Opening a Bank Account
Evangelou Loizou & Associates Ltd is an approved introducer with the major Cypriot Banks, and therefore we can assist you with opening of both individual and corporate bank accounts.
Banks require the clients to provide standard KYC documents, including:
- Detailed business plan.
- Business profile / office location / website.
- For all signatories, directors, shareholders and ultimate beneficial owners, the following are required:
- Certified identification documents (passport, id etc);
- Certified proof of address (recent up to 3 months original utility or certified copy);
- Latest tax certificates;
- Reference letter from a Bank or a Practicing Lawyer;
- Curriculum Vitae (CV).
- Board resolution with the name of the signatories authorized to open and operate the account.
- Information about the different trading partners of the company and the countries funds will be transferred to and received from.
- In certain cases the banks might also ask additional documents such as sales contracts etc.
- In most of the cases banks will not require to meet the client in person but will be satisfied with a Skype meeting.
- 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 bank account management and support services which include:
- Assistance with transfer of funds
- Credit / debit card applications
- Internet banking applications
- Application for credit facilities (loans, bank guarantees etc)