In May 2025, Eurobank completed the acquisition of Hellenic Bank, acquiring 100% of the shares through a squeeze-out procedure approved by the Cyprus Securities and Exchange Commission (CySEC). The merger under the Eurobank brand marks a new era for the Cypriot banking sector, strengthening its position as a European financial center for international business.
But what exactly will change for customers? How will the merger affect the process of opening accounts in Cyprus? Let's take a look at the key aspects.
What will change after the merger of Eurobank and Hellenic Bank?
Improved digital services
- The combined Eurobank is investing in modernizing its banking platforms. Customers will be able to expect:
- more convenient interfaces for submitting applications;
- faster document verification process;
- enhanced remote account management capabilities.
Faster account opening
Due to the consolidation of resources, the bank promises to reduce the time for opening both personal and corporate accounts. This is especially important for foreign companies seeking to quickly start operations in Cyprus.
Extended range of financial services
- Customers will have access to a wider range of products, including:
- favorable conditions for cross-border payments (SEPA, SWIFT);
- specialized accounts for IT, financial and trading companies;
- improved asset management and investment services.
Transition and rebranding
While Hellenic Bank is being integrated into Eurobank, there may be temporary delays in processing applications or changes in procedures. Clients who have already been serviced by Hellenic Bank may need to update their documentation or adapt to the new digital systems.
Alternative: Opening an account at Bank of Cyprus
For those who want to avoid possible inconveniences during the transition period, Maira Consult offers a reliable alternative - opening personal and corporate accounts at Bank of Cyprus, one of the leading banks in Cyprus.
Bank of Cyprus is distinguished by:
- fast account opening process;
- flexible conditions for international business;
- stable reputation and support for cross-border operations.
This is an ideal choice for Ukrainian entrepreneurs looking to quickly launch a business in Europe.
How to open a bank account in Cyprus in 2025?
The procedure of opening an account in Cyprus in 2025 will remain clearly regulated, regardless of whether you choose Eurobank or Bank of Cyprus. Here are the main steps:
Preparation of documents
You need to collect a standard package of documents:
- passport or ID;
- proof of residence address;
- corporate documents (for companies);
- proof of the source of funds (bank statements, contracts, etc.).
Conformity of business activities
The bank must clearly understand what the company's activities will be and how the account will be used. It is necessary to provide:
- contracts with counterparties;
- invoices;
- description of the operating model.
Know Your Client (KYC)
According to European regulations, it is mandatory to verify the identity of the account holder. As a rule, a personal visit to:
- a representative office of the bank in another country (for example, Bank of Cyprus has a representative office in Kyiv);
- the Cyprus Consulate;
- or a bank branch directly in Cyprus is required.
Ready to open an account in Cyprus?
With Maira Consult you will receive:
- Fast opening of an account with Eurobank or Bank of Cyprus
- Professional support from experienced lawyers
- Company registration with an effective corporate structure
- Access to a stable and transparent Cypriot financial environment.
Contact us for a free consultation.
