Posts Tagged Offshore Bank Account
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.
How it is possible to take your entire Online Business Offshore.
Posted by peter in Cyprus Company Formation on March 12, 2009
Many Offshore Service Agents are only able to help you with the offshore company formation and opening of Offshore bank account, some even if they don’t know anything about this business, also open Merchant Accounts, or at least tell you they can.
Both the Offshore Company Formation and the Merchant Account Industry takes a great amount of knowledge to not mislead clients who think they are in good hands just to later on in the process to find out they didn’t have what they paid for.
In fact everyone can open a Merchant Account and establish an Offshore Company but only a handful are able to make the right setup.
How can it be setup wrong?
Very simple, if the Agent which established your Offshore Company just has a reseller agreement with some accidental provider then it is common to just submit your application to this one, that’s good you think?! Stay on here, now there are so many Merchant Account resellers out there and processors which just started up, that the chance to get your case in wrong hands is almost 95% this you won’t find out at the beginning but if your Merchant Account is wrong coded or they placed your new established Offshore Company in the wrong Visa or MasterCard region you will get big troubles and your entire setup will be shut down and be worthless.
With so many “new kids on the block” in the Payment Industry you can easily risk that the processor which your Agent advised to use is that hungry that they take on any business case also the Merchant case which are out for a scam and will blow up the processor. This will affect you in the way that you risk the volume processed will not be paid and this company will disappear.
Also often seen is that a processor (calculate their profit) first take on a new Merchant Case as new business (while just incorporated in an Offshore Jurisdiction) and after a few month cheese the account and freeze it because they will claim it isn’t legal business.
Since I have been in both businesses for many years I have seen a lot of incidences, the forums around the Internet are full of examples from both sites (the Merchant and the Payment Processor) and in almost any case it is because of a confusion about what it all is about.
Only an Agent which knows the Offshore Company formation business or has a really good network of Tax Advisors and Legal Advisors to back up is trustworthy to go with and can ensure you get the right solution, this applies also for the Payment Processing Industry, you will need to have been in this business for many years and have followed the marked close to be able to advice Online Businesses for the solution that they need.
Don’t be fooled into anything make a good check on the company you consider to go with, ask questions and look how good they are established on the Internet, do they only have a single webpage or have they a well established an sophisticated Internet presents!
I see cases on a daily basis, in our company we get every day a merchant, a processor or an offshore agent which want to work with us and which obviously is new into this. We get requests by people which just have a lousy website and tell us they have been in the business for ages. Sad it is so and it makes it more important than ever to take a close look at the company you consider to deal with.
For more information or the right Offshore Company Formation setup, please contact CCLOGIC
An offshore bank is simply a bank where you can open an account but it is not in the country where you reside.
Posted by peter in Cyprus Bank Account on December 13, 2008
An offshore bank is simply a bank where you can open an account but it is not in the country where you reside. Most people decide to open a bank account in a country where there is no tax to pay or the rates are extremely low, one that provides financial and legal benefits, opening a Cyprus bank account can give you many of these benefits.
Advantages to opening a bank account in Cyprus include a great deal of privacy and confidentiality as well as less restrictive legal laws and rules than those imposed by an offshore bank account. They offer their customers protection against any kind of local political or financial stability and have a greater access to deposits.
The majority of offshore banks are located on island nations; some of these include Cyprus, Jersey, The Isle of Man and Bermuda. They can also however be found in other countries that are not islands, such as Luxembourg.
Once offshore banking was associated with illegal activities, laundering money, organized crime and tax evasion, however there are plenty of law abiding citizens’ who maintain an offshore bank account as individuals or for their international business.
Offshore banks have no legal responsibility to report income to other tax authorities as they are protected by bank secrecy. This doesn’t make the practice legal of course, if you have an income that you don’t declare to your own tax authorities then it is illegal and if they do become aware that you have this account you could be in some serious trouble.
Since 2001 there have been more demands for increased directives on global finance, especially those relating to offshore banks and tax havens, due to their reputation and the easier risks of illegal money flows.
Why do people choose to open a bank account offshore? Generally, the offshore banks will offer higher interest rates than those that are on offer by the banks in the clients own countries. This is possible as their overheads are considerably lower due to the location and the absence of any involvement by the government of the jurisdiction.
For residents of countries that are politically and economically unstable, putting their lifesavings in a bank account can be a risky action. Offshore bank accounts can provide a safe and reliable place to put their money with no fear that it will be reduced or even frozen and they subsequently lose everything.
There are few industries that a small island community can earn money from, many of them are popular tourist destinations and tourism is their main industry.
Offshore banking provides another industry they can take on and compete with other countries. Also it can provide a way of creating investment and growth in the economy of the country as well as helping to spread out the world’s finances to the developing world.
When an offshore bank pays interest most of the time tax is not deducted. This is a huge benefit for those who don’t pay tax on global income and those who don’t pay tax until the tax return is decided. It is also possible to set up an anonymous bank account in Cyprus or another jurisdiction, this option isn’t available with domestic banks. Higher rate loans based on the risk and investment opportunities are also more viable than anywhere else.
Supporters of offshore banking claim that creating competition in the tax and banking world is a benefit to the industry, as it permits people to select a suitable equilibrium of services and taxes. Those against offshore banking say that the competition puts the banks at a disadvantage, as governments in developed countries are forced to deregulate their banking systems in order to stop everyone turning to offshore banks for their financial needs.
There are disadvantages of offshore banking and the main one is that it is often related to tax fraud and organized crime. Although there are instances and once there was a time when the majority of people who used offshore banks might have been involved in these kinds of activities, now a large number of expatriate and international workers use and open offshore bank accounts.
Due to the location of many offshore banks it can be difficult to get information and access the bank, contact would be mostly by telephone or via email and this isn’t always proficient.
Accounts can easily be set up online and all business transactions handled online, which many people prefer. Those people who receive high incomes usually seek out the services of offshore banks as they tend to pay a higher rate of tax and having an account offshore can save them money.
Offshore Company Experts
