The bank/EMI is the one that needs to be Crypto friendly
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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams
Will Cyprus Incorporation Be Right for Your Needs?
- Thread starter JohnLocke
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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams
you banks are not cripto friendly or laws? rcb is very difficult bank , only 10 m above is easy deal with them
You will need an EMI inbetween before you transfer any money into a Cyprus company which is originated from Crypto. The banks in Cyprus simply don't accept Crypto as it is now.
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i am been tried 2 day ago open account in national bank of greece , i stayed there 3 hours was worst than police interrogation, any body knows easy bank going in south cyprus, to it looks like almost mission impossible open account , i n have new register cy comapny everthing in order super nice computer parts trading , all in the good place , but banks say i am in risk list of activity.
To me sound like we not want topen you account , any suggestion?
To me sound like we not want topen you account , any suggestion?
Why did you go with NBG? They are in the process of being sold to AstroBank (which was formed when Piraeus Cyprus bought USB).
Bank of Cyprus, Hellenic Bank, and Alpha Bank are usually the banks that onboard international companies.
But if your activities are high risk, probably no bank in Cyprus will take you without some serious convincing. Banking in Cyprus hasn't been easy-going for years now.
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This is the probably the answer to your question.
Bank of Cyprus, Hellenic Bank, and Alpha Bank are usually the banks that onboard international companies.
But if your activities are high risk, probably no bank in Cyprus will take you without some serious convincing. Banking in Cyprus hasn't been easy-going for years now.
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This is the probably the answer to your question.
I totally agree with @Sols if the banks in Cyprus refuse to open an account for you it's just to risky for them.
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i have personal accoout there 20 years seems to me the good choice , my business is no risky , i will go to the others banks next week wil se what is answer any sugeestion for any bank any branch where they are business mind?
You will most likely keep getting rejected if you don't go via an introducer. Introducers are licensed by CySEC and a list can be found here: Cyprus Securities and Exchange Commission | APPROVED ASP
I already mentioned Bank of Cyprus, Hellenic Bank, and Alpha Bank. The big branches in Limassol and Nicosia are usually the best equipped but without an introducer it's going to be hard to make them listen to you.
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This is the probably the answer to your question.
I already mentioned Bank of Cyprus, Hellenic Bank, and Alpha Bank. The big branches in Limassol and Nicosia are usually the best equipped but without an introducer it's going to be hard to make them listen to you.
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This is the probably the answer to your question.
it is a kind of mafia? i do not get why i need an introducer, listen they listen probably i miss something , i have no problem get an appointment anyway banks look to me pretty s deserted , hm not rally a good sign
i had an account in cyprus in fbe 11 years ago was not a big deal , but i guess times chages, 11 year ago seeems to me like 100 years ago now
i had an account in cyprus in fbe 11 years ago was not a big deal , but i guess times chages, 11 year ago seeems to me like 100 years ago now
The introducer has been mandatory for all the time I have known to this industry, at least 20 years by now. FBME was a crap bank, the only benefot was their total anonymous meistro card which was awesome. It was issued by their Branch in Tanzania. But as it become known the bank got trouble and the card vanished.
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i have been today in bank of cyprus Limassol (with introducer), the introducer can t help so much , he can fill up forms for me
you need
1 real office ( contract , and you need pay rent from the bank account
1 employeee ( with full social insurance paid )
this 2 things is mandatory from central bank or cyprus new law, so difficult to find way around
after this condition is ok , you can start do compliance proceedings
so you come up with 15000 euro cost a year plus accountacy cost tax etch
i think is a bit too much fro a cyprus company, only big business can afford this , if you turn over is more tahna 4 m euro make sense
I will try more banks tomorrow , with introducer
Have a nice day
you need
1 real office ( contract , and you need pay rent from the bank account
1 employeee ( with full social insurance paid )
this 2 things is mandatory from central bank or cyprus new law, so difficult to find way around
after this condition is ok , you can start do compliance proceedings
so you come up with 15000 euro cost a year plus accountacy cost tax etch
i think is a bit too much fro a cyprus company, only big business can afford this , if you turn over is more tahna 4 m euro make sense
I will try more banks tomorrow , with introducer
Have a nice day
What happens without nominee shareholders? Can anybody see you are the UBO of your company in some public registry?
yes information is public you need to pay small fee
in my opinion cyprus is too expensive and complicate to open bank account , but tax rate is low if you have real businesss can be ok , staff ids not so expesive and is educated
in my opinion cyprus is too expensive and complicate to open bank account , but tax rate is low if you have real businesss can be ok , staff ids not so expesive and is educated
If you don't appoint a nominee shareholder nor director your name will be visible on the public registry in Cyprus.
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It's also worth noting that, regardless of nominees, Cyprus is in the process of enacting a UBO registry. IIRC, data is to be collected by March 2020 and then the registry goes live 2021.
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This is the probably the answer to your question.
So this will make nominees effectively redundant to keep UBO name out of public records it seems?
I am thinking about getting rid of my corporate nominee trust, as it only seem to complicate getting bank accounts even more...
Not all nominees are created equal, but the vast majority of nominee structures are going to become ineffective.
You need to truly not be the UBO or at least fall outside of the scope of UBO definitions, which can be done in some cases with more exotic structures like trusts, foundations, and such.
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This is the probably the answer to your question.
Thank you for adding this information. I read about it already but didn't find a date for when this will be.
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