Best bank account for a Cyprus Ltd which is a consulting business?

[bountymounty]

It can take a long time. Easily 6 weeks or longer (I’ve experience 4 months) if you don’t physically reside in Cyprus. Due to all compliance regulations banks nowadays are terrible in general. This only gets worse when you complicate things.

Anything that deviates from Cyprus passport living in Cyprus Cyprus Ltd with Cyprus bank account doing business in only Cyprus is seen as complicated. Not just in Cyprus but everywhere in (at least) Europe.

If you have solid contacts you might be able to speed things up a bit. No guarantees regardless of what providers say.

If you mean with in the past before 2010, you are right. Since approx 2010 things got challenging. Before 2010 we worked with a list of pre assigned accounts which were active already. Whenever we needed one we picked one from the list and allocated it to a company that could start to use it immediately. The day after we forwarded the client info to the bank which was back then a passport copy and a utility bill.

The good old days..

Yeah that is what I meant, it worked until 2015 as far as I remember, did a lot of such stuff back then. Sold Seychelles company with CYP account for 650 EUR could sell 30 a week of these packages.

Anyway, okay, so still possible that's good, I will have to refresh my connections in Cyprus to see how they can help.

 

[GPT]

Yeah that is what I meant, it worked until 2015 as far as I remember, did a lot of such stuff back then. Sold Seychelles company with CYP account for 650 EUR could sell 30 a week of these packages.

Anyway, okay, so still possible that's good, I will have to refresh my connections in Cyprus to see how they can help.

SC IBC with CY bankaccount? That I doubt will still work .. and I hope to be wrong. Keep us updated!

It’s already a nightmare to get a CY account for a normal EU entity. This for instance only works when there is active Cashflow and the grander structure originates in CY ie top holding in CY. For standalone activities… I haven’t seen that happening after the financial crisis.