Cyprus How To
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Understand what is needed to open a bank account in Cyprus: what you need and where to go. Also information on online banking...
Permanent residents of Cyprus need a bank account in Cyprus when making a residency application; non-residents do not have to have a Cyprus bank account, but those who own property on the island may find an account convenient for making regular payments of utilities.
No appointment is necessary to open an account; the following documents are needed:
- Passport or proof of identity
- Proof of address (recent utility bill, title deeds)
- Bank reference letter from previous banker (required by some banks)
Services
All major banks offer a full set of banking services for individuals and businesses.
- Current and savings accounts
- Debit and credit cards
- Direct debits and standing orders
- Foreign currency exchange
- Long terms savings and investment accounts
- Phone banking
Many also offer:
- Insurance
- Loans and mortgages
- Investment and consulting services
Internet banking
Almost all banks offer full Internet banking services allowing all transactions to be made online. The account holder will be issued a password to access the account.