What you need to open a bank account:
The process for opening a personal bank account in Cyprus has changed over the last 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. The documentation required is set below:
- Proof of your ID such as your passport
- Proof of local residency such as a utility bill in your name
- A credit statement or a reference letter from your previous/current bank
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What you need as a minimum to live in Cyprus:
Persons who possess and have fully and freely at their disposal a secured annual income, high enough to give them a decent living in Cyprus, without having to engage in any business, trade or profession. The annual income required should be at least €9568,17 (CY£5,600) for a single applicant and moreover at least €4613,22 (CY£2,700) for every dependent person, but the Immigration Control Board may demand additional amounts as necessary.