Information on setting up bank account

[patch]

Hi my wife and I are thinking of moving to the paphos area. We are looking for property to buy when we visit in september for a holiday and we are wondering on how easy it is to set up a Bank account and to what documentation we need to bring with us to set one up.Also Can anybody recommend a reputable company or person that we could contact when we arrive to show us property. Thats all just now thank you

[andyandsheila]

We found it easy via Bank of Cyprus International unit Paphos, do you want details

[patch]

Originally Posted by andyandsheila

We found it easy via Bank of Cyprus International unit Paphos, do you want details

yes please that would be great

[andyandsheila]

Bank Of Cyprus
International Business Unit
PO Box 60034
CY-8123
Paphos
TEL: 357 2684 6145
our contact Maria Skoulia
email maria.skoulia@cy.bankofcyprus.com

Glad to be of help and good luck let us know when you are over and I'll buy you a Keo (Beer)
Regards
Andy & Sheila

[grumpy]

Good afternoon,

Bank accounts are easily available and easy to join. Most of the banks have plentiful highstreet outlets and a multitude of cash machines. You can have accounts with as many different banks as you wish, so its often worth looking around to see who has the best deals for you.

Things to bear in mind are: If you are needing a mortgage, should all your eggs be put in one basket,
Secondly, if you are going to be out of the country, which bank has the best online service for you. I also use the BOC in Kennedy Square, Paphos as the online service is top notch.

(SNIP)

[tallguy]

I used this company and they were very good.
Cyprus Home Finders
cyprushomefinders dot co dot uk

[tallguy]

Forgot, If you're buying property, the agent should take you to the bank and electricity board, council, etc.
What I'm saying is, there is little point doing it on your own before hand. Though if you do, it's very simple, just pop down to the nearest bank.

[grumpy]

Patch, you can open several acounts yourself, dont necessarily use the bank arranged by your developer of agent if you feel incomfortable. Remember there can often be a considerable back scratching culture which is not always to your advantage. As for properties, we would be delighted to show you round a few, click link below.
Doug

[BabsM]

Hi
To open a bank account all you need to do is to walk into a bank and show your passport as proof of identity. They may ask for a copy of a rental agreement or contract of purchase as proof of address.

As regards someone to show you round properties, you will find as many estate agents in Cyprus as you would in England. They have to be licenced and are not able to sell property without, unlike England. BuySellCyprus is one of the biggest on the island and has many offices all over the island, as does Investia which is also big. All of their offices are helpful.

At the moment all estate agents are under pressure because the market is very flat. They may pressure you to make a decision quickly. Please take your time. Irrespective of what you may be told there are may lovely properties out there and it is not necessary to rush into a decision unless it is what you want. You might also like to look for private for sale notices. There are may people trying to sell privately and you may get a bargain.

Good Luck

Babs

[Veronica]

Hi Patch,
As others have already said you can open an account in bank very easily as long as you have your passport with you which they will make a photcopy of for their records.
You do not neccessarily need to have rental agreements or contracts of sale however as we opened an account without either of those things when we first came to look at properties a few years ago. At the time Cyprus was not a member of the EU and it has become even easier since then.
If you need a mortgage to buy a property it is often easier to get one with the bank that your developer uses but it is isnt an aboslute requirement(just makes things less complicated).
We have a contact who deals with all of the banks to find people the best mortgages for their needs, he charges about £300Cyp but can save you thousands.
If you need any advice at all please feel free to ask.
You can contact me via our website, also you might like to look at the properties on there.

Regards Veronica