This payment service provider in Cyprus is an Electronic Money Institution that is authorized by the Central Bank of Cyprus which has a specific preference toward new corporate clients. Their vision is a world without financial borders and to operate as a truly global eCommerce acquiring service.
Through this payment service provider, businesses get to access to a powerful set of tools which allow you to manage every area of your global business. It is super easy to manage your day to fay cashflow and perfect for new and already established businesses alike, on and offline.
Who can benefit from Corporate Account opening with this PSP?
This provider offers the service is only to corporate clients from the following areas and business background:
- IT and Internet (software development, mobile apps, online marketing, online game development, that development/design, etc.)
- E-Commerce (companies whose services are paid by customers with payment cars on their websites)
- Technological Innovations (Life science and Healthcare technologies)
- Forex – only licensed (Gambling, Crypto, Dating are also welcome to apply for account opening, but other conditions will apply, as well as fees. There is a requirement of a minimum of about 100,000 turnover per month. All business activities mentioned need to be licensed in the EU
How can you apply?
The application form is online and completely remote, which means that you do not have to visit the office at all. Your account will be opened within 5-10 business days upon application. Standard set of documents are required, without Apostille for EU Companies. A Skype call should be arranged with the bank manager within the first 5 months upon the account opening.
What does this payment service provider offer an what are the features?
- IBAN multi-currency accounts
- SWIFT, SEPA and TARGET2 wire transfers
- Corporate Cards
- Currency Exchange Services
- Offshore companies are not accepted, such as LLP, LP etc.
- Accounts will most likely be opened without any hustle for companies from EU (LP, LLP companies will most likely not be accepted), Hong Kong, Singapore and countries OECD
- Corporate accounts will have a direct IBAN
- For high risk clients (forex, gambling, etc.) payments will only be in SEPA, while SWIFT is available for others
- MasterCard in EUR is coming soon
- Incoming payments in EUR are free of charge
- Same-day wire transfers
- Cross-Border transfers in a wide range of currencies
- A dedicated Account Manager to help your business
- One account, multiple currencies (EUR, USD, GBP, CZK, HUF, RUB, PLN, JPY, CNY)
- Dedicated payment card
- Professional support 24/7 such us personal manager and technical support
- Minimum balance and deposit are not required
Banking fees are very low when comparing to other providers and a few competitors.
The Account opening fee is charged by the payment service provider with the amount of 350 EUR and the monthly maintenance for your account would be 58 EUR.
- Corporate pre-paid card
- Card issue 50EUR
- Urgent card issue 100EUR
- Commission for a purchase free of charge
- Cash withdrawal at ATM (ATM operator charges may also apply) 2% plus 5EUR
- Cash withdrawal at banks, cashiers and merchants 2% plus 5EUR
- Maximum allowable one-time balance of card account 50 000 EUR
- Daily loading limit 10 000EUR
- Daily limit of cash withdrawals 2000EUR
- Corporate MasterCard business debit card
- Card issuing 50EUR
- Card maintenance, per month Free of charge
Card transaction fees
- Card payments Free of charge
- Cash withdrawal in Card currency 2% plus 5EUR
- Cash withdrawal in currency other than Card currency (3)(4) 2% plus 5EUR
- Cash withdrawal limit, per day 2000EUR
Offshore Pro Group has been in the financial consultancy business for years and we will gladly help you find the best financial solutions if you decide to seek our advice. Please write to us to firstname.lastname@example.org or use WhatsApp or our live chat to get in touch with us. Whatever communication means you choose, we will be able to suggest the solution that will fit your personal outlooks and your individual investment preferences best!