How to Open a European Business Bank Account online in Cyprus in 2022

Business Bank Account in Cyprus

Evangelou Loizou & Associates Ltd is an approved introducer with the major  banks in Cyprus, and therefore we can assist you with opening of both individual and Business bank accounts in Cyprus. We can help you complete the whole process to open a Business Bank Account Online in Cyprus?

How do foreigners open a Corporate Bank Account in Cyprus?

Cyprus Banks require the Cyprus Company to provide standard KYC documents, including:

1. Detailed business plan.
2. Business profile / office location / website.
3. For all signatories, directors, shareholders and ultimate beneficial owners, the following are required:
   1. Certified identification documents (passport, id etc);
   2. Certified proof of address (recent up to 3 months original utility or certified copy);
   3. Latest tax certificates;
   4. Reference letter from a Bank or a Practicing Lawyer;
   5. Curriculum Vitae (CV).
4. Board resolution with the name of the signatories authorized to open and operate the account.
5. Information about the different trading partners of the company and the countries funds will be transferred to and received from.
6. In certain cases the banks might also ask additional documents such as sales contracts etc.
7. In most of the cases banks will not require to meet the client in person but will be satisfied with a Skype meeting.
8. Banks usually require an update of the above documents and information every two years and in certain cases every one year.

Evangelou Loizou & Associates Ltd will also provide Business bank account management and support services for Cyprus Limited Companies which include:

• Assistance with transfer of funds
• Credit / debit card applications
• Internet banking applications
• Application for credit facilities (loans, bank guarantees etc)