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Send Enquires
  • Login
CyAuSe - Cyprus Audit Services Ltd
  • Home
  • Reduce Taxation
    • Find the Right Jurisdiction
    • Select Vehicle / Company Type
    • Are You a High Net Worth Individual?
    • Tax Free Income
    • Cyprus Tax Tips
      • Cyprus Tax Calculators
        • Cyprus Corporation Tax
        • Cyprus VAT
        • Cyprus Gross to Net Salary
        • Cyprus Dividend Tax
        • Cyprus Social Insurance
        • Cyprus Capital Gains Tax
      • Cyprus Property Owners
      • Cyprus Company Owners
      • Cyprus VAT Related Tips
      • Cyprus Employed Persons
      • Cyprus Self Employed Persons
    • Cyprus Double Tax Treaty Network
    • Cyprus Crypto Tax
    • Cyprus NHS / GESY
  • Incorporation
    • Middle East Company Formation
      • Dubai Companies
      • Qatar Companies
      • Saudi Arabia Companies
    • Create an International Company
      • Cyprus
        • Cyprus as a Business Centre
        • Head Quarter Relocation
        • Cyprus Company Maintenance
        • Cyprus Bank Account
        • Cyprus Company Creation
        • Cyprus Company Tax Benefits
        • Cyprus Double Tax Treaty Network
        • Payroll System
        • Useful Information
        • Popular Cyprus Structures
        • Cyprus Start Up Information
        • Cyprus Remote Employer
      • Seychelles Companies
      • BVIs (British Virgin Island)
      • Ireland
      • Bahamas
      • Malta
      • Isle of man
      • Gibraltar
      • Cayman Island
      • United Kingdom
      • Rest of the world
    • Create an International Trust
    • Create an Investment Firm
    • Cyprus Start Up Information
      • Company vs Self Employed
      • Company Issues
      • Funding Solutions
      • Accounting Issues
      • Start Up Tips
    • Buy Ready / Shelf Companies
  • Bank Accounts
  • Services
    • Company Services
      • Company Audit
      • Internal Audit
      • Re-Domiciliation Services
      • Executive Services
      • Accounting services
      • Outsource Payroll
      • Outsource Vat & Tax
      • Final Accounts
      • Management Accounts
      • Cash Flow
      • Business Plans & Feasibility Studies
      • Fiduciary & Support
      • Substance Solutions
      • Compliance Services
      • Marketing
        • Branding
        • Email Marketing
        • Lead Generation
        • Social Media Marketing & Advertising
        • Pricelist
    • Individual Services
      • Personal Taxation
      • Capital Statement
      • Succession Planning
      • Family office services
      • High Net Worth Individuals
    • Bank Account Set Up
    • Niche Markets
      • International Business Companies
      • Services Sector
      • Cyprus Forex and Investment Firms (CIFs)
        • Specialised services
        • Best Practises
        • CySEC Glossary
        • Cyprus Investment Firms and Funds Articles
      • Travel Sector
      • Real Estate & Construction
      • Retail and Consumer
      • Funding Programmes
        • Open - Expected Programs
        • EU Cyprus Programs
          • Youth Entrepreneurship Programs
        • Cyprus Personnel Funding Solutions
      • High Net Worth Individuals
    • Company Formation
  • Knowledge Hub
    • Blog
    • Articles
    • Announcements / Cyprus News
    • Client Enquiries
    • Video Tutorials
      • Tax & VAT Tips
      • Relocating to Cyprus
      • Our Mobile Application
      • Audit Guidance
      • Cyprus Company Related
    • FAQs - Corporate Cyprus
    • Interviews
    • Download Section
      • Tax Download Section
    • Publications
  • Relocate to Cyprus
    • Cyprus Immigration - EU Nationals
    • Cyprus Immigration - Non EU Nationals
    • HeadQuartering Solutions - Cyprus
    • Cyprus Immigration - FAQs
  • Funding
    • Business
    • Start-ups
    • Employment
    • ANAD
    • Individuals
    • Tourism
  • Licensing
    • Insurance Licensing
      • Insurance Brokers License
      • Insurance Agents License
      • Agent and Broker Differences
      • Cyprus Insurance Taxes
      • Cyprus Insurance FAQs
    • Cyprus Investment Firms (CIFs)
      • Educational Videos on Regulated Markets
    • Cyprus Funds
    • Download Section
  • Ίδρυση Εταιρείας / Φορολογία
    • ΔΗΜΙΟΥΡΓΙΑ ΚΥΠΡΙΑΚΗΣ ΕΤΑΙΡΕΙΑΣ
      • Σύσταση Κυπριακής Εταιρείας Πληροφορίες
      • Σημαντικές πληροφορίες για τις Κυπριακές Εταιρείες
      • Επιχειρηματικές Οντότητες Κύπρος
      • Χορηγίες / Επιδοτήσεις
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      • Μισθοδοσία Κύπρου
    • ΔΗΜΙΟΥΡΓΙΑ ΕΠΕΝΔΥΤΙΚΗΣ ΕΤΑΙΡΕΙΑΣ
    • ΔΗΜΙΟΥΡΓΙΑ ΔΙΕΘΝΟΥΣ ΚΑΤΑΠΙΣΤΕΥΜΑΤΟΣ
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      • Μάλτα
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  • About Us
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          • Διαδικασία Ίδρυσης Κυπριακών Εταιρειών
        • Israel market
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        • Main Services
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    • Our fees
      • Full Package
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    • Contact us
    • ERASMUS / Student Training

