# Ancoria Bank: Business account

> A Cypriot bank with business current accounts for companies and the self-employed: euro and other currency accounts, SEPA, SEPA Instant and SWIFT payments, Visa debit cards, payroll and trade services. Accounts are opened by appointment; non-residents follow a separate document route.

Finzil profile: https://finzil.com/providers/ancoria-bank · Provider website: https://ancoriabank.com · Facts checked: 2026-10-20

## Key facts

- **Monthly fee:** €5 (€15 a quarter; €25 for non-residents)
- **Setup fee:** Free (€100 to €1,000 for complex structures)
- **Onboarding:** 3–5 days (typical)
- **Provider type:** Bank
- **IBAN:** Cypriot IBAN in the company's name
- **Payment rails:** SEPA, SEPA Instant, SWIFT
- **Cards:** Visa debit card
- **Safeguarding:** Deposit guarantee (Cyprus)
- **Remote opening:** In person (By appointment at a business banking centre)
- **Headquarters:** Cyprus

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Not published. Non-residents of Cyprus can open an account through a separate document route; their account costs €25 a quarter instead of €15.
- **Countries of incorporation accepted:** Not published
- **Countries of incorporation refused:** Not published
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Companies, Self-employed people

## Industries

- **Industries served:** Startups and SMEs, Import and export, Holding companies, Professional services
- **Prohibited industries (provider's own list):** Not published

## Licences

- Cyprus: Central Bank of Cyprus, Credit institution, Ancoria Bank Limited (https://www.centralbank.cy/en/licensing-supervision/banks/register-of-credit-institutions-operating-in-cyprus)

Safeguarding: Ancoria Bank Limited is a credit institution licensed by the Central Bank of Cyprus. Eligible deposits are covered by the Cyprus Deposit Guarantee and Resolution of Credit and Other Institutions Scheme up to €100,000 per depositor.

## Fees

Source: https://www.ancoriabank.com/wp-content/uploads/admin/2021/03/Commission-and-charges.pdf (checked 2026-10-20)

### Plans

- **Business current account (Cyprus resident):** 5 EUR a month
- **Business current account (non-resident):** 8.333333333333334 EUR a month

### Incoming

- SEPA: Free · Up to €10,000; €4 to €20,000, €10 to €50,000, €25 above

### Outgoing

- SEPA: Not published · By amount and channel; see the price list
- SWIFT / international: Not published · By amount and channel; see the price list
- To another Ancoria Bank account: Free

### Currency exchange (FX)

- FX markup: Not published

## Opening an account

Opening an account typically takes three to five business days.

1. **Appointment.** Book an appointment with a business banking centre.
2. **Documents.** Bring the company documents and the owners' identity and address papers; non-residents follow their own document list.
3. **Checks.** The bank reviews the company and its owners.
4. **Account live.** The account is opened and the Visa debit card and myAncoria online banking are set up.

Documents: Not published

## Pros and cons

- Pro: A licensed Cypriot bank, not an e-money account
- Pro: Low maintenance fee: €15 a quarter for Cyprus companies
- Pro: Free incoming SEPA payments up to €10,000
- Pro: Payroll, trade finance, deposits and loans from the same bank
- Pro: A document route for non-resident owners and companies
- Con: Opened by appointment, not online
- Con: Non-resident accounts cost €25 a quarter
- Con: Complex corporate structures pay €100 to €1,000 to open
- Con: A €50 KYC update fee at each review
- Con: No list of refused industries or countries published

## Finzil's take (opinion)

Ancoria is a small Cypriot bank that still opens business accounts for non-resident owners, with low quarterly fees. It works by appointment and asks for a full document file, so it suits companies that need a real EU bank account rather than a quick app.

## Alternatives

- [Bank of Cyprus](https://finzil.com/providers/bank-of-cyprus): Bank · Cyprus
- [Eurobank Cyprus](https://finzil.com/providers/eurobank-cyprus): Bank · Cyprus
- [Revolut Business](https://finzil.com/providers/revolut): Bank · UK, Lithuania
- [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium

## FAQ

**Is Ancoria Bank a bank?**

Yes. Ancoria Bank Limited (HE 324539) is a credit institution licensed by the Central Bank of Cyprus. Deposits are covered by the Cyprus deposit guarantee scheme up to €100,000.

**How much does an Ancoria business account cost?**

Maintenance is €15 a quarter for companies and self-employed people resident in Cyprus and €25 a quarter for non-residents. Opening a complex-structure company account costs €100 to €1,000, agreed in advance; a KYC review costs €50.

**Can non-residents open an account?**

Yes. Ancoria's business page has a separate document list for non-Cypriot residents; acceptance is subject to the bank's review.

**Can I open the account online?**

No. The business page asks you to make an appointment.

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