Company in cyprus, bank in cyprus and paypal.

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trisstann

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Oct 21, 2012
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Hi everyone! i m new to this forum and i have to say that i got great information and i thank you all for that.


I was ready to make a company in Seychelles and bank account in Cyprus, till i read here that i couldn't open a paypal account this way.


So - since paypal is important for my site - i want to ask:


If i make a company in Cyprus and open a bank account in Cyprus can i open a paypal business account using VPN (cyprus IP). Does anyone make it so far?


And if i pay for a virtual office can i send a computer to be in that office (the pc must be open 24/7 and in network so i can connect with).


Thanks everyone for your answers!!
 
Welcome aboard trisstan, with a Virtual office you won't get the important utility bill! You will need to appoint a nominee director to get the utility bill and passport copy of the same in order to supply it to paypal.

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You can withdraw back to a Cypriot card, but not a Cypriot bank account.


A VPN is not necessarily required. PayPal aren't idiots. They know people run non-resident companies. Try reaching out to them, explain your business idea, and company structure. If you're not doing anything particularly shady and/or live in a high-risk territory, they may approve of it.
 
sorry for the question (i m quite new in offshore industry 🙂 )


what is the utility bill?? is an electricity or any other bill that will prove that i m cyprus resident?


Thanks!
 
what is the utility bill?? is an electricity or any other bill that will prove that i m cyprus resident?
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Correct, it can be a electricity bill, water supply or similar.

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Admin said:
Admin said:
Correct, it can be a electricity bill, water supply or similar.
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does cclogic provide this option if i choose to make a company in cyprus?


Thanks
 
Yes we can help providing these for the nominee director.

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You can contact our sales team here Select a department - Offshore Company Formation - - I'm only the Admin and webmaster of this forum.

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hi again? did anyone knows if the invoice of a cyprus company are relevant with the price of company per year? thanks
 
Hi Everyone,


I am also quite new to this forum but it is quite useful i can say.


I may also have a project of a Cyprus company getting its income via PayPal. As far as i know the money cannot be then transferred to a Cyprus bank account, but a card (or a USA bank account, but that wont be happening in this case). Does anyone have any experience on this? I mean how smoothly it works, is there a specific kind of card (VISA, debit, etc) required or any card will do connected to a simple current account?


Also i would be interested in the withdrawal limits? Does it depend on PayPal or on my bank?


Would appreciate any information or help.


Thank you
 
Withdrawing to card from PayPal is a smooth process. I would recommend using a debit card for this, since the money then ends up in a bank account instead of merely becoming available credit on a credit card.


Most Visa cards that you can use online can be used for withdrawal from PayPal. The exception would be non-reloadable prepaid cards.


For limits, check with PayPal. They impose different limits depending on account type among other things. I have never heard of cards having a limit on incoming funds, except for prepaid cards.
 
Thank you

Zqq said:
Zqq said:
Withdrawing to card from PayPal is a smooth process. I would recommend using a debit card for this, since the money then ends up in a bank account instead of merely becoming available credit on a credit card.
Most Visa cards that you can use online can be used for withdrawal from PayPal. The exception would be non-reloadable prepaid cards.


For limits, check with PayPal. They impose different limits depending on account type among other things. I have never heard of cards having a limit on incoming funds, except for prepaid cards.
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dear Zqq,


Thank you very much for your reply.


i have also checked with PayPal the limits.


just one last question: do you have any other soltuion maybe to extract the money from the bank card or only with cash it is possible?


Thank you again


regards
 
You may use a service like payoneer, they have been discussed here on the forum a few times, you may use the search function of this forum to find all of them.

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trisstann said:
trisstann said:
hi again? did anyone knows if the invoice of a cyprus company are relevant with the price of company per year? thanks
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Please elaborate, I'm not sure about what you are asking for.

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If you withdraw to a debit card the money goes to your bank account, since debit cards are tied directly to a bank account.
 
Admin said:
Admin said:
Please elaborate, I'm not sure about what you are asking for.
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lets say that i open a company in Cyprus. I guess that the price to open the company also cover the accountant yearly payment. So if i have 10 invoices, 100 or 1000 (per month) will change the price per year for the company?


And also i want to ask, cyprus has VAT, in my site should add vat to the customer invoices?


Thanks
 
Admin said:
Admin said:
Welcome aboard trisstan, with a Virtual office you won't get the important utility bill! You will need to appoint a nominee director to get the utility bill and passport copy of the same in order to supply it to paypal.
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I see problem here debit card and bank statement will be on his name not nominee right??? Then there will be problems...
 
i guess that bank account and debit card will be in company name, so the nominee would get the utility bill for company...
 
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