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.
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.
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!
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.
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.
After purchasing our mini e-booklet you will be familiar with the foreign terms and have a checklist.
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