Get experts' total assistance in opening your bank account for your company in Cyprus remotely. Leverage our expertise in the complex and uncertain process of dealing with banks worldwide.
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Our service facilitates the hassle-free opening of offshore bank accounts worldwide, sparing you the need for a physical presence and streamlining the process for international clients seeking banking solutions.
Our experts meticulously gather and organize all required documentation, ensuring clarity and completeness to expedite the bank's review process and enhance the likelihood of successful account openings.
We provide ongoing support by proactively tracking and following up with banks, promptly addressing any inquiries or requests for clarification, and ensuring a smooth and timely account opening process for our clients.
Benefit from the experience and expertise of our team, who possess in-depth knowledge of offshore banking regulations and procedures, to navigate complexities and optimize success rates for account openings.
Our services are competitively priced, offering a one-time fee for multiple bank applications. In the event of initial unsuccessful attempts, we will continue to assist you in applying to alternative banks at no extra cost to you.
Entrust your offshore bank account opening process to our capable hands and experience peace of mind. Focus on your core business while we handle the intricacies of banking procedures with professionalism and diligence.
Find out the documents required in order to apply for your Cyprus company's business bank account opening
Check out the available traditional and electronic (online) banking options for your offshore company in Cyprus
| Bank's Location | Bank Name | Personal Visit Required? | Initial Deposit Required | Online Banking Available? |
|---|---|---|---|---|
| Belize | Belize Bank | Not required | US$ 4,000 | Yes, available |
| Belize | Caye International Bank Ltd. | Not required | US$ 1,000 | Yes, available |
| Belize | Heritage Bank | Not required | US$ 3,000 | Yes, available |
| British Virgin Islands | Bank of Asia | Not required | US$ 20,000 | Yes, available |
| British Virgin Islands | First Caribbean International Bank | Not required | US$ 25,000 | Yes, available |
| Cayman Islands | FirstCaribbean International Bank | Not required | US$ 10,000 | Yes, available |
| Hong Kong | Bank of China | Person visit is required | HKD 300,000 | Yes, available |
| Malaysia | Standard Chartered Bank (Malaysia) | Person visit is required | US$ 20,000 | Yes, available |
| Mauritius | Mauritius Commercial Bank | Not required | US$ 50,000 | Yes, available |
| Mauritius | Investec Bank | Not required | US$ 50,000 | Yes, available |
| Mauritius | MauBank Ltd | Not required | US$ 5,000 | Yes, available |
| Mauritius | Bank One | Not required | US$ 5,000 | Yes, available |
| St. Kitts & Nevis | Bank of Nevis International | Not required | US$ 10,000 | Yes, available |
| St. Kitts & Nevis | International Merchant Bank | Not required | US$ 25,000 | Yes, available |
| St. Lucia | PROVEN Bank | Not required | US$ 5,000 | Yes, available |
| Singapore | DBS | Person visit is required | SGD 250,000 | Yes, available |
| Singapore | HSBC | Person visit is required | US$ 200,000 | Yes, available |
| Singapore | OCBC Bank | Person visit is required | SGD 30,000 | Yes, available |
| Singapore | United Overseas Bank (UOB) | Person visit is required | US$ 100,000 | Yes, available |
| United Aarab Emirates | Emirates Islamic Bank | Person visit is required | AED 10,000 | Yes, available |
| United Aarab Emirates | RAK Bank | Person visit is required | US$ 10,000 | Yes, available |
| Vanuatu | Pacific Private Bank | Not required | US$ 1,500 | Yes, available |
Electronic Money Institutions (EMIs) are digital banks catering to offshore companies, offering online banking services. They provide faster transactions, lower fees, and innovative financial products compared to traditional banks, making them ideal for efficient and flexible offshore banking solutions.
