Are there any differences, Cyprus Bank Account for individuals and Corporates?

[greenline100]

I think Opening a Cyprus Bank account online is easy. But I have some doubts about the services being offered to individuals and corporate houses. Are there any differences between Cyprus Bank Account for individuals and Corporates?

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[richardm1964]

I think corporate houses in Cyprus enjoy greater freedom of operation and some special privileges. Some of these includes more tax benefits, transferring foreign currencies to any overseas locations from Cyprus etc. They are also exempted from capital gain tax and some imported goods are also exempted from VAT.

Last edited by a moderator: Dec 15, 2009

 

[JohnLocke]

There is not such a big difference, it is sometimes easier for people to open a personal bank account rather than a corporate account, the requirements to open a Cyprus Bank Account are tightend by the banks, this has coursed some corporations to struggle in fullfilming to submit the required documents.


However in regards to privacy, I would not recommend to open a personal bank account in Cyprus if you do this for privacu reasons!

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[mneilson]

Privacy is very important in banking transactions. As the site Admin has advised that from Privacy point of view , he is not recommending any Cyprus personal Bank account.

 

[Rahul shetty]

I think the main difference between the individual and company website is that you have to pay more fees if you are having a corporate account if you are having an individual account the fees is very less

 

[Aliza beth]

I think opening a bank account in Cyprus is very difficult task. who told you that it is an easy thing?