Written by peter
Sunday, June 14th, 2009
As one of the only countries within the European Union, Cyprus has the lowest corporate tax which benefits businesses worldwide, trading International. A Cyprus Bank account is literally the most important part when considering setup a Cyprus Company as an Offshore Company.
Many have already incorporated in Cyprus because of TAX benefits, a Cyprus company only pays 15% corporate tax on net profit and even no tax if it is registered as an IBC (International Business Company) while many have the understanding that a Cyprus Company Formation and the opening of a corporate bank account in Cyprus isn’t something everyone can enter into, we thought it would be time to clarify a few things.
If you for any reason decide to incorporate in an offshore jurisdiction like Cyprus is, or any other offshore country you properly quickly find it difficult on where to start and what does it means for my business case and is it reliable to have someone which you don’t know to manage the incorporation of my offshore company. Serious business people what at least ask them self the question how difficult it might be to open the Cyprus company and the Cyprus bank account and maybe just leave it with the consideration.
A Cyprus company isn’t difficult to setup it takes only a few weeks for the authorities in Cyprus to approve the name and the registration of the new company, once the Cyprus company formation has taken place it is just a matter of a few documents to open the corporate business bank account with a bank in Cyprus.
For the Cyprus Company Formation it only needs a utility bill (phone or electricity bill) in English and not older than 3 months, a passport copy and the final incorporation agreement you will get from your Cyprus Company Formation Agency. For the opening of a corporate business bank account in Cyprus you will additionally need to provide a reference letter from a current bank, a lawyer or certified accountants, you will only need the reference letter from one of them not 3 in all.
As soon as the above is received by your Cyprus Company Formation Agency the registration of the Cyprus company can begin which is followed by the opening of the Cyprus corporate business bank account.
The major banks in Cyprus have all a state of the art banking platform for your day banking needs but also offer a range of additional banking services for investments, foreign exchange trading and savings. Through the Internet banking you will be able to send International Wire Transfers, check your account balance and much more. In addition some of the banks also offer Online Stock exchange trading for day trading or regular trading.
CCLOGIC LLC has specialized in the Cyprus Company Formation and in the Offshore company formation in several jurisdictions worldwide. Further to the company formation we have a large number of banks we work with and for which we are an official introducer, we handle the entire process for our clients fast and secure and for clients worldwide.
