Bank accounts for a Limited in Cyprus

Good business accounts offer numerous advantages, such as greater respectability to your customers, lower bank fees, and easier communication.


Open business and personal accounts despite Cyprus Limited

Anyone who emigrates to Cyprus and sets up a limited company there needs a business account for the Cyprus limited company. The banks in Cyprus are known to charge high fees, ask for an extremely large number of documents and proofs upon opening and reject numerous applications. With most banks you then have to disclose everything annually and on top of that pay a high fee of €300 or more to the bank to audit your activities. Private accounts are also very expensive. We strongly recommend that you use one of the bank accounts listed here. In this article we will tell you which current account is best for emigrants.

When we emigrated to Cyprus in 2019 to save taxes, Deutsche Handelsbank was still offering business accounts for entrepreneurs residing in Cyprus. However, this was no longer offered about a year later. Nevertheless, we have found two banks for you that offer numerous advantages and are much cheaper than local, Cypriot banks.


The perfect payment setup for your Limited

If you want to establish your limited company in Cyprus, you need a good tax advisor in Cyprus as well as secure and modern payment methods and banks. In this article we show you all working options for payment providers and banks for your Limited and all private things. With this setup we are driving for years safely and with full satisfaction.

01. business accounts for your limited

Es gibt aktuell keine deutschen Geschäftskonten für Limited's auf Zypern und deutscher IBAN. Daher bleibt dieser gut funktionierende Anbieter. Im Portal haben wir weitere mögliche Geschäftskonten aufgelistet. 

ACHTUNG: in unserem Mitgliederbereich listen wir Dir eine Bank auf, bei der Du ein günstiges Geschäftskonto für Deine Limited auf Zypern inklusive deutscher IBAN erhalten kannst! 

02. free private account 

There are two perfect providers, including a German bank, which are free of charge. You will be able to withdraw money free of charge at all ATMs in Cyprus. After the move, you simply change your new contact details in Cyprus online. Once you receive your personal tax number (TIN), you will be listed as a non-resident for tax purposes with the German provider and will therefore not pay taxes on dividends and stock gains. 

03. credit cards for your limited

We currently use these three credit cards. Particularly good and recommended is the first provider, which credits one mile per euro of sales, which you can then convert into flights, hotels and car rental bookings. I have already collected over 150,000 award miles, which I can now use to fly to Thailand soon for two and in business class - for free!

Credit Card Limited Cyprus


Credit Card Cyprus Limited


04. payment provider for your online store

If you run an online store, you should also create an account with these payment providers. STRIPE is now also available in Cyprus and offers payment methods such as SOFORT, credit card, direct debit, GiroPay, etc. We show you the complete setup in the paid portal and how you only pay 1.9% PayPal fees instead of 3.9%. 

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Deutsche Handelsbank closes its doors

Deutsche Handelsbank to discontinue payment transactions as of 01.09.2021

The previously functioning, fully-fledged Deutsche Handelsbank of the Reimann family with a German IBAN is discontinuing payment transactions for all customers. This means that even for expats and emigrants in Cyprus no account is offered anymore. Nevertheless, we show you with which tricks and through which reputable banks you can get a full-fledged business account for your Limited!

Credit Card Cyprus Limited

Business credit card for a Limited?

We have a solution for you how to get a German credit card (Mastercard Gold) for your Limited, even if you don't have a German bank account. 

Other business accounts at a glance

In addition to the solutions in the member area, you will find a comparison of other providers here. Whether they accept a Limited in Cyprus, you have to ask the provider directly. 

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