Cyprus is one of the most interesting and reliable international financial centers in the world. The benefits for setting up an international company in Cyprus are:
- The favorable tax incentives that have made the island attractive to both businessmen and investors wishing to expand internationality.
- A highly educated work force with an advanced western banking and financial system.
- The creation of the free trading zones.
- The island's strategic location, excellent infrastructure and advanced legal system.
- The opportunities to combine business with pleasure
- The excellent communications and telecommunications systems.
- The friendliness and hospitality of the people
- The low cost of living.
International Banking Service Units
Most of the local banks have created specialized IBU's (International Banking Units) in order to maximize the effectiveness of the service offered to their international clients. These units are staffed with well-qualified and experienced personnel and they are supported by advanced technological systems, thus ensuring the provision of high quality and efficient service. Apart from the comprehensive range and specialization of banking services provided, the specialized officers can provide professional assistance and personal advice on financial matters as well.
Product and Services
1. Non-Resident Accounts
- External Accounts held in Cyprus Pounds in the form of current, notice, fixed or savings account.
- Foreign Currency Accounts held in any convertible currency as current, notice, fixed or multicurrency accounts with competitive interest rates.
- Multicurrency cheque accounts in any of the following currencies: GBP, USD and EUR.
- Local Disbursement current account in CYP with a cheque book to allow immediate to funds.
2. Trade Facilities
- Letters of Guarantee issued on behalf of customers such as:
Advanced Payment guarantees
Guarantees for the due payment of documents or tenor drafts and the delivery of goods any other type guarantee
- Documentary Credited can be arranged on behalf of customers in any part of the world
Bills for Collections
3. Foreign Currency Loans
- Short and long term loans in all major currencies in the following categories:
4. Personal Banking Services
- Bank Cards
- Issue and purchase of travelers cheques in all major denominations
- International money transfers and issue of bankers drafts
- Direct Debits
5. Specialized Products & Services
- Investment banking
- International Factoring
- Private banking
- Dealing services
- Investment Advisory services
- Trustee services
- Internet Banking
The local banks maintains extensive international presence, cooperating with a large number of reputable banks and International partners around the world.
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