[client case June 2015] Cyprus bank account and alternative!

Initial question by client:

I'm seeking for bank account opening service for my UK LLC company. I look over your price list for bank offered today in the forum and I have few questions, I hope you can help me to clear out:

(1) What are documents required to open the bank account for UK Private LLC company, which types of document I need to complete the apostille and how many copy?

& Since I'm non-resident of all bank jurisdictions (Vietnam), I prefer to save the courier fees for sending paper back and forth, what types of documents I could send you via email in case CCLogic responsible for preparing documents to the bank?

(2) KYC, I'm planning to step in internet retail business on Amazon & eBay. Will banks over proposed jurisdiction raises much concerns when opening account with them if: My suppliers in Asia (Taiwan, Hongkong,Mainland china); my customers in USA, Europe; providing service from UK company; me is resident of Vietnam?

(3) Is your fees cover bank account opening fees? i.e some bank charge opening account price of EUR 1xx - should I sum up the fees with your service fee to calculate total cost?

(4) I'm looking reasonable bank in dependable jurisdiction with insurance deposit, low maintenance fees for foreign company, low to zero initial deposit requirement. Could you make some recommendation?

CCLOGIC Agent response:

Thank you for your interest in our services and the opening of a bank account with one of our partnered banks.

I will go through your questions as per the following:

1) We will need all the incorporation documents for your company including a certificate of good standing and 1 apostilled set of inc. docs. We will also need a certificate of incumbency if the company is more than 1 year old.

2) The only thing is the customers from the USA, the bank will require an additional application to be completed to claiming tax to be paid in the USA for this customer, we will provide this.

3)Our fee covers the banks setup charges as well, there are no additional setup fees. Some of the banks will require you to pay in some amount before they send you their token device, PIN's etc. and sometimes they charge for it, these charges are not included an different from bank to bank, but typically not higher than EUR 100

4) There are the banks we work with in Cyprus, they have depositor insurance in place, no min. deposits and then there is a bank in Mauritius, same as Cyprus requirements.