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Does a Cyprus company need a Cyprus bank account?

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maddox

New member
I am moving my tax residence to Cyprus as non-dom. I was planning to create an N26 Business account but I do not know if a Cyprus account is needed. Does someone have any experience with this?

Thanks.
 

Admin

Forum Moderator
Staff member
Elite Member
You don't need a Cyprus bank account for your company, you can open an account with N26 if it is what you like as well as with any other EMI of your choice.
 

JohnSeed

Corporate Services
BANNED MEMBER
You can choose which bank or EMI you want - it don't have to be a Cyprus bank account just because you have a Cyprus company.
 

kkein

New member
OP have you tried to do this? I read N26 does not operate in Cyprus as of now, so i wonder if they let you open the account in a country they do not serve?
 

maddox

New member
OP have you tried to do this? I read N26 does not operate in Cyprus as of now, so i wonder if they let you open the account in a country they do not serve?
My current set up is that way. I have Revolut account for both my company and myself. Social insurance system connects well with Revolut, no problems so far (2 years with it).

I am looking into opening a bank account in a more traditional system though (Revolut is somewhat risky as they have some very arbitrary rules and processes with almost none support)
 

kkein

New member
My current set up is that way. I have Revolut account for both my company and myself. Social insurance system connects well with Revolut, no problems so far (2 years with it).

I am looking into opening a bank account in a more traditional system though (Revolut is somewhat risky as they have some very arbitrary rules and processes with almost none support)
Thanks for the feedback. About social insurance and revolut connecting well, what do you mean? By the way could you see your revolut balance reported in your tax declaration?
 

maddox

New member
To be a Cyprus resident, I also have myself as an employee (and Director) of my company, NHS can successfully deduct the amounts without me having to do any manual wire or pay on cash monthly (50 eur aprox for a 500 eur salary)
 
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