Opening a bank account in Cyprus

Account in Cyprus

he governmental policy of Cyprus has always been aimed to establish the most convenient financial environment therefore, Cyprus banks has become popular among entrepreneurs from different countries. It should be noted that now it is still possible to open a bank account in Cyprus, but it has been a tendency toward strengthening the procedure of opening a bank account and toward an increasing number of requested documents. These tendencies are due to fight against terrorism, tax evasion, which unfolded not only in Cyprus but also worldwide. The control over accounts of offshore companies and, in principle, over the business activities of clients has been enhanced. In conformity with banking conditions, compliance is becoming difficult and the situation are likely to be increasingly complicated in a short term.

But, with the specialists of Campio Group, the procedure for opening a bank account in Cyprus (in the bank of your choice) will be more understandable and accessible. We will select the best banks in Cyprus for you and help you comply with the KYC and due diligence procedures.

Photo 1 - Opening a bank account in Cyprus


  • Cyprus is a part of European Union and Eurozone that does not considered being an offshore jurisdiction
  • Low tax rates compared to other EU countries
  • A wide range of existing agreements to prevent double taxation
  • Well-developed infrastructure and good geographical location
  • Multilingual support services for most banks
  • Bank account can be opened remotely; and still in compliance with certain requirements, there is a possibility to open an account for an offshore company!
  • Affordable tariffs for account maintenance, etc.


  • Who has a residential business in the country of residence (office, employees, etc.)
  • Who is searching for a bank to make payments in US dollars and Euros
  • Who doesn’t have problems with the legality of the origin of money funds and can provide the bank all relevant supporting documents
  • Who doesn’t want to place a certain amount of money into the account in the form of a minimum deposit and constantly keep the minimum balance on it
  • Ready, if necessary, to hold a meeting with a bank representative on the territory of Ukraine
  • Who wants to open an account in Europe and to operate it distantly thought an internet-banking
Photo 2 - Opening a bank account in Cyprus


List of Cypriot banks with links to bank account opening conditions and service fees for each bank:



Bank of Cyprus


Hellenic Bank

Open accounts for

For non-resident companies, incl. offshore, under a set of conditions

For non-resident companies (except offshore jurisdictions, and partnerships)

For non-resident companies, except for offshore jurisdictions

Personal visit to the bank

Obligatory appointment with bank representative in Kyiv

Obligatory appointment with bank representative in Kyiv

Obligatory appointment with bank representative in Kyiv

Minimum required balance on the account

Not applicable

1000 EUR

Not applicable

Currency for opening the account

Banks work with all major currencies, including USD. Opening the account in currency of your preference additionally is needed to be agreed with the bank.

Set of documents

  • Statutory documents of the company, as well as financial and audit reports
  • Documents for nominee (if nominee service is used)
  • Documents for account holder and beneficiary  owner (passports, utility bill, bank reference)
  • Documents verifying the source of income of the beneficial owner and resident business

Terms of opening the account

From 1,5 month

From 1,5 month, after paying the first payment for documents consideration

From 1,5 month

Management of the account

Internet banking, using the mobile device

Internet banking, verifying transactions via Digi Pass or mobile phone

Internet banking via Digi Pass

Have more questions? Please call our lawyers:

 +38 (098) 737-88-88

We will provide you with the information on how to open a bank account in Cyprus as well as help you to open account in Cyprian bank or in any other of more than 60 foreign banks at your choice.

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