Cyprus company + Cyprus bank account just got my account today!

[clemens]

After all the reading from the knowledge people here on the forum that mentioned a hundred times that it isn't possible any longer to open an account with any bank in Cyprus for a Cyprus company!

Im pleased to inform everybody about that this is well possible if you have the right agent to help you and to setup the company to comply with the banks and International policies.

I setup a Cyprus company with a small real office that costs me 400€ / month and asked to get a mobile phone registered to this address by Telestial Cyprus.

So I made a business plan only 5 pages and everything was send to the bank handled by my agent. Today I got the allocation letter from the bank.

This means that if you do things correct, willing to spend some time on research and you have a budget more than the standard €500 that most seems to have here then it's all possible.

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[negon]

Thank you for letting us know. Where in Cyprus did you setup the office?

 

[blizz]

Cool @clemens was it difficult to find that office building? is it some shared like regus?

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[clemens]

No it was not difficult, the agent did the entire work for me. It's a single building with a room in Nicosia 😀 so all is fine. I can register more companies there if I like (limited to 5 companies at all to not look suspicious) and the bank will still be satisfied.

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[Mark Rucken]

Most people are not ready to set up an office in Cyprus tho. I have also been told that the account might be opened if there is a physical presence in Cyprus ... but no guarantees even then. Of course, it is possible, but in the past, they were opening like 100 accounts a day, now it is down to 1 account a day ...

 

[JohnLocke]

Well, there have never been any guarantees in regards to the bank account opening it has always been a decision based on each business activity.

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[Samuel Newman]

thanks for sharing good news
but if you show presence in Cyprus you will be taxable there

also, have you hired local director?
how long has it take to obtain bank account?

 

[clemens]

Samuel Newman said:
but if you show presence in Cyprus you will be taxable there
Click to expand...

Well, that's not true. I have my company there and a registered REAL office there and that's it. I'm not personal taxable but only pay 12,5% corporate tax which is perfectly fine with me. This I can reduce additional by deducting expenses from the total profits. I'm all set 🙂

It took me less than 2 weeks to get an account there with personal visit.

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[blizz]

OP don't do that public, it would be a shame if something like this get saturated. Post about it in the Mentor Group @Admin consider move this thread to MG.

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