Who can open a bank account in Cyprus?
The Central Bank of Cyprus permits Cypriot and non-Cypriots to open a bank account in Cyprus – however you will need to submit ID and other documents to prove that you are a resident of Cyprus or have a valid reason to open an account in Cyprus.
Opening a personal bank account in Cyprus
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 direction 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 you 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