Bank Of Cyprus




About the Bank

“Founded in 1899 and based in Nicosia, Bank of Cyprus is the leading banking and financial services group on the island. The Group has 136 branches, 130 of which are in Cyprus, 1 in Romania, 4 in United Kingdom and 1 in Channel Islands. Bank of Cyprus also has representative offices in Russia, Ukraine and China.

The importance of the Bank’s role in Cyprus economy was recognized by the Award “”Best Bank in Cyprus 2015″”.

The bank is one of the first banks in Cyprus in providing sophisticated and tailor-made services, satisfying the needs of the international clients. It offers a full range of banking products and services, including sight, notice and fixed term deposit accounts in all major currencies, loans, Visa, MasterCard and American Express business cards, trade finance services, etc.”

Required Corporate Documents

  • Board Resolution authorising account opening
  • Certificate of Good Standing (if applicable)
  • Certificate of Incorporation
  • Memorandum and Articles of Association / Constitution
  • Register of Members and Directors
  • Business Plan
  • Organogram, showing company’s structure

Required Personal Documents

“For Shareholders above 20%, Directors, Beneficial Owners, Ultimate Beneficial Owners and Authorised Signatories:

  • ID Card / current valid Passport
  • Recent Proof of Address i.e. Recent Utility Bill / Bank or Credit Card Statement
  • Bank Reference letter
  • CV

Personal Visit

Personal visit is not required.

Online Banking 

View and transactional internet banking is available.

Debit and Credit Cards

Bank offers a wide range of personal and business cards (VISA, MasterCard and American Express).

Time Required for Account Opening

Up to 1 month, once all required documents received.


All major currencies.

Bank Fees

  • Outward payments:
    • Within EU up to EUR 1,000 – EUR 5
    • Within EUR between EUR 1,001 and EUR 50,000 – EUR 12
    • Within EU above EUR 50,000 – 0.15% (min EUR 5, max EUR 400) processing fee EUR 12
    • Outside EU – 0.15% (min EUR 5, ma
      EUR 400) processing fee EUR 12″
  • Inward payments:
    • In EUR, up to EUR 10,000 – free of charge
    • In EUR, between EUR 10,001 and EUR 50,000 – EUR 4
    • In EUR above EUR 50,001 – EUR 30
    • In foreign currency up to EUR 2,000 – EUR 2
    • In foreign currency between EUR 2,001 and EUR 50,000 – EUR 10
    • In foreign currency above EUR 50,000 – EUR 40
  • Other fees:
    • Account maintenance – EUR 200 (annually)
    • Bank reference letter – EUR 35
    • Account closure – EUR 200

Download our Free guide to forming offshore

Looking for any expert offshore advice?

Speak with a consultant now

+44(0)208 371 2440

Send Us Message

A1 Global Formations | Your number one choice for global offshore formations

A1 Global Formations


+44 0208 371 2440

Looking to renew services?

© Copyright 2020. A1 Global Formations All Rights Reserved.

A1 Global Formations is a trading name of EMFORD GLOBAL DMCC a Company incorporated in Dubai Multi Commodity Centre.

EMFORD GLOBAL DMCC No: 0122 is an approved Registered Agent licenced by the RAK International Corporate Centre, Government of Ras Al Khaimah United Arab Emirates