Your Business Account in Cyprus 🇨🇾

Yes, foreigners can open a business bank account in Cyprus fairly easily, either with or without a locally registered entity. However, requirements and procedures may vary among banks and so do their fees. It is recommended to contact the chosen bank directly for accurate information and guidance.

To set up a business bank account in Cyprus as a non-resident, you will typically need to provide documents such as your passport, proof of business registration, company documents, proof of address, and sometimes a reference letter from your existing bank. Contact the chosen bank or payment provider for their specific requirements and procedures.

First, conduct research or seek guidance from local financial advisors to select a bank that best suits your corporate needs. Then, submit the application along with the required documentation pertaining to your business, owners, source of funds, and comply with any additional requirements specified by the bank.

The cost of opening a business bank account in Cyprus can vary among banks and will also differ significantly depending on whether you have a local or foreign business. Additionally, it's important to consider that there might be a minimum balance requirement. To obtain accurate information on fee structures, it's best to inquire directly with specific banks.