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Open a Bank Account in Cyprus
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Cyprus is a member of the European Union. This bank provides a vast range of services that include an online banking facility, cards, IBAN, and more.
Both personal and corporate accounts may be opened. Offshore companies are also welcomed.
Opening accounts are hassle-free and quick, most especially for personal accounts.
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Cyprus Outline
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The country´s official name is the Republic of Cyprus. It is an island country in the Mediterranean Sea -- the third largest in the region and well-known for its tourist destinations. Its capital city is Nicosia.
Cyprus was a former British colony until it became independent in 1960. In 1961, it became a member of the Commonwealth, and in May 2004, joined the European Union. In 1974, Turkey invaded and occupied the northern portion of the island.
The Republic of Cyprus has one of the most successful economies in the Middle East and maintains a stable banking environment despite the global economic crisis. It is protected by the EU and its own regulatory laws.
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Merits of a Cyprus Bank Account
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Opening an account in Cyprus subsequently entitles you to the EU´s efficient security system. The region has established its position as the most suitable and stable business environment.
Cyprus bank accounts offer a wide range of services that include an online banking facility, cards, and even multi-currency services.
Personal and corporate accounts are available to both residents and non-residents of Cyprus (with the exclusion of residents in blacklisted countries). Opening a bank account is also quick and efficient.
A full range of payment services are also offered such as electronic funds transfers (SWIF and IBAN), cheque clearances, payments, and banker´s drafts.
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Personal / Corporate Account
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Oobac guarantees the bank´s reputable overseas transactions and can facilitate your account creation.
Nominees are also accepted during registration.
Oobac makes the process hassle-free while working within EU´s regulations.
All of our recommended banks have been hand-picked for their clean history, trusted activities, and high reliability.
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Fixed Deposit Account
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Fixed Term Deposit Accounts feature some very appealing rates, subjective to the amount and terms chosen.
Kindly contact the bank for further details after you´ve opened your account.
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No Personal Appearances
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Your bank account may be opened offshore, without the need for any personal appearances. The bank only calls for the proper and complete documentation -- Oobac will handle the rest of the process.
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Multi-Currency Accounts
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The bank offers accounts catering to multiple currencies, giving you the freedom to trade in any market you wish.
We advise you to consider the best currency for your account given the world´s economic situation.
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Internet Banking
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An Internet banking facility is available for customers to transact online. This gives you the ability to manage your finances from anywhere in the world at any time.
Your ID and password shall be sent to you as soon as you´ve opened your account.
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Cards
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The bank supports many kinds of cards and has partnered with the biggest names in the banking industry such as VISA and MasterCard to give you world-class convenience.
These cards will be made available to you once your account has been opened.
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Initial Deposit
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Normally, an initial deposit of 1,000 EUR is required when opening a new bank account. Oobac offers to set up your account in Cyprus for an initial deposit of just 100 EUR which may sent by wire of included in the banking fees.
To make an initial deposit, click on the "Add deposit to the fee + EUR 100.00" link in the "Choose how to send initial deposit" menu.
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Time for Opening an Account
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By using our EasyBankApp System, submitting your application takes a single step.
In the bank, they have prepared special team for our clients to speed up the procedure of opening account.
Things will be much, much faster than any banks.
It takes 3 to 4 days to open a personal account. All information will be delivered in around 1 week through courier. You can see all your progress of the procedure on "User Corner" after you log-in.
Corporate accounts may take slightly longer to open than personal accounts. To ensure the quickest possible process, kindly prepare all your documents and ensure that they are complete with the needed information.
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Bank Name
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Bank names are never revealed on this site for security and technical reasons. Oobac offers its services in confidentiality to our clients as well as our partners. As such, our unique offers cannot be availed of on your own.
For more details, click on the following link:
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Required Documents
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For Personal Accounts:
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Copy of your passport
Proof of your Address
Recommendation letter from a lawyer, accountant, or another bank (Oobac may also issue one for you)
All these documents must be new ones, issued within 3 months.
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For Corporate Accounts:
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Certificate of Formation/Incorporation
Statement of Shareholders/Organizers
Status of Company
Board resolution for opening a bank account
Notarized copies of company documents
Copy of your passport
Proof of your Address (within 3 months)
Recommendation letter from a lawyer, accountant, or another bank (Oobac may also issue one for you)
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