Posts Tagged Cyprus Bank Account
Many stable companies that are in operation in their home countries will further prefer to have a company in Cyprus. The process of setting up a business in another country can really put you off due to the tough conditions set in place but not in Cyprus. In Cyprus, you will be equipped with professional advice in the fields of law, accounts, banking, merchandize and insurance. Hence you will not be a lost sheep looking for direction as all the services you require will be at your doorstep.
The first thing you need during your Cyprus Company Formation process is to register your company. Though it is a simple process that takes 7-10 days, a lot of factors need to be thought of wisely. The minimum amount of capital required in setting up a Cyprus Company is CYP 1000, without which it becomes impossible to register the company. Another important aspect in the registration process is a company secretary. A director is another important person who needs to have been identified if you are to register your Cyprus Company. It is not a necessity that these people be citizens of Cyprus but should be related to the company or the owner in a certain way. Stakeholders are another important feature to be put into consideration. The minimum number of required stakeholders is one but there is no limiting number set as the maximum. The shareholders do not have to be citizens of Cyprus as well as don’t have to be related to the company or the owner.
Also, while registering your Cyprus Company during the Cyprus Company Formation process, it’s a requirement that you have three alternative names. The names are handed in to the registrar of Companies for approval or otherwise. In case any of the names that you submit is used by another company, a letter of consent should be obtained from that company. For you to have the Memorandum and Articles of Association drawn up during the registration process, outline the objectives of your Cyprus Company.
Most company owners who would like to reduce their taxes would often expand their companies at other countries where there taxes are low. Apart from the reduced taxes, company owners are also able to protect their assets from their creditors. Anonymity is also provided through offshore accounts.
To register Cyprus company offshore, company owners need to choose a reliable agency which will help them to complete the registration process. There are some company owners who are thinking of registering their company anonymously in order to protect their assets. This can be possible through the help of an offshore agency. Thus, it is necessary to carefully select the agency that will do the job for you.
Anonymous registration is made possible through nominee shareholders and directors. This is usually the common method in registering an offshore company in Cyprus. Through the nominees, the company owner won’t be listed on the public register; thus, the registration for the offshore company is anonymous and the company owner can protect these assets.
In general, there are two kinds of nominee services when you register your offshore company in Cyprus. These two nominee services include the local Cypriot nominee and the foreign nominee services. When the company owner uses the foreign nominee service, it will be registered as an international business company wherein it is not subjected to tax; however, the income tax will be shouldered by the company owner and will be paid to the country where the owner resides.
On the other hand, if the company owner prefers the local Cypriot nominee, the shareholder and the directors will have to pay a regular ten percent tax. It depends on the company owner’s choice to decide if he wants a local Cypriot nominee or a foreign nominee. There are advantages and disadvantages on both nominees but it all depends on the company owner.
A good agency will guide the company owner to the registration process and will also do necessary duties in behalf of the company owner.
Choosing Cyprus as a location for an offshore company is considered a good choice because taxes in Cyprus are reduced.
Also, anonymity, full privacy, as well as asset protection is also provided to the company owners who are planning to establish their offshore company in Cyprus.
When it comes to the registration of a Cyprus company it isn’t any difficult and the opening of a business bank account in Cyprus is also not difficult, everything is very easy, but why should you ever consider incorporating in Cyprus?
The answer to this question is easy, you will have a lot of benefits doing so, ranging from privacy and assets protection to huge tax savings, company restructuring and transfer of shares and equity is extremely easily executed with a Cyprus company.
When considering a Cyprus Company Formation (to register a company in Cyprus) you should look at your needs and which goals you would like to archive for the Company. For instant it is for many of great benefit to register the company in Cyprus as an IBC (International Business Company) the IBC in Cyprus is not subject to any tax on income further, the company can be completely anonym, which means the beneficial owner isn’t listed on the public register of companies in Cyprus.
Why is an IBC in Cyprus good for my business?
Through an official introducer for the major banks in Cyprus you can open a Cyprus Bank Account through which you can make your investments. Profit made through the investment is not subject to any tax and can easily be transferred to another company outside of Cyprus, the capital can then be used for reinvestments which can’t for any reason be executed abroad.
The benefit is that the IBC in Cyprus is making the investments and in case of profit winnings those are tax free and can be reinvested, on the button line it means a higher net profit for you.
