Bank Accounts

company-formation

Cyprus companies may hold bank accounts in Cyprus or elsewhere. We enjoy very healthy banking relationships with the main banks in Cyprus, including major international banks. Cheque books and credit / debit cards are availability in a wide choice of currencies. Resident and non-resident bank accounts are available with comprehensive telephone, internet and mobile banking facilities are available. International commercial and trading finance facilities are excellent.

As intermediaries to the leading banks in Cyprus, we can introduce you to any Cypriot bank and provide assistance with the opening of resident and non-resident offshore bank accounts in Cyprus.

Cypriot Banks

The larger banks in Cyprus provide sophisticated online banking services as well as conventional telephone support in a regulated and service oriented banking and financial services environment. The banking system follows the UK's established banking tradition and Cyprus boasts of banks that trace their historical origins to the beginning of banking in Europe. Banking law and regulation is in line with all European Union directives and banking personnel in Cyprus follow disciplined and market oriented service charters.

Benefits of banking in Cyprus

Generally, bank accounts in Cyprus enjoy the following facilities:

  • A choice of term, savings or current accounts;
  • Favourable interest rates;
  • Cheque book facility;
  • Credit card facilities in various currencies;
  • No tax or withholding tax on interests paid to non-resident account holders;
  • No exchange control regulations;
  • Bank accounts can be opened in all currencies.

Our service

Using our knowledge of the local financial and banking environment, we can advise individuals or companies on the most appropriate bank according to the client's profile and requirements. As intermediaries to Cypriot banks, we can assist with the preparation of due diligence documentation to facilitate client acceptance by the bank. We also assist with the preparation of bank account opening forms and documentation to expedite the opening of bank accounts and activation of internet banking access.

Our bank account opening service includes the following:

  • advice re choice of bank in Cyprus
  • introduction to a bank of your choice
  • advice re due diligence documentation for client acceptance
  • opening of normal or offshore bank account in any denomination
  • applications for cheque books
  • applications for credit card facilities
  • applications for online banking facilities

Optional services:

  • bank account management
  • bank reconciliations and accounting
  • office address facilities
  • mail forwarding of all bank correspondence to your address of choice.

Costs and Fees

Our company formation forms pack and our Schedule of Fees for company formation and annual maintenance fees are available on request.



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