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   EUROPEAN BANKING IN CYPRUS

Cyprus has always been a reliable jurisdiction to do banking. Cyprus offers many advantages for all those seeking a reliable Bank Account based within an established European banking center with long tradition of offering corporate/banking services to an international clientele since the '50s. The bank we work with comes from an experienced and progressive financial heritage steeped in providing international banking expertise and solutions to its customers since 1983.
 
This bank offers Corporate Accounts as well as Individual and joint accounts for both residents and non- residents of Cyprus. Offered account is a multi-currency account which is internet operated for wire transfers and account tracking, and by debit card or charge card.











Advantages

 Favorable interest rates
 Credit and debit card facilities
 Cheque book facility
 No tax or withholding tax on interests paid to non-resident account holders
 No exchange control regulations
 Accounts opened in any foreign currency   
 Full online banking control panel
 No minimum deposit required
 Full range of payment services including:

          - Electronic Funds Transfer (SWIFT) 
          - Bankers Drafts 
          - Letters of Credit,….



Documents required

Corporate Accounts :

- A certified/Apostilled copy of the Certificate of Incorporation
- A certified/ Apostilled copy of the Memorandum and Articles of Association
- Certificate of Good standing
- Identification; a picture ID such as a (certified) copy of the passport or drivers license for all signatories to the account
- Current bank reference Ideally the reference should reflect a satisfactory relationship (download sample) for all signatories
- Address confirmation by copy of recent utility bill or recent bank statement or major credit card bill (2 different documents)
- A board resolution which appoints the authorized signatories


Individual Accounts:

- a certified copy of your passport 
- a utility bill proving your address 
- a banker's reference (in original) 


How is the procedure

Upon receipt of application fee, We will ask the customer to provide clear copies of his/her application documents by email or fax in order to get the pre approvals from the bank (In case bank denies the application in this step, customer will be issued a full refund).

After bank approves the application, we send account application forms to the client to be filled and duly signed. At the final step, the customer shall return the signed account application forms along with required documents to the bank.

As soon as application forms and supporting documents reaches to the bank, they will set up a new account for the customer and notify him/her by email.

* To activate the account, it is required to make a deposit to the account within 6 months of account set up date


Service Fees :

 

        
 ::::: Application Fee ( € )
Individual & Joint Account  € 300.00  
Corporate Account € 500.00  

 
                                                                                                              

                                                                                                       

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