Search
  • Русский
  • Español
    • Why InternationalWealth?
    • Contact us Now
    • Payment
    • Confidentiality
    • How to Start
    • Information for HNWI
      • Luxury real estate for HNWI/UHNWI
      • Family Office
      • Premium Offshore Services
      • VIP-Lifestyle
      • Offshore Precious Metals
    • Русский
    • Search

    Enter your search text

    InternationalWealth.info

    The biggest portal about international asset protection and diversification

    +507 848 3045
    +44 7700 304814
    +372 5 489 53 37
    +381 6911 12327
    Products and
    services ➝
    InternationalWealth.info

    The biggest portal about international asset protection and diversification

    +507 848 3045
    +44 7700 304814
    +372 5 489 53 37
    +381 6911 12327
    Products and
    services ➝
    • Main Menu
      • Services and Products
    • Offshores, Midshores, Onshores
      • Offshore Companies
      • Offshore Jurisdictions
      • Offshores
      • Deoffshorization
      • SUBSTANCE – Real Presence
      • Offshore and Anti-Offshore legislation
      • Offshore Wisdom
      • Offshores for Beginners
    • Asset Protection
      • Offshore Trusts and Foundations
      • Asset Protection
      • Cryptocurrency
      • All about Fintech
      • Anonymity Offshore
      • Offshore Assets Inheritance
      • Intellectual Property Protection
      • Offshore Investments
    • Citizenship by Investment
      • Second Citizenship and Passport
      • Permanent Residence Permit Abroad
      • Tax Residency
      • Resident Visa
      • Travel Visa
    • Business Abroad
      • Business Abroad
      • Startup Abroad
      • Free Port
      • IPO Abroad
      • Holdings Abroad
      • Offices for Business Abroad
      • Business Connections Abroad
      • Legal Services Abroad
      • Accounting Services Abroad
      • Audit Abroad
    • Immigration
      • Emigration and Immigration
      • Business Immigration
      • Offshore Real Estate
      • Life Abroad
      • Expats Life
      • Study Abroad
      • Offshore Retirement
      • Overseas Employment
    • International Taxation
      • Tax Planning
      • Offshore Taxes
    • Foreign Banks and Accounts
      • Foreign Bank Accounts
      • Offshore Bank Accounts
      • Offshore Payment Systems
      • Own Offshore Bank
      • Offshore Broker Account
      • Foreign Bank Cards
      • Offshore Banks
      • Offshore Merchant Account
    • For Professionals
      • Offshore News
      • Offshore Consultants
      • Our Readers
      • Offshore History
      • Offshore conferences
      • Advertising on the Portal
    • Travelling and Treatment Abroad
      • Offshore Travelling
      • Medical Tourism
    Корпоративный счет на Кипре
    Main page » Services and products
    June 2, 2021

    Cost: From 2 999 EUR

    Consultation

    Corporate Accounts in Cyprus for UK and EU Companies

    Companies have been recently offered an opportunity to open corporate accounts in Cyprus on favorable terms. European financial institutions’ high-quality services are provided there at the most loyal level of requirements set for clients. Please find below the main relevant details. 

    Incentives for Foreign Companies 

    Let us recommend a financial service company founded in 2016 with the head office in Limassol (Cyprus). The variety of its corporate services extends far beyond payment solutions. 

    Corporate account in Cyprus

    Guarantees

    Payment processing business is handled by this institution according to the license issued by the Central Bank of Cyprus in compliance with the European Union Directive (EU) 2015/2366 on payment services in the domestic market. 

    The recommended company guarantees a customized approach, convenience, and reliability. Decisions on opening a corporate account are made fairly quickly – up to 2 days if you choose the appropriate package of services. 

    Basic Services

    Having obtained the account activation permit, the corporate client can perform the following operations:

    • conduct current payment transactions
    • deposit money directly (except for cash)
    • conduct revolving payments for regular orders. 

    Main advantages:

    • fast payments in euros within the SEPA zone
    • payments via SWIFT
    • English and Russian-speaking support staff
    • convenient secure system for managing accounts remotely
    • IBAN accounts 
    • payments in euros, US dollars, and Russian rubles
    • fast decision making on activation and loyalty to customers
    • ability to pass remote identification for account activation. 

    Restrictions and Requirements for Clients Opening Cyprus Corporate Accounts 

    The recommended financial service company is focused on the following customers:

    • large and medium-sized businesses
    • professional securities brokers
    • financial institutions (banks, insurance companies).

    There are no prohibitions for other business types if they develop and perform legally. Clients are granted maximum freedom and opportunity to transfer payments all over the world while saving time on paperwork, account set-up procedures, and payment formalities.

    Territorial Restrictions 

    Corporate accounts in Cyprus can be opened by companies that are residents of the EU countries, as well as the UK, Norway, Iceland, and Liechtenstein. 

    Terms and Conditions of Using Business Account in Cyprus 

    A convenient web-interface is available for the maximum comfort of cooperation with the recommended payment service company. 

