How to Open a Bank of Cyprus Account

How to Open a Bank of Cyprus Account

How to Open a Bank of Cyprus Account

Bank of Cyprus is the leader in the market of banking services of Cyprus.

The Bank of Cyprus has been operating since 1899, having more than 250 branches and several subsidiaries. Today, it accumulates most of the country’s banking capital. In 2009, he was awarded an independent ISO 9001:2008 certificate, confirming compliance with international requirements and giving him the right to serve corporate clients, including non-residents.

Opening an account in this bank will enable you to perform international financial transactions and operate money from any part of the world. Here, corporate clients are provided with a personal manager. It is possible to receive and send payments in any currency, and carry out salary projects.

Each corporate account depending on the deposit amount costs some money: from 10 to 100 thousand euros, it’s 35 per quarter, and from 100 thousand to 1 million euros, it’s 200 euros per quarter.

About the Bank The oldest bank on the island, the Bank of Cyprus, was created in 1899. It has 588 banking units and a total staff of 11,962 worldwide. The preeminent Cypriot institution in monetary services, it is also one of the most dynamic groups in Greece, operating in the UK, Australia, Romania, and the Channel Islands. Representative offices are located in Romania, Ukraine, Canada, and China. In 2019, its rating by Standard and Poor’s was B+.
Account Type Personal, corporate, trading, deposit, investment (Private banking).
Bank Visit There are several options for opening an account:

  • Visit the bank in Cyprus.
  • Through the bank’s attorney (Cyprus lawyer).

Different procedures pursue different objectives, time, and costs.

Account Opening Date From 1 to 2 months.
Account Management Internet banking with DigiPass encoder; mobile version available.
Card Products Offers cards – VISA, MasterCard, and American Express.
Other Banking Products Letters of credit, deposit guarantees (1%-2%), escrow accounts, real estate mortgages, UBS investment products, Forex trading accounts, various investment products, Private Banking services.
Necessary Documents for Opening an Account Since 2 November 2018, the following documents are required upon account opening in Cyprus:

  1. Original corporate documents certified by apostille.
  2. Design of banking forms and business plan.
  3. Originals of foreign and civil passports of the beneficiary and attorney of the company authorized to sign.
  4. Certificate from the bank (bank reference) for the beneficiary and trustee authorized to sign.
Operating Time and Payment Speed Standard payments are made on the same day or the next. Operating day in the bank until 13.00.
Bank’s Official Website www.bankofcyprus.com

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