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Forget about Cyprus it won't work unless you incorporate your company there!
 
Forget about Cyprus it won't work unless you incorporate your company there!
I agree that banks are reluctant in Cyprus to open a bank account if you do not have substance in Cyprus and in many banks they even do not want to analyse the business when they see company without substance in Cyprus (I tried Bank of Cyprus and Hellenic). But at least there are EMIs which open bank accounts. The one I applied performed usual KYC, requested documents with the partners and opened me an account and they did not asked to have CY company and substance, since my business is related to IT and it does not require any office in a certain region at the moment.