Posts Tagged Cyprus Bank Account
Register an Offshore Company and increase your profits and get in front of the competition!
Posted by peter in Cyprus Company Formation on March 23, 2009
The financial marked has changed and you need to consider to increase your profit of your online sales for two reason, first due to the competition while more and more Online Shops and businesses will go and reduce their price structure you need to have competitive prices on your products and services too, secondly while many see a decrease of the products services sold you need to earn more on each item as before to survive.
By just lowering your prices you would in many cases easily drive more sales into your pocket but you will soon face that this also means you need to sell more to get the same out of it.
A simple calculation which we did for a new client was to consider to take the entire business Offshore for Instant in Cyprus, the payable TAX for international business companies is 0% TAX which means if you lower your pricing per item with let’s say 15% (which would be the TAX you had to pay if you continue as you do now) than you won’t lose any money by reducing the price on your products or services but will at the same time get very competitive towards the competition.
It is important to consider any possible aspect to increase the costs doing business and at the same time be able to reduce the price to serve the consumers which at the moment (due to the financial crisis) only hardly want to spend any money.
A marked survey which has been made in Europe show that we are all more willing to spend money even in this financial crisis, if we can get the product or services we need to a reduced price.
How can I register a Cyprus Company, should be the question you ask yourself now.
CCLOGIC LLC has been in the Offshore Company Formation for years now and been of great help for many of our clients worldwide, many fail on finding the right Agent which can help with this service and get the job done fast and secure, we register a Cyprus Company and can open a Cyprus Bank Account within 7 – 14 days and ensure that everything is incorporated properly with Apostille of Documents and Company Certificates.
The Cyprus Bank Account comes with an Advanced Internet Banking (e-Banking) and as multi currency account (USD, EUR, GBP) – Your Cyprus Company can be registered as anonymous company with nominee shareholders and directors or with yourself or your holding company as director. You have to pay a 0% TAX rate to the TAX Authorities in Cyprus and conduct business worldwide with your Cyprus Offshore Company setup. You have a 100% assets protection and no limitation at all; any business can incorporate in Cyprus.
CCLOGIG LLC is a official Introducer for the major Cyprus Banks and has been serving several hundred clients with the Cyprus Company Formation and opening of Bank Accounts but we can more, we have a bride knowledge about the hassle to accept credit card payments Online, we have partnered with several Acquiring Banks around the world to open Offshore Merchant Accounts and to provide secure and reliable credit card processing for your website.
CCLOGIC LLC is a All in One Financial Service Agent which goal is 100% satisfaction for our clients, contact us today and let us help you to be a successful business which is in front of the competition.
Register a Cyprus Company Online!
Posted by peter in Cyprus Company Formation on March 21, 2009
Did you know that you are easily can register a Cyprus Company Online? Yes, that’s true you don’t need to visit Cyprus just for registering a Company in Cyprus.
Once you decided to incorporate your company in Cyprus it is very easy to transform this plan into reality, you can just start to fill our Online application for Cyprus Company Formation and hit the submit button.
Once we receive your application a sales representative will get in touch with you by e-mail or phone to clarify how your company structure should be and most important what your goals are in regards to go offshore with your company.
A simple application is then send to you as a PDF file which needs to be read and signed to start the registration of your company. Once this is received by our staff we will get it through to the Cypriot authorities and after approximately 7 days your company is registered.
Once the Company is official register in Cyprus we will send all the Apostil documents, company certificate and other useful information to you by courier or postal mail to an address of your choice.
Important to consider is if your Cyprus Offshore Company need to have a bank account, this can also be opened for the Cyprus Company easily, just let us know and we will send a Cyprus Bank Account application form to you as a PDF file, once this is filled, signed and returned to us we will go to the bank and get the account opened. Everything done Online and visit you to have to visit Cyprus.
Once you have both the Cyprus Company and the Cyprus Bank Account in place, you will be ready to start trading and conducting business through your real Cyprus entity. Your customers will be able to pay your Invoices to your Cyprus Bank Account just by using your Bank Account number or the IBAN number and a SWIFT code.
