Recent content by bombaelefant

Hi everyone, At the end Cyprus RCB bank did not close our bank account. The final version of the Central Bank of Cyprus circular on “shell” companies is much more improved than the original “draft” that created (unnecessarily) some confusion to people and banks. here you can find the latest...

Construction.

Do you know which banks are accepting them? I was banking with RCB bank and they closed my account even though I am doing proper business (although not in Cyprus but in Sweden with a permanent establishment in Sweden -so, no taxes paid to Cyprus-).

Hello People, I just wanted to give an update about this situation. So, because of American pressure, Cyprus announced new regulations on offshore/shell companies and all of the shell companies need to close bank accounts. You can go around this by setting up an office with employees in...

Around three years. The problem is with the parent company which is based in UAE (as I mentioned above). As far as I know EU banks do not like to cooperate with UAE because they are a non hague apostille country Do you think that it is safe to store 100-200k EUR on a EMI? If so which one...

Hi People. I just got an email from RCB bank Cyprus that they will not be engaged in business relationships with companies that have the characteristics of “shell companies” and they will close my account in November. So I am looking for a new bank. We are a construction/workforce agency with...

Good structure. Do you need to actually file a patent for your asset/idea to be able to do this? I have a construction business which is registered in Cyprus, working in Sweden with a permanent establishment and trying to find out a way to pay less taxes. So far I could optimize it with the...

Hi People. Sorry I simply can't find where to make a new discussion here, so I decided to comment under this post. I just got an email from RCB bank Cyprus that they will not be engaged in business relationships with companies that have the characteristics of “shell companies” and they will...

Newby here, would like to find the best solution to optimize taxation for a Cyprus company (working in Sweden, has permanent establishment)