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Paypal account in the company name

you will need proof of address from Cyprus if you want to use Cyprus bank account you can setup virtual address in Cyprus send some documents there like bank statement some dedicated IP address bill etc paypal also may ask for utility bill or telephone bill etc as address proof.
 
I'm a little confused. To whom are you going to transfer it? But as far as I can understand here, your company has to have a bank account connected to its name in the same address.