from $2,515

USB Bank

Corporate Account Opening in Cyprus

International Corporate bank account and full e-banking facilities for managing your daily business banking needs or saving purposes with USB Bank in Cyprus.

Please note: If your company is registered outside of Cyprus, you will need to provide a full set apostilled company documents for the account opening procedure.

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  • Requirements


    • Personal Presence is Required
    • An Initial deposit of EUR 500 will be required
    • The recommended minimum balance is EUR 200,000.
    • Account Opening time frame will be on a case by case basis:

    For the Company:
    A set of legalized company documents consisting of:
    • 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)

    For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:
    • 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

    For each corporate officer (Where the company directors or shareholders are legal entities), please provide:
    A set of legalized company documents consisting of:
    • Copy of constitutional documents (Certificate of Incorporation, Articles, etc.).
    • Copy of Corporate Register (which shall include Register of Shareholders, Directors and Secretary).
    • Copy of the Corporate Structure.
    • Certificate of Good Standing.

    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.

    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.
    Shipping of banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and can vary from USD 75 to USD 95. The fees depend on the jurisdiction where the bank is based as well as your destination country.

  • About the Bank

    USB Bank PLC, originally Yialousa Savings Bank, was established in 1925 in Yialousa, Cyprus. The bank provides an array of banking services and products and has currently a total of 14 branches and 17 ATMs around Cyprus.

    In 1974, the bank became supervised by the Central Bank of Cyprus; however, its operations were brought a halt due to the Turkish invasion. The bank resumed its operations in 1990. In 1996, 30% of the bank’s shares were acquired by Universal Life and the bank changed its name to Universal Savings Bank Ltd. In 2009, the bank was renamed USB Bank PLC.

    In 2010, BLC Bank SAL began to acquire share capital of the bank. BLC Bank SAL is a Lebanese financial institution and a member of the largest banking group in Lebanon, Fransabank. In 2016, BLC Bank SAL had acquired 99.25% of its share capital. In 2017 the bank opened a representative in Moscow.

  • Facilities


    • Current Accounts
    • Deposit and Savings Accounts
    • Loan Schemes
    • Credit Facilities
    • Trade Services
    • Treasury Services
    • EIB Loans
    • E-Banking Facilities
    • Digipass
    • Visa Prepaid/Credit Cards
    USB Bank is considered as a medium-cost bank with respect to the incoming/outgoing payment transfers and account maintenance fees. The incoming transfer fees for SEPA payments in EUROS is between EUR 0- EUR 30. The fee for incoming SWIFT payments in foreign currency is between EUR 15 - EUR 30. The outgoing transfer fees of SEPA payments in EURO is between EUR 6 - EUR 500. The fee for outgoing SWIFT payments in foreign currency is between EUR 10 - EUR 1000. The account maintenance fee for a corporate account is EUR 50 per quarter. For a personal account, the maintenance fee is EUR 100 per year.

  • PLEASE NOTE: The bank tariffs may change at anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
  • The STARTING BUSINESS professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.