Bank of Cyprus reviews corporate account applications individually. For international clients, the bank’s published application route is to visit an International Business Unit or apply through a local Professional Intermediary. This is separate from the Business Sight Account process for companies registered in Cyprus, which requires a 1bank subscription and approval from all company directors. Don’t assume that every corporate account can be opened fully online.
What the bank needs to understand about your business
The application asks for more than the company’s registration details. It covers the company’s activities and the countries where it operates, expected annual sales and account turnover, transaction types, regular payers and recipients, and the origin and destination of funds.
Prepare a clear payment profile before applying: who will pay the company, who it will pay, from which countries, for what purpose, and at what approximate volume and frequency. The information should be consistent with the company’s business model and supporting documents. This is a practical takeaway from the bank’s application form, not a guarantee of approval.
Documents to prepare
The exact checklist depends on the company and application. For a Cyprus limited company, Bank of Cyprus lists:
- Incorporation documents and certificates confirming the registered office, directors, secretary and shareholders;
- A receipt confirming registration in the beneficial owners register;
- A board resolution authorising the account and setting out who may operate it and how signatories act;
- Available audited or management accounts, or VAT payment records where applicable;
- Proof of the address where the company’s main economic activity takes place;
- Identification and address documents for directors, the secretary, shareholders and authorised signatories.
Use the bank’s checklist for the company’s legal form and confirm which originals, certifications or translations are required for your case before arranging them. The bank may request additional information.
Account features and fees
The Bank of Cyprus Business Sight Account is listed for companies registered in Cyprus and is available in EUR, USD or GBP. The bank’s current page says all directors must be registered 1bank subscribers to approve an online application; debit cards are currently limited to companies with a single director. Confirm that this product fits your company and that its conditions apply to your application route.
The Bank’s May 2026 International Business Units fee schedule lists no charge for opening a new account, but separate application fees may apply to new customers: €300 for certain legal entities incorporated outside the EEA and equivalent countries, or €500 where enhanced due diligence is required. Monthly maintenance fees also vary by incorporation location and whether the company is active or dormant. Check the current fee schedule before applying, as charges can change.
How to prepare a stronger application
Before submitting the application, make sure the business description, expected account turnover and supporting documents tell the same story. Be ready to explain the purpose of the account, the first source of funds, the company’s main counterparties and the countries involved in its payments.
Bank of Cyprus may request further documents, restrict services for customers in certain countries, or decline an application. An intermediary can help prepare and submit the application, but cannot guarantee the bank’s decision.
LFT Advisors can help organise the company’s information, prepare the application documents and clarify the account-opening steps for the specific case.
