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I have another question, do you think it matters which bank (offshore) you open an account with in order to be able to make money there?

What if it isn't a requirement to have a real office and staff for my company but I still want to establish that, is it possible or will I be required to apply for any permission somewhere?

I was asked for a PoA (power of attorney) by one of the credit card payment processors we want to work with. I don't know what it is, they told me all offshore company owners have a PoA and that I will be required to provide it in order to proceed! From all the documents I have received for...

How long does it take for the new documents to be available where my name will appear as ultimate beneficial owner for the company?

That's why you need a certified accountant to sort this application process out for you. I paid for the account opening (not with this bank, with other) and they certified my documents, no problems.

Found another bank in St. Vincent. They are good but require bankers reference letter which I'm asked my bank to provide they have to discuss this internally!

Do you have any personal experience with them Admin?

Yes got a real merchant account for my company in Dominica, I don't want to tell the fees on a public forum but between 4 - 5%!

More secure yes, that's why it would be great to know how to sort this problem.

How fast did you get approved by the banks ? What requirements did they had other than passport and utility bill copy?

Thanks will write my review about Piraeus and Hellenic bank very soon. So far very happy guy and holder of accounts with these banks. Awesome support and banking facilities couldn't be much better!

Try to apply it's ease.. I'm waiting for final approval.

Can confirm it to apply for Piraeus and Hellenic too, I don't know about USB bank.

I got this confirmed by a tax consultant in my country!

All done, have account with Hellenic and Piraeus Bank Cyprus and it's working with internet banking and 2 currency account. I got payment processing by worldpay.com and 2co.com with company in Dominica! I'm happy. setting up a Cyprus corp with banking in Cyprus and Mauritius and maybe a 3rd bank...

They declined my application todya!!! :( Will try again with another company in Cyprus once done.

Thanks, what a wonderful world. I'm almost done with my setup, Today I hold a Dominican company, a SC company, accounts with Hellenic and Piraeus Bank Cyprus and payment processing by wordlpay.com and 2co! Last round, incorporate a Cyprus company.. thanks for all the help by this forum.. great guys.

Update!!! I got approved by wordlpay with my dominican company today... yes yes yes!

That's some geat suggestions, thanks will have a look at the two banks seems not too many have dealed with them before as I can only find 2 topics about them. I have opened an account with Hellenic Bank Cyprus last week! went through without problems & internet banking is good too.

thanks was exact what I thought :)