One of the smallest member countries of the European Union and also a member of the Euro Area (also called as Eurozone), Cyprus is an international financial and banking hub. The country has been recovering fast from the recent financial crisis which affected most of the banks due to the dedication of the banks to regain their lost glory.
The country boasts of a highly developed banking system that has a tremendous amount of experience in dealing with International clients and High Net worth individuals and it aims to use this experience to regain the glory of the banking system. The efforts have yielded fruits and a number of international financial experts have shown renewed confidence in the Cypriot banking system.
The Banks in Cyprus are regulated by the Central Bank of Cyprus (https://www.centralbank.gov.cy/ nqcontent.cfm?a_name=home).
As a member of the Eurozone, a limited degree of control, particularly in currency matters, is also maintained by the European Central Bank. There are presently seven Local Banks and a large number of foreign Financial Institutions working in Cyprus, a detailed list of which is available from the Central Bank at https://www.centralbank.gov.cy /content.cfm ?a_id=8154.
English is spoken as a major language in almost all of the Cypriot Banks with Russian, French, and German also in use in certain banks.
Empire has a team of experts who can assist you with all your banking needs and the entire process of introduction and opening a bank account in Cyprus with minimum hassles.