account in Cyprus

Opening a personal bank account in Cyprus has evolved in recent years due to changes in money laundering laws and Central Bank Regulations. While these changes have added some complexity, anyone armed with the necessary documents and guidance can navigate the process with ease.

Whether you’re a resident or non-resident, or represent a local or foreign company, opening a bank account in Cyprus is possible and always governed by the Cyprus Banking and Finance.

Here are the documents required:

Personal Bank Account

  • Detailed CV
  • Passport Copy
  • Recent utility bill (proof of address, not older than 3 months)
  • Information & documents regarding annual income (including tax declarations if applicable, company documents, income/payslips, profits/dividends, etc.)
  • Bank/Financial institution reference letter (not older than 3 months)
  • Information & documents concerning the source/value of wealth, along with supporting documents (bank statements, title deeds, etc.)

Business Bank Account

  • Full address of the company/principal trading address and description of activities (website)
  • Recent Certificate of Incumbency and Letter of Good Standing from the official registrar
  • Certificate of Registration
  • Certificate of Directors and Secretary
  • Memorandum and Articles of Association
  • Documents outlining the corporate structure leading up to the Ultimate Beneficial Owner (UBO), especially for complex structures
  • Recent Annual Audited Financial Statements &/or Management Accounts
  • Information & other documents demonstrating the source of funds
  • Good Standing Letter and Bank reference letter (not older than 3 months)

Please note that all documents must be in English or, if in another language, officially translated.

Our Services

We offer comprehensive services for opening a bank account in Cyprus, including:

  • Guidance on the required documents
  • Cyprus company formation, complete with a bank account

Contact us today for a free personal consultation and discover our competitive fee-based services.

Related Posts

Need Help?

Yiannis+Elena

We are here to help!
Free Consultation

Contact Us!