During the many years(more than 9 years) in this business of offshore company formation and offshore banking and in the providing of merchant accounts for credit card processing, we have seen a lot of corporate documents provided by different clients from all part of the world, most often the major offshore jurisdictions like Cyprus, Bahamas, Seychelles, Belize and BVI, (more…)
No CommentsWhen deciding to set up business operations, it can be extremely hard to find the right information which will allow a business to register an offshore company. Of course, all the advantages of setting up a company in another company are generally easy to come across, but try and find the rules and regulations and that is another story! What most people don’t realize is that most countries have hidden laws and restrictions, which can restrict companies trading operations. Like any process there will be plenty people offering it as a service. Companies specializing in forming companies overseas will make the whole process not only quicker, but a lot less stressful.
Forming a company can be an extremely hassle free and inexpensive process. In fact, many companies will be able to provide the service from as little has 1,300 Euros, and in some cases even cheaper. This means that while over the last few years it has been extremely hard to register an offshore company, it’s now an extremely simple process. It is a simple case of speaking to a service provider, waiting for documents to be sent via Fedex and sitting back, waiting for the company to be formed.
Of course, there are various other things that are attached to registering an offshore company. Each company will most likely need a bank account, which does bring a few complications along with it. The service provider who is helping set up the company will need a copy of the proposers passport, utility bills (English and no older than 3 months). Along side this, most service providers will ask that the proposer provides a reference letter from somewhere like their current banking facility, a Lawyer or other professional.
There are a range of benefits that will come from making the decision to register a offshore company. Some may feel less pressured due to trading privately, as there business operations are frowned on in some companies. Some may feel huge amounts of financial pressure relieved as the tax laws in the offshore company they have set up in are extremely low. What ever the reason for an individual setting up a company in an offshore location, it is always advisable to seek expert advice before hand, to ensure the process goes through smoothly.
A Cyprus Company Formation isn’t any difficult and the most questions we get asked daily by new clients are what a Ready-Made Company is? Also when I try to register the Cyprus Company online, I need to fill a lot of fields which I’m not aw
are of what are about.
First, what is a Cyprus Company Formation?
When you decide to register a company in Cyprus it is a Cyprus company formation, and, can be done in 3 different ways.
When you register your Cyprus Company Online, you will be asked some questions on our Online application, which sometimes can be difficult to answer, however, we suggest you to complete the application best possible and at least with your contact details, once we receive your application we will get in touch with you by e-mail or phone or even by some messenger service if available.
CCLOGIC.COM has specialized in different Offshore Services which covering Cyprus Company Formation, opening of Cyprus Bank Accounts and to apply for an Offshore Merchant Account with one of our partnered Acquiring Banks and Payment Processing partners. Furthermore CCLOGIC is an authorized introducer for several of the major Banks in Cyprus.
Read also our latest press releases : Cyprus company | Shelf Company in Cyprus
No CommentsThe financial marked has changed and you need to consider to increase your profit of your online sales for two reason, first due to the competition while more and more Online Shops and businesses will go and reduce their price structure you need to have competitive prices on your products and services too, secondly while many see a decrease of the products services sold you need to earn more on each item as before to survive.
By just lowering your prices you would in many cases easily drive more sales into your pocket but you will soon face that this also means you need to sell more to get the same out of it.
A simple calculation which we did for a new client was to consider to take the entire business Offshore for Instant in Cyprus, the payable TAX for international business companies is 0% TAX which means if you lower your pricing per item with let’s say 15% (which would be the TAX you had to pay if you continue as you do now) than you won’t lose any money by reducing the price on your products or services but will at the same time get very competitive towards the competition.
It is important to consider any possible aspect to increase the costs doing business and at the same time be able to reduce the price to serve the consumers which at the moment (due to the financial crisis) only hardly want to spend any money.
A marked survey which has been made in Europe show that we are all more willing to spend money even in this financial crisis, if we can get the product or services we need to a reduced price.
How can I register a Cyprus Company, should be the question you ask yourself now.
CCLOGIC LLC has been in the Offshore Company Formation for years now and been of great help for many of our clients worldwide, many fail on finding the right Agent which can help with this service and get the job done fast and secure, we register a Cyprus Company and can open a Cyprus Bank Account within 7 – 14 days and ensure that everything is incorporated properly with Apostille of Documents and Company Certificates.
