The financial system in Cyprus has developed quite a lot in the last few years, making it easy for individuals and companies in need of innovative services to actually benefit from them. One of the most common financial operations is related to various types of transactions, however, one must have a bank account in order to be able to transfer money.
Nowadays opening a bank account in Cyprus has become a simple and rapid procedure. The Cypriot banking system has undergone a massive change that led to its development. Opening a Cypriot bank account implies little time and an easy procedure for both individuals and companies. Most Cypriot banks provide a wide range of services.
Our Cypriot lawyers can offer more information on the requirements related to opening various types of bank accounts in this country. We can also assist with the procedure of setting up a business in Cyprus, which implies having a corporate bank account with a local institution.
Book a Free ConsultationThe Cypriot banking system is made of the National Bank which authorizes the other banks operating in the country, but also supervises their activities. With respect to the types of banks operating in Cyprus, these are private national banks, but foreign banks also operate through branches and representative offices.
There are several local and foreign banks operating in the entire country at the moment. Those who want to open bank accounts in Cyprus have plenty of options from this point of view.
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