    It meets European security standards and allows customers to quickly receive information about the state of accounts, stay in touch, and interact with the service institution. 

    Business Clients Enjoy the Following Services:

    • maintenance of payment accounts and clients’ accounts
    • cashless payments and conversion operations
    • migration guarantees and other documents required by official Cyprus authorities
    • Escrow account. 

    By opening a business account, a foreign company will be able to receive and make payments to third parties around the world, transfer funds to its own account. Payment transactions from different providers (banks, payment systems, financial institutions working with electronic money) are processed. 

    The most popular services with customers are those permitted by the Central Bank’s license:

    • Credit transfers for crediting the recipient’s account according to a payment document. It is possible to execute a standing order for regular payments.
    • Direct debit is performed on the basis of a permit (single-time or regular). It is a convenient function in such cases as transfers of insurance premiums or payments for services for contractual outsourcing. 

    Types of Corporate Accounts:

    • Operating account (current for daily operations);
    • Client’s account (for investment firms);
    • Escrow account (for secure payments with guarantees). 

    Recommendation: Top managers and heads of corporate clients receiving the payment service can open a personal account in Cyprus. 

    Available payment currencies

    Transactions on corporate accounts can be made in EUR (euro), RUB (roubles), USD (US dollars). You can make payments in any currency through conversion.

    Deadlines for opening a corporate account

    • up to 2 weeks;
    • up to 1 week;
    • up to 2 days. 

    Tariffs 

    Clients are not required to make an initial deposit or to ensure a minimum balance by the end of the month. As for the flexibility of tariff plans, the payment company in Cyprus guarantees an individual approach to each corporate client. It is based on the monthly analysis of the frequency and volume of payments. 

    The standard commission rates are as follows:

    Services, fees in EURStandardUrgentExpress
    Opening200
    (2 weeks)
    500
    (up to 5 banking days)
    1,000
    (up to 2 banking days)
    Closing100
    Monthly maintenance100
    Annual maintenance of inactive account1,500
    Incoming payments from SEPA25
    Incoming payments not from SEPA50
    Outgoing payments in SEPA zone, up to EUR 5,00025
    Outgoing payments in SEPA zone, EUR 5,000 -50,00050
    Outgoing SEPA payments exceeding EUR 50,0000.20%100350
    Outgoing payments not in SEPA0.30%200500

    Important: These tariffs are subject to revision due to certain considerations, including individual customer approach. For more details, please send us a request to the e-address given at the top of the page.

    How to open a business account 

    1. Let us know if you are interested in opening a corporate account in Cyprus. Contact us by mail or via any available messenger, online chat.
    2. Pay for our services and get advice on how to fill out the bank form and the necessary documents.
    3. Provide us with your portfolio of documents for inspection before sending them to Cyprus.
    4. After receiving a confirmation of the positive decision, you will be able to activate the account and start your business activities. 

    List of documents:

    For a company:

    • Certificate of Incorporation.
    • Certificate of the Trade Name/Brand (if applicable).
    • Articles of Association and Constituent Agreement.
    • Certificate of Authorities of the Directors and Secretary (or an equivalent document).
    • Certificate of a proper legal status (for companies older than 1 year).
    • Certificate of Authority (for companies older than 1 year).
    • Certificate of Shareholders (or an equivalent document).
    • Certificate of a legal address (or an equivalent document). 

    For beneficiaries:

    • A valid passport /ID.
    • Confirmation of the residential address: a recent (no older than 6 months) utility bill (electricity/water/phone), bank statement or home insurance, or payment of municipal tax. 
    • Questionnaire/resume.
    • Recommendation letter from the bank (if applicable).
    • Proof of the origin of the beneficiary’s assets (documents should indicate the amount of wealth, the ultimate beneficial owner, and contain information on how the ultimate beneficial owner has acquired such a state). 

    Documents of legal persons or entities registered outside Cyprus are provided as apostilled originals with translation into English. Translated documents must be completed no later than 6 months before the date of application. 

    Important: When opening a corporate account in Cyprus, the Payment Service Compliance Department may request other documents that certify the status or condition of the company, its beneficiaries. We will help you understand the requirements and advise on how to prepare the documentation. 

    For consultations, questions, please contact us at the e-address given at the top of this page.

    What are the requirements for companies wishing to open a corporate IBAN account in Cyprus?

    The payment service we recommend to use is not subject to any special requirements for companies registered in the EU, the UK, Iceland, Norway, or Liechtenstein. For representatives of large and medium-sized businesses, brokers, financial, insurance, and investment companies we offer particularly favorable conditions.

    Do I need to make an initial deposit to open a business account in Cyprus?

    The Payment Service Provider does not set requirements for making a down payment upon account opening. There is also no mandatory condition to ensure a minimum balance on the business account. Depending on the frequency and volume of payment transactions customers will be offered more favorable tariff plans.