| Location | Institution Name | Personal Visit Required? | Initial Deposit Required | Online Banking Available? |
|---|---|---|---|---|
| Hong Kong | Airwallex | Not required | Not required | Yes, available |
| Hong Kong | Currenxie | Not required | Not required | Yes, available |
| Hong Kong | Rapyd | Not required | Not required | Yes, available |
| Hong Kong | Statrys | Not required | Not required | Yes, available |
| Singapore | Aspire | Not required | Not required | Yes, available |
| Singapore | Wallex | Not required | Not required | Yes, available |
| United Kingdom | MultiPass | Not required | Not required | Yes, available |
| United States | Mercury | Not required | Not required | Yes, available |
| United States | Payoneer | Not required | Not required | Yes, available |
Find answers to frequently asked questions on opening a company bank account for your offshore company in Cyprus
Generally, yes, most legitimate Cyprus companies can open corporate bank accounts. However, banks in Cyprus adhere to strict anti-money laundering (AML) and Know Your Customer (KYC) regulations, requiring companies to demonstrate transparency and legitimacy in their activities and source of funds. Companies involved in high-risk industries or with complex ownership structures may face increased scrutiny during the account opening process. Compliance with economic substance requirements, introduced to align with international standards, may also influence bank approval.
Yes, many banks in Cyprus offer remote account opening services for companies, including Cyprus companies. This can be done online or through authorized representatives, providing convenience and flexibility for international businesses. Remote account opening procedures typically require the submission of required documentation electronically and may involve identity verification processes to comply with regulatory requirements.
Banks in Cyprus typically support major currencies such as EUR, USD, GBP, and sometimes others like CHF or JPY, catering to the needs of international businesses. Some banks may also offer multi-currency accounts, allowing companies to hold and transact in multiple currencies within a single account, facilitating cross-border transactions and currency risk management strategies.
Various types of companies registered in Cyprus, including private limited companies, public limited companies, partnerships, and branches of foreign companies, are eligible to open corporate bank accounts. The specific requirements and documentation may vary based on the type of entity and the bank's policies.
Yes, minimum deposit requirements exist for opening bank accounts for Cyprus companies, but they vary depending on the bank and the type of account. For instance, in Belize, banks such as Belize Bank require an initial deposit of US$4,000, while Caye International Bank Ltd. mandates US$1,000, and Heritage Bank stipulates US$3,000. In the British Virgin Islands, First Caribbean International Bank imposes a higher initial deposit of US$25,000. Similarly, in Mauritius, both Mauritius Commercial Bank and Investec Bank require US$50,000 as an initial deposit. In Singapore, banks like DBS set the initial deposit at SGD 250,000, while HSBC requires US$200,000, and UOB mandates US$100,000. These minimum deposit requirements may vary further based on factors such as account type, currency, and the banking institution's policies.
Yes, nominee directors or shareholders can be used while opening a corporate bank account for your Cyprus company. This arrangement can provide privacy and confidentiality, especially for companies with sensitive ownership structures. However, banks in Cyprus often require disclosure of the Ultimate Beneficial Owners (UBOs) even if nominee services are used, ensuring compliance with AML/KYC regulations and transparency in ownership.
Many banks in Cyprus offer corporate investment accounts, allowing companies to access a wide range of investment products such as stocks, bonds, mutual funds, and structured products. These accounts provide opportunities for companies to manage surplus funds, diversify their investment portfolio, and potentially generate returns on idle cash reserves.
Yes, most banks providing services for Cyprus companies offer online banking platforms with advanced features and functionalities. These platforms allow secure remote access to account information, transaction history, and financial management tools. Additionally, online banking platforms may offer features such as electronic fund transfers, bill payments, and customizable reporting options to meet the specific needs of businesses.
Yes, many banks in Cyprus offer corporate credit or debit cards as part of their business banking packages. These cards can be used for making purchases, paying bills, and accessing funds conveniently, while also providing a record of transactions for accounting and auditing purposes. Corporate cards may also offer benefits such as reward programs, spending limit controls, and expense tracking features, enhancing financial management and control for businesses.
Here's the list of banks along with their respective initial deposit requirements for opening an account for your private limited company in Cyprus:
Belize:
Belize Bank - Initial Deposit: US$4,000
Caye International Bank Ltd. - Initial Deposit: US$1,000
Heritage Bank - Initial Deposit: US$3,000
British Virgin Islands:
First Caribbean International Bank - Initial Deposit: US$25,000
Mauritius:
Mauritius Commercial Bank - Initial Deposit: US$50,000
Investec Bank - Initial Deposit: US$50,000
Singapore:
DBS - Initial Deposit: SGD 250,000
HSBC - Initial Deposit: US$200,000
UOB - Initial Deposit: US$100,000
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