Bank decides
Standard account
Open to residents and non-residents after the bank's checks on identity, address, expected transactions and source of funds.
Options
Right by law
Basic payment account
For people legally resident in the EU. If a bank refuses, it must tell you the specific reasons in writing.
Steps and timeline
- 11 week
Prepare documents
Passport or ID card, recent proof of address, details of your work and where your money comes from.
- 21 day
Choose the account
A standard account, or a payment account with basic features if you live legally in the EU.
- 32–6 weeks
Application
In person or online. The bank asks about your expected transactions and, where risk is higher, your source of funds.
Documents
Identity
Address
About you
0 of 6 ready
The exact list depends on your situation; we confirm it before filing.
Who does what
What you do
- Share your situation and goals
- Collect documents from home
- Agree the scope of work in writing
What we do
- Check the requirements for your case
- Prepare the documents and file the application
- Follow up until the decision
Your coordinator
- Plans the work and next steps
- Keeps one timeline for everything
- Reminds you of renewals and deadlines
Common mistakes
- Bringing proof of address older than 6 months.
- Expecting a residence permit card to replace a passport or ID card.
- Giving vague answers about expected transactions and where the money comes from.
- Giving up after a refusal: banks must assess each customer individually and justify a refusal.
What affects the cost
The price depends on your situation. We explain the scope and expected costs before work begins.
Your country of origin or residence.Your business or profession.Expected transactions and the source of your money.
Questions
Can I open a bank account in Cyprus before I have a permit?
Sometimes; it depends on the bank. Banks verify identity on a passport or ID card, not on a Cyprus permit.
What documents do I need to open a bank account in Cyprus?
A valid passport or ID card, proof of address up to 6 months old, contact details and details of your work. Some banks also ask for proof of source of funds.
Can a Cyprus bank refuse me because of my nationality?
Banks may not refuse whole categories of customers. Each case is assessed individually, though country of origin or residence counts towards risk.
Sources
- Central Bank of Cyprus: AML Directive 2025, checked 22 October 2026
- Payment Accounts Law 64(I)/2017 (cylaw.org), checked 28 October 2026
Figures checked 28 October 2026. Rules change: we confirm them for your case before you act.
