Is your company active in a high-risk sector such as iGaming, crypto, or the adult entertainment industry?
Setting up your business in Cyprus is relatively simple; obtaining a bank account and a current account for companies operating in a 'high-risk' sector is the biggest challenge. Traditional Cypriot banks will outright reject your company due to strict AML regulations.
At Cyprus-Consult, we bridge this gap. We bypass local retail banks and connect you directly with our carefully selected network of Tier 1 Electronic Money Institutions (EMIs) and Payment Service Providers (PSPs) that explicitly welcome high-risk sectors.
We handle the complex pre-approval procedures (pre-compliance audit) to ensure that your company in the high-risk sector can legally store funds, process card transactions, and operate without the risk of frozen assets.
If your company deals with high chargeback rates, processes cross-border transactions, or operates in highly regulated sectors, financial institutions will be quick to label this as “high risk”.
While many parties can indeed register your Cypriot Ltd., they often cannot assist you further when it comes to banking in the high-risk niche.
A business plan for, for example, an adult webcam site or an online casino, will be immediately rejected by a traditional Cypriot bank (such as the Bank of Cyprus or the Eurobank).
To operate successfully, you actually need two separate financial systems, and we offer complete integration for both:
This is your operating account.
You need a high-risk bank account to manage your company's capital, pay employees, settle B2B supplier invoices, and pay yourself dividends.
For high-risk companies, we secure these special IBANs via specialized, crypto-friendly EMIs in the EU that understand your industry.
This is your acquisition solution.
With a High-Risk Business payment account, you can accept Visa, Mastercard, and alternative payment methods from your customers on your website. High-Risk Business payment accounts have specific terms and conditions (typically 3%–7% transaction fees and a standing reserve of 5%–15% held for 90–180 days to cover chargebacks).
We negotiate these terms with specialized payment providers to guarantee you the lowest possible reservation costs.
Stop wasting time on banks that reject you anyway. Schedule a strategy session to find the right PSP for high-risk companies that aligns with your business model.
Are you encountering obstacles when opening a bank account for your company in the high-risk sector?
Cyprus-Consult can help you.
Various high-risk sectors face different compliance challenges. We tailor our banking applications to your specific niche.
The adult entertainment industry (tubesites, premium content subscriptions, webcam platforms, and dating apps) is under strict scrutiny by card networks (Mastercard/Visa) due to high chargeback rates and reputation policies.
The solution: Obtaining a bank account and payment provider for the adult industry requires specific Merchant Category Codes (MCCs) and robust age verification on your website.
We work with specialized acquirers who embrace the adult industry, so your funds are never blocked due to violations of the Acceptable Use Policy.
Online gambling, sports betting, and games of chance are strictly regulated. Even if your company is based in Cyprus, banks will closely check your gambling license (regardless of whether it originates from Curaçao, Anjou, Malta, or a local authority).
The solution: To open a bank account for a casino, compliance is essential.
We structure your AML (Anti-Money Laundering) framework and connect your Cypriot holding company or business to EMIs that explicitly support revenue from licensed iGaming. We ensure that your business IBAN can seamlessly process the enormous daily payout volumes from your payment provider.
Why are our high-risk customers approved, while others end up on the blacklist?
Before approaching our bank and PSP partners, our internal compliance team conducts a thorough pre-approval audit:
This pre-approval process shortens onboarding time from a frustrating 3 months to just 2 to 4 weeks.
In the “high-risk sector”, your bank account is of essential importance.
Let the Cyprus-Consult team handle the strict regulations and put you directly in touch with the financial institutions eager to do business with your company.
Relevant information
Any questions? Feel free to ask us!
A high-risk merchant account is a specialized payment processing facility designed for companies operating in highly regulated sectors or dealing with high chargeback rates (such as iGaming, adult entertainment, crypto, or forex).
With these accounts, high-risk businesses can accept credit card payments, although they typically require a revolving reserve fund and higher transaction fees than standard accounts.
Yes, it is possible to open a bank account in Cyprus for companies in the adult sector, but not through traditional local banks.
You must use specialized electronic money institutions (EMIs) and high-risk payment service providers (PSPs) that explicitly accept adult content and dating platforms in their acceptable use policies.
To open a bank account for a casino company in Cyprus, you must possess a valid gambling license (such as Curaçao or MGA), a watertight anti-money laundering (AML) policy, detailed documentation regarding the ultimate beneficial owner (UBO), and a clear transaction flow model.
Cyprus-Consult connects your licensed entity with specialized EMIs for high-risk enterprises capable of processing enormous daily transaction volumes.
A business bank account (with IBAN) is used for managing business funds, paying suppliers, and distributing profits. A business payment account is the payment provider integrated into your website that processes customer credit card transactions.
You legally need both to run a successful online business in the adult industry, and the payment provider automatically deposits your earnings into your bank account.
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