Opening a bank account in Cyprus

Updated: May 16, 2023

The process for opening a personal bank account in Cyprus has changed over the last few years. The recent amendment to money laundering laws and regulations and the directions of the Central Bank of Cyprus have made the process more demanding. However, anybody having the necessary documents and guidance will not have any issues.

It is possible to open a Cyprus bank account for residents or non-residents and local or foreign companies.

Documents required to open a bank account

Personal Bank Account

  • Passport Copy
  • Recent utility bill as proof of address not older than 3 months
  • Bank/Financial institution reference letter not older than 3 months
  • Detailed CV
  • Information & documents concerning annual income (tax declaration if applicable, company documents, income/payslips, profits/dividends, etc.)
  • Information & documents concerning source/value of wealth and relevant supporting documents (bank statement, title deeds etc.)

Business bank account

  • Recent Certificate of Incumbency and Letter of Good Standing from its official registrar
  • The full address of the company/principal trading address and description of activities(website)
  • Certificate of Registration
  • Certificate of Directors and Secretary
  • Memorandum and Articles of Association
  • The documents showing the corporate structure of the legal entity leading up to the UBO should be provided and clearly presented in case of complex structures
  • Recent Annual Audited Financial Statements &/or Management Accounts
  • Information & other documents regarding the source of funds
  • Good Standing Letter, Bank reference letter not older than 3 months
  • All the above documents are required for personal bank accounts for the owners of the company

All documents must be in English or if in another language, to be officially translated.

Our Services

Contact us for a free personal consultation and learn about our competitive fee services.

How We Can Help?

George K. Konstantinou LLC

We have been serving clients since 1983 with measurable success.
Privacy policy

Office Opening Hours

8:00 am – 6:00 pm

Our Address

Gladstonos 55, Roussos Center Point, 5th Floor, Office 5e, 3040, Limassol, Cyprus

Contact Us

Tel: +35725368683

E-mail: info@gk-lawfirm.com

WhatsApp: 35799929393

Telegram: 35799929393