R.I.P.
Account with Marfin Laiki Bank
Cyprus is one of the most popular jurisdictions for international business registration today. The Republic of Cyprus is both a low-tax jurisdiction, a member of the European Union, and has a double taxation treaty with the Russian Federation. All this makes Cypriot banks very popular among domestic entrepreneurs and individuals. Our company cooperates with the three largest Cypriot banks and is ready to open an account for you, perhaps in the most convenient of them – an account with Marfin Laiki Bank.
Opening an Account with Marfin Laiki Bank
Marfin Laiki Bank was founded in 1901. It covers 40% of the market for all banking services in Cyprus. It has branches and representative offices in many European countries, as well as in Canada, the USA, South Africa, and others. And in 2009 it became a laureate of the “Best Banking Awards 2009”.
A foreign currency account with Marfin Laiki Bank is a convenient solution for residents of Moscow and many other cities of Russia, due to the possibility of withdrawing funds without commission in cash at ATMs of several banks at once. The bank also cooperates with our electronic payment system for bank cards to organize the acceptance of payments on the website. A current account with Marfin Laiki Bank can be opened in more than 30 world currencies.
The following table provides basic information for those wishing to open an account with Marfin Laiki Bank:
| Account opening fee | 270 euros |
| Timeframes | – account number is provided within 1 day – security token (electronic key) 5-7 days * the total time required to fully open and activate the account, including Internet banking 7-15 days |
| Presence at the bank | Not required |
| Availability of Russian-speaking staff | Yes |
| Branch or representative office in Moscow | Representative office |
| Representative offices in other European countries | Greece, Serbia, Romania, Malta, UK, France |
| Internet Banking | LAIKI eBANK system |
| Implementation of Internet banking | Key generation |
| Plastic cards | Business Visa (classic) Card & Fly Business Credit Visa (Gold) – requires a deposit of 1000 euros |
| Initial deposit amount | Not set, usually 200-300 euros |
| Official website | www.laiki.com |
For IT companies interested in connecting to offshore processing centers and payment acceptance services, it may be interesting that opening a corporate account with Laiki Bank dramatically reduces the number of checks in such a friendly structure as the JCC Payment Systems payment system and processing.
Below are the tariffs for the main services of Marfin Laiki Bank:
| Account maintenance fee | 30 euros per quarter |
| Transaction fee | Up-to-date information on the bank’s website |
| Cost of key generator | Issuance of a corporate Security Token – 40 euros Individual Security Token – free of charge |
| Cost of cards | Business Visa (classic) – 10 euros Card & Fly Business Credit Visa (Gold) – 70 euros |
Current account with Marfin Laiki Bank
Marfin Laiki Bank is an excellent choice for opening current and merchant accounts both for a company registered in Cyprus and for individuals who are not residents but wish to open a bank account in Cyprus, including for acquiring payment cards. Below are lists of documents required to open accounts in both cases:
List of documents required to open a corporate account with personal presence:
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Originals of company documents under apostille (certificate of registration, company charter, appointment of the first director, power of attorney for the account manager, trust declaration, Certificate of Goodstanding and Certificate of Incumbency (for companies over one year old), Share Certificate, Share allotment)
• Company stamp
• Copy of the passport of the beneficiary of the company
• Internal and foreign passports of the account manager
List of documents required to open a corporate account remotely without personal presence:
• Originals of corporate documents under apostille (listed above)
• Company stamp
• Originals of foreign and internal passports for company members, including the account manager
• Information about the purpose of opening an account
• Description of the company’s activities
• Annual turnover (approximate) in dollars and euros
• Expected number of payments
• Information about business in Cyprus (if any)
• Brief information about the beneficiary
• List of possible counterparties (with whom transactions are planned on this account) and their countries of location
List of documents required to open a personal account remotely without personal presence:
• Notarized copy of the account manager’s document (passport, international passport)
• Information from the bank about the availability of funds in the account of the person managing the account
• Copy of the utility bill of the account manager (as a document confirming the address of residence)
To open an account with Marfin Laiki Bank, all of the listed documents must be translated into English and certified by apostille, these procedures will be gladly performed for you by the specialists of our company. Contact us and we will open an account for you as soon as possible.
