Opening a Bank Account in Cyprus
January 19, 2016
Leslie D. Varner (34 articles)

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.

Open a personal bank account in Cyprus

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.

Open a corporate banking account in Cyprus

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.

Some great benefits of bank accounts in Cyprus

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.

Leslie D. Varner

Leslie D. Varner