Cyprus is an island in the eastern Mediterranean see located between Greece and Turkey. The main activity of the island is tourism but Cyprus is also offering a huge range of benefits for people willing to open an offshore bank account or to incorporate an offshore company. Unfortunately, the country has been affected by a major banking crisis in 2012/2013 and has seen its reputation declined. But be aware that Cypriot banks have not all been affected by this crisis and our local banking partner is one of those actors who did anticipate and avoid the pitfalls related to this financial crisis.
At FCBA Offshore Ltd, we do recommend first to all owners of a Cypriot bank account having suffered from the impact of the financial crisis to contact us. We will advise you to open a new offshore bank account either with our local partner or with any other banking partners from another jurisdiction. Also, people wishing to incorporate an offshore company or to open an offshore bank account should ensure that their financial partner is highly reliable.
Finally, be aware that the initial deposit of your offshore bank account required by banks is low and will therefore by no means be a drag for you to open your offshore bank account.