Opening a bank account in Cyprus is relatively easy when compared opening an account in other counties. Cyprus does not have limitations on who can and cannot open up a bank account there. So whether you are a resident or a non-resident, you can open Cyprus bank account in person or by mail from abroad. Still it is always advisable to open an account in person rather than by correspondence from abroad so as to avoid any unseen consequences that may arise due to non availability in person.
When you get really sure to open Cyprus bank account, you must start gathering as much information about Cypriot banks as possible. You can obtain details from of many Cypriot banks by simply visiting their websites or through an overseas branch of any Cypriot bank (or a foreign bank operating in Cyprus).Make sure to note the most important points like the fees charged for personal accounts, overdrafts, international money transfers and other services offered by different Cypriot Banks.
You should also consider taking help from your friends regarding this matter as they might have dealt with such situation before so their opinion and recommendation can be really fruitful for you to take a decision. A person who have an account in any Cypriot bank will be of a greater help as he will be knowing all the merits as well as demerits of different banks there. His advice will be more practical due to his experience of operating an account in person. He will be able to tell you exactly as to whether to open Cyprus bank account or not to.
Finally when you decide to open Cyprus bank account you should start gathering all the documents required by the banks to register an account in your name. To provide a proof of your identity you can use your passport, your residence proof, your electricity billing address etc. You also need to provide a proof that you have attended majority and that you are over 18 years of age, in this case your birth certificate may be helpful to you. In case you think of sending your documents electronically, you should consider using digital signatures for greater reliability and due safety.
It will also be beneficial for you to have two accounts, a foreign bank account for international transactions and a local account for day-to-day business, in case you plan to shift in Cyprus permanently. Finally when you open Cyprus bank account, you will be able to use its services all over the world whether you live in Cyprus permanently or not.
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