Posts Tagged Cyprus International Debit Card
Opening an offshore bank account can bring many benefits.
Posted by peter in Cyprus Bank Account on January 2, 2009
Opening an Cyprus offshore bank account can bring many benefits for an individual or an international company. A Cyprus bank account for example offers double tax treaties with 27 countries and is an excellent center for the establishment of corporate entities with advantages unequaled in offshore jurisdictions.
Other offshore financial centers include the Bahamas, Barbados, Bermuda, Cayman Islands, Channel Islands, Hong Kong, Isle of Man, Luxembourg, Malta, Panama, Seychelles, Switzerland and the Turks and Caicos Islands. There are further jurisdictions that are not listed here.
A full range of financial services are available from Cyprus offshore banks, including deposit taking, credit, wire and electronic funds transfers, foreign exchange, letters of credit and trade finance, investment management and investment custody, fund management, trustee services and corporate administration.
Cyprus Visa Debit Card for my Cyprus Bank Account, what’s the benefit?
Posted by peter in Cyprus Bank Account on December 28, 2008
You decided to find out more about the benefits to have a offshore bank account with a Visa Debit Card, through this post I will explain a bit about how to get the bank account and the Visa Debit card in Cyprus.
In general it is most common that people outside Europe want to have a way to accept payments by Wire transfer for larger amounts, or to pay their bills by Bank Transfers, often an IBAN number is required for the bank account for other companies to make a Wire Transfer to a European Bank Account. In some countries it isn’t possible to just open a bank account in the local bank and that’s where it is a major benefit for companies and individuals across the World to be able to open a Cyprus Bank Account and also get a Cyprus Visa Electron Card connected to that account.
The Visa Electron Card can be used in all ATM’s around the world and have no limits, except funds needed to be available on the account.
There are also other reasons for companies or individuals to open a Cyprus Offshore Bank Account, one could be assets protection another could be to simplicity the payment transfers from companies in Europe to non European Companies.
Did you know that it is only possible for any authority in the World to get access to your Cyprus bank account if they can proof that you are involved in Money Laundering or financing of Terrorism? Most people are not. What does that mean for me? Simple, if you for any reason get in troubles with your creditors or you, by court order, have to pay everything you owe to an Authority or to a creditor because you really owe the money to them, then it is not possible for anyone to access the money on your Cyprus Bank Account, which make it possible for you to start a new venture later on or to secure your private finances to be able to exist in the future until you get a regular income again.
Now while you have a Cyprus Bank Account, then you might want to have easy access to your money, this is what you get with your Cyprus Visa Debit Card, you do not need to make a Wire Transfer to your local bank account and wait 2 -3 days for the money to arrive, no you access you funds immediately 24 / 7 / 365 that mean you will always have cash in the hand as long as you have money on your Cyprus Bank Account.
Interested? Sure I was too, and it is very easy to get this thing started, you only need a Reference Letter from your local bank which includes a letter of good standing and some ID with a picture of yours, once you have this in place it needs some application which is about 2 -3 pages and only thing you need is to read it and sign it, that’s all. Typically it takes about 2 – 3 weeks for the Cyprus Bank Account to be operational and to issue the Cyprus Visa Debit Card.
Did you know that Cyprus is a full member of the European Union? Yes but why care? Because you can get a offshore bank account in many countries and islands but your money isn’t secure there, often the banks are not regulated by any authority nor they don’t have any political infrastructure. It will put up some red lights on your business partners minds. Cyprus is known for its integrity and its banking infrastructure and your money, business and assets are secure there. You do not need to worry each day if everything is still there, it is.
Who can open a Cyprus Bank Account and get a Cyprus Visa Debit Card?
Every individual or company in the World can get it, as long as you have a reference letter and a letter of good standing together with valid ID.
This article should cover most questions we face daily regarding Cyprus Bank Accounts and Cyprus Visa Debit Cards, however should you still have questions than please visit our website and feel free to contact us. Above are the opinions of CCLOGIC LLC and it’s Author.
An anonymous debit card simply means that you don’t have to have your name printed onto it.
Posted by peter in Cyprus Bank Account, Cyprus Company Formation on December 23, 2008
An anonymous debit card simply means that you don’t have to have your name printed onto it. You can either choose to have someone else’s name printed onto it, put it into the corporations name or even choose to have the card printed with no name on it at all. The choice is yours.
An anonymous debit card programme will operate in the following way. Normally a card-issuing bank will issue the credit card either to a trust company or to a trust account held at the bank. A card reseller has the trust account held in an offshore bank in a different jurisdiction than the one where he is based in order to avoid any legal issues. The reseller is the one who has all control over the debit card and the money on it and will normally provide information online for you to have the ability to check the account and its transactions, balance, outgoings, etc. The actual money is held in the resellers trust account and he is the one who has the signatory power.
To obtain a debit card any other way requires opening up an offshore account and then applying for a debit card, however this method means that it will not be anonymous. Cards that are issued directly from the banks always have the name printed on the debit card of the signatory on the bank account. Offshore banks will also require different forms of ID and references before you can open an account and get a debit card from them.
Some agencies are able to set you up with an International offshore credit card, there is a VISA debit card with credit card facilities offered through leading International banks without having to obtain credit checks or bank references. They place great emphasis on client confidentiality. The card is given out with an offshore current business bank account from reputable International banks.
To qualify for an international offshore credit card it is necessary to have an offshore company already set up. With an International debit card you are able to cash money and view your account balance through an ATM, if it is marked with VISA/PLUS logo anywhere in the world. Money debited on this debit card can be taken out from over 855, 000 ATMs in 149 countries.
Money deposited in a debit account is much safer than carrying it around in your pocket and in the unfortunate circumstances that you should lose the card or have it stolen then the account will be frozen instantly.
When applying for the debit card the bank needs identification of the customer, but once the card is issued there is no name printed on it and so it is an anonymous debit card, this also means that it is issued immediately as there is no time to wait while your name is printed. These debit cards can be opened using both Euros and US dollars.
When you apply for the card there is no request for a guarantee deposit or opening payment to be made and if you are travelling overseas there is no requirement to show the information on the amount of money deposited on the card. When accounting in a foreign country there is no need to be concerned regarding the currency exchange as it is all processed automatically.
If you require an offshore bank account it is always a good idea to try and visit the bank yourself to set everything up, there are many offshore jurisdictions and there is very likely one not too far from your country of residence. This is especially important if you are setting up a business account and will be using the bank account frequently or if you are intending to deposit a large amount of funds. Check out where and who will be holding your money. Lastly, be aware that just because your bank account and company are offshore it doesn’t mean that you can carry out business in your home country or with fellow residents and avoid taxes.
Offshore Company Experts
