Cyprus bank account personal open for Indians?

[vinjansos]

Hi I'm from India and want to open a personal Cyprus bank account is that possible?

 

[JohnLocke]

Yes sure you can, as long as you can provide a valid passport or other government issued photo ID and a utility bill not older than 3 months in English (if not in English a notarized utilitybill will be required) there are no problems at all.

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[vinjansos]

Is the account multi currency I need USD and EUR?

 

[JohnLocke]

Yes, almost all banks have multi currency bank accounts that can be hold in the major currencies ie USD,EUR,GBP etc.

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[vinjansos]

Thats great and can I accept credit cards too?


What about Debit Card for spending money on Internet and withdraw in ATM?

 

[EliasIT]

You should have a look at this thread /forum/f15/cyprus-bank-account-do-we-get-debit-card-13476/ which will answer some of your questions 😉 Welcome to the CCLOGIC forum:hello:

Last edited by a moderator: May 29, 2016
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[JohnLocke]

Yes all banks offer a Debit card! They don't offer any merchant account or processing payments! You will need to get this service through another bank or with some of the many payment processors out there.

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[vinjansos]

Thank you eliasit.


What about Internet Banking can I make Wire Transfer to foreign country like India or do I need to call the bank or send fax?

 

[snowbird]

I don't have a passport can I still apply for a bank account in Cyprus?

 

[JohnLocke]

vinjansos said:
Thank you eliasit.
What about Internet Banking can I make Wire Transfer to foreign country like India or do I need to call the bank or send fax?
Click to expand...

Yes you can send Wire Transfers directly from your English language e-banking access from where you as well can manage all your day to day banking.

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[JohnLocke]

snowbird said:
I don't have a passport can I still apply for a bank account in Cyprus?
Click to expand...

If you don't have a passport it is required to have some other valid government issued photo id, be prepared that some banks will required this ID to be notarized and may as well require additional documents from a lawyer.

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[vinjansos]

Thank you! is it a Visa or Mastercard Debit card the banks offer or it is different from bank?

 

[JohnLocke]

Most banks offer a Visa or Maestro Debit card! As you mentioned it depends very much on which bank the account is opened with.

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[vinjansos]

Debit card can all be used in ATM's right?


So last question what about monthly fees and wire transfer fees are they expansive and can I withdraw paypal payments to the cyprus bank account?

 

[JohnLocke]

Debit card can all be used in ATM's right?
Click to expand...

Yes correct

So last question what about monthly fees and wire transfer fees are they expansive and can I withdraw paypal payments to the cyprus bank account?
Click to expand...

We learned from another thread here on the forum that PayPal is country specific so you will need some sort of Cyprus VPN/proxy thing to make that happen.

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[vinjansos]

Perfect, but you didn't answered my question about the fees?


So I need a Cyprus VPN for what reason if I have Cyprus bank account and I can add this to paypal why do I need VPN?

 

[EliasIT]

Have a look at this thread /forum/f2/solution-paypal-13380/


Also you can't add a Cyprus bank account to Paypal without a company or at least some Virtual office in Cyprus, paypal will reject or close your account.

Last edited by a moderator: May 29, 2016
Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[vinjansos]

Thank you I had a look at this other thread everything is clear to me know.

 

[snowbird]

Is it secure to use a VPN to access PayPal I don't get it clear? What happen if they find out that I use a VPN?

 

[EliasIT]

With the right VPN provider it is not an issue. If they find you cheating them you will get you account closed (I assume that will be the case, never tried it) !

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.