Cyprus

EU context: compliance, source-of-funds checks, and account positioning.

Typical account options

• Personal accounts (resident vs non-resident)
• Business accounts (local company vs foreign company)
• Multi-currency accounts (availability varies)

Common requirements (KYC/AML)

• Passport and proof of address
• Source of funds / source of wealth evidence
• Business documents (if corporate) and transaction rationale

Practical tips

• Prepare a short profile: who you are, why this jurisdiction, expected activity
• Avoid surprise crypto exposure—disclose and document it clearly if relevant
• Expect ongoing reviews; keep documentation updated

Common misconceptions

Offshore banking is not anonymity. Most reputable banks follow strict compliance and international reporting rules.