Bank account opening in Cyprus

Bank account opening in Cyprus

Opening a bank account with a Cyprus bank is a pretty straightforward procedure provided certain minimum requirements are met.

Choosing a professional intermediary.

An application for a bank account must be submitted through a professional intermediary, a lawyer or accountant. The role of the professional intermediary is to take care of all the formalities and confirm to the bank the authenticity of the documents submitted.

KYC requirements.

A prospective client must submit to the bank the following original or apostiled documents:

1. Valid passport/identity card bearing signature and photo (acceptable only for permanent residents of the EU)
2. Proof of residential address e.g. utility bill (not older than six months), or original statement of bank account etc.
3. Bank reference letter from your bankers
4. Short CV
5. Our bank account opening questionnaire

In case the applicant is a company then the shareholders and directors of the company should submit the above documentation plus a full set of recent company certificates including memorandum and articles of association.

Procedure.

Once the above documents are sent including our bank account opening questionnaire we prepare the bank account application documents and arrange for the signature from the client.

Timewise it takes 2, 3 days to open a bank account once all documents are in place.

For more on banking services click here.

If you wish to open a bank account contact our law firm.