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Bank of Cyprus

Startupr
18 November, 2016

Bank of Cyprus

Bank of Cyprus is the largest bank in Cyprus offering a broad range of services such as business banking, private banking, credit cards, investment banking, and more. Whether you need a personal account or a bank account for your Hong Kong company, you can open it remotely.


Documents required for bank account opening

Company Documents

  • NNC1 form (CR document)
  • Certificate of Incorporation / Certificate of Good Standing*
  • Articles of association
  • Business Registration Certificate
  • Register (list) of Members
  • Share Certificate(s)
  • Minutes of First Meeting
  • Company Organization Chart
  • Register of Director and Company Secretary

(These company documents must be apostille or notarized by a public notary.

Personal Due Diligence Documents:

  • Notarised and Apostille international passport
  • Proof of address – Original Utility Bill such as electricity bill, telephone bill etc (issued during the last 6 months), or Original Bank Statement from any EU Bank. (For customers from Russia or Ukraine, internal passport page indicating residential address can be also accepted.)
  • Bank Reference letter
  • Trust Deed(s) between the beneficial owner(s) and the registered shareholder(s) acting as nominees (if applicable)
  • Ownership/group structure leading to the beneficial owner (diagrammatical or otherwise)
  • Proof of business address of Group Principal Trading Offices
  • Detailed CVs of the Ultimate Beneficial Owners and any business cards if available

If the shareholdership or directorship is held by a company (corporation), you must also provide a related set of company documents certified by a notary public. The shareholder(s) & director(s) of the holding company must provide personal Due Diligence documents as well.

Set of personal documents apostille or notarized by a public notarise: Notarized international passport, proof of address, utility bill, phone bill, or bank statement (no older than 6 months, and indicating your physical/residential address).

Business supporting documents:

  • Detailed Business Description – business nature, your experience in the field, etc.
  • Proof of business or preparation for business, even if your company is newly registered, business proof documents such as business sales contracts, partnership agreements, invoices, purchase orders, bills of lading, business licenses, etc.
  • Issued or Received Invoices – the company may issue or receive invoices once incorporated. Any invoices for your company will help demonstrate actual business engagement.
  • Copies of agreements with suppliers, if any (recommended).

Application form

  • Account-opening documents
  • New Account Questionnaire

Fees

  • Bank Application fee: free of charge
  • Monthly Maintenance fees: €50
  • Maintenance fee for all Current accounts with an overdraft: €3-500 (Quarterly charge)
  • Transfers between accounts in same currency: start from €20
  • Outward Payments: Minimum Transfer Commission: 0.2% (Minimum €10)
  • Inward Payments: Minimum€2 + €12 processing fees
  • Sight account low activity fee: €20 (with four or less transactions in a given month. Fee is waived if customer monthly average balance is over €20,000.)

Bank of Cyprus
Eurolife House
4 Evrou Street
2003 Strovolos
Nicosia
Cyprus
http://www.bankofcyprus.com.cy/en-GB/



About the Author


Startupr

Startupr puts you first. This is why our main focus is Startups with global ambitions. We give you the freedom to build your business while we take care of the tedious, administrative tasks, leaving you to concentrate on your dream for your company. As part of our brilliant service, our back end software will automatically send you reminders of important annual filings, and upload your important document to your online account. startupr.hk

 

 

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