Opening a Corporate Bank Account in Cyprus
What banks ask for: KYC on owners, source of funds, a credible business profile and evidence of real activity in Cyprus.
Prepare a clear business profile
Describe activities, clients, suppliers, expected turnover and countries involved. Banks assess risk on this narrative, so inconsistencies with your website or contracts slow approval.
Assemble KYC and company documents
For the company: certificates of incorporation, directors, shareholders and registered office. For each beneficial owner and director: passport, proof of address, source of wealth and funds, and references where requested.
Show substance in Cyprus and complete onboarding
Banks look for local office, directors or staff, and real commercial reasons for the account. Expect a meeting or video call and be ready for follow-up questions before the account is activated.
FAQ
Why was my account application declined?
Common reasons are unclear source of funds, high-risk countries or activities, lack of local substance, and incomplete documents. An advocate can help present the file and, where appropriate, approach another institution.