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How do I set up an offshore company in Cyprus and what are the charges?


Corporate Services
Jan 26, 2009
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I am interested in setting up a Private Bank and need to know how to go about it and what the costs & charges will be.
Generally an ethical country like Cypress will want to open up a bank with a company that already has a bank elsewhere. That being said be prepared to spend several hundred thousand on legal fees needing to hire a Cyprus law firm familiar with this sort of work. Then there is usually a deposit of a few million cash held by the government. Banks operating within another bank are no longer allowed anywhere. You would need a brick and mortar bank. I am not trying to be encouraging because if you need to ask you are not in the industry and the chances of success would be very slim.