Can a non-resident open a business bank account in Cyprus?
Yes, but it requires more documentation than for residents. Most banks require: Certificate of Incorporation, Memorandum & Articles, UBO declaration, proof of business activity, and source of funds documentation. EMIs (Electronic Money Institutions) like Wise Business or Revolut Business are often faster alternatives.
What is the difference between a Cyprus bank and an EMI?
Banks (e.g., Bank of Cyprus, Hellenic Bank) offer a full range of banking services and are deposit-guaranteed up to €100,000. EMIs (e.g., Papaya, Payabl) offer multi-currency accounts and faster onboarding but are not deposit-guaranteed and have limited lending products.
Which banks offer business accounts in English in Cyprus?
Bank of Cyprus, Hellenic Bank, and RCB Bank all operate in English. Most EMIs licensed in Cyprus also operate in English. Use the city and language filters to find options near you.