Opening bank accounts in Cyprus

Opening bank accounts in Cyprus

Searching for a foreign bank in order to open an account – a problem that many are trying to solve. After all, it is more profitable to carry out the circulation of money in a non-cash way, to use funds to solve certain problems in the financial institutions of Cyprus. The National Bank does not provide such conditions. If you are interested in opening a bank account in Cyprus, leave an application on the Crystal Tax website.

Opening an account in Cyprus: advantages

In matters related to opening an account in Cyprus, our country is one of the largest suppliers of clients for Cypriot banks. After all, there are many advantages that open up to a person. The main ones are:

• opening a bank account in Cyprus, which is part of the European Union;
• being subject to a vast system of treaties to avoid double taxation;
• good and competent support service of the respective bank;
• consultation on opening an account;
• the ability to manage your online banking account;
• high interest rates;
• simplified rules for regulating foreign exchange organizations;
• Minimum requirements for accounting and taxation.

As for risks, the national system of the CIS countries is considered less stable compared to foreign ones.

Opening a bank account in Cyprus: who can do it?

A person who has reached the age of 14 is considered a minor and has the right to independently open a current bank account by presenting a passport or other identification document, as well as an identification code.

As for adults, opening a bank account in Cyprus is available to everyone. But you should be prepared for the fact that this is a very long process. Therefore, it is best that a professional be present during this procedure.

How to open an account in Cyprus?

To open an account in Cyprus, you need to follow a few simple steps:

1. Collection of documents. Their exact list must be clarified with a representative of the bank. You will definitely need the procedure for issuing a certificate from the mukhtar of the district municipality.
2. Specification of the date and time of the interview. In order to issue an invoice, it is necessary to arrange a rendezvous in advance. Contact a bank representative to find out a free date for a meeting with a specialist. If there is no time, then the appointment can be made on other days.
3. Immediate rendezvous. A foreign client must personally come to the meeting. Only in this way will he be able to open the desired bank account. In addition, at the rendezvous, you will need to fill out a special questionnaire. This will verify the identity of the foreign citizen. As soon as the specialist makes sure that everything is in order with the papers, he will give you a memo with details.

Do not forget that you will need to pay an annual and one-time fee.

How to open a bank account in Cyprus: documentation

If you are planning to open a bank account in Cyprus for a company, you should prepare the following papers:

• charter of the enterprise;
• certificate of registration;
• certificate of shares of the organization;
• certificate of good credit history;
• certificates of director and secretary;
• confirmation of the actual and legal address.

How to open an account in Cyprus for a non-resident?

Opening a current account in Cyprus provides for the provision of a basic package of documents. It does not depend on the account type.

Client needs to provide:

• a document that confirms the identity of a person (passport);
• proof of residence (utility bill);
• a reference letter from a previous bank that confirms a good credit history;
• the reason for the purpose of creating an account, indicating the amount to be deposited.

If you need help opening an account, please contact Crystal Tax. The manager will contact you to clarify the details of cooperation.

Check the cost of services with the official representative of the company. Trust the professionals.