Archive for May, 2009

Register a Cyprus company as IBC, how is that possible?

Registering a company in Cyprus isn’t difficult and the requirements are not overwhelming for anyone even not if it is the first time you ever register a company. The entire registration process only takes a few days to a week and is hassle free the offshore agency which will register the company for you in Cyprus is taking care of all steps and of the Cypriot authorities.

When you consider registering a company in Cyprus you should plan it and you should make it clear for yourself what the company is going to be used for and if it could be of benefit for you to have the company registered as an IBC (International Business Company) in Cyprus. A IBC is subject to no tax but requires the beneficial owner and shareholders o be foreigners and you are not allowed to conduct any business with other Cyprus companies and Cypriots in general.

The IBC has the benefit that you except the tax savings also can be anonymous, which in some case when people conduct business online is a requirement by the client. Others don’t care about the anonymity and just register the company with them self as beneficial owner and shareholder which automatically gives the company to qualify for an IBC registration.

An IBC company gives you the same benefits, asset protection and privacy as an regular Cyprus company formation just with the exception of the tax savings. However, you should never forget about your local laws in your home country which requires you to pay tax on income from this company, best advice is to ask some tax advisory service which will be able to tell you exactly how much tax you have to pa (if any) and which instruments are used to reduce the tax payment to a minimum.

Some of the key benefits having a Cyprus offshore company are the possibilities for assets and equity protection such company gives, also it is difficult for creditors and others to access your funds and assets this would require a local court order which obviously isn’t easy to get.

It is legal to move assets and funds between Cyprus companies without to be liable for any local tax also it is allowed to make loans in Cyprus companies which for new starting entrepreneurs can be of benefit and which aren’t allowed in many of the other European countries at all.

CCLOGIC LLC has specialized in the Cyprus company formation and the opening of bank accounts in Cyprus, in addition to our regular services we help clients worldwide with IBC registrations and to buy Shelf Companies in Cyprus (Ready-Made) companies.

Please do not hesitate to contact us or visit our website: Cyprus Company Formation

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Is it possible to register a Cyprus Company anonymously?

Actually it is almost possible, a Cyprus Company formation can take place with nominee shareholders and directors, those nominee services are common to use when registering a company in Cyprus, since the beneficial owner won’t be listed on the public register of companies in Cyprus.

When registering a company in Cyprus it is important to know that there are two types of nominee services, the local Cypriot nominee’s and the foreign nominees, the difference are that if a foreign nominee service is used the company can be registered as IBC (International Business Company) which is subject to cero tax, however, the beneficial owner of that company will have to pay income tax in the country of residence.

Important to know:

  • A Cyprus Company Formation with Cypriot nominee shareholder and directors pay regular 10% tax.
  • A Cyprus company Formation with Foreign nominee shareholder and director is subject to cero tax.
  • A Cyprus Company can always open a bank account in Cyprus also if the shareholders and director are foreigners.
  • With a Cyprus Company you can register anonymously and your privacy and assets are secured.
  • A Cyprus Company can register a company in another offshore jurisdiction and is often in that way hused as a Holding Company.

It is important that when you register a Cyprus company that you make sure that you know exactly what the purpose is of the registration and how and where you will conduct business with the company in Cyprus. Many fail and just register the company in Cyprus without to have a business plan or a final reason for it, which makes it less attractive for the owner and often the re-registration will need to be done within a few months because of the same.

CCLOGIC LLC is a professional Offshore Company Formation service provider which has many years of experience in the company formation and which is able to help with both the company formation in Cyprus and to open a Cyprus Bank Account for the company.

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Do I need to have a company in Cyprus for my online business?

A Company in Cyprus can be of benefit if you are conducting business Online and if you decided to accept payments online. While many suffer when they try to become a credit card acceptance with an offshore company outside of Europe, they often will need to have a company in Cyprus.

To become a company in Cyprus isn’t difficult and it is done in some easy steps which almost in all cases can be completed within 20 to 30 min. and it doesn’t need to be complicated. Often the Agent which is registering the company in Cyprus will have some standard forms which just need to be completed and signed, this is then send electronically back to the agency which often is a Offshore company formation specialist and knows all steps.

Why should I need a European bank when I want to accept credit cards?

The reasons are many but often it is because of the accepted business and because it is often very complicated and expansive to have the merchant account or the Acquiring bank in an Offshore jurisdiction to handle the transactions for you. Our experience is that a company in Cyprus will give you all that what a offshore company for instant in Panama, BVI or Seychelles also have, but on top of this you will be able to have the doors open to also accept credit cards inexpensive and with a reliable source. Also the speed of Wire Transfers hit your bank account is incredible, it often only takes a day or two compared to an transfer which goes to a offshore bank it will take weeks.

