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Any recommendation for service that will open Cyprus company and Bank account?

Discussion in 'Business & Tax Advice' started by deki33, Apr 26, 2016.

  1. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Any recommendation for service that will open Cyprus company and Bank account?
     
  2. punkstar69

    punkstar69 Junior Member

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    Im also about to incorporate such a business type. Please advise guys. I was wondering if you have tried any provider that accomplished to provide a VAT number and a business bank account with online banking and card products.
     
  3. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Just be careful, there are many scams around. I would like to hear some recommendation from trusted members here.
     
  4. punkstar69

    punkstar69 Junior Member

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    Thats true. I've already saw your other thread regarding us incorporation with bank account. Everyone is claiming that this is possible, but yes, its not possible. I've been searching a lot and also many companies tried to scam me regarding this, but this is impossible.

    I guess that our reason is the same, we both looking for tax saving solutions, so the next move is Cyprus.
    Im in the EU and able to travel there too in order to incorporate my company there, but no information regarding this is available too..

    So, if someone from you guys has already done it, please reply.
    During the latest years, i've seen many companies that sell services through web, moved to Cyprus (i.e Fiverr).
     
  5. punkstar69

    punkstar69 Junior Member

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    get out, idiot spinner.
     
  6. abhi007

    abhi007 Jr. VIP Jr. VIP

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    lmao dude he is literally copy pasting on the same thread.
     
  7. The SEO

    The SEO Jr. VIP Jr. VIP

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    Actually its a Wordai Turing plan, readable and a bit unique.
     
  8. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

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    Cyprus companies cost a lot to maintain, about 10k a year, if you are in for that budget I have a trusted accountant who has helped setup companies in cyprus for so many of my friends and clients. He will be your nominee director, and will even hold the account for you for a fee if you need, based on strong agreements of course. Misappropriation of funds in your account is nearly impossible or so I am told.
     
  9. punkstar69

    punkstar69 Junior Member

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    Sorry to say so, but my aunt used to live and work there. This is not accurate.
     
  10. Paranoid Android

    Paranoid Android Jr. VIP Jr. VIP

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    yeah i was doubtful about having someone else hold the account for you, if that is what you say isn't accurate.
     
  11. punkstar69

    punkstar69 Junior Member

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    Im talking about expensive fees. They are not really expensive. They are affordable. But anyway, CY got the smallest tax in EU. This is all about running a profitable business that if you run it everywhere else in the EU, tax will be at least 21%
     
  12. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Fees for CY should be around 5k EUR / Year . Not more.
     
  13. punkstar69

    punkstar69 Junior Member

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    They are much less..
     
  14. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Can you recommend company that can do it ??
     
  15. kekmaw

    kekmaw Junior Member

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    I'm also looking for a reliable company to help me set up my company with a nominee in Cyprus (and holding company in Belize). This setup, from the companies I've talked with all say that it would cost me about $6600. But I got a little scared now when Paranoid said it could cost $10k to maintain... if you don't mind me ask, is that the accounting fees? Because that depends a lot depending on how many transactions you make etc. Either way, Cyprus is a great choice if you make money from IP like me, it's just 2.5% in effective tax. Not bad since Cyprus got tax treaties with the biggest countries which was the reason I'm going with Cyprus.
     
  16. punkstar69

    punkstar69 Junior Member

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    I cannot recommend one since I havent tried it. But these guys http://www.fbscyprus.com/ seem to do it with 350€ + national expenses, which means a total of ~1000€, these claim to deliver a cyprus formed company with a business bank account, a VAT number and a stamp at 1640€ https://www.callamus.com/el/company-formations/eu/incorporate-in-cyprus-eu, etc..

    Yearly maintenance costs, with a registered office, mail forwarding service and national payments for holding a company at Cyprus is claimed to be around 1000€. The amount paid to the accountant is something that is based ony our trading amount and you will negotiate this by yourself.
     
  17. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    If you just found them online and didn't get direct contact from someone who you trust, then it is better to ignore it.
    In that "niche" (opening remote companies) are so so so many scams... They just take your money using 3rd part payment processors and there is not chance to get them back.
     
  18. TheMossad

    TheMossad Registered Member

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    OP, did you check out one of our members sig? The member username is ruthsam
     
  19. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    He is selling signature space - so any scammer can pay to get link in signature.
     
  20. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    Bulgaria(10%) has a lower tax than Cyprus(12.5 %) does.