Opening a business account in Cyprus
Cyprus has long been recognized as one of the leading European jurisdictions for international business. Thanks to its favorable tax system, EU membership, and developed banking infrastructure, entrepreneurs and investors choose Cyprus for company registration.
Whether you are starting a new company or expanding your business, one of the first steps is to open a corporate account with a Cyprus bank .
Below is a step-by-step guide on how everything works and how Fidustria will help you go through this process quickly and without unnecessary complications.
Step 1: Register a company in Cyprus
Before applying to a bank, the company must be officially registered. This involves:
- Choosing a company name and form (most often – LLC / Limited Liability Company )
- Registration in the Cyprus Companies Registry
- Obtaining a Certificate of Registration , list of shareholders, directors and legal address
These documents are mandatory for submission to the bank.
At Fidustria , we prepare a complete corporate package in advance to avoid delays and save you time.
Step 2: Select a bank or EMI (Electronic Payment Institution)
In Cyprus, you can choose between traditional banks and licensed EMIs. Among the most popular options are:
- Bank of Cyprus
- Hellenic Bank
- Eurobank
- AstroBank
- International EMIs (e.g. Wise , Revolut )
The choice depends on the type of business, transaction volumes and needs for a local IBAN or multi-currency account.
Fidustria will assess your business profile and advise you on the optimal solution – to get your operations up and running as quickly as possible.
Step 3: Prepare the necessary documents
To pass the KYC (Know Your Customer) and AML (Anti-Money Laundering) checks, banks will request a standard package of documents:
- Registration certificate
- Memorandum and Articles of Association
- Certificate of Directors and Shareholders
- Confirmation of the company’s legal address
- Copies of passports and proof of address of all beneficiaries and directors
- Business description or business plan
- Declaration of source of funds and origin of wealth
The Fidustria team will ensure that the documents are complete, correct, and translated if necessary — which will reduce the risk of refusals or delays in opening an account.
Step 4: Bank interview or KYC meeting
Most banks in Cyprus conduct a short interview (offline or video call) with the beneficiaries or directors of the company. This allows the bank to:
- Understand the essence of your business
- Verify client identity and assess compliance risks
- Confirm the legality of the origin of funds
Fidustria minimizes the need for personal presence and coordinates the process with the bank for a quick and convenient completion of this stage.
Step 5: Obtaining details and activating the account
After completing the checks, the bank issues account details and IBAN. You will be able to:
- Contribute authorized capital or starting working capital
- Access online banking
- Order a business debit or credit card
- Start making transactions
The account opening period is usually 2 to 4 weeks, depending on the bank and the complexity of the company structure.
Fidustria accompanies you at every stage – from company registration to full activation of banking services, ensuring clarity, security, and efficiency of the process.