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Cyprus Company for Online Businesses and to accept credit cards.

This is a good article about the Cyprus company Formation and which should be read by the people which are into or consider to start a Online Business.
 
Does that mean, you can just have a company registered in Cyprus when you want to apply for a merchant account but and when you are not a resident of any European country?
 
In a short term it is exactly what it means. By registering a Cyprus Company you will have access to several banks and a number of Acquiring banks which are able to take on your business and issue a credit card acceptance for your business.