R.I.P.
Account with Marfin Laiki Bank
Cyprus is currently one of the most popular countries for registering an international business. The Republic of Cyprus is simultaneously 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 the winner 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 cost | 270 EUR |
| Terms | – 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 English-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 |
| Internet banking implementation | Key generation |
| Plastic cards | Business Visa (classic) Card & Fly Business Credit Visa (Gold) – requires a deposit of 1000 EUR |
| Initial deposit amount | Not set, usually 200-300 EUR |
| 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 drastically 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 EUR per quarter |
| Commission on transactions | Up-to-date information on the bank’s website |
| Cost of key generator | Issuing a corporate Security Token – 40 EUR Individual Security Token – free |
| Card cost | Business Visa (classic) – 10 EUR Card & Fly Business Credit Visa (Gold) – 70 EUR |
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 want to open a bank account in Cyprus, including for acquiring payment cards. Below are the lists of documents required to open accounts in both cases:
List of documents required to open a corporate account with a personal presence:
• Originals of company documents apostilled (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 a personal presence:
• Originals of apostilled corporate documents (listed above)
• Company stamp
• Originals of foreign and domestic passports for company members, including the account manager
• Information on 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 a 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 above documents must be translated into English and certified by an apostille; the specialists of our company will be happy to carry out these procedures for you. Contact us and we will open an account for you as soon as possible.
