Why and How to Open a Bank Account in Cyprus
Foreign investors who want to open a company in Cyprus will have to open a bank account in Cyprus for the company to deposit the minimum share capital. Physical persons who work and live in Cyprus can also open a bank account for personal use.
Cyprus joined the E.U in January 2008 and the official currency is the euro. Since then, foreign company owners can benefit from transferring money from other euro accounts to Cyprus without being concerned about the foreign exchange rate.
Cyprus has a lot of advantages for investors such as:
- an attractive Cyprus taxation regime
- fast and easy incorporation procedure for the available types of legal structures.
Our Cyprus Lawfirm can help you set up a business and assist you in any legal procedures.
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