In Cyprus, the Central Bank of Cyprus regulates all banking. The major Cyprus banks include 1.Central Bank of Cyprus 2. Alpha Bank Cyprus Ltd. 3.Co-operative Central Bank Ltd. (CCB). The Central Bank is the regulatory bank that regulated banks – including branch and representative offices of foreign banks – operating in the country. Cyrus bank account services are easy to operate and are a choice of every offshore banker.
The Co-operative Central Bank providing services for rural and agricultural communities traditionally as well as is the governing body of all the operating Co-operative Societies (Co-Op bank), which work on the same license as retail banks. With minimum charge for all banking transactions, these Cyrus bank account services offer lower lending rates, interest rates and charges with standard banking services every day.
In order to take advantage of Cyrus bank account services it is mandatory to open an account in any of the Cyprus banks by providing passport, as the proof of identity and any utility bills or title deeds as the proof of address. It is important to file the documents in the bank by going in person; one can even mail the documents in case of non-residents. For all those who own a property in Cyprus, opening an account is more than necessary so that they find it convenient to make regular payments of utilities.
For the convenience of tourists all the banks in tourist resorts are open for longer hours in summer, offering satisfactory Cyrus bank account services. With instructions in English all the ATM’s are opened for 24 hours a day for withdrawals, deposits or balance checking. The general timings of banks are 08:30-12:30 Monday to Friday and Monday afternoons from 15:15-16:45 in summer (1 July to 31 August). Apart for this, all the Cyprus banks offers full internet banking services allowing all transactions to be made online. The account holder is issued a password to access the account.
The account holders fetching the Cyrus bank account services are taxed at a percentage of interest on their account retained for tax, the payment of which may be recorded on the tax return. All the Non-resident account holders should follow the instructions given in the EU Savings Tax Directive that states the rules relating to investments or deposits made in the Cyprus banks.
The currency that is used in Cyprus is euro and is easily convertible too. One can easily enjoy Cyrus bank account services like foreign currency exchange, long terms savings and investment accounts, Debit and credit cards along with having any kind of account like current or savings accounts.