Through the advanced e-Banking (Internet Banking) system you will be able to monitor once the money enters into your account, from there you can transfer the money to your own local bank account or just have the money stay on your balance.
When would it be useful to have a Cyprus Company?
The possibilities are many, and often incorporation in Cyprus is used for the purpose of International Business Company (IBC Company)to conduct business Online, others register a Cyprus Company for the purpose to act as an Holding Company for a local company outside of Cyprus, this can be of a major benefit for your TAX planning and Assets Protection purpose.
Cyprus is a member of EU (European Union) which makes your Cyprus Company conducting business as an EU member company, that’s again offers you trust worthiness and a lot of possibilities in opening for instant a Merchant Account with a European Bank to accept credit card payments if you have a website.
For more information about how to open a Merchant Account to accept credit card payments on your website and to have your Cyprus Company to apply for the account please read our next publication on this blog or simply get in touch with one of our experience staff in this field at CCLOGIC LLC.
I need an Offshore Bank Account with e-Banking but where?
Posted by peter in Cyprus Bank Account on March 19, 2009
Since you will find that many services and Agency service which promise you exactly what it is you ever would like to have, an Offshore Bank Account with e-Banking but only a few Companies will give you the real thing! We thought it was time to explain how to get your Offshore Bank Account for instant in Cyprus and which comes with some Superior Internet Banking.
The most important for you to know before you even consider opening an Offshore Bank Account is to make sure where it should be, which country will give you the banking secrecy you seek and also the benefits of holding a Real Offshore Bank Account.
What we will suggest you to do is to have a closer look at Cyprus, they have for more than the last 100 years been known for their strict banking secrecy policies and have been used for the banking business and financial transactions for thousands of companies worldwide.
Cyprus is a member of the European Union and regulated by the strict rules of the Government in Cyprus. They have a fantastic infrastructure and are far in front of many other countries like Panama, Belize, and the Netherland Antilles.
What you will become with your Cyprus Bank Account is a multi currency bank account which also has an IBAN number which is required in Europe to get low Wire Transfer fees by the International Banks.
You will have access to your Cyprus Bank Account through some really advanced Internet Banking where you have access to your moneys 24/7/365 you can withdraw money you can see your account balance and you are able to check for incoming money transfers. Even if you have questions you are able to send a support ticket through the system. The best is, everything is in the English language.
The Cyprus Bank Account is opened with some of the Major Banks in Cyprus; you don’t need to worry about your money when you sleep. Compared to other services which promise you to open a bank account within 30 minutes, then this is the real thing and the “30 minutes” accounts are not close to that secure then what you will get with a real Cyprus Bank.
Open your Cyprus Bank Account with one of the fastest growing introducers for Cyprus bank Accounts today, we know how to full film your and the banks needs.
We work with you and will help you through the entire process which often only takes 7 days.
CCLOGIC LLC is an official Introducer for 2 of the Major Banks in Cyprus and our service is know and used by the professional companies all around the world.
TAX and Legal issues with your Cyprus Company.
Posted by peter in Cyprus Company Formation on March 17, 2009
It can be very overwhelming to get a picture of the TAX and Legal issues there might be when you register a Cyprus Company.
Some of the questions we often receive from clients interested in registering a Cyprus Company with us are the following:
Do my Cypriot Company has to pay TAX ?
Will the beneficial owners be subject to Double Tax treaties?
Which country will the dispute resolution are handled?
A few good questions which we will try to outline here and which we think is of high interest for many that consider to register a company in Cyprus and in any other offshore jurisdiction.
To the first question, then it is depending very much on how you go and register your Cyprus company, will you be using nominee shareholders and directors or will you use foreigners, or is it the beneficial owner which often is a foreigner that is going to be both the shareholder and director in this company.
By using local nominee shareholders and directors you Cyprus Company will be subject to 10% TAX of net profits! This can be of benefit if you are going and do local business for instant in Cyprus where you need the director of your company to be able to make business decisions on your behalf.
