Company Formation Cyprus

[Goethe]

I'll be in Cyprus at Christmas. Looking at forming a company there for my various sites. Any recommendations/observations? Good idea/bad idea? I'll need a bank account and a nominee director.

[Harjo]

hey man, i think its a bad idea to setup offshore company / offshore banking in cyprus considering their recent bank account confiscation horror.

zerohedge.com/news/2014-07-10/new-laws-allow-government-seize-savings-deposits-during-crisis

(sorry cant post url now, im under 30 posts)

[Goethe]

Originally Posted by Harjo

hey man, i think its a bad idea to setup offshore company / offshore banking in cyprus considering their recent bank account confiscation horror.

zerohedge.com/news/2014-07-10/new-laws-allow-government-seize-savings-deposits-during-crisis

(sorry cant post url now, im under 30 posts)

Thanks for your reply. Yes, I was aware of that issue. Not sure if that affects deposits under 100,000 euro too much? Any opinions/info welcome

[Harjo]

seriously, with all due respect i think you will be better served by a lawyer. better spend $xxx then save $x,xxx later.
because everybody's circumstances is different and its impossible to give you your best answer without talking about your needs and capacities especially if you want your venture to be long term operation.

but if you are especially looking for a mediterranean based offshore company i think malta is a better bet. i just cant put anymore trust to a country that is capable of confiscating their bank account, i wonder what they will do next if another crisis hits.

good luck man

[NewNick]

Originally Posted by Harjo

seriously, with all due respect i think you will be better served by a lawyer. better spend $xxx then save $x,xxx later.
because everybody's circumstances is different and its impossible to give you your best answer without talking about your needs and capacities especially if you want your venture to be long term operation.

but if you are especially looking for a mediterranean based offshore company i think malta is a better bet. i just cant put anymore trust to a country that is capable of confiscating their bank account, i wonder what they will do next if another crisis hits.

good luck man

Cyprus is ok for the company formation - you just need to bank elsewhere.

You would struggle to find a Cypriot bank which accepts adult activities anyway.

I can recommend this agent to form the company

Register cyprus company - offshore company formation and incorporation - ready made companies

But the bank account is a different story.

[Goethe]

Originally Posted by Harjo

seriously, with all due respect i think you will be better served by a lawyer. better spend $xxx then save $x,xxx later.
because everybody's circumstances is different and its impossible to give you your best answer without talking about your needs and capacities especially if you want your venture to be long term operation.

but if you are especially looking for a mediterranean based offshore company i think malta is a better bet. i just cant put anymore trust to a country that is capable of confiscating their bank account, i wonder what they will do next if another crisis hits.

good luck man

Thanks for your input. I'm basically looking for a Euro country with offshore formation. My interest in Cyprus is based purely on the fact that I'll be there in person. I'll look into Malta too now that you mention it. In terms of needs, yes medium to long term. An indication of annual fees in places would help too. Re: lawyer, yes I'll do all of that when I'm there, just hoping to pick up some info before I get there in December

[Goethe]

Originally Posted by NewNick

Cyprus is ok for the company formation - you just need to bank elsewhere.

You would struggle to find a Cypriot bank which accepts adult activities anyway.

I can recommend this agent to form the company

Register cyprus company - offshore company formation and incorporation - ready made companies

But the bank account is a different story.

Useful info, thanks. I thought Cyprus was adult-friendly? In any case, my business structure is listed as "affiliate marketing" as opposed to adult