Where should I open a bank account for my company?

Opening a bank account in Cyprus should not be your preferred option. The fees are very high compared to other European countries. Also, controls and restrictions on your holdings and international transactions might be higher.

Wise, Revolut, or other European online banks are much cheaper alternatives, although they might be picky. We recommend opening a free private bank account with, i.e., Revolut before you emigrate, simplifying the KYC process for your Cyprus business account later.

Depending on the current risk portfolio of these online banks, new registrations from Cypriot companies may be temporarily blocked. We help our clients if necessary. Currently, we refer our customers directly to Revolut. Aside from Revolut, we also offer cost-effective banking options for high-risk businesses (high-risk from a banking perspective).