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What are the new requirements to open Seychelles company + CYP Bak Account?

clemens

clemens

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Mentor Group Lifetime
Jan 2, 2009
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#1
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A friend of mine that I told to get a package similar to mine came back to me yesterday and told me he had to provide a lot more information and documents thant just a copy of passport and a utility bill in English! I was wondering if some was possible able to post the requirements to open a Seychelles company and Cyprus bank account, I would like all the requirements listed here if possible.
 
#2
To accomplish both easely you simply need to provide the following:

  1. copy of valid passport
  2. copy of utility bill not older than 3 months if not in English a translation from a certified translater is required.
  3. bankers reference letter from your current bank for your person, only for some of the banks it is required.
  4. brief business description about the activity of the company 3 - 5 lines not just 3 words!
  5. aLL incorporation documents with Apostille (we will provide if the company is registered with our help) and Certificate of Good standing (only if the company is more than 1 year old)
  6. the physical place of managing the operations of the company. Registered office address is not acceptable by the bank any longer.
  7. the tax identification number and country of tax residency
  8. the initial application that will be send to you by us


Note in some cases the bank or the registry will have more questions that need to be answered in order to complete the process.
 
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#3
Why do they need to know the tax identification number for the client / customer and country of tax residency? this is new!! :smiley_257:
 
#4
I think because they have to report your incoming transfers of the account you open with this bank to your local tax auth. it seems to be standard for most banks around. I don't know if they really report it or just ask for it because they must!!
 
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#7
To accomplish both easely you simply need to provide the following:
  1. copy of valid passport
  2. copy of utility bill not older than 3 months if not in English a translation from a certified translater is required.
  3. bankers reference letter from your current bank for your person, only for some of the banks it is required.
  4. brief business description about the activity of the company 3 - 5 lines not just 3 words!
  5. aLL incorporation documents with Apostille (we will provide if the company is registered with our help) and Certificate of Good standing (only if the company is more than 1 year old)
  6. the physical place of managing the operations of the company. Registered office address is not acceptable by the bank any longer.
  7. the tax identification number and country of tax residency
  8. the initial application that will be send to you by us


Note in some cases the bank or the registry will have more questions that need to be answered in order to complete the process.
Click to expand...
Are these all mandatory for all banks around? and only banks or also for offshore company formation? Just wondering since some new requirements are in your list which wasn't applicable last year when I got my SC company!
 
#9
I don't think that's going to happen, these requirements seems to be minimum requirements for now, more will come anytime soon :(
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I agree with you, will have to wait and see what the next will be :)
 
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#10
All these will soon be minimum requirements to open a Cyprus bank account or any other offshore account. Just wait and see, all banks will be required to collect such information and much more in the future.
 
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