    How long does it take to open a corporate account in Cyprus?

    Depending on the selected tariff plan and the completeness of the provided documents, as well as their completeness, the account activation period is from 2 to 14 working days.

    Need a consultation?

    Please read other interesting articles at InternationalWealth.info portal:

    1. Open a Corporate Multi-Currency Account in the UK Payment System
      Open a Corporate Multi-Currency Account in the UK Payment System

      The UK payment system and its advantages for corporate account setup Businesses that the UK payment system accepts as customers Countries…

    2. Open an Online Offshore Corporate Account for a Startup or IT Business in the Cyprus Payment System
      Open an Online Offshore Corporate Account for a Startup or IT Business in the Cyprus Payment System

      Features of a Cypriot business account in the payment systemTypes of businesses for which you can open a Cyprus account onlineDocuments…

    3. IBC in the Marshall Islands with British IBAN Payment Account
      IBC in the Marshall Islands with British IBAN Payment Account

      Register an International Business Corporation in the Marshall IslandsDocuments Required to Register a Company in Marshall IslandsCost of Company Formation and…

    4. Corporate Bank Account in Hong Kong with the Visit in Person
      Corporate Bank Account in Hong Kong with the Visit in Person

      Corporate Account in Hong Kong. Main Advantages of the BankWhat Are the Benefits of Opening a Corporate Account in Hong Kong?Who…

    5. A Corporation in Panama and a Corporate Account with a Bank in Panama
      A Corporation in Panama and a Corporate Account with a Bank in Panama

      A Bank in PanamaCorporate Bank Accounts for a Corporation in PanamaInternet Banking and Payment System in the Panama BankE-Commerce in the…

    6. BC in Nevis with a corporate account in the UK payment system
      BC in Nevis with a corporate account in the UK payment system

      We offer you to open a BC (a corporate-type business company) in Nevis. This business structure is the most common form of doing international business.…

    7. Corporate Account with Standard Chartered Bank in Hong Kong
      Corporate Account with Standard Chartered Bank in Hong Kong

      Standard Chartered Bank (SCB) Services for Hong Kong ResidentsCorporate Account with Standard Chartered Bank in Hong Kong – Forms to be…

    8. LLC in Nevis with a Corporate Account in the UK Payment System
      LLC in Nevis with a Corporate Account in the UK Payment System

      LLC in Nevis - a reliable fortress for your assetsName requirements for Nevis LLC formationDocuments required to register an LLC in…

    Please help us make the portal even more informative, up-to-date, and valuable for you and your business.

    Your email address will not be published.

    Popular Posts

    Foreign Citizenship by Investment: All Available Options
    Foreign Citizenship by Investment: All Available Options
    Going Offshore in Nevis: IBC or LLC?
    Going Offshore in Nevis: IBC or LLC?
    The Offshore Pro Guide to Top Banks in the Caribbean for 2023
    The Offshore Pro Guide to Top Banks in the Caribbean for 2023
    Portugal Golden Visa Residence Program
    Portugal Golden Visa Residence Program
    Anonymous China UnionPay Multi-Currency Card (USD/EUR)
    Anonymous China UnionPay Multi-Currency Card (USD/EUR)
    Registration of an LLC in Wyoming, USA for Non-Residents
    Registration of an LLC in Wyoming, USA for Non-Residents
    Offshore International Business Corporation (IBC) in the Marshall Islands
    Offshore International Business Corporation (IBC) in the Marshall Islands
    Residence Permits in Serbia in 2023 Leading to Citizenship in the Future
    Residence Permits in Serbia in 2023 Leading to Citizenship in the Future
    Belize LLC: A Window of Opportunity for Offshore Business in 2023
    Belize LLC: A Window of Opportunity for Offshore Business in 2023
    Register an LLC in Nevis
    Register an LLC in Nevis
    Open a Company with a Bank Account in Serbia Remotely
    Open a Company with a Bank Account in Serbia Remotely
    Combining a Nevis Offshore Trust and LLC Create The Ultimate Asset Protection Combo
    Combining a Nevis Offshore Trust and LLC Create The Ultimate Asset Protection Combo
    Why Serbia may be the best destination for you
    Why Serbia may be the best destination for you
    Limited Partnership Registration in Ontario, Canada for Non-residents
    Limited Partnership Registration in Ontario, Canada for Non-residents
    Panama Corporations and Bank Accounts: latest news
    Panama Corporations and Bank Accounts: latest news
    Top Countries for Opening Offshore Bank Accounts
    Top Countries for Opening Offshore Bank Accounts
    Top 10 Swiss Banks for Non-Residents in 2023
    Top 10 Swiss Banks for Non-Residents in 2023

    InternationalWealth.info

    All Rights Reserved © 2011 - 2023. INTERNATIONAL ASSET PROTECTION AND DIVERSIFICATION BLOG.
    Legal disclaimer

    InternationalWealth.info © 2023

    address PH Park Studios, C. La Colina, Panama