How to open a bank account in Bank of Cyprus Plc

• Instruction of the Central Bank of Cyprus dated June 2018: a ban on opening accounts with shell companies;
• the bank opens current accounts;
• opens accounts for offshore companies in the presence of audited statements (or the intention to keep them) and confirmation of tax residency in the country of doing business;
• an account can be opened at a representative office of the Bank in Moscow;
• there are no minimum balance requirements;
• the term for opening an account – case by case (check with the consultant);
• the documents required to open an account are sent for certification to Cyprus;
• Currently, the Bank does not open accounts for US citizens.

Following the decisions of the Eurogroup meeting on 25 March 2013 and the decrees issued by the Central Bank of Cyprus, the Bank was under Resolution from 25 March 2013 until 30 July 2013, a period during which it was recapitalised and restructured. The recapitalisation was implemented via the bail-in of depositors, through the conversion of 47,5% of uninsured deposits into equity. In addition, the holders of ordinary shares and debt securities issued by the Group as of 29 March 2013 have contributed to the recapitalisation through the absorption of losses