CCLOGIC Agent Response:
Thank you ofr your e-mail, I will go through your questions as per the following:
1.1 May I include wife, son and three daughter as directors, with full authority to operate the company and bank account individually or either any two jointly ? .
Yes you can include them all and we can appoint them as you want.
1.2 Will the company be able to purchase property in Cyprus as an investment without paying taxes ?
Yes. There are, however, some limitations on the purchase of property by non EU residents or companies that are owned by non EU residents. This is applicable to Republic of Cyprus, which is South Cyprus. It does not apply to property situated in North Cyprus.
1.3 Do I have a choice in the company name ?
Yes sure, if you look at the proposal I send you there you have to put in 3 company names that we will send for approval by the authorities.
2.1 Is Piraeus bank branch located in Northern Cyprus ? . If not, then how will I handle personal banking transactions ?.
The bank is situated in the Republic of Cyprus, which is the South part of Cyprus. The account will be operated through internet banking
2.2 Noted from their website that the head office is in Greece, which as we know is going through a financial turmoil . Hence how will that affect my banking arrangements.
Piraeus Bank Cyprus is a subsidiary of Greek Piraeus Bank, registered in Cyprus, regulated by Central Bank of Cyprus and is not affected by the Greek bank crisis. The Bank does not have any exposure in Greece.
We can go with Hellenic Bank if you better like that, they are as stable as the rest of the banks in Cyprus.
2.3 I frequently travel to London, Cairo and Dubai . Can I access my accounts through their branches in the said cities ?
Yes sure you can, no problem at all.
2.4 Will the bank issue debit cards to all my family members or there is a limit ?
Yes, no problem, they will be all registered by the bank as account holder.
2.5 Assume that I can pay any amount in my bank and easily pay out as well, which please confirm
I don't understand this question, sorry.
Your passport from Sudan is OK no problem with the banks as long as you are not investigated by any government i.e. Interpol or something.
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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.
