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aalakalpha

New member
Hello, I recently incorporated a Cyprus Ltd and I'm looking for a bank account. I act as the director and secretary of the Company and live in Cyprus. I receive royalties from Amazon amounting to a mid-five-figure sum per month and I get them in one single payment. Obviously, I would like to avoid that my funds getting frozen. What bank/EMI would be recommended for my needs?
 

aalakalpha

New member
I was just reading that a lot of people got their funds frozen with EMIs, not related to my business but in general. With much smaller amounts, therefore I was worried that it will cause issues if get larger deposits on a new account.
 

marzio

Entrepreneur
I was worried that it will cause issues if get larger deposits on a new account.

It's not the amount that gets the account frozen but the sender. Amazon is one of the top companies in the world so even if they will send you 1 milion nobody will ask you questions because it's Amazon.
 

aalakalpha

New member
It's not the amount that gets the account frozen but the sender. Amazon is one of the top companies in the world so even if they will send you 1 milion nobody will ask you questions because it's Amazon.
That sounds reassuring, any recommendations for a specific bank/EMI?
 

Forester

Silver Member
It's not the amount that gets the account frozen but the sender. Amazon is one of the top companies in the world so even if they will send you 1 milion nobody will ask you questions because it's Amazon.
Perhaps not with 1 milion out of the blue :) but generally, @marzio is truly right.
Wise would work ok for you.
No, please, no :).
Avoid at any cost.
1) Wise is, unfortunately, one of the EMIs where you can have your account frozen under totally fuzzy circumstances, regardless of a real situation – simply, their AI probably missed when evaluating transactions and profiles. (BTW, I heard that Wise was reluctant to Cyprus companies – but it's not important IMO.)
2) The true is that Cyprus Ltds are not very favorized, not even popular among financial institutions. But your business looks really clean and legit, you are the director and secretary (i.e. no nominees) and you are living at Cyprus, so your company is not a typical Cyprus offshore. Then, IMO
– you probably can go with any Cyprus bank you like (OK, it is well known that Cyprus banks are far from being excellent);
– or you can choose much better EMI (Currenxie or Airwallex in HK, Intergiro in Sweden, something different in the UK /I am not so well oriented there, perhaps Multipass, for example/)...
 
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Forester

Silver Member
I never had any problems with them.
I believe you – and I consider you to be a lucky man ;) (Otherwise, there is a plenty of /true/ stories re: Wise, even here at forum.)
 

CyprusLawyer101

Mentor Group Gold
Hello, I recently incorporated a Cyprus Ltd and I'm looking for a bank account. I act as the director and secretary of the Company and live in Cyprus. I receive royalties from Amazon amounting to a mid-five-figure sum per month and I get them in one single payment. Obviously, I would like to avoid that my funds getting frozen. What bank/EMI would be recyou shouls be ommended for my needs?
Hello ,
You ahould be able to open an account with a local bank in Cyprus. We work with almost all the banks in Cyprus and we can assist in the account opening process. Let mw know if i could be of assistance.
 
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