Cyprus Bank Account

Home / Incorporation / Create an International Company / Cyprus / Cyprus Bank Account
  • Middle East Company Formation
    • Dubai Companies
    • Qatar Companies
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  • Create an International Company
    • Cyprus
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      • Head Quarter Relocation
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      • Cyprus Bank Account
      • Cyprus Company Creation
      • Cyprus Company Tax Benefits
      • Cyprus Double Tax Treaty Network
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      • Useful Information
      • Popular Cyprus Structures
      • Cyprus Start Up Information
      • Cyprus Remote Employer
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    • Rest of the world
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    • Company vs Self Employed
    • Company Issues
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    • Accounting Issues
    • Start Up Tips
  • Buy Ready / Shelf Companies

OPENING A CYPRUS BANK ACCOUNT

Opening of a Cyprus bank account for a Cyprus company has never been easier. Simply gather the below information & documentation and arrange a bank meeting with any of the local banks who would be more than happy to assist you.

It is important to know that the Cyprus banks accept international clients much easier if they are introduced by organisations like our firm which acts as introducer to all Cypresses major banks.

Per latest EU directives and strict anti-money laundering regulations enforced across the globe, banks have become stricter in their client acceptance procedures, hence the lengthy and detailed documentation and information needed from you to open a bank account with a Cyprus bank institution. 

Documentation Needed to Open a Bank Account for a Cyprus Company

1. UBO – Ultimate Beneficial Owner 

  • Recent Utility Bill 
  • Identity Card or Passport Copy 
  • Source and size of wealth 
  • How wealth has / is accumulated? 
  • How wealth is spread? 
  • CV (Curriculum Vitae of UBO is needed) 
  • Local Tax Clearance (not requested but if available speeds up process) 

2. Information about the business 

  • Company Statutory Details (Owner / Shareholders, Directors, Secretary) 
  • Detailed explanation of Line of Business; 
    • How are sales generated, invoiced and paid?
    • How are expenses generated, invoiced and paid? 
    • Main clients and suppliers (the bank will need their names and agreements) 
    • Purpose of the account opening (be specific and clear) 
    • Website of the Company 
    • Physical address of the Company 
    • Expected source of incoming transfers (receipts): 
      • Client names and provision of contracts / agreements made 
      • Nature of transaction with these companies? 
      • Activities of these companies?  
      • Website or other reference point to find more information about these companies 
    • Expected destination of outgoing transfers (payments):  
      • Supplier names and provision of contracts / agreements made 
      • Nature of transaction with these companies 
      • Activities of these companies 
      • Website or other reference point to find out more information about these companies 

Feel free to enquire with us your banking needs at kt@cyprusaccountants.com.cy and we would be more than happy to assist you.

We have never encountered any issues with new bank account requests to-date and this long term experience we have by acting as introducers to all Cyprus’s main banks makes the entire process much easier.

3. Group of Companies 

  • Clear Group Structure, if applicable 
  • Clear demonstration relationship of Company and UBO 
  • Group Companies Statutory Details (Owner / Shareholders, Directors, Secretary) 

BACK OFFICE SUPPORT

CYAUSE Audit Services back office dedicated team will be assisting your needs on a daily basis ensuring that all filing and legal requirements are being met and communicated to you on a timely manner.

Typically, our back-office team will be providing you with the below service:

  • Correspondence with bank
  • Communication with local authorities such as with the Income Tax Office and the Cyprus Registrar of Companies
  • Liaison with accountants, auditors, lawyers and other professionals
  • Any other assistance that the client may need.
  • Cyprus Company Maintenance
  • Cyprus Company Creation
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