Can you introduce me before I move?

Yes, the partner can prepare your pack while you're in the UK. The account itself is usually opened once you're living in Cyprus; Bank of Cyprus says it doesn't offer consumer products to people in the UK.

Do I need a residence permit first?

Not always. Many banks open accounts with a passport, lease and TIC. Having your ARC or proof of application makes things easier, and the legal right to a basic account depends on legal residence in the EU.

What is a bank reference letter and how do I get one?

It's a short letter from your UK bank confirming you've been a customer in good standing and for how long. Cyprus banks usually want one dated within 3 months. Ask your UK branch or online banking support for it before you leave, as some banks take two weeks to send it.

How much do bank introductions in Cyprus cost?

Ours is free to you; the partner pays us a referral fee. Some law firms charge for full account-opening support, with at least one publishing fees from €1,000 plus VAT. Be wary of anyone charging upfront and promising approval.

Which bank will you recommend?

It depends on your income and where you live. We don't name one bank for everyone; the partner explains why a bank suits you.

Can you help with a company account too?

Yes, through our company bank account service. It's a separate process with UBO and business-plan checks.

Services · Banking

Cyprus Bank Introductions: Open Your Account Without the Cold Walk-In

A Cyprus bank introduction puts you in front of a named contact at a bank that regularly opens accounts for UK clients, with your document pack checked first. It won't bypass compliance, but it cuts repeat visits. Free to you.

Vetted, licensed partners
Free introduction
Referral fees disclosed

Request an introduction

Free. I reply personally within one working day.

Cyprus bank introduction: the short version

What it is: a free introduction to a named contact at a Cyprus bank that regularly opens accounts for UK clients.

What happens first: a partner checks your KYC pack: passport, lease, Cyprus tax number, UK bank reference and proof of where your money came from.

What it can't do: skip anti-money-laundering checks or guarantee approval. The bank decides.

Typical timeline: 3–4 weeks to a working current account; a basic account must be decided within 10 working days of a complete application.

Who a Cyprus bank introduction is for

A bank introduction helps most if you're in one of these groups:

UK-only passport holders who moved after 2020 and are treated as third-country nationals
Retirees paying a UK pension into Cyprus, who need to show pension income and source of savings (see UK pensions in Cyprus)
Remote workers paid by a UK or overseas employer, including digital nomad visa holders
Property buyers who need a euro account for a deposit and completion (see buying property in Paphos)
anyone who has already been sent away once for a missing document

If you're an EU citizen with a Cyprus salary and a simple paper trail, you may not need us. Our free guide to opening a Cyprus bank account covers the DIY route, and our banking services page covers company accounts and moving money. If you're unsure which residence permit you'll hold, the relocation route finder helps, because it changes what the bank asks for.

What you get

A bank that fits your income

The partner matches you to one of the main banks: Bank of Cyprus, Eurobank (the former Hellenic Bank), Alpha Bank Cyprus or Ancoria Bank. The choice depends on your income type, the branch near you, and how each bank treats non-EU customers.

A checked document pack

Before you book, the partner checks your pack against the bank's KYC list, so you arrive with everything the first time.

The document pack we check

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Passport, and ARC or residence permit if issued
Cyprus lease or title deed
Utility bill in your name, within 3–6 months
Cyprus Tax Identification Code (TIC)
UK bank reference letter, within 3 months
Proof of income: payslips, pension letter or tax return
Source of wealth: sale completion statement, investment statements
6–12 months of UK bank statements

Source-of-wealth evidence: what to bring for your money

This is where most applications stall. Match each large sum you're bringing to Cyprus with the paper that explains it.