If the investment would have been done through a local EU company or as personal investments both parties would have been subject to TAX and it makes it less attractive.
Another benefit a IBC in Cyprus can ensure is that if you are mainly doing work per agreements, virtual services, then it is a great benefit to have the IBC in Cyprus to send the Invoice for your work, it will be subject to 0% tax.
An IBC in Cyprus can take over assets, patents, copyrights etc. by doing so the future earnings are not subject to any tax, and can be used for reinvestments. Further to the already mentioned an IBC in Cyprus can form a Panama corporation which again is an IBC and then can own boats and Yachts which can be sailing under the flag of Panama, all with no subject to tax.
CCLOGIC LLC is providing offshore company formation services and offshore banking for clients worldwide and has many years of experience in the field, we work with the major banks in Cyprus and the Seychelles and can help with the incorporation of IBC’s, Trusts and Regular Offshore companies registered or not registered for VAT in, Belize, BVI (British Virgin Islands), Cyprus and the Seychelles. Our partnerships with several law firms and Legal Advisors in many other offshore jurisdictions also allow us to provide offshore company formation services and offshore banking in countries like Panama, Curacao, Malta, Andora and many other countries. Please visit our website for more information or contact us.
When considering a Holding company structure a Cyprus Company Formation can be of great benefit for the beneficial owner of the Cyprus Holding company. A Cyprus Company Formation can take place very quickly and if registered accordantly a Holding Company in Cyprus can be formed. Read the rest of this entry »
The question on how it is possible to register a Cyprus Company and at the same time ensure a full protection of the assets of the Cyprus Company has been asked many times by our clients.
Reading on the Internet you will find a lot of questions in regards to the Cyprus Company Formation with assets protection, privacy and securing equity. We will quickly explain in the below what it means and how you can archive this and other benefits by entering into a Cyprus Company Formation.
The laws in Cyprus and in regards to the incorporation of a company in Cyprus are known to be very beneficing for entrepreneurs who want to start an International business. When starting the registration process of a new company in Cyprus it is important to know that you will need to make sure of the nominee services offered, those includes nominee director and nominee shareholders and are in fact just people which are appointed to manage the Cyprus company on your behalf.
When using nominee services, your company will be listed with the nominee director and shareholders at the companies house in Cyprus, the beneficial owner isn’t listed anywhere and no one can look this information up.
It is important that you make some good planning when registering a company in Cyprus with nominee directors and shareholders, since if you don’t intend to make any business ate the Island Cyprus, then you will have great tax advantages if the nominees are foreigners, that’s qualify the company to be registered as an International Business Company which is subject to 0% tax on net profits.
A Cyprus Company can be formed by a person or by another company located almost anywhere in the world, and if a company for instant in the BVI or Seychelles is used to register the Cyprus company it will ensure an additional layer of security and privacy / anonymity. It is possible to have another company to be both the shareholder and director in a Cyprus Company, there is no need for any person to take this role, however, a nominee director in such a constellation would be a benefit.
Some of our clients are in a hurry for the Cyprus company formation to take place, and in these cases we have the possibility to offer our Ready-Made companies / Shelf Companies which are pre registered companies and where only a change in ownership needs to be registered with the authorities in Cyprus.
CCLOGIC LLC has specialized in the Cyprus Company Formation and opening of Bank Accounts in Cyprus, we are an official introducer for the major banks in Cyprus and have been in business for many years. Beside the jurisdiction of Cyprus we also offer offshore company Formation in the jurisdictions of Belize, British Virgin Islands and Seychelles. CCLOGIC LLC can also help with the formation of Offshore Trusts in Cyprus and Panama, for more information please visit our website.
This question is something we get asked on a regular basis and it is a good question, If you already have an offshore company In any offshore jurisdiction (this also apply for a regular company) and you want to extend your company structure with more privacy, more security and have access to a wealth of banks, then an Cyprus company Formation is the right choice for you and your company.
The problem most people face while they incorporated an offshore company for instant in the Seychelles or Belize is a very limited number of banks from which they can do offshore banking and with which they can accept credit cards on their website.
How to figure out if my Offshore Company will need to incorporate in Cyprus?
Once of the questions you should ask your self is if you are satisfied with the offshore banking you have today and if it is easy to access your money, if this questions raises just one new question, then you should look into a company formation in Cyprus.
