Cyprus Company Formation for clients worldwide

To register a Cyprus Company is a very simple and straight forward process. Profel  specialises in the Cyprus Company formation and the opening of Cyprus Bank Accounts for businesses and individuals worldwide.  There is no need to visit Cyprus.

Internet Banking in Cyprus

Internet banking in Cyprus is possible since most of the banks there allow transactions to be carried out though the internet. This makes it possible for people with offshore businesses to take care of their finances wherever they are. Some of the internet banking services provided by Cyprus banks includes checking account balances, transferring money, paying of bills and accessing your bank statements.

The full payroll of your company may be paid through the internet. Internet banking in Cyprus saves a lot of time for the investors who are in and out of the country checking on other businesses.  Internet banking in Cyprus is very secure and effective as banks have put in place measures to protect their services such as encryption, the use of personal security codes, upper transfer limits, controlled access, etc.  

To benefit from internet banking, you must open a Cyprus bank account in one or more of the banks in Cyprus. Banks in Cyprus do not require you to be there in person when applying for a bank account and you can do this online. Profel can undertake all steps required, you only need to provide some of your personal details or corporate information if the account is to be opened for your company. For corporate entities, the registered address of the company and certificates which include a copy of the certificate of incorporation and a copy of the Memorandum and Articles of Association will be required. The bank will also need the authorized signatories for the business.

Advantages of Offshore Bank Accounts

Basically, an offshore bank account is an account in a bank that is located outside the country or residence of the depositor. Mostly people opt for offshore bank accounts that are typically located in low tax jurisdiction that provides financial as well as legal advantages.

Offshore bank accounts have been in demand world over from 1960’s because of the incredible expansion of international trade. These accounts offer a complete variety of services relating to financial dealings e.g. transfer of money, interest earning deposits,  providing for international exchange, handling of financial trade, as well as ensuring cleaner and safer credit facilities.

Professional firms specialising in the provision of services in the area of asset protection, and tax planning provide bank account opening services to their clients.  Profel (www.PROFELltd.com) is such a firm with an excellent track record of in the area of bank account opening and management as well as advice on international tax planning.

The use an Offshore Bank Account is basically very simple. Predominantly all offshore banking systems make use of two methodologies to get access to information and funds regarding the account. The first one is online (internet) banking which allows you to get account information via a secure internet connection. The second is through associated credit or a secured debit card. This is fairly a traditional way of getting secured access to the account information. In most instances, the account is presented to the client with pass keys, (Digipass devices) and ‘test keys’ among other secure forms that will only allow signatories to get access of the account information.

 

Another feature found in some banks providing offshore account services is the so called ‘Anonymous debit cards’.  Such cards are used via the ATM by their holders.  The cards themselves do not have any personal information of the card owners and this provided confidentiality and security in case the card is lost or stolen.  Profel can assist clients in this and other bank related requirements.

Offshore/International Bank Accounts: Basic Information

Offshore Bank Accounts also referred to as Overseas or International Bank Accounts, can help you achieve all your desired financial objectives. The account when intertwined with internet banking will aid you to benefit from offshore asset protection, branch out on your corporate or personal banking, protect your funds, give an international face to your business and open the global market to you with goods unavailable in your local market. Cyprus offers such a banking system.  Though it is a small island, its financial competence and aptitude precedes it.  Cyprus is a full member of the European Union (EU) and the Euro zone. It has the lowest tax regime in the EU and is a prestigious international financial centre, having an excellent legal system, a stable banking system, and one of the most extensive Double Tax Treaty networks available.

An Offshore Bank Account can be said to be a tax favourable account given the jurisdiction in which it is located.  The reasons for opening the accounts can be many. But somehow they all essentially relate to asset protection, e-commerce banking, private banking and investments, and foreign currency.  Getting the account without much hustle and high rates is to most the only way they can engage in this lucrative investment opportunity.