Information Needed to Open a Cyprus Bank Account
Quick Guide to the Paperwork Needed to Open a Cyprus Bank Account
Opening of a Cyprus bank account for a Cyprus company has never been easier. Simply gather the below information & documentation and arrange a bank meeting with any of the local banks who would be more than happy to assist you.
It is important to know that the Cyprus banks accept international clients much easier if they are introduced by organisations like our firm which acts as introducer to all Cyprus's major banks.
Per latest EU directives and strict anti-money laundering regulations enforced across the globe, banks have become stricter in their client acceptance procedures, hence the lengthy and detailed documentation and information needed from you to open a bank account with a Cyprus bank institution.
Documentation Needed to Open a Bank Account for a Cyprus Compan
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Recent utility bill (not older than 3 months)
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Copy of identity card or passport
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Details for the source, size, and accumulation of wealth
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CV (Curriculum Vitae)
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Local Tax Clearance (if available – this helps speed up the process)
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Statutory details including owners/shareholders, directors and secretary
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Detailed explanation for the line of business including:
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How the company will generate sales, invoice and get paid
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How the company will generate, invoice and pay for its expenses
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Main clients and suppliers including names and agreements
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Reason for opening the account
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Company website and physical address
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Expected sources of incoming transfers (receipts) including client names and contracts
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Expected destinations of outgoing transfers (payments) including supplier names and contracts
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Group structure with clarity on the relationship of the company and the UBO
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Statutory details for group companies including owners/shareholders, directors and secretary