The Cyprus Bank Account comes with an Advanced Internet Banking (e-Banking) and as multi currency account (USD, EUR, GBP) – Your Cyprus Company can be registered as anonymous company with nominee shareholders and directors or with yourself or your holding company as director. You have to pay a 0% TAX rate to the TAX Authorities in Cyprus and conduct business worldwide with your Cyprus Offshore Company setup. You have a 100% assets protection and no limitation at all; any business can incorporate in Cyprus.
CCLOGIG LLC is a official Introducer for the major Cyprus Banks and has been serving several hundred clients with the Cyprus Company Formation and opening of Bank Accounts but we can more, we have a bride knowledge about the hassle to accept credit card payments Online, we have partnered with several Acquiring Banks around the world to open Offshore Merchant Accounts and to provide secure and reliable credit card processing for your website.
CCLOGIC LLC is a All in One Financial Service Agent which goal is 100% satisfaction for our clients, contact us today and let us help you to be a successful business which is in front of the competition.
Once you decided to incorporate your company in Cyprus it is very easy to transform this plan into reality, you can just start to fill our Online application for Cyprus Company Formation and hit the submit button.
Once we receive your application a sales representative will get in touch with you by e-mail or phone to clarify how your company structure should be and most important what your goals are in regards to go offshore with your company.
A simple application is then send to you as a PDF file which needs to be read and signed to start the registration of your company. Once this is received by our staff we will get it through to the Cypriot authorities and after approximately 7 days your company is registered.
Once the Company is official register in Cyprus we will send all the Apostil documents, company certificate and other useful information to you by courier or postal mail to an address of your choice.
Important to consider is if your Cyprus Offshore Company need to have a bank account, this can also be opened for the Cyprus Company easily, just let us know and we will send a Cyprus Bank Account application form to you as a PDF file, once this is filled, signed and returned to us we will go to the bank and get the account opened. Everything done Online and visit you to have to visit Cyprus.
Once you have both the Cyprus Company and the Cyprus Bank Account in place, you will be ready to start trading and conducting business through your real Cyprus entity. Your customers will be able to pay your Invoices to your Cyprus Bank Account just by using your Bank Account number or the IBAN number and a SWIFT code.
Through the advanced e-Banking (Internet Banking) system you will be able to monitor once the money enters into your account, from there you can transfer the money to your own local bank account or just have the money stay on your balance.
When would it be useful to have a Cyprus Company?
The possibilities are many, and often incorporation in Cyprus is used for the purpose of International Business Company (IBC Company)to conduct business Online, others register a Cyprus Company for the purpose to act as an Holding Company for a local company outside of Cyprus, this can be of a major benefit for your TAX planning and Assets Protection purpose.
Cyprus is a member of EU (European Union) which makes your Cyprus Company conducting business as an EU member company, that’s again offers you trust worthiness and a lot of possibilities in opening for instant a Merchant Account with a European Bank to accept credit card payments if you have a website.
For more information about how to open a Merchant Account to accept credit card payments on your website and to have your Cyprus Company to apply for the account please read our next publication on this blog or simply get in touch with one of our experience staff in this field at CCLOGIC LLC.
No CommentsIt can be very overwhelming to get a picture of the TAX and Legal issues there might be when you register a Cyprus Company.
Some of the questions we often receive from clients interested in registering a Cyprus Company with us are the following:
Do my Cypriot Company has to pay TAX ?
Will the beneficial owners be subject to Double Tax treaties?
Which country will the dispute resolution are handled?
A few good questions which we will try to outline here and which we think is of high interest for many that consider to register a company in Cyprus and in any other offshore jurisdiction.
To the first question, then it is depending very much on how you go and register your Cyprus company, will you be using nominee shareholders and directors or will you use foreigners, or is it the beneficial owner which often is a foreigner that is going to be both the shareholder and director in this company.
By using local nominee shareholders and directors you Cyprus Company will be subject to 10% TAX of net profits! This can be of benefit if you are going and do local business for instant in Cyprus where you need the director of your company to be able to make business decisions on your behalf.
If you make use of foreign nominee shareholders and directors the Cyprus Company will not be subject to any TAX ( 0% TAX) this requires of course that all income of the Cyprus Company is coming from outside of Cyprus. This also applies if you as the beneficial owner and as foreigner is chosen as shareholder and director. The benefit of becoming a foreign nominee shareholder and director is that you can register the company anonymously and your name will not appear in the Cyprus public register of companies.
