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 operations, one of the first steps is to open a corporate bank account in Cyprus .
Below is a simple step-by-step guide and information on how Fidustria can help you go through this process as quickly and conveniently as possible.
Step 1: Register a company in Cyprus
Before applying to the bank, the company must be officially registered. This includes:
- Choosing a name and structure for the company (most often LLC / Limited Liability Company )
- Registration with the Cyprus Registrar of Companies
- Obtaining a Certificate of Registration , details of directors, shareholders and legal address
These documents are mandatory for submitting an application to the bank.
At Fidustria , we prepare the entire corporate package in advance to avoid delays and reduce interaction with the bank.
Step 2: Select a bank or EMI (electronic payment system)
In Cyprus, you can choose between traditional banks and licensed EMIs. Popular options include:
- Bank of Cyprus
- Hellenic Bank
- Eurobank
- AstroBank
- International EMIs such as Wise , Revolut etc.
The choice depends on the specifics of the business, the volume of transactions and the need for a local IBAN or multicurrency account.
Fidustria will analyze your business profile and recommend the most effective option.
Step 3: Prepare the necessary documents
To comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, banks in Cyprus will require a standard package:
- Certificate of registration
- Memorandum and Articles of Association of the Company
- Certificate of Directors and Shareholders
- Confirmation of legal address
- Copies of passports and proof of address of all beneficiaries and directors
- Description of the company’s activities or business plan
- Declaration of origin of funds and capital
The Fidustria team ensures that documents are complete, accurate and, if necessary, translated – to avoid delays and refusals.
Step 4: Bank Interview or KYC Meeting
Most Cypriot banks conduct a short interview (in person or online) with the beneficiaries or directors of the company. The purpose of the meeting is:
- Get to know the business activities
- Verify identity and assess risks
- Confirm the legality of the origin of funds
Fidustria minimizes the need for personal presence as much as possible and coordinates the process with the bank.
Step 5: Account approval and activation
After all checks are completed, the bank issues account details and IBAN. You will be able to:
- Contribute the authorized or initial operating capital
- Get access to internet banking
- Order a corporate debit or credit card
- Start conducting operations
The terms for opening an account are from 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 activation of banking services, ensuring accuracy, reliability and efficiency.