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Will Cyprus Incorporation Be Right for Your Needs?

CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.
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If you’re interested in setting up an offshore company, but you’re not quite sure where to seek out incorporation for your new firm, you’ll discover that Cyprus offers superlative advantages.
We are proud to offer Cyprus formation to our valued clientele. Our team has years of skill and experience, which is utilized in order to ensure that every client receives speedy, legal incorporation of his or her new company, for very affordable rates.

After you’ve learned how creating an International Business Company in Cyprus will benefit your career goals and business plans, you may just be tempted to reach out to us. We will be standing by in order to answer any questions that you have.

The process of hiring us in order to arrange your Cyprus company will be quick, simple and straightforward, so do consider getting in touch today. You’ll be so glad that you did!
Now, let’s discuss the specific benefits of a Cyprus company…

Benefits and Features of Cyprus Incorporation
First of all, in case you didn’t now, Cyprus is an island nation which rests in the Eastern Mediterranean Sea. This country is a republic which has become world-renowned as a global financial center. In addition, it’s known for being a perfect home for International Business Companies (IBCs). In particular, those who wish to do business within the European Union (or prefer to direct EU-based investments outward) will benefit from Cyprus incorporation.

One key benefit of Cyprus company formation is access to a beneficial taxation system which is a bona fide “ tax haven” for offshore companies. While Cyprus does comply with all EU laws and functions as a member of the EU, it definitely offers superior tax advantages to those who choose to incorporate their IBCs within the country. If you’d prefer to have a company set up in a true tax haven, Cyprus will be ideal for your needs.

However, Cyprus isn’t just for EU residents or investors. It’s actually a smart strategy for entrepreneurs all over the world.
Another advantage of choosing Cyprus is that this nation is a great place to set up international trusts which are extremely private. Since these trusts may be established without the disclosure of client names, they are an effective means of storing assets anonymously.

Get Started with Cyprus formation Today
Now is the best time to enjoy the benefits of Cyprus incorporation. By choosing to hire our company, you’ll be able to sit back and relax as we handle all of the details on your behalf. We know the ropes and we’ll be able to get your new International Business Company formation in very short order.
 

JohnSeed

Corporate Services
BANNED MEMBER
You can do that as long a s they don't detect what kraken is, but since you have posted it on this forum it may already be to late! Cyprus is not Crypto friendly at all, maybe RCB putin bank is but you won't get an account there thar easy.
 

Admin

Forum Moderator
Staff member
You will need an EMI inbetween before you transfer any money into a Cyprus company which is originated from Crypto. The banks in Cyprus simply don't accept Crypto as it is now.
 

rey skywalker

Entrepreneur
i am been tried 2 day ago open account in national bank of greece , i stayed there 3 hours was worst than police interrogation, any body knows easy bank going in south cyprus, to it looks like almost mission impossible open account , i n have new register cy comapny everthing in order super nice computer parts trading , all in the good place , but banks say i am in risk list of activity.
To me sound like we not want topen you account , any suggestion?
 

Sols

Staff member
Mentor Group Gold
Why did you go with NBG? They are in the process of being sold to AstroBank (which was formed when Piraeus Cyprus bought USB).

Bank of Cyprus, Hellenic Bank, and Alpha Bank are usually the banks that onboard international companies.

But if your activities are high risk, probably no bank in Cyprus will take you without some serious convincing. Banking in Cyprus hasn't been easy-going for years now.
 

rey skywalker

Entrepreneur
i have personal accoout there 20 years seems to me the good choice , my business is no risky , i will go to the others banks next week wil se what is answer any sugeestion for any bank any branch where they are business mind?
 

Sols

Staff member
Mentor Group Gold
You will most likely keep getting rejected if you don't go via an introducer. Introducers are licensed by CySEC and a list can be found here: Cyprus Securities and Exchange Commission | APPROVED ASP

I already mentioned Bank of Cyprus, Hellenic Bank, and Alpha Bank. The big branches in Limassol and Nicosia are usually the best equipped but without an introducer it's going to be hard to make them listen to you.
 

rey skywalker

Entrepreneur
it is a kind of mafia? i do not get why i need an introducer, listen they listen probably i miss something , i have no problem get an appointment anyway banks look to me pretty s deserted , hm not rally a good sign

i had an account in cyprus in fbe 11 years ago was not a big deal , but i guess times chages, 11 year ago seeems to me like 100 years ago now
 

Admin

Forum Moderator
Staff member
The introducer has been mandatory for all the time I have known to this industry, at least 20 years by now. FBME was a crap bank, the only benefot was their total anonymous meistro card which was awesome. It was issued by their Branch in Tanzania. But as it become known the bank got trouble and the card vanished.
 

rey skywalker

Entrepreneur
i have been today in bank of cyprus Limassol (with introducer), the introducer can t help so much , he can fill up forms for me

you need

1 real office ( contract , and you need pay rent from the bank account
1 employeee ( with full social insurance paid )
this 2 things is mandatory from central bank or cyprus new law, so difficult to find way around

after this condition is ok , you can start do compliance proceedings

so you come up with 15000 euro cost a year plus accountacy cost tax etch

i think is a bit too much fro a cyprus company, only big business can afford this , if you turn over is more tahna 4 m euro make sense

I will try more banks tomorrow , with introducer

Have a nice day
 

pierino

New member
Cyprus has become very expensive. I used to pay for a holding company something like €1000 per year. However due to compliance changes and some recent changes where appointment of external auditor is required, it costs me now something around €5000 per year with nominee shareholders.

What happens without nominee shareholders? Can anybody see you are the UBO of your company in some public registry?
 

rey skywalker

Entrepreneur
yes information is public you need to pay small fee

in my opinion cyprus is too expensive and complicate to open bank account , but tax rate is low if you have real businesss can be ok , staff ids not so expesive and is educated
 

Sols

Staff member
Mentor Group Gold
If you don't appoint a nominee shareholder nor director your name will be visible on the public registry in Cyprus.
It's also worth noting that, regardless of nominees, Cyprus is in the process of enacting a UBO registry. IIRC, data is to be collected by March 2020 and then the registry goes live 2021.
 

BlueMist

Entrepreneur
It's also worth noting that, regardless of nominees, Cyprus is in the process of enacting a UBO registry. IIRC, data is to be collected by March 2020 and then the registry goes live 2021.
So this will make nominees effectively redundant to keep UBO name out of public records it seems?
I am thinking about getting rid of my corporate nominee trust, as it only seem to complicate getting bank accounts even more...
 

Sols

Staff member
Mentor Group Gold
So this will make nominees effectively redundant to keep UBO name out of public records it seems?
I am thinking about getting rid of my corporate nominee trust, as it only seem to complicate getting bank accounts even more...
Not all nominees are created equal, but the vast majority of nominee structures are going to become ineffective.

You need to truly not be the UBO or at least fall outside of the scope of UBO definitions, which can be done in some cases with more exotic structures like trusts, foundations, and such.
 

Admin

Forum Moderator
Staff member
It's also worth noting that, regardless of nominees, Cyprus is in the process of enacting a UBO registry. IIRC, data is to be collected by March 2020 and then the registry goes live 2021.
Thank you for adding this information. I read about it already but didn't find a date for when this will be.
 
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