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Opening a Business Account in Cyprus

  • Open a business account online in Cyprus with a unique IBAN
  • For EU and non-EU residents
  • SEPA and SWIFT payments supported
  • 24/7 access to your EU business account
  • Protect your funds with 3D secure and 2FA
  • No hidden fees
Laptop with online account for business

Solutions for corporate needs

Save funds

Deposit funds for future business purchases and other expenses

Transact with ease

Manage your daily transactions with clients, partners, and suppliers

Invest smartly

Invest your dividends or extra earnings to increase corporate capital

Simplified accounting

Keep track of your account balance and transaction history for efficient and transparent bookkeeping

Remote business account opening in Cyprus

  • Simple online application form
  • Personal account management approach
  • Increased data protection

Payment cards that cover your needs

Physical and virtual cards for any purchases

Contactless payments

Payroll programs

ATM withdrawals worldwide

Tailor-made pricing

Multiple currencies for cross-border payments

No more separate accounts for each foreign currency. Send and receive money around the world in 38 currencies with a multi-currency IBAN linked to a single account.

We have offices in 4 European countries. Therefore, it was essential for us to find a unified system that would help to close all financial issues in each of them. Ideally, remotely, since it’s not very convenient to wander between countries for opening accounts and conducting business.
Satchel helps a lot with it. For the entire time of working with them, there were no questions. And you know, taking into account that as an advertising agency we really love questions, that’s actually great.

Viktor Shkurba

Payroll program

  • Batch payments using our API
  • Issue from 3 to 100 cards
  • Transfers directly from the Client office or the Satchel App
Salary project payroll
Corporate expenses solution
Reach out for more details

Our company operates worldwide and has been in business for over 20 years. We mainly use Satchel to make SEPA and SWIFT payments to our raw materials providers. I really like that we have been assigned a personal account manager who helps us with all processes and questions. In the age of chat bots, I really value this live communication. It’s also great that our money is stored in a segregated account, under full deposit protection of the Bank of Lithuania.

Alexander A.
Head of Development at Trading company

Payroll program

  • Batch payments using our API
  • Issue from 3 to 100 cards
  • Transfers directly from the Client office or the Satchel App
Salary project payroll
Corporate expenses solution
Reach out for more details

Discover the EU-China business direction

Make transfers in Chinese Yuan and Hong Kong dollars and expand your outreach to the Cyprus, European and Chinese markets. Both Cyprus and Chinese residents are eligible for account opening.

EU-China Payment Infrastructure

Accounts can be opened for residents of the EU, Cyprus, and China


Debit Mastercard card by Satchel

Meet the card you’ll love even more.

Link it to several accounts in different currencies

Pay in the currency of the transaction

Avoid currency exchange fees

Save your time

Safe & Sound

We adhere to highest EMI security standards to keep your money and personal data safe.

  • Client money is stored on a segregated account with the National Bank of Lithuania
  • Funds protection using 3D secure and 2FA
Find out more
Bank card and personal data

Choose the business account that suits you best

Choose your business account


LT residents


EU residents


UA residents


non-EU residents

Monthly maintenance fee € 4 € 35 € 5 € 50
Additional account opening (sub-account) € 50 € 50 € 50 € 150
Instant transfers between Satchel users Free Free Free Free
SEPA transfers (incoming) Free Free Free Free
SEPA Instant transfers (incoming) Free Free
SEPA transfers (outgoing)
SEPA Instant transfers (outgoing)
SWIFT transfers (incoming/outgoing)
Mastercard physical card
Virtual cards
Cash withdrawals across the globe
Mobile banking APP
In-app live chat support
All your money is protected by the Bank of Lithuania 100% Secure 100% Secure 100% Secure 100% Secure


What is a business account?

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A business (corporate) account is a type of financial account specifically designed to meet the needs of businesses. It is opened in the name of the company and is typically used for corporate transactions with partners, suppliers, and customers. With a corporate account, businesses can:

  • Make payments (SEPA and SWIFT);
  • Implement salary projects with payment cards (plastic and virtual);
  • Get a variety of additional benefits, such as simplified reporting, auditing, and bookkeeping, etc.

Modern business accounts offer features such as online and mobile banking, allowing users to open an online account with no paperwork.

How to open a business online account in Cyprus?

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Opening a corporate account in Cyprus is straightforward.

You have two choices: traditional banks or neobanks/EMIs like Satchel. The accounts available in both options offer the same functionality, as they provide a unique IBAN for conducting essential financial operations for your business.

The main difference between the two is the speed, convenience, and ease of account opening. With an EMI, the entire process is done online, from submitting the form to scanning documents and completing the onboarding.

At Satchel, corporate account options are available to both EU and non-EU residents, so you won’t need to make a trip abroad to open an account in person.

What documents are required to open a Business account?

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You will need to provide the following documents to open a business account with Satchel:

1. The online application form.
2. Copy of the business owner’s passport or ID (only for citizens or residents of the EU or the EEA).
3. Proof of address.
4. A detailed business description.
5. Corporate documents.
6. Supporting documents on clients/suppliers.
7. Documents with supporting information about initial funding.
8. Verification through the Ondato solution.

For more information, please visit the link.

Can I open a business account in Cyprus?

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Yes, you can open a business payment account in Cyprus. Remote account opening has the following stages:

  • Application form submission: Click “Open business account”, fill in the application form and upload the required documents;
  • Onboarding: The time required to review your application form by our Compliance department.
  • Once you submit your application, you will be emailed a link to create a password for logging into your account. This link will be valid for the next 24 hours.
  • After reviewing your application, we will notify you by email of the outcome of the onboarding process.
  • Unlike most of the traditional banks, we do not charge any fees for onboarding. We charge you only if your onboarding is successful according to the applicable fees.

Where is the Satchel Business account available?

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Satchel provides digital financial solutions to customers all over the world. We welcome customers of any nationality. However, there is a list of countries that we do not onboard clients from. Please check our Blacklisted jurisdictions page to make sure your country is not listed.

Always at your service

For issues or questions, check out our FAQ page or contact us via phone, email or app chat.

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