Offshore business in Cyprus:

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.

The benefits to open an offshore bank account or to incorporate an offshore company in Cyprus are the followings:

• Discretion and banking secrecy towards all major states (but unfortunately no longer with European Union members)
• Possibility to have a European registration / VAT number (because Cyprus is part of EU)
• Official currency: Euro
• Law corporate profit tax rate of 12,5% for both residents and non residents

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.

To open an offshore bank account or to incorporate an offshore company in Cyprus is something easy for us and we could enjoy our network and partnerships with local banks to you.

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.

Please if you need any additional information feel free to contact FCBA Offshore Ltd team members.