US s Corp offshore euro bank account

[gurtel]

I have a US s Corp start up which has been doing exports of food and supplements for about 3 years now. My company doesn’t have a physical location. I need to have a Euro bank account somewhere outside America for my clients to wire the money to. Here are some factors I am considering:

- the account needs to be in my companies name I can provide all the relevant documents and a letter from my bank here in US
- not to get taxed in the country where the account is oppened as the amount received is not all profit it also include the cost of goods
- online banking so I can transfer the money to my US account
- low fees
- At this stage of my companies growth, the bank reporting to the US IRS is not a problem. Of course having tax benefits would be nice but I rather pay lower fees for now
- I prefer not to have to incorporate in that country specially if that would mean paying taxes in that country . Incorporating would be OK if the cost is minimal and there are no tax implications in that country

 

[JohnLocke]

You can open a simple Cyprus bank account remote, no need to visit Cyprus nor the bank!

That would be easy for you to do.

 

[gurtel]

You can open a simple Cyprus bank account remote, no need to visit Cyprus nor the bank!

That would be easy for you to do.

Thank for the information. That is very helpful. What are the usual estimated costs ? Does cypress require me registering my company in cypress ? If so what are the additional cost and reporting requirements? finally should I contact the bank in cypress directly or is it usually done through a third party? If a third party is needed who do you recommend? Also how long does the opening of my account take ?

 

[JohnLocke]

Does cypress require me registering my company in cypress ?

No, you can use almost any company and for sure your US.

You may easely find a agent that can help you (one is in my signature, our main sponsor) the time it takes to open the account varies a lot and depends on how cooperative you are and what business you are into.

Generally speaking it's easy.

 

[Mike Stoll]

www.paysera.com