Startups in Cyprus often begin with a fast, low cost online account, then add a local Cyprus bank account as they grow and need a local euro IBAN or lending. Revolut Business and Wise Business onboard quickly and price payments low, and Bank of Cyprus offers a local euro IBAN with branch support.
Suits Startups best
Depends on needs. Revolut Business and Wise Business suit early stage startups for fast onboarding and low cost payments, while a Cyprus bank such as Bank of Cyprus suits those needing a local euro IBAN and lending.
Typical monthly fee
EUR 0 to about EUR 30 a month at digital providers, plus traditional bank account fees. As of 27 April 2026.
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 this profile.
Fees and features as of 27 April 2026Last reviewed 27 April 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Startups in Cyprus usually want to open an account quickly, keep costs low while revenue is small, and support cards and multi currency payments as they hire and sell abroad. Revolut Business and Wise Business onboard registered companies in days and price payments low, while Bank of Cyprus and Eurobank Limited suit startups that want a local euro IBAN, lending, or branch support. Many startups begin with a digital account and add a local bank account as they grow. Fees and features below are shown as of 27 April 2026, so confirm current terms with the provider.
What Startups in Cyprus need from a business account
Startups move quickly and watch cash, so the time to open, the monthly cost, and the ability to add cards and controls as the team grows all matter. The features that matter most are fast onboarding, a low or zero monthly fee at the start, multi currency support for global customers and contractors, and clean accounting exports for investors. A local Cyprus bank account is often added later for a local euro IBAN, lending, and branch support, while a digital provider covers the early day to day. As of 27 April 2026.
R
Revolut Business
Multi currency account with cards and spend controls. Issues a non Cyprus IBAN and support is mainly in app.
Best for
Fast onboarding
Monthly fee
Free Basic plan, paid plans from about EUR 10 a month
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 Startups in Cyprus
These providers accept business customers in Cyprus. Fees and eligibility shown as of 27 April 2026. Confirm current terms with the provider before applying.
Many startups begin with a digital account such as Revolut Business or Wise Business for fast onboarding and low cost payments, then add a local Cyprus bank account such as Bank of Cyprus for a local euro IBAN, government services, and lending as they grow. The right mix depends on your stage and currencies. As of 27 April 2026. Verify with the provider.
How fast can a Cyprus startup open a business account?
Digital providers can often onboard a registered company in a few days, subject to their checks, while traditional Cyprus banks take longer and ask for more documents. Timing depends on the company structure and the completeness of your paperwork. As of 27 April 2026. Confirm with the provider.
How much does a startup business 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. Transaction, card, and currency conversion fees apply on top. As of 27 April 2026. Verify current pricing with the provider.
Can a startup with non resident founders 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 27 April 2026.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 27 April 2026. Confirm current terms with the provider before applying.