Cyprus Bank Account Opening
MN & ASSOCIATES offers advice and facilitates clients who wish to open corporate, personal or an individual bank account in Cyprus. The team’s expertise in the legal and financial fields and liaisons created with banks in Cyprus contribute to its success.
A company or business is required to open a bank account in Cyprus once it has become a corporation. Furthermore, with a bank account in Cyprus, a company is able to benefit from tax exemptions. MN&ASSOCIATES offers advice and facilitates clients who wish to open corporate, personal or an individual bank account in Cyprus.
One of the major advantages of opening a bank account in Cyprus is that you do not have to appear personally before the bank. This is very beneficial to entrepreneurs with a very hectic schedule. The process of opening a bank account can be done quickly, upon complete submission of the required documents. You and your business can also be assured that your funds are safe and protected in Cyprus. Cyprus has a stable economy and a secure economic environment, making it a safe location to keep funds. Cyprus is an EU member state and its banking sector is regulated by the European Central Bank. It is considered to have the most trusted banking sector compared to other jurisdictions.
A natural or a juridical person can open a bank account in Cyprus. For a personal or individual account, the owner of the account must be above 18 years old and is required to submit a copy of his passport, proof of address, and his signature.
For a corporate account on the other hand, the Memorandum and Articles of Association, Certificate of Incorporation, a bank reference letter and a list of authorized signatories are required to be submitted. Banks in Cyprus offer a variety of services which includes current and savings accounts, letters of credit, loans and mortgages, and insurance. Cyprus banks also offer multi-currency accounts. With a multi-currency account, you will be able to do business using any currency you want. This means more freedom in trading and less expenses from changing foreign currency exchange rates.
Banks may require certain documents or information to establish the chain of ownership of your account and to comply with the International Know Your Client regulations. Nevertheless, you can still be assured of the confidentiality of all the information you declared to the bank. All these information will be sacredly kept by the bank and may only be inquired into upon presentation of a valid court order.
MN&ASSOCIATES, assures clients that their bank account in Cyprus is secure and established with a trusted and reputable bank. MN&ASSOCIATES introduces its clients to credible banks and also assists them in securing loans and other credit facilities, applying for a Letters of Credit, getting a debit or credit card, on-line banking services and other banking services they may need.