To the second question, it depends on if you country has a double taxation agreement with Cyprus, if so the beneficial owner is subject of tax in your home country. This is one of the reasons why many people choice to become the company anonymously.
The third question, this depends only on your company’s policy and which country you set forth to handle disputes in your legal documents and has nothing to do with the type of company you are going to register or which country it is. For instant even when your Company is registered in Cyprus you can choice to incorporate a term in your Terms and Conditions or business policies that a dispute is handle by the courts of the UK or US and that’s what apply then.
We advice all our clients to get in touch with their Lawyers/attorney and Advisors for an in depth explanation of above since this is the right place to ask such questions; it might be that other regulations applies which could benefit you.
If you are considering to take your company offshore we will be more than happy to help you, please contact CCLOGIC LLC today and let’s get things started.
If you decide to take your business offshore for instant in Cyprus it is highly recommended to make a good planning for what you need, how you want to set everything up and what the outcome should be.
The best you can do is to write everything down, make a brief description of what it is you want it to be and what you expect once everything is done.
We have such many new client requests which just asking us to open a Cyprus Offshore Company and a bank account, some have not considered what it is they are going to use it for, they open the company (which is pretty easy) and then want a Cyprus bank account for this company but fail to deliver the few required documents we ask for or they become everything ready but don’t use it in fullest.
We think it is time to explain a few general and basic about how to make the prober Offshore Setup to conduct business for instant Online.
Do I need a nominee shareholder and if so should it be a local or foreigner?
First off, you only need a nominee shareholder if you want the company to be anonymously or if you want to avoid paying any TAX on net income.
If you reason to choice a nominee shareholder is to avoid TAX you will need to choice a foreigner, which we also provide. If you want to use a nominee shareholder because you don’t want to be listed in the public register of Cyprus ( become a anonymous company) you can choice a local shareholder, in anyway you only need one.
Do I need a nominee director (local direct) and if so should he be a foreigner?
As explained above in the chapter about nominee shareholder then almost the same apply for a nominee director, it depends very much on what it is you want, is the reason to avoid paying TAX or is it to become an anonymous company! If it is the first you need a foreigner if it is the second one, you can use a local director.
Do I need to have a nominee shareholder or director?
No not at all, you can just incorporate your Cyprus Company in your name or your local company’s name, you just need to bearer in mind that you will be listed at the public register in Cyprus, but you won’t have to pay TAX at all for this Cypriot company.
Also you can open a bank account in Cyprus for your company which is what many clients do. Whether the account is kept anonymously or as a regular business bank account depends on how you made your Cyprus Company structure as described above.
With your Cyprus Bank Account you can send and receive International Wire Transfers, you will become a IBAN number for your account and e-banking (Internet Banking) from where you can manage your bank account 24/7/365. The Cyprus Bank Account can be opened as single currency account (with only one currency of your choice) or as multi currency bank account where you can choice from the currencies EURO, USD, CYP, GBP.
Typically it takes about 4 – 5 days after we received all your original documents for the opening of the bank account to have the account opened, additional 14 days for the codes to be generated and send to your address for the internet access (e-banking).
Another thing which we often get asked is if it is possible to become a merchant account to accept credit card payments for on a website with this company.
Well, yes it is, you can open a Merchant Account and you can use your Cyprus Company for the opening of that account as well as a regular bank account as explained above. However, we don’t work with any bank in Cyprus in regards for the Merchant Account opening, so we use some Banks in Europe which have specialized in this. The moneys can of course be transferred to your Cyprus Bank Account which is connected to your Company in Cyprus.
What are the steps to get started if I would like the full scale of your services?
This is also a question which we get asked often, and to clarify, then we always start with the company since we need this in place to be able to sign a bank account and/or a merchant account on behalf of the Cyprus Company.
Once the Cyprus Company is established (which in average takes 7 days) we go ahead and open the Bank Account with a Cyprus Bank and then we go and apply for the merchant account, since the Acquiring Banks which do the credit card processing will ask for the company details and the banking details before they open the Merchant account, therefore it is important to have the Cyrus Company and Cyprus Bank account in place first.