Where the money came from	Evidence banks usually accept	Get it before you leave the UK
Sale of a UK home	Solicitor's completion statement, plus the bank statement showing the proceeds arriving	Ask your conveyancer for a signed copy
Pension lump sum or drawdown	Pension provider's payment letter and statement	Request it when you take the lump sum
Regular pension income	Award letter (State Pension) or annual statement (private pension)	Download from your provider or the DWP
Inheritance	Grant of probate or will, and the estate account statement showing payment	Ask the executor or solicitor
Savings from salary	Payslips or P60s and 6–12 months of bank statements	Download statements before closing UK accounts
Investments sold	Broker or platform statements showing the sale	Download the contract notes
A gift from family	Signed gift letter plus the giver's bank statement	Ask before they transfer

Each bank sets its own KYC list and may ask for more. Documents not in English or Greek need an official translation.

A named contact

You're introduced to a specific person at the branch, who knows what account you want before you arrive.

Follow-up

If compliance asks for more evidence, the partner helps you answer in the format the bank wants. A basic payment account must be decided within 10 working days of a complete application; a full current account usually takes 3–4 weeks.

Sunlit café courtyard with a lemon tree and wrought-iron tables in Paphos old town — A quiet café courtyard in Paphos old town.

How it works

01
5 minutes
Request
Tell us your passport, residence route, income and move date.
02
Match
We pass you to a vetted partner who works with UK clients.
03
Pack check
The partner reviews your documents and tells you what's missing.
04
Introduction and appointment
You meet a named contact at the bank.
05
Account open
IBAN, card and online banking, typically in 3–4 weeks.

Free pack check

Not sure your paperwork is enough?

Send us a list of what you have. A partner will tell you what's missing before you book the appointment.

Request a bank introduction See banking in Cyprus

What it costs

The introduction is free. If you use the partner, they pay Paphos Advisor a referral fee, as our referral disclosure explains. If the partner offers a paid service, such as attending the branch with you, they quote in writing first.

Bank charges are separate and set by the bank:

Item	Typical cost (2026)
Opening an account	Normally free
Standard current account	About €24–36 a year
Basic payment account	Capped at €36 a year
Non-resident account	Higher; e.g. €100 a year at Ancoria

Ask for the bank's Fee Information Document before you sign.

Good to know

What an introduction can't do

No introducer can skip anti-money-laundering checks, and no honest one will promise an account. If your savings have no paper trail, fix that first: a completion statement, a pension provider letter or an inheritance letter usually does it.

At a glance

Introduction fee

€0

Typical time to a working current account

3–4 weeks

Deposit protection per person, per bank

€100,000

Banking introduction partners

Vetted specialists who prepare UK clients for Cyprus bank KYC.

Licensed and regulated

Registered with the right Cyprus body — Bar Association, ICPAC, CySEC or the Estate Agents Council.

Fluent with UK clients

They know HMRC, UK pensions and how British clients expect to be kept in the loop.

Vetted in person

I’ve worked with them or checked their work with people I trust. No paid listings.

Fees disclosed

If a partner pays a referral fee, I tell you before the introduction.

Partner profiles are shared privately, matched to your situation.

Request an introduction

Bank introduction questions

Usually, because you arrive with a complete pack and a named contact, which avoids repeat visits. The compliance review still takes its course.

Free introduction

Request a bank introduction

Tell us about your move and income. We'll pass you to a vetted partner who'll check your pack and introduce you to a named bank contact.

Bank matched to your income type
KYC pack checked before your appointment
Free, no obligation

Founder-led. Replies within one working day.

Sources checked for this page

1.Central Bank of Cyprus — Register of credit institutionsGovernment
2.Central Bank of Cyprus — Payment accounts law (basic accounts, fees, switching)Government
3.Bank of Cyprus — Open your first account through the appGovernment
4.Bank of Cyprus — New customer applicationGovernment
5.GK Law Firm — How to open a Cyprus bank account (document list, fee benchmark, updated June 2026)Professional

Written by

Jason

Founder, Paphos Advisor

British founder who moved his family from the UK to Paphos in 2025. I write down what I learned doing it properly — the tax, the residency and the living-here detail — and introduce people to the specialists I’d use myself.

How I research and fact-check

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