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Open a Bank Account in Cyprus
$1,200.00
Cyprus is the gateway to EU banking for International Businesses incorporated outside the EU.
Corporate and personal accounts are available, including banking services such as debit and credit cards, a broad range of currencies available, online and mobile banking, trade finance, credit notes, among others.
Cyprus is part of the Single Euro Payments Area and provides International Bank Account Numbers (IBAN), meaning that businesses and individuals banking in Cyprus may enjoy low transaction fees on transactions within the European Union.
In Cyprus there are no withholding taxes on interests paid to non-residents and there are no minimum account deposits.
All in all, Cyprus is an ideal option for EU and offshore companies that wish to access EU banking services and do business within the EU. For wealth management structures, Cyprus banks are also familiar with foundations and trusts incorporated in offshore jurisdictions.
We can help you open business and personal accounts with several international banks in Cyprus. Accounts are available for both resident and non-resident companies and individuals. We work with 3 different banks in Cyprus. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs:
- Cyprus Bank Option 1 (Business Account, Personal Account, Priority Personal Account)
- Cyprus Bank Option 2 (Business Account, Personal Account)
- Cyprus Bank Option 3 (Business Account, Personal Account)
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
Cyprus Bank Option 1 (Alpha Bank)
Account Details
| Eligibility | Local and Foreign Companies (Including Offshore Companies) |
| Account type and Currency | Corporate Current Account (EUR) Multicurrency Accounts (USD, CAD, CHF and other major currencies) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Debit (EUR) |
| Other Services | Trade Finance Cheque Book Savings Accounts Term-deposits |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Savings Account (EUR) (Interest-Bearing) Multicurrency Accounts (USD, CAD, CHF and other major currencies) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Debit (EUR) |
| Other Services | Term-deposits |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Savings Account (EUR) (Interest-Bearing) Multicurrency Accounts (USD, CAD, CHF and other major currencies) |
| Minimum Initial Deposit | EUR 70,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Debit (EUR) |
| Other Services | Term-deposits Priority Service Discounted Rates |
- Business Account
-
Account Details
Eligibility Local and Foreign Companies (Including Offshore Companies) Account type and Currency Corporate Current Account (EUR)
Multicurrency Accounts (USD, CAD, CHF and other major currencies)Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Debit (EUR) Other Services Trade Finance
Cheque Book
Savings Accounts
Term-depositsThere is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Personal Savings Account
-
Account Details
Eligibility International Individuals Account type and Currency Savings Account (EUR) (Interest-Bearing)
Multicurrency Accounts (USD, CAD, CHF and other major currencies)Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Debit (EUR) Other Services Term-deposits There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Priority Personal Account
-
Account Details
Eligibility International Individuals Account type and Currency Savings Account (EUR) (Interest-Bearing)
Multicurrency Accounts (USD, CAD, CHF and other major currencies)Minimum Initial Deposit EUR 70,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Debit (EUR) Other Services Term-deposits
Priority Service
Discounted Rates
Cyprus Bank Option 2 (Hellenic Bank)
Account Details
| Eligibility | Local and Foreign Companies (Including Offshore Companies) |
| Account type and Currency | Corporate Current Account (EUR) Multicurrency Accounts (USD, CAD, CHF and other major currencies) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Platinum Debit (EUR) Mastercard Gold Debit (EUR) Visa Gold Debit (EUR) Mastercard Connect Debit (EUR) Visa Classic Debit (EUR) Mastercard Explorer Credit (EUR) Mastercard Platinum Credit (EUR) World Elite Mastercard Credit (EUR) Visa Gold Credit (EUR) Visa Classic Credit (EUR) |
| Other Services | Trade Finance Payroll Services |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Savings Account (EUR) Multicurrency Accounts (USD, CAD, CHF and other major currencies) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Platinum Debit (EUR) Mastercard Gold Debit (EUR) Visa Gold Debit (EUR) Mastercard Connect Debit (EUR) Visa Classic Debit (EUR) Mastercard Explorer Credit (EUR) Mastercard Platinum Credit (EUR) World Elite Mastercard Credit (EUR) Visa Gold Credit (EUR) Visa Classic Credit (EUR) |
| Other Services | Term-deposits |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies (Including Offshore Companies) Account type and Currency Corporate Current Account (EUR)
Multicurrency Accounts (USD, CAD, CHF and other major currencies)Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Platinum Debit (EUR)
Mastercard Gold Debit (EUR)
Visa Gold Debit (EUR)
Mastercard Connect Debit (EUR)
Visa Classic Debit (EUR)
Mastercard Explorer Credit (EUR)
Mastercard Platinum Credit (EUR)
World Elite Mastercard Credit (EUR)
Visa Gold Credit (EUR)
Visa Classic Credit (EUR)Other Services Trade Finance
Payroll ServicesThere is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Personal Account
-
Account Details
Eligibility International Individuals Account type and Currency Savings Account (EUR)
Multicurrency Accounts (USD, CAD, CHF and other major currencies)Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Platinum Debit (EUR)
Mastercard Gold Debit (EUR)
Visa Gold Debit (EUR)
Mastercard Connect Debit (EUR)
Visa Classic Debit (EUR)
Mastercard Explorer Credit (EUR)
Mastercard Platinum Credit (EUR)
World Elite Mastercard Credit (EUR)
Visa Gold Credit (EUR)
Visa Classic Credit (EUR)Other Services Term-deposits There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Cyprus Bank Option 3 (Astro Bank)
Account Details
| Eligibility | Local and Foreign Companies (Including Offshore Companies) |
| Account type and Currency | Corporate Current Account (EUR) Multicurrency Accounts |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Debit (EUR) |
| Other Services | Trade Finance Payroll Services Deposits |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Savings Account (EUR) (Interest-Bearing) Multicurrency Accounts |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | N/A |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Mastercard Debit (EUR) |
| Other Services | Term-deposits |
There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies (Including Offshore Companies) Account type and Currency Corporate Current Account (EUR)
Multicurrency AccountsMinimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Debit (EUR) Other Services Trade Finance
Payroll Services
DepositsThere is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
- Personal Account
-
Account Details
Eligibility International Individuals Account type and Currency Savings Account (EUR) (Interest-Bearing)
Multicurrency AccountsMinimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) N/A Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Mastercard Debit (EUR) Other Services Term-deposits There is no minimum deposit, however, sufficient funds must be transferred into the account soon after opening, in order to cover the relative maintenance fees and/or relative transactions/products requested.
Our banking support services include introductions to payment processors and merchant accounts to better support our e-commerce clients. Whether you just need standard credit card processing or specialized services for high-risk processing, we are happy to help you with introductions that can empower your business.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is guaranteed if the account is not successfully opened, but a 15% administrative fee applies.