Limited companies and corporations in Cyprus can open both online and local bank accounts, with the choice depending on whether a local euro IBAN, lending, and branch support matter. Wise Business and Revolut Business suit companies paying and billing abroad, and Bank of Cyprus offers a local euro IBAN with branch support and lending.
Suits LLC and Corporations best
Depends on needs. Wise Business and Revolut Business suit companies paying or billing abroad, while a Cyprus bank such as Bank of Cyprus suits those needing a local euro IBAN, lending, and branch services.
Typical monthly fee
EUR 0 to about EUR 30 a month at digital providers, plus traditional bank account fees. As of 17 December 2025.
Non resident position
Possible with full anti money laundering checks. Traditional banks expect economic substance such as a local director or office. Unclear cases, verify with the provider.
Providers that fit
Several. Online providers plus the main Cyprus banks accept registered companies.
Fees and features as of 17 December 2025Last reviewed 17 December 2025
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
A Cyprus limited company, the Ltd, or a larger corporation usually needs an account in the company name with clear records, cards and controls for the team, and support for euro and foreign payments. Wise Business and Revolut Business onboard registered companies and price payments low, while Bank of Cyprus and Eurobank Limited suit companies that want a local euro IBAN, lending, or branch support. Traditional bank onboarding is thorough and asks for corporate documents and information on directors and beneficial owners. Fees and features below are shown as of 17 December 2025, so confirm current terms with the provider.
What LLC and Corporations in Cyprus need from a business account
A limited company or corporation banks in the company name, so providers ask for corporate documents, the register of directors and shareholders, and identification and proof of address for beneficial owners. The features that matter most are clean company records, cards with spend controls, accounting exports, and euro and multi currency payments. Traditional Cyprus banks add a local euro IBAN, lending, and branch support, while digital providers add speed and low cost payments. Many companies use both. As of 17 December 2025.
W
Wise Business
Holds and converts many currencies at the mid market rate. Issues a non Cyprus IBAN and does not accept cash.
A local Cyprus bank with a euro IBAN, branch support and lending. Onboarding is thorough and fees apply. Verify current terms.
Best for
A local IBAN and lending
Monthly fee
Quarterly account fee, varies by account; verify with the bank
Compare accounts for LLC and Corporations in Cyprus
These providers accept business customers in Cyprus. Fees and eligibility shown as of 17 December 2025. Confirm current terms with the provider before applying.
Questions about banking for LLC and Corporations in Cyprus
What documents does a Cyprus company need to open an account?
Providers typically ask for the certificate of incorporation and related corporate documents, the register of directors and shareholders, a description of the business, and identification and proof of address for directors and beneficial owners. Traditional banks may request more and expect economic substance. As of 17 December 2025. Confirm the current list with the provider.
Can a Cyprus Ltd use Wise Business or Revolut Business?
Yes, both onboard registered companies, subject to their checks, and issue an IBAN from another European country rather than a local Cyprus IBAN. Some Cyprus government services prefer a local euro IBAN, so many companies keep a local bank account alongside. As of 17 December 2025. Verify eligibility with the provider.
How much does a company account in Cyprus cost?
Online providers range from no monthly fee to roughly EUR 30 a month depending on plan, while traditional Cyprus banks charge an account maintenance fee, often billed quarterly, and may set a minimum balance. Transaction, card, and currency conversion fees apply on top. As of 17 December 2025. Verify current pricing with the provider.
Can a company with non resident directors open an account in Cyprus?
It is possible. Traditional banks apply enhanced anti money laundering review and expect economic substance such as a local director or office, while digital providers run their own checks. Acceptance depends on the company structure and activity, so verify with the provider. As of 17 December 2025.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 17 December 2025. Confirm current terms with the provider before applying.