With a Cyprus company formation you will get more opportunities you will have access to more banks all across Europe and you will have a company in Cyprus which will give you 100% asset protection and privacy. For many businesses all around the world it is of benefit (many have already discovered this) to incorporate in Cyprus because of the offshore banking available. A Cyprus Company Formation is easy and only requires a little work from your side; you will need to find a utility bill in English and make a copy of your passport both is send to the Offshore Company Formation Agency which takes care of your Cyprus Company Formation. Please note! Make sure that the agent you decided to use for your company formation in Cyprus is able to open bank accounts in Cyprus for the company (business bank accounts) and if needed, can provide you with a merchant account to accept credit cards on your website. Both should be handled by 1 agency to make the process as quickly and hassle free as possible.
Many Offshore Company Formation services can’t do that even if they state they can then they in 99% of all cases fail to deliver the product!
CCLOGIC LLC is an offshore company Formation Service Agency which has specialized in the incorporation of offshore companies in Cyprus and many other offshore jurisdictions. We are an official introducer for some of the major banks in Cyprus and have a large network of Acquiring banks which provides merchant accounts to European merchants in order to accept credit card payments.
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
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.
For ages it has been well know that large corporations are instantly expanding their business locations to offshore jurisdictions just for better cash flow optimizing and tax purposes, it has nothing to do that they want to conduct business in those countries.
Also for many years now, it has been a closed area to enter into the planning of taking your company offshore with your business, it is worldwide known that Swiss bank accounts have been used to avoid TAX on income and profits in general, but this option is going to close their doors, now you need to find a good and reliable place to STORE your MONEY. Cyprus is one of the only places within the European Union which still has 100% banking secrecy and where it is impossible for an individual or foreign company to open a Cyprus bank account. The Offshore Bank in Cyprus which you need to find will simply deny business cases which haven’t been introduce by an official offshore bank introducer.
The question here is, how you as an individual can become a personal or business offshore bank account in an Offshore Bank, and why a Cyprus bank account is the best solution for you and your business.
Furthermore you will need to consider which other benefits it would give you as a business in regards to offshore asset protection. Yea it is right you might not have heard of the term offshore asset protection, but we will teach you what it is and how it will be an important role for your offshore company formation planning.
So, what you need to do, first of you will have to consider if you make enough profit in your business to effort the expanses which are involved in incorporate an offshore company and to become an offshore bank account with an offshore bank.
Offshore asset protection, how; very simple an Offshore Company and for instant an Cyprus company will make it very difficult for any authority in the world to find the real beneficial owner, secondly it costs a lot of time and money for anyone to claim any rights to get access to assets in an Cyprus Company or any other Offshore Company. Finally an Offshore Company and a Cyprus Company will work as an individual entity so it is perfect for offshore asset protection, because you can just take anything from a person which isn’t related to the claim! Do you have the picture now? If not it is all about offshore asset protection and to protect your rights to keep you hard earned money. In other words by entering into a consideration of offshore asset protection you just need to keep in mind that no one will be able to get access to whatever assets you might have in the company, even not if you file personal bankruptcy.
The important thing here is as long as we speak about cash, you will need to find a Offshore Bank which will open an offshore bank account for your offshore company or Cyprus company, this you will easily get access to through an offshore incorporation service which typically is able to prepare everything for you in one task. With an Offshore bank account you will have access to your moneys in your offshore accounts 24/7/365 and only you will have access to your offshore accounts, not the offshore incorporation service, not any nominee shareholder or director, no, only you. The offshore bank will send you the codes for your Internet Banking directly to the address you tell them to send it to. There is an 100% secrecy by opening an Offshore bank account or for instant to become a Cyprus bank account in an Cyprus bank / Offshore Bank.
Offshore accounts can be hold in multi currencies like EUR,USD,GBP and CYP almost any Offshore Bank will give you the possibility to have your own IBAN account number and Internet Access but the Cyprus Bank Accounts are the most reliable solution in general, since Offshore Banks in Cyprus are regulated through a strong financial network.
Start today to consider how you can get offshore asset protection, an offshore bank account in an Offshore bank and for instant go and consider to open a Cyprus Bank Account before anywhere else.
CCLOGIC.COM has specialized in the opening of offshore bank accounts in Cyprus and is an official introducer for major Offshore Banks in Cyprus. We register offshore companies in Cyprus for the purpose of offshore asset protection, to safe TAX for our clients and for our clients to conduct legal business without any risk.