When you consider registering a company in Cyprus you will also need a bank account for this company which typically needs to be opened in Cyprus. A Cyprus Company Formation can take place by just providing a few documents and isn’t any difficult.
The major benefits by choosing to register a company in Cyprus are that Cyprus is part of the European Union which opens the door for a large number of banks and financial institutions. It is important that when you register you company in Cyprus then you can’t open a business bank account before the company has been registered, some might think it can be made in one task (both company registration and the opening of a bank account in Cyprus) however, you will have to wait until the company has been approved for registration with the authorities in Cyprus which often is a process of 7 days.
Further, it is important to make it clear to your offshore company registration agency what you plan to use the company for and how it should be structured. For instant in Cyprus it is possible to have the company registered with nominee directors and shareholders which will gives you another level of protection and hide the beneficial owner of the Cyprus Company from the companies house in Cyprus. When using nominee shareholders and director you can still open a business bank account in Cyprus for the company and you will still have control of the company as if you would be the official director and owner of the company, it makes no different, this is ensured through a P.O.A. a power of attorney which give you the rights to act and close business deals on behalf of the company and will not limit you in any way.
When registering a company in Cyprus with nominee shareholders and directors it also means it is like
anonymous company, when this company opens a Cyprus bank account it means the bank account will also become anonymous which as another level of security is protected by the banking secrecy in Cyprus.
Compared to many other offshore jurisdictions and low tax countries, a company registered in Cyprus will give you more benefits, more freedom to act and no limitation on whatever company structure you might need or whatever business you want conducting through this company. Furthermore a Cyprus Company Formation gives you the largest number of banks and financial institutions available that also really would like to enter into any agreement with your company