OPENING OF CORPORATE BANK ACCOUNTS
Companies have the possibility to open corporate bank accounts in Cyprus national currency or other main foreign currencies. Bank offers to its clients’ multicurrency offshore accounts, with secure on-line operation facilities. All banks worldwide are being represented in Cyprus by establishing and operating the so-called International Banking Units (IBUs) which are being supervised by the Central Bank of Cyprus. Cyprus has very strict laws on bank secrecy. However, as part of the global anti-terrorism and anti-money laundering policy, the banks require to know the identity of the beneficial owner of the bank account.
In Cyprus opening a fully functional, fully activated, fully operational Cyprus Bank Account, takes very little time. Within 2 days, you can have the SWIFT, IBAN and Bank Account numbers. Personal visit is not required for processing of the application and no minimum balance is required. The bank account opening procedure will be carried out by us in accordance to the beneficial owner wishes.
APPOINTMENT OF SIGNATORY FOR CORPORATE BANK ACCOUNTS
The appointment of bank signatory is mandatory for the opening of a corporate bank account. An account signatory has signatory rights in a bank account. An account signatory may “sign” on the account – execute payments, sign cheques and otherwise dispose with the money on the account. For any regular company, the most obvious option is that the director is also the account signatory. However, any person can be an account signatory – even if such person is not formally related to the company.
We strongly recommend the appointment of our Cyprus resident as signatory to the bank account to demonstrate that management and control is exercise in Cyprus.
OPENING OF PERSONAL BANK ACCOUNTS
Opening a Personal Bank Account in Cyprus is a good way to managing funds with a high degree of confidentiality. The process is quick and easy. Anyone can open a bank account in Cyprus without visiting Cyprus.
Cyprus banks are fully integrated into international banking system and can offer a wide range of services.
The bank account opening procedure will be carried out by us in accordance to the beneficiary wishes.