How To Open a Bank Account in Cyprus
Which bank, what documents, and the full process.
Updated April 2026
One of the first things to do when arriving. Needed for rent, utilities, and salary.
Documents Needed
Passport or EU IDRequired
Proof of addressRequired
Employment contractRequired
TIN (tax number)Often required
Step-by-Step
Choose your bank
Bank of Cyprus has the better app and wider ATM network. Hellenic Bank is sometimes faster for opening.
Book an appointment
Call or visit online. Some branches have dedicated expat staff.
Attend with documents
Bring originals plus copies. Expect AML/KYC compliance questions.
Wait for approval
EU: 1-5 days. Non-EU: 1-3 weeks. You’ll receive IBAN and debit card.
Set up online banking
Bank of Cyprus: “1bank” app. Hellenic: “Hellenic Bank Mobile”.
From a local: Process was painless at Bank of Cyprus Nicosia. 45 minutes at branch, card in 3 days. Have a Cyprus address ready before you go.
Save on International Transfers
Cyprus banks charge €15-25 per transfer with 2-3% markup. Use Wise instead.
Calculate Savings →Frequently Asked Questions
Can I open before arriving?
Generally no — in-person verification required. Use Revolut or Wise as a bridge.
Do I need a TIN first?
Some banks require it. Getting TIN first makes everything smoother.