Posts Tagged Cyprus Bank Accounts
While I started a new business for years ago I was thinking of just to register a local company and get my business started without in any way to consider going offshore.
Since the business I was doing at the time involved many customers and business partners from outside my country, then I was slowly introduced to the Offshore World because many of the partners I had already knew about the benefits, it was only me that just found it strange with all these different tax haven countries.
I started to do some investigation about how to get a company in a tax haven, to find information by my local authorities and made some research on what others have to say about it. The response was massive and not to mention people were freaking out while asking this question, is there any benefit for me to incorporate a business in Cyprus?, I should never have asked.
People which conduct regular business as usual and which trust their government and the political stability in their country will never participate with such activity.
I decided to go my own path and started with an Agent I found through Google, it was one of those links on page 1 searching for Cyprus company formation, I was lucky and the guy helped me to get everything done, it was a seamless process I just need to provide some ID a reference letter and then sign a few documents and return them by post mail. A few weeks later I got all the documents and Apostil and took them to my lawyer, since I wanted him to verify everything was ok, and it was.
Now I had my first Offshore Company in Cyprus and I decided to use it as my Holding company for some extra protection in my future business venture. I registered the Cyprus Holding Company with the authorities in my country, so that they were aware of it and to avoid any troubles in the future. Next step was to have my Cyprus Holding company to register a local company which was a LTD , and everything was approved by the authorities no questions asked at all.
Today I have still my Cyprus Holding Company and I still use it for the same, I have several local and International companies registered by this Cyprus Holding Company and without any troubles, if some of the business vehicles don’t do well I just liquidate them.
So now what is my point?! Well, the point is, it is not rocked since to get a Offshore Company in a Tax haven, nor it is complicated to have it registered, and the possibilities are many not to speak the protection and anonymity you become if you are doing it right.
If you are looking for an easy and not expansive way to get your Offshore Company registered I would defiantly go with cclogic.com they are capable to do the registration fast and they are also reliable.
If you look for a Cyprus Bank Account with a Debit or Credit Card, then they are also able to help you, they work with one of the largest banks in Cyprus and you get everything you need and as you know from your local bank, from Internet Banking to Multi Currency bank account.
Cyprus is a major offshore and onshore business centre with great business facilities and thousands of offshore companies
Cyprus is a major offshore and onshore business centre with great business facilities and thousands of offshore companies, many firms are incorporated there every year. It is also a beautiful island destination to visit or live on, offering convenience for flights to Europe, Asia and the Middle East and an efficient communications network.
The benefits of opening a bank account in Cyprus include low tax on corporate profit, tax free dividends to shareholders, double tax treaties between Cyprus and 27 countries including Russia and the Ukraine, offshore companies located on the island are able to buy duty free items, including cars, and Cypriot off-shore company owners can remain anonymous using nominee services.
Whether you are a resident of the country is not important, however if you want to open a bank account in Cyprus it is much more preferable to open it in person rather than try to correspond with the bank from abroad.
Before you arrive in Cyprus you are able to open a bank account just by visiting a Cypriot bank in another country, opening a bank account using this method will mean that your signature has to be checked and confirmed before an account can be opened. There are branches of the Cypriot bank in many countries abroad.
It is advised to visit as many Cypriot banks whilst you are in your own country as possible and take the time to compare their rules and regulations, what ID do they require, their interest rates, etc. should all be checked out. They will all vary considerably and you want to obtain the best deal possible. Also check out their fees for personal accounts and international transfers and any other services you think you will need to use.
It is always helpful to seek other people’s advice and recommendations, ask business colleagues or friends if they have any experience of any of the banks and listen carefully to what they have to say. A good recommendation can sometimes be far more helpful and truthful than any type of advertising. Then take a trip to the bank and introduce yourself letting them know you are interested in opening up a bank account with them.
For anyone to open a bank account they must be over the age of 18 and you will to take proof of your identity to show them. This is normally a passport, driver’s license or some other form of ID, preferably with a photo attached. Letters with your home address will also be needed, this could be an electricity or telephone bill. It is up to you what type of bank account you intend to open depending on the reasons why you require it; it could be anything from a current account to have a salary paid in, a savings account to save money for your retirement or a foreign currency account.
Even if you are planning to retire and live the rest of your days in Cyprus it is always a good plan to keep your bank accounts in your own country up and running, they will always come in useful. If you have family still in your own country then it is wise to keep some of your funds in this account for when you visit them as it will work out cheaper to use these funds than paying the commissions charged to convert foreign currency. Most expatriates who live in another country than the one where they would normally reside, such as Cyprus, have at least two accounts open, one for international transactions and one for every day business.
If you are considering opening a bank account in Cyprus then you can always start your search for an appropriate bank by searching the web, type in ‘Cyprus bank account’ in the search box and go from there. From the options that appear, select the site that offers all the types of banking you need. Then contact the bank and request a phone consultation, ask them to mail you read outs about the bank. Always enquire about debit and credit cards and business banking. Other areas you might be interested in are wealth management and asset protection.
There is plenty of information online regarding offshore bank accounts, they can save you money and you can relax knowing you have a great retirement fund planned for the future. Open a Cyprus Business or Personal Bank Account