When you considering a company in Cyprus you must look for the possibility to also be able to open a bank account in Cyprus, a Cyprus Company Formation without a bank account in Cyprus makes no sense and is often where most Agencies fail. The reason for this statement is that you will need to have a bank account for your company in Cyprus else the Acquiring bank (which is providing the credit card acceptance) won’t accept you as a merchant. The bank account in Cyprus which is opened in the name of your Cyprus Company will also give the company credibility towards the banks since there is already one bank which have made the due diligence on that company in Cyprus.

Don’t get fooled into any Agency which is trying to open a bank account for your company in Cyprus in a other country, it won’t work the same as if both is located in the same country.

For more information on how to become a company in Cyprus please visit our website, we open Cyprus Bank Accounts for the company and can also help with a company structure which combines several offshore jurisdictions in one solution and where the outcome is a 100% anonymous Cyprus Company setup for assets and privacy protection.

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The shortcut to a Cyprus Company Formation

The requirements to register a company in Cyprus are pretty easy to apply to, when you decided to register a company in Cyprus you will only need to provide a utility bill in English and a copy of passport.

When you register a company in Cyprus you will need to be aware of that the beneficial owner will be visible in the public register of companies in Cyprus, to avoid this you will need to have some nominee service which includes a Nominee Shareholder and a Nominee Director.

A Nominee Shareholder is often a person which is local (Cyprus) or foreigner and which is used to hide the beneficial owners personal information of a Cyprus Company.

A Nominee Director is often a person which is local (Cyprus)  or foreigner and which is used to act on behalf of the Cyprus Company and which protects the beneficial owner from be listed on the public company register in Cyprus.

In order to register a company in Cyprus there is no need to visit Cyprus, everything is handled electronically and through the Internet, the important thing to note is that the original copies of the above documents need to be send to the Cyprus Company Formation agency by courier service (Fedex or DHL).

Who can register a Cyprus Company?
Everyone can register a Cyprus Company, it doesn’t matter where you live or which country the beneficial owner comes from,  the only impotency is that you can comply with the above mentioned requirements.

How long does it takes for a Cyprus Company Formation?
It depend very much on the setup of the Cyprus Company, often a Cyprus company formation can take place in as little as 7 days depending on the Cypriot authorities.

I’m in a hurry and need a Cyprus Company fast, what can I do?
We understand that some are in a hurry to become a Cyprus Company registered as soon as possible and for any reason needed it yesterday, therefore we have always min. 10 pre registered (Ready-Made) shelf companies available, those companies are ready to change ownership and can be trading immediately.

For more information please do not hesitate to contact us and please visit our website Cyprus Company Formation & Cyprus Bank Account.

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Cyprus Company for Online Businesses and to accept credit cards.

Cyprus Company formations is for businesses outside of Cyprus and which are for any reasons located in a jurisdiction for where it is impossible to become a Merchant Account (to accept credit cards on your website) and a Cyprus Company Formation can have a big impact on the decision of the bank or PSP you go and apply with.

Why should I go for a Cyprus Company Formation?
If you have been in business Online for some time then you know how difficult it can be to become a credit card acceptance. If you want to apply with an European bank you will be declined. With a Cyprus Company it is different. Since Cyprus is within the Europe it is possible with many banks around to become a merchant Account. With a Cyprus Company Formation you will not only have a European company you will also have your business incorporate in a low tax country in Europe and it is legit.

Compared to many other offshore jurisdictions then a Cyprus Company Formation offers a wide range of possibilities to conduct legal business worldwide, you are not limited to any specific bank or service provider which is asking for fees which are plain ridiculous and you will own your company not the payment service provider.

Just within the last 6 month we have incorporate and helped successfully more than 100 clients to become a merchant account while they incorporated their company through our services.

CCLOGIC offer free (free = no setup fees) Merchant Accounts and Payment Gateway services towards clients which make use of our company formation in Cyprus, also we offer very competitive rates on our merchant services which are almost unbeatable by any other European payment service provider.

Can I also have a bank account for my Cyprus company?
Often when new clients enquire for a Cyprus company formation with us we are asked if it is possible to become a Cyprus Bank Account for the company, and the answer is, YES of course you can. When considering to go offshore the Company formation is the easy task, the opening of real offshore bank accounts is the most complex part and is where many fails.

With our outstanding services and connections to several banks and partners worldwide we are able to provide you with a complete and professional solution, our success rate is 99% in regards to complete the process of an incorporation including a merchant account and a Cyprus Bank Account, this figure isn’t something we digged up, it is real and we put a great effort into showing our client loyalty and to provide the real solution which makes our company outstanding.

Contact us today to become Cyprus Company Formation, Cyprus Bank Account and a Merchant Account

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