If you make use of foreign nominee shareholders and directors the Cyprus Company will not be subject to any TAX ( 0% TAX) this requires of course that all income of the Cyprus Company is coming from outside of Cyprus. This also applies if you as the beneficial owner and as foreigner is chosen as shareholder and director. The benefit of becoming a foreign nominee shareholder and director is that you can register the company anonymously and your name will not appear in the Cyprus public register of companies.
To the second question, it depends on if you country has a double taxation agreement with Cyprus, if so the beneficial owner is subject of tax in your home country. This is one of the reasons why many people choice to become the company anonymously.
The third question, this depends only on your company’s policy and which country you set forth to handle disputes in your legal documents and has nothing to do with the type of company you are going to register or which country it is. For instant even when your Company is registered in Cyprus you can choice to incorporate a term in your Terms and Conditions or business policies that a dispute is handle by the courts of the UK or US and that’s what apply then.
We advice all our clients to get in touch with their Lawyers/attorney and Advisors for an in depth explanation of above since this is the right place to ask such questions; it might be that other regulations applies which could benefit you.
If you are considering to take your company offshore we will be more than happy to help you, please contact CCLOGIC LLC today and let’s get things started.
Cyprus Offshore Bank and Cyprus Offshore Company formation.
Posted by peter in Cyprus Bank Account, Cyprus Company Formation on March 16, 2009
If you decide to take your business offshore for instant in Cyprus it is highly recommended to make a good planning for what you need, how you want to set everything up and what the outcome should be.
The best you can do is to write everything down, make a brief description of what it is you want it to be and what you expect once everything is done.
We have such many new client requests which just asking us to open a Cyprus Offshore Company and a bank account, some have not considered what it is they are going to use it for, they open the company (which is pretty easy) and then want a Cyprus bank account for this company but fail to deliver the few required documents we ask for or they become everything ready but don’t use it in fullest.
We think it is time to explain a few general and basic about how to make the prober Offshore Setup to conduct business for instant Online.
Do I need a nominee shareholder and if so should it be a local or foreigner?
First off, you only need a nominee shareholder if you want the company to be anonymously or if you want to avoid paying any TAX on net income.
If you reason to choice a nominee shareholder is to avoid TAX you will need to choice a foreigner, which we also provide. If you want to use a nominee shareholder because you don’t want to be listed in the public register of Cyprus ( become a anonymous company) you can choice a local shareholder, in anyway you only need one.
Do I need a nominee director (local direct) and if so should he be a foreigner?
As explained above in the chapter about nominee shareholder then almost the same apply for a nominee director, it depends very much on what it is you want, is the reason to avoid paying TAX or is it to become an anonymous company! If it is the first you need a foreigner if it is the second one, you can use a local director.
Do I need to have a nominee shareholder or director?
No not at all, you can just incorporate your Cyprus Company in your name or your local company’s name, you just need to bearer in mind that you will be listed at the public register in Cyprus, but you won’t have to pay TAX at all for this Cypriot company.
Also you can open a bank account in Cyprus for your company which is what many clients do. Whether the account is kept anonymously or as a regular business bank account depends on how you made your Cyprus Company structure as described above.
With your Cyprus Bank Account you can send and receive International Wire Transfers, you will become a IBAN number for your account and e-banking (Internet Banking) from where you can manage your bank account 24/7/365. The Cyprus Bank Account can be opened as single currency account (with only one currency of your choice) or as multi currency bank account where you can choice from the currencies EURO, USD, CYP, GBP.
Typically it takes about 4 – 5 days after we received all your original documents for the opening of the bank account to have the account opened, additional 14 days for the codes to be generated and send to your address for the internet access (e-banking).
Another thing which we often get asked is if it is possible to become a merchant account to accept credit card payments for on a website with this company.
Well, yes it is, you can open a Merchant Account and you can use your Cyprus Company for the opening of that account as well as a regular bank account as explained above. However, we don’t work with any bank in Cyprus in regards for the Merchant Account opening, so we use some Banks in Europe which have specialized in this. The moneys can of course be transferred to your Cyprus Bank Account which is connected to your Company in Cyprus.
