Cyprus Personal Bank Account

[Dreamsoul]

First of all , congrats for the good work that your company have here , the transparency that demonstrates to new user its very good , i talk by my self.


I learn more here in two days , that in week in other pages , with the disadvantage in other pages they always seems some kind of scam.


I have some doubts that i expect that you kindly could explain me.


My case is this , I'm in Portugal and I'm a Portuguese citizen , and I have some incomings from my websites trough publicity , and i don't want that my government have knowledge of that values.


So my plan is open a personal bank account in Cyprus for put this earnings , and request a visa debit card for my expenses here in Portugal.


And now my questions:


1- If for some reason , the authorities here in Portugal ask to Cyprus authorities or my bank in Cyprus , informations from my bank account and the values that i have in my account what happens ?


2- To open a personal account , i need to send Photo ID like my drivers license , an utility bill or bank statement ? Just this right ?


3- To open the bank account needs an small deposit right ? How much it is ? That amount its send to you ?


4- What is the minimum amount of money that I have to get in my bank account per month ?


5- What is the average fees that banks in Cyprus charge for account maintenance ?


6- With my Visa Debit Card I could do all normal operations in ATM ? My bank will charge some kind of fees for that use ? Like to withdraw money in ATM or pay for goods in a real Shop ? If yes , could you give me some examples , don't need an exact value just some ideas what are the costs involved.


7- How much do you charge for this service ?


Thanks In Advance


Hope to ear news from you soon


Best Regards

 

[clemens]

1- If for some reason , the authorities here in Portugal ask to Cyprus authorities or my bank in Cyprus , informations from my bank account and the values that i have in my account what happens ?

Without local court order, nothing will happen.

2- To open a personal account , i need to send Photo ID like my drivers license , an utility bill or bank statement ? Just this right ?

Correct, I have provided nothing more than that for all my account openings in Cyprus.

3- To open the bank account needs an small deposit right ? How much it is ? That amount its send to you ?

No Deposit, there is an EUR 50 fee for the PIN's and token device if such is available with the bank, but no other funds need to be transfered.

4- What is the minimum amount of money that I have to get in my bank account per month ?

No minimum, never had any issues, at the beginning my account was almost empty (I think 2 or 3 euros only) and nothing happened.

5- What is the average fees that banks in Cyprus charge for account maintenance ?

I pay between euro 200 and 400 for each of my accounts on a 12 months period.

 

[JohnLocke]

6- With my Visa Debit Card I could do all normal operations in ATM ? My bank will charge some kind of fees for that use ? Like to withdraw money in ATM or pay for goods in a real Shop ? If yes , could you give me some examples , don't need an exact value just some ideas what are the costs involved.
7- How much do you charge for this service ?

All of the banks in Cyprus are offering a Visa or MC debit card that can be used in any ATM world wide. Our fee is typically EUR 750 to help with the account set up.

 

[Dreamsoul]

1- If for some reason , the authorities here in Portugal ask to Cyprus authorities or my bank in Cyprus , informations from my bank account and the values that i have in my account what happens ?
Without local court order, nothing will happen.

That could be a nice thing , but my doubt is , what could be the argument that Portuguese Authorities could use that a Local Court in Cyprus will accept?

6- With my Visa Debit Card I could do all normal operations in ATM ? My bank will charge some kind of fees for that use ? Like to withdraw money in ATM or pay for goods in a real Shop ? If yes , could you give me some examples , don't need an exact value just some ideas what are the costs involved.
7- How much do you charge for this service ?


All of the banks in Cyprus are offering a Visa or MC debit card that can be used in any ATM world wide. Our fee is typically EUR 750 to help with the account set up.

But what are the fees that the banks charge for the use of Visa debit card , like pay goods in real stores , or withdraw money in ATM's?


ex: In moneybookers mastercard they will charge €1,80 per withdraw in ATM's


Another doubt , its possible have an account with 2 sub accounts , and have an visa debit card for each account ?


If I have an account in EUR currency, can I receive transfers in USD ? If yes that will have costs from my bank ?


Thanks Clemens and Admin for the explanations.

 

[JohnLocke]

That could be a nice thing , but my doubt is , what could be the argument that Portuguese Authorities could use that a Local Court in Cyprus will accept?

There are a few things. If they can proof financing of terrorism or Money Laundering in a big scale, other reason could be source of funds are from trafficking or child abuse.

 

[caver]

question behalf of investor


I might have a investor for a project , but the investor need an bank account in europe to transfer money from.


Is it possible to create a Cyprus bank account, and do a cash funding?


Is there any restrictions on amount of money and eventually cash funding?


Is the best to create a private bank account or cyprus LLC with bank account?


You mentioned moneylaundring or other, what are the signs of moneylaundring?


Are Cyprus banks able to receive big amounts of money, and will they be secure?


Do the Cyprus bank have any report obligation to EU countries, other countries and home country of account owner?


Any suggestion of Cyprus bank to use?

 

[drillbill]

You will need to travel to Cyprus to achieve your goals! Doing so will let you do what you are looking for.

 

[clemens]

You can freely carry up to 10000 euro with you, no issues at all.

 

[JohnLocke]

Yeah you can fund your account by personal visit, as long as you have proof for the source of funds you want to insert to the bank account..

 

[cosmo]

Personal bank accounts in Cyprus can be good if you are going to be an expat. From what I have learned you can't expect any anonymity for banking there if you open a personal account it has to be a offshore company where you have access to their accounts. If you are not a tax resident to any country because you don't stay anywhere more than 180 days or less, you don't need to worry about that and a personal bank account may be exactly what you are looking for.


Check the fees and the ease of each bank in Cyprus, there are not so many so you can't overcome to do proper research on each.

 

[suzy]

Would love to know if you found a solution for your banking and if so, what do you think about it? - I have a few accounts round the globe so Cyprus and I?m all over happy with my banking. I'm instantly extending my network of companies so my businesses.

 

[Rahul shetty]

only a copy of driving license in documents required?
Are you confirmed about this?