OFFSHORE BANKING IN CYPRUS

OFFSHORE BANKING IN CYPRUS 

Cyprus Snapshot:

You might be surprised that we decided to include Cyprus on this list. Afterall, Cyprus doesn’t exactly have a reputation for stability and sound fiscal management.

But, Cyprus does have one thing that none of the other countries have, EU membership.

So, while we do not suggest maintaining large deposits in Cyprus or investing through Cypriot banks, we do suggest looking at Cyprus if you require EU banking, require transactional accounts, or you’re struggling to open elsewhere.

This is because banks in Cyprus can be more accepting of high-risk and offshore entities than those elsewhere in the EU. However, in recent years Cypriot bankers have been pushing for stronger ties to the Island so you may be asked for this when applying.

Deposits start at USD 1,500 for personal and business banking. Clients seeking premier banking should plan to deposit USD 100,000.

Risk level: Medium

Accounts: Personal & Business

Remote opening: Available

Opening difficulty: Medium

Deposit level: Low

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