What are the steps to get started if I would like the full scale of your services?
This is also a question which we get asked often, and to clarify, then we always start with the company since we need this in place to be able to sign a bank account and/or a merchant account on behalf of the Cyprus Company.
Once the Cyprus Company is established (which in average takes 7 days) we go ahead and open the Bank Account with a Cyprus Bank and then we go and apply for the merchant account, since the Acquiring Banks which do the credit card processing will ask for the company details and the banking details before they open the Merchant account, therefore it is important to have the Cyprus Company and Cyprus Bank account in place first.
Cyprus Bank Account opening how long does it takes?
Posted by peter in Cyprus Bank Account on March 10, 2009
Since we take such requests serious and want o provide as much information as possible then below you find the explanation and the requirements.
1. How long does it take to open a Cyprus Bank Account, I have been waiting 7 days now?
Normally the account is opened within 3 – 4 days IF all documents are delivered to the bank as original. The entire process depends very much on the client and can take from 7 – 14 days to be completed.
Important to have in mind is, that compared to our competition and many other companies providing such services, then we don’t open the bank accounts in Cyprus our self, and we don’t issue “sub accounts” ,no, what you get with CCLOGIC is a real Cyprus bank account with an IBAN number and a SWIFT code to send and receive international money transfers. This can depending on the work load of the bank take some time and sometimes also exceed the above mentioned time frame.
Since we have several Cyprus Banks to work with, then we are only able to list below the general requirements they can vary from bank to bank.
1. The Bank Account opening application need to be signed, scanned and returned to us electronically.
2. The Application forms need to be send by courier to our address in Cyprus as original together with a copy of Passport, Utility Bill and Reference letter.
Upon receivable of above we submit everything to the Bank that open the Cyprus Bank Account and from that stage it normally only takes 3 – 4 days.
However, the Internet Banking system to access you Bank Account will take about 7 to 14 days before it is accessible for you since the PIN code will be send by courier to you and you need it to access your Bank Account.
Feel free to ask any question CCLOGIC LLC is available at Skype, Live Chat, E-Mail or Phone
How to avoid paying TAX with your Cyprus Offshore Company?
Posted by peter in Cyprus Company Formation on February 17, 2009
We see more and more false information in the forums around about Cyprus Companies and the impossibility to avoid paying TAX with such company.
The problem many people have is that they want to be anonymously and at the same time don’t want to pay TAX, that’s almost not possible.
Below are 3 ways to structure your company and still not pay any TAX as a foreigner:
1. You register your Cyprus Company as regular and don’t choose any Nominee Share holder or Director but register yourself or a business partner as director and shareholder, this will give the company the status of a foreign business company (International Business Company) owned by non Cypriot’s. The company now doesn’t need to pay any TAX! The beneficial owner of the company, the directors and shareholders will be public available in Cyprus.
2. You register your company with a nominee shareholder and director and you will have a 100% anonymously company. This will don’t give you any benefit for avoiding TAX a 10% TAX is payable on the company’s net profit.
3. You establish the company with the director and shareholder to be a foreign company, this could for instant be Belize, Panama or The Netherlands Antilles. This will give the company the status of an IBC (International Business Company) and the TAX that has to be paid is 0%. This constellation will also give you a 100% anonymously company.
We have several ways to help you in regards to avoid TAX and also become anonymously.
Please contact CCLOGIC LLC today for your Cyprus business setup and we will be more then glad to help you.
How do nominee shareholders and directors can be useful to my new corporation?
Posted by peter in Cyprus Bank Account, Cyprus Company Formation on February 13, 2009
The question has been asked by many of our clients which want to incorporate their business in Cyprus but don’t have the experience yet of such an advanced and powerful step.
To explain it I will start to say that it is in any way mandatory to have a nominee shareholder or director for your Cyprus company formation.
