When you considering entering into the online business of any kind, a Cyprus company formation is one of the best choices you can make. A Cyprus Company can open bank accounts in Europe and open Merchant accounts to accept credit card payments.
It is not difficult to register a company in Cyprus, the only you need is to complete a application, have a copy of some picture ID and a electricity bill.
A Cyprus company can be registered with nominee shareholders and directors which mean the beneficial owner of the Cyprus Company is not revealed on the public register of companies in Cyprus.
Once the Cyprus Company formation has taken place you can start with the opening of a Bank Account in Cyprus which also is a easy process, the bank account comes with advanced e-Banking where you have access to your bank account through the Internet 24/7/365, from the e-Banking you can directly send International Wire Transfers. For your Cyprus Bank Account you will also become a Visa Debit card which can be used on any ATM worldwide.
Now you have a Cyprus Company and a Cyprus bank account, in order to accept credit card payments on your website with a European Acquiring Bank and a European Payment Services provider, you will need to open a Merchant Account, the applicant for this Merchant account is the Cyprus company and the banking details are your Cyprus bank account.
The Acquiring banks in Europe accept companies from Cyprus as merchants and it is not that complicated to get through the process to become a Merchant Account for the Cyprus Company, but it needs patience and to be pro active, those two are the main reason for why merchant fail to complete the process of becoming a merchant account.
Your Cyprus Company will give you 100% assets protection when it is setup correctly, failing to do so can harm your protection, further a Cyprus Company which is registered as an International Business Company can conduct business worldwide but not in Cyprus, due to this regulation the IBC Cyprus Company is subject to 0% tax which is the reason many choose to register a Cyprus Company as IBC.
For more information on how to get the complete package of a Cyprus Company, Cyprus Bank Account and a Merchant Account for this company, please visit our website or contact us, we are more than happy to serve you.