Compare Cyprus company with BVI company formation, what's best?

[buzzoffshore]

Comparing Cyprus company and BVI company, can you say what best benefits there are with one or the other please?

 

[clemens]

It depends very much on what it is you are looking for to achieve? Please elaborate on your business idea so we may help you.

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[JohnLocke]

I agree with Jpay, please elaborate on what business you are into.

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[buzzoffshore]

Online business selling iphone covers and such stuff.. no high risk business. 100% Internet based - BVI company may be sufficient I got informed??

 

[JohnLocke]

As mentioned in the other thread already, there are other objectives that may be investigated to get a clear answer. However, none of the clients that incorporated a Cyprus company regret to have done this, they benefit from the various benefits such an entity gives them.

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[buzzoffshore]

Thank you for your replies.. I got it..

 

[tonas]

Can we use a Cyprus company for Adult business?

 

[buzzoffshore]

I god informed that a Cyprus company or any other offshore company can be used for almost any business so Adult, however, the problem will be to get a bank account and merchant account for the company if the business isn't legit,

 

[JohnLocke]

There are no issues to get a company incorporated in Cyprus for Adult business. The problem can be to find a bank account for the company!

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[buzzoffshore]

Are there other business activities that will require a special license or something in order to register a company in Cyprus?

 

[JohnLocke]

Most financial service companies will need a license in order to operate in Cyprus.

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[pulledoffshore]

What requirements are there in Cyprus compared to BVI for obtaining a financial license? Cyprus it is CySec right?

 

[taruniis]

I god informed that a Cyprus company or any other offshore company can be used for almost any business so Adult' date=' however, the problem will be to get a bank account and merchant account for the company if the business isn't legit,[/quote']
As long as all the legal papers are settled, you will not have problems. You will have to register the businesses to make it to the offshore accounts. The government has a department that will take care of this. It will definitely be easier for you because it is private.
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[JohnLocke]

The problem is not the company formation for the business activity of Adult, but more, to find a bank who will accept that kind of business. Until last year there was only Laiki bank that accepted it in Cyprus, but now they are gone and there are no banks left.

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[buzzoffshore]

So what banking options are there for Adult business? I have only heard of banks in Latvia, but they should not be very reliable??

 

[plotoffshore]

Latvia I heard.. there is a big Adult forum gfy where you may find great help as well for adult business.

 

[JohnLocke]

Correct GFY is one of the major Adult boards around where you can find lots of information.

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[buzzoffshore]

After some time researching on offshore companies and offshore banking including merchant account for my Adult business I wound a working solution which I would like to share with you guys.


What I found out is that a BVI company (Cyprus would work as well, but BVI company is cheaper) can be registered pretty fast, banking can be anywhere in Europe, have accounts in Cyprus, Latvia, St. Vincent, Mauritius, Switzerland and Hong Kong. Additionally merchant account can be opened with CCBILL, Verotel, Epoch, WireCard, Charge2000 and many more. No problem at all.


The trick, you don't tell the day to day bank what business you are into! they never check this at all anyway.. otherwise you can put a e-wallet inbetween the payment processor and the bank and they wlll never find out. Means, you can ask the merchant account provider to pay to your PayPal, Skrill, RedPass or whatever e-wallet and then transfer the money from there to your bank account.


This has been working for us for a while, we are doing +200k USD per month.

 

[alain]

Comparing Cyprus company and BVI company' date=' can you say what best benefits there are with one or the other please?[/quote']
Cyprus good for real online / offline business and BVI for short time business mostly Internet business where merchant account is required.
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[buzzoffshore]

We got setup and doing fine with our business in Cyprus and BVI. Thaks to the owners of the forum for all help. Also the members here are very helpful.