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Cyprus Company (Bank account issue)

rbmail

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rbmailNew MemberAuthor
Joined
Feb 2020
Messages
14

#1

Hello,

I created a company in Cyprus for an online business which I am starting, and for that reason it has no customers yet. It turns out that when I try to open a bank account they are all asking for a "cooperation agreement" with customers/partners, and because it is a new business I can't provide what they ask it has no customers yet.

Does anyone know any solution for this matter?

Best regards,

RB

GediminasEstablished Presence
Joined
Oct 2019
Messages
1,727

#2

rbmail said:

Hello,

I created a company in Cyprus for an online business which I am starting, and for that reason it has no customers yet. It turns out that when I try to open a bank account they are all asking for a "cooperation agreement" with customers/partners, and because it is a new business I can't provide what they ask it has no customers yet.

Does anyone know any solution for this matter?

Best regards,

RB

Have you tried explaining this to the bank?

rbmailNew MemberAuthor
Joined
Feb 2020
Messages
14

#3

Yes but they insist on asking for what i can't give. I don't know what i can do more, this company have 5 month's and i can't have bank account to start operate.

Anyone can help me?

GediminasEstablished Presence
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Oct 2019
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1,727

#4

Just open an account in another jurisdiction. Bank of Cyprus is not the best option anyway.

Drop me an email if you need some help.

Martin EversonOffshoreCorpTalk moderator
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Jan 2018
Messages
11,922

#5

The classic chicken and egg scenario. Find an EMI then make your way to the bank once you have customers.

rbmailNew MemberAuthor
Joined
Feb 2020
Messages
14

#6

Martin Everson said:

The classic chicken and egg scenario. Find an EMI then make your way to the bank once you have customers.

Thank you for your help.

Do you recommend any EMI?

Martin EversonOffshoreCorpTalk moderator
Joined
Jan 2018
Messages
11,922

#7

rbmail said:

Do you recommend any EMI?

Transferwise.

rbmailNew MemberAuthor
Joined
Feb 2020
Messages
14

#8

Martin Everson said:

Transferwise.

Sorry but can you recommend any other? do not include Transferwise and Paysera (i have personal account with them and i prefer to do not mix business/personal accounts).

Thank you.

GediminasEstablished Presence
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Oct 2019
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1,727

#9

rbmail said:

Thank you for your help.

Do you recommend any EMI?

Bankera

rbmailNew MemberAuthor
Joined
Feb 2020
Messages
14

#10

Gediminas said:

Bankera

I will try. Thank you for all your help.

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