All Corporations must be through a local, i.e. Crypriot lawyer. Our introduction fee for a Cyprus Corporation and bank account is just Eur500. Our local attorney will verify your person and will require a notarized passport copy as well as a banking reference. Their fees run approximately Eur 500 for everything. In addition an accounts must be files each year for Cyprus companies.
The Cyprus Company offers great leverage in the world today as all offshore income is tax free at base. Only a small annual fee is required in addition to the annual filings, which can be done by your lawyer.
BANKING IN CYPRUS
Your bank will be the Oldest and largest financial institution. · Founded in 1899. · Total assets over CYP 3120 m. · Over 210 branches. · Over 3000 employees. ·
An international bank with 13 branches in Greece, 6 in UK, in Channel Islands, representative offices to Australia, New York, South Africa, Canada, Moscow and Belgrade. This Bank has a very strong correspondent network, (over 2000 correspondents abroad), thus saving delays and costs on money transfers.
Cyprus is considered a tax incentive country whilst at the same time offers important international tax planning opportunities through its wide double tax treaty network with 27 countries.
SERVICES OFFERED TO NON - RESIDENTS ACCOUNTS
External accounts held in Cyprus pounds (CYP), in the form of current, notice or savings account. Interest rate up to 6.50% p.a. · Foreign currency accounts held in any freely convertible currency, as current, notice, fixed or multi-currency account. Competitive interest rates, comparable to those offered in international money markets.
For information purposes only rates for the major currencies are indicated below (date 26-02-99): % % % 1 month 6 months 12 months DEM 2.0 - 2.9 2.0 - 2,8 2.0 - 2.8 STG 4.5 - 5.3 4.2 - 5.06 4.2 - 5.0 USD 3.8 - 4.7 3.8 - 4.78 4.0 - 4.9 ·
Multi-currency cheque accounts in the following currencies: GBP, USD, DEM, NLG, AUD, FRF.
Customers may issue cheques , deposit or withdraw any amount of the above listed currencies or issue cheques and withdraw Cyprus pounds. ·
Local Disbursement Account (LDC) in Cyprus pounds with cheque book and VISA card facility, offering immediate access to funds enabling customers to effect payments in local currency and to assist the account holders in meeting their reporting requirements to the Central Bank.
HOUSING LOANS
Purpose:
To buy a house apartment or office space in Cyprus ·
Beneficiaries:
Foreign nationals whether living in Cyprus or not, Offshore companies and personnel ·
Characteristics:
Available in any major currency There is no maximum loan amount. It can amount up to 80% of the property value The interest rate will be LIBOR plus a spread of 2.5% ·
Repayment:
Maximum repayment period 10 years Monthly installments
BANK CARDS
Direct Visa Gold Direct Visa Classic Direct Eurocard / Mastercard Gold Direct Eurocard / Mastercard Classic AND Diners Club
International Visa electron for easy access to the biggest ATM network on the island on a 24 hour basis OTHER SERVICES
- Issue and purchase of traveller cheques in major currencies
- International money transfers and issue of bankers drafts
- Direct debits for electricity, telephone, water board at no extra charge
- Standing orders
- Electronic banking - Superbank: On - line (via Internet or direct) connection with Bank's computer system at no extra charge
- Spot and forward deals, between all major currencies, at a very low cost
- Issuing all types of Letters of Guarantee, and opening Letters of Credit
- Granting credit facilities against Bankers Guarantees
PRIVATE BANKING
The Bank in Cyprus is in cooperation with UBS, one of the world's leading financial institutions, provides the ability to invest to international mutual funds (unit trusts). This way, clients have the possibility to achieve much higher returns than a bank deposit. More than 250 different mutual funds exist, to suit the needs of every customer. Boc/ibu/services offered.
Please use "CyprusCorp400" as your product code on the order form. |
