Bank in Cyprus Advice please

[Yara Dager]

Hello,

I am interested in opening a bank account in Cyprus and I am thinking of going for a personal account instead of Business/Corporate account... I would like some feedback or advice please.

1. Purpose of the account:

I have an LLC in USA and I get royalties from Amazon. This is the pure source of income.. nothing else.
One of Amazon services pays only by check (since i do not have US bank account) and I want to use the bank account in Cyprus to deposit the checks on monthly basis. The amount is about $2500 every month.

2. Questions:

a. Do you think there will be an issue because it is an online business?
b. The checks come in my name, not in the name of the LLC... will the bank have a problem if the checks are coming from USA?
c. Do you think they wont like the $2500 amount (too little..) for them to open an account for me just for this?

Thanks

 

[negon]

Well, for this purpose you will need to open the account in your name (personal account) not as an corporate account.

With the question c, do you mean the total amount you will receive is $2500 and that's it or will you receive more after that?

 

[Yara Dager]

Thanks for the reply. I will receive around $2500 every month

 

[negon]

okay, so it's not a problem. If you can get accepted by the banks in Cyprus (try Bank of Cyprus) for account opening you can clear checks from the USA without problems.

 

[Yara Dager]

auric said:
okay, so it's not a problem. If you can get accepted by the banks in Cyprus (try Bank of Cyprus) for account opening you can clear checks from the USA without problems.
Click to expand...

Thanks

 

[bountymounty]

Yes checks can be cleared with bank of Cyprus, can confirm that!

 

[negon]

Did you get your BoC account? OP

 

[Yara Dager]

not yet... did not apply yet

 

[negon]

What are you waiting for?

 

[Yara Dager]

auric said:
What are you waiting for?
Click to expand...

Sorry missed your reply... I was preparing some papers and documents.

I am opening with AstroBank in Cyprus (Piraeus Bank)

 

[JohnLocke]

Did they pre approved your application already?

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[Yara Dager]

Admin said:
Did they pre approved your application already?
Click to expand...

Almost.. they will give me final answer during the next week... but the lady over the phone was about to say: Just pass by Limasol Branch next week 🙂

No introducer so far as I am going to visit them physically

 

[Yara Dager]

To be honest, more happy to see the new version of Cyprus after 14 years! Last time I was there, the Cyprus pound was 2.2 USD!

 

[JohnLocke]

Yara Dager said:
Almost.. they will give me final answer during the next week... but the lady over the phone was about to say: Just pass by Limasol Branch next week 🙂

No introducer so far as I am going to visit them physically
Click to expand...

Great.. wonder how it's possible to do without introducer, in the past it was impossible by several attempts.

Yara Dager said:
To be honest, more happy to see the new version of Cyprus after 14 years! Last time I was there, the Cyprus pound was 2.2 USD!
Click to expand...

Much has changed ever then....

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[Yara Dager]

Admin said:
Great.. wonder how it's possible to do without introducer, in the past it was impossible by several attempts.


Much has changed ever then....
Click to expand...

Yeah. It is stated on the website they need an introducer..but it seems if you go in person, and a personal account, they may put that into a standby mode

 

[JohnLocke]

Yara Dager said:
Yeah. It is stated on the website they need an introducer..but it seems if you go in person, and a personal account, they may put that into a standby mode
Click to expand...

Thanks for keeping us informed about that 🙂

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[3FX]

Following... Interested in opening an AstroBank account myself... How did it go? I don't see much on the AstroBank website about needing an introducer... Or how to start the application process... Just need a cheap IBAN... Damn FX Broker jammed me up. Says they will allow debit / credit card withdraws on the broker website... I start the process to verify the account and boom, wires only and what is your banking info... BS I tells ya! damn_(

 

[negon]

3FX said:
Following... Interested in opening an AstroBank account myself... How did it go? I don't see much on the AstroBank website about needing an introducer... Or how to start the application process... Just need a cheap IBAN... Damn FX Broker jammed me up. Says they will allow debit / credit card withdraws on the broker website... I start the process to verify the account and boom, wires only and what is your banking info... BS I tells ya! damn_(
Click to expand...

Sad to hear I was in the perception that you already found a good banking solution to receive money from your business?

 

[3FX]

Ya I thought so as well SMH.

 

[3FX]

At this point I'm thinking I may as well sell the offshore corp and start a local one... Would be easier and cheaper.