Can a foreigner open a bank account in Cyprus?

Yes, foreigners can open a bank account in Cyprus. It is an open and well-organized system where residents as well as non-residents may avail themselves of personal or corporate banking products. The Cypriot banks are friendly to foreign clients, and the products are issued in various currencies and English-speaking services, which makes this jurisdiction popular for foreign businessmen and investors.

For the opening of a bank account in Cyprus as a non-resident, the applicants generally provide a valid passport, proof of address residence (e.g., utility bill that is recent), and occasionally a reference letter from an existing bank. Based on the type of bank and type of account, details regarding the source of funds or nature of business could be requested to fulfill compliance obligations.

Onboarding is simple and can be remotely done through video verification or appointed representatives from the bank. The Cypriot banks typically offer online banking, debit cards, and multi-currency accounts, which are flexible and accessible outside of Cyprus.

Offshore Company Corp assists foreign individuals and businesses with the right institution choice, document preparation, and regulatory compliance. Opening a bank account in Cyprus with the assistance of experts is an easy and safe procedure in the pursuit of international business.