Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
The Republic of Cyprus has gained its popularity at the expense of low-tax opportunities for business on the island. However, the functioning of international companies in jurisdiction is impossible without an adaptive banking system.
The SGC rating of Cyprus reached the investment level in 2018, which indicates a confident and consistent improvement in the financial stability of the jurisdiction. By the way, by the middle of 2018 Cyprus also got into the top states of Europe in terms of the number of transactions produced by cards. All these signs are sure to say that the accounts in Cyprus is a necessary tool to manage the company activities and increase investment on the island and in the world.
Opening a bank account in Cyprus: advantages and distinctive characteristics of banking jurisdiction
- In the jurisdiction, it is possible to open personal and corporate accounts for local and international business as well as for private persons, including non-residents of the country.
- Registration of investment and accumulative accounts in the jurisdiction is available only on condition of opening of the current settlement account.
- Open multi-currency accounts, including in the national units of the CIS countries (ruble, for example).
- Corporate clients of Cypriot banks have the possibility of registration of chequebook.
- There are no requirements for permanent balance on the card in the banking institutions of Cyprus.
- Banks of Cyprus allow remote registration and management of the account, including corporate.
- Due to membership in the EEC, the Republic has regulations on the exchange of tax information with the EU states. Nevertheless, the rules of the tax directive do not apply to interest accrued on the accounts of international companies in the Republic of Cyprus.
Opening a bank account in Cyprus: basic regulations
- Documents proving the identity of the beneficiary and managing the corporate account (in the case of opening a banking company).
- For companies that use the services of nominal service, also requires an apostilled package of documents for shareholders, directors and secretary.
- For corporate account: originals and certified copies of corporate documents. For companies that are valid for more than 1 year, the Certificate of Good Standing and Certificate of Incumbency, as well as financial statements confirming the solvency of the legal entity, are required.
- Individuals are required to confirm the source of origin of income.
Company GBS Agency provides an opportunity to open settlement accounts in the following banks:
- HELLENIC BANK;
- BANK OF CYPRUS;
- PIRAEUS BANK;
- ALPHA BANK CYPRUS LTD;
- EUROBANK EFG CYPRUS.
Depending on whether the account will be opened on a natural or legal person, and what package of services the client chooses, the period of banking registration – from 2 to 4 weeks, the cost – $ 300-400.
Discover opportunities to work with partners anywhere in the world with GBS Agency financial experts. Free detailed consultation is available to you right now!