The Ultimate EU Holding
Opening a bank account for a Cyprus Limited has become a sophisticated process due to EU Anti-Money Laundering (AML) directives.
Whether you require a traditional local bank for substance or a digital Electronic Money Institution (EMI) for speed, we provide the gateway to secure corporate banking.
Opening a bank account for a Cyprus company is no longer a “check-the-box” exercise. Since the banking sector’s de-risking move in 2018, local banks have become extremely selective.
Most founders face these three major roadblocks:
The biggest mistake founders make is waiting for a local bank to approve them before starting operations.
We implement a Dual-Banking Strategy that gives you speed today and stability tomorrow.
Don’t send a 50-page PDF to a bank without a “warm intro.” To get approved, your file must be pre-vetted. At a minimum, you will need:
Clean, high-resolution passport scans for all UBOs (Ultimate Beneficial Owners).
A detailed background proving you have the experience to run this specific business.
A clear description of where the money comes from and who your main clients/suppliers are.
Documentation (tax returns or dividend statements) proving your initial capital is "clean."
The choice depends on your business model.
Traditional banks (e.g., Bank of Cyprus, Hellenic) are ideal for businesses requiring “Economic Substance” in Cyprus. EMIs (e.g., Wise, Revolut, 3S Money) are superior for international trading and remote management.
| Feature | Traditional Cyprus Bank | EMI (Wise / Revolut / etc) |
|---|---|---|
| Opening Speed | 4-8 Weeks | 3-7 Business Days |
| Remote Opening | Video Call / Limited | 100% Online |
| Substance Signal | Very Strong (EU/OECD) | Moderate |
| Crypto/High-Risk | Restricted | Supportive (Specialized) |
We act as “Introducers” to the main International Business Units (IBUs) in Nicosia, Limassol and Paphos.
We don’t just “submit a form”, we pitch your business to the bank’s compliance officer before the application even begins. This reduces the risk of a “Silent Rejection” and ensures your file stays at the top of the pile.
Result: you get speed, fewer mistakes, and a cleaner compliance trail from day one.
Yes, foreigners can open both personal and business bank accounts in Cyprus without being residents. However, banks will conduct “Enhanced Due Diligence” (EDD), which means more questions about your professional background and the source of your funds compared to a local resident.
There is no “best” bank, only the “best fit.” Eurobank & Bank of Cyprus is excellent for high-net-worth holding companies. Bank of Cyprus has the best digital infrastructure for local SMEs.
On the other side, digital banks like Revolut are widely used and are very flexible and easy to setup.
For a local Cyprus bank, expect 4 to 8 weeks. For a digital EMI account, it usually takes less than 5 business days. This is why we always recommend starting with an EMI while the local bank processes your application.
Not necessarily. Most banks now offer video-call identification (KYC). However, having a local representative or an “Introducer” handle the paperwork on the ground significantly increases your chances of approval without a physical trip.
You will need the full set of corporate certificates (Incorporation, Directors, Shareholders, Registered Office), the Memorandum & Articles of Association, and personal KYC for all owners (Passport, Utility Bill, CV, and Tax ID).
We’ll prepare your onboarding pack, structure the ownership narrative, and guide compliance Q&A until the account is active.
We also assist businesses active in High-Risk Sectors like Casino and Adult niches.
