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Cyprus personal account setup and wire transfer how?


Corporate Services
Business Angel
May 12, 2009
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If I open a Cyprus personal account and want to receive wire transfers to, are there any limits and what should I tell my customers where they should transfer the money to?

In some countries and banks there are receiveing limits and if the amount is too high it will rise questions by the bank which I want to avoid!
Pretty easy, you will have all your banking details available, like IBAN account number, SWIFT code etc.

Your customers will be able to Wire Transfer the money directly into your bank account in Cyprus.

For the banks (at least the Cyprus banks which CCLOGIC is working with) in Cyprus, there are no limits, in regards to the "rising flags" if you transfer amounts of 100k + they will start asking questions if you haven't informed the bank about what it is you are intend to do or that you expect that large amounts to hit your account!

It is all about to explain your situation and business to the bank from the beginning, some clients intend to think that it might be a good idea to simply not be honest, doing this will course troubles at the end of the day!