Company in cyprus, bank in cyprus and paypal.

[trisstann]

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!!

 

[JohnLocke]

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.

 

[Zqq]

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.

 

[trisstann]

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!

 

[JohnLocke]

Correct, it can be a electricity bill,‍ water supply or similar.

 

[trisstann]

does cclogic provide this option if i choose to make a company in cyprus?‍

Thanks

 

[JohnLocke]

Yes we can help providing these for the nominee director.

 

[trisstann]

i can't send you a pm. can you send me an email?

thanks

 

[JohnLocke]

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

 

[trisstann]

thanks!!!~!!!!

 

[trisstann]

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

 

[falena]

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 be︀ interested in the withdrawal limits? Does it depend on PayPal or on my bank?

Would appreciate any information or help.

Thank you

 

[Zqq]

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.

 

[falena]

Thank you

dear Zqq,

Thank you very much︀ 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 card︂ or only with cash it is possible?

Thank you again

regards

 

[JohnLocke]

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.

 

[JohnLocke]

Please elaborate, I'm‍ not sure about what you are asking for.

 

[Zqq]

If you withdraw to a debit card the money goes to your bank account, since‌ debit cards are tied directly to a bank account.

 

[trisstann]

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

 

[jaystefan]

I see problem here debit card and bank statement will be on his name not⁤ nominee right??? Then there will be problems...

 

[trisstann]

i guess that bank account and debit card will be in company name, so the‌ nominee would get the utility bill for company...