A nominee shareholder:
This is a person which is a Cypriot and which is acting as shareholder on behalf of the beneficial owner of the company and which can be any person as long as he is a resident of Cyprus. (for this purpose)
A nominee director:
It is almost the same as a nominee shareholder, the different lays in that the director will have a power to act on behalf of the Cyprus Company and can finalize business deals on behalf of you without prior notice.
When we go and register Cyprus companies and our client’s business is of nature of where they are not willing to release their own identity (this can be for many reasons) but rather will have the entity operating as a anonymous vehicle to operate their day to day business, then we advice to use the instruments of a nominee shareholder and director, this will absolutely give them the best protection of identity and beneficial owner release.
Now that said, we get many questions each days for people wanting to register a Cyprus Company and which want to stay anonymously how they can be sure that the nominees don’t withdraw moneys from their accounts and how the beneficial owner can act on behalf of the company!
First of all, a beneficial owner of a Cyprus Company will become a Power of Attorney ( POA ) which will last for a period and which can be renewed upon request at any time. With the POA the beneficial owner can act on behalf of the company as would it not exists, bank accounts can be opened, business contracts can be signed and all the daily tasks can be fulfillment and be legit.
It is an obvious question to ask if the Nominees will run with your moneys and even think about it, first of all the nominees we use are all employed by our company or business partners, they only act as the term says Nominees, they won’t have access to clients bank accounts, basically to the reason that they will never see the account number, the pin codes or have the password for the Internet Banking facilities which comes with the opening of a Cyprus bank Account.
Except that, then a nominee shareholder and director will have a agreement with the trustee that will responsible for the company which disallow them to act on behalf of the clients company without written accept by the client. In fact they even not have the power to do so.
For more information on Cyprus Company Formation, please visit our website.
Please also visit our Merchant Services Offshore Discussion forum to get answers to any questions you might have and to see what others are doing.
An Offshore Bank in Cyprus is just a bank where you can open a bank account!
Posted by peter in Cyprus Bank Account on February 9, 2009
An offshore bank in Cyprus is just a bank where you can open an account but it’s not in the country where you reside. They offer their clients defense against any sort of local political or monetary stability and have a bigger access to deposits.
The bulk of offshore banks are found on island states ; a number of these include Cyprus, Jersey, The Isle of Man and Bermuda, Tanzania. They can also however be found in other nations that aren’t islands,eg Luxembourg. Offshore banks have no legal responsibility to report earnings to other tax authorities as they are guarded by bank privacy.
Why do folk opt to open an account offshore? Often , the offshore banks will be offering higher IRs than those that are on offer by the banks in the clients own countries. This is probable as their outgoings are significantly lower thanks to the location and the lack of any participation by the governing body of the jurisdiction. For residents of nations that are politically and economically unstable, putting their lifesavings in a deposit account could be a dangerous action. Offshore bank accounts can offer a safe and trustworthy place to put their cash with no worry that it’s going to be reduced or perhaps frozen and they subsequently lose everything. There are few industries a little island community can earn cash from, most of them are popular holiday maker destinations and tourism is their main industry. Offshore banking provides another industry they can take on and struggle with other states. Also it can supply a technique of making investment and expansion in the economy of the country and helping to spread out the planet’s finances to the undeveloped world. When an offshore bank pays interest almost all of the time tax is not subtracted.
This could be a large benefit for people that don’t pay tax on worldwide revenue and those that don’t pay tax till the tax return is decided. It’s also likely to put up an unnamed checking account in Cyprus or another jurisdiction, this option isn’t available with domestic banks. Higher rate loans based mostly on the chance and investment opportunities are also more practicable than anywhere else. There are drawbacks of offshore banking and the main one is that it is commonly related to tax crime and arranged crime.
Those folks who receive high incomes customarily hunt down the services of Cyprus offshore banks as they have an inclination to pay a higher rate of tax and having an account offshore can save them money.
For more information and fees in connection with the opening of a Cyprus Bank Account, please contact CCLOGIC LLC
Also visit our Offshore Merchant Discussion Forum
Offshore Company Experts
