REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH PIRAEUS BANK (CYPRUS)
For the Company:
- A Skype interview with the bank is required within 3 months of account opening.
- The minimum initial deposit and account balance of USD 500 will be required.
- Third party nominee director(s) and/or shareholder(s) are not permitted for the account opening. The bank will only consider the application when the company has individual director(s) and/or shareholder(s) or nominee legal entities provided by Starting Business.
- The account will be activated within 5-7 business days, upon receipt by the bank of all duly completed forms and relevant information.
A set of legalized company documents consisting of:
For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:
- Certificate of Incorporation
- Memorandum and Articles of Associations
- Documents confirming the appointment of company directors and secretary (if any)
- document confirming the location of the registered office
- Share Certificate(s)
- Certificate of Good Standing if the company is more than 12 months old
- Copy of the Corporate Structure, identifying the ultimate beneficial owner(s)
- Valid License (if applicable)
- Notarized copy of valid passport.
The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker's reference letter, dated within 3 months
- Power of Attorney (where applicable)
- Personal CV
Documents that are not in English must be accompanied by a certified translation.
Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.
IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES
If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, STARTING BUSINESS will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.
Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.
Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.