your
company

with bank account

Registered office

Licensed secretary

Mailing address and more

€99* per month
*Excluded VAT 19% and company set up fee €999

1

We speak your language

24/7 support in English, Chinese, Greek and Russian

2

Seamless banking

With bank accounts
in Cyprus, Hong Kong, Singapore and more

3

Hassle-free company management

Manage your company 100% online

4

Low upfront costs

With our monthly subscription option

Trusted by business around the globe

Bogdan Kuznetsov

Owner and Founder of Crazy Panda

I’ve been working with the company for years now. I’m very happy with the result, I’ll continue to cooperate.

Alexander Andryushchenko

Managing Director of Sindbad Publishing

Simple and intuitive interface; fast and friendly support in Messenger – guys got back to me in few minutes!

Georgiy Gordeev

Individual Entrepreneur in IT

Monthly subscription is very favorable and easy! I can use the company for 100$ per month!

company services

Compliance & KYC check

Approved name

Set of apostilled documents

Licensed Secretary

Registered Office

AML monitoring

Pricing

€999*

Total one time per year

Open company

€99*

Per month

Open company
*Excluded VAT 19% and company set up fee €999
Additional services

from €39*/month

Nominee shareholder

€329*/month

Real Substance

from €49*/month

Directorship

€99*/month

Bookkeeping

How will it go

10
min

Upload
Documents

15
min

Wait for
approval

1
day

Sign
documents

7
days

Wait for company registration

Licensed Company Secretary

Registered Office

AML monitoring

Preparation and submission of documents for company transfer

Transfer of company’s file

Pricing

€999*

Total one time per year

Transfer company
*Excluded VAT 19%
Additional services

from €39*/month

Nominee Shareholder

€329*/month

Real Substance

from €49*/month

Directorship

€99*/month

Bookkeeping

How will it go

10
min

Upload
Documents

15
min

Wait for
approval

1
day

Sign
documents

4
days

Wait for registration procedures

Bank options proposal

Communication with the bank employees

Filling out bank forms

Documents set submission

How will it go

10
min

Upload
Documents

15
min

Choose
the
bank

15
min

Provide
information

at least
4
weeks

Wait for
the
account
details
Questions
How long does it take to open a company in Cyprus?

It takes 6-7 working days to register your company once KYC procedure is done and original signed corporate documents are received.

How is company incorporation procedure going?

First, make a free account. Then, the process is the following:
1. KYC – Know Your Client – procedure (documents of Director(s), Shareholder(s) and UBO(s) are requested).
2. Preparing of company incorporation documents by YouReg Service Provider.
3. Signing of documents by UBO(s) and sending to YouReg in original.
4. Submission of the documents to the Company’s Registrar by YouReg Service Provider. The company will be registered within 7 working days.

Who can be the Director of the company?
Any individual or legal entity. The company can be declared is a resident for tax purposes of that country where the Director is located permanently.
Do I need to visit Cyprus for company registration or account opening?
To register the company – no; to open account – there are many banks which open accounts distantly or have offices located in many jurisdictions.
What is included in month payment 99EUR for the Secretary services?
Registered Office
Issue of Incumbency Certificate, Corporate Register
Compliance & AML monitoring
Assistance in communication with public authorities, courts
Signing and archiving of the documents
Receipt of correspondence
Does YouReg provide bookkeeping services?
Yes, the fee is 99 EUR per month if the number of transactions does not exceed 20.
What documents should I provide for KYC check?

With respect to individual: a valid passport, proof of address issued within the last 3 months, Curriculum Vitae.
In regards to legal entity: corporate documents including Registers of Directors and Members, Certificates of Good Standing and Incumbency issued within the last 6 months.

Does YouReg need any documents in original?

Yes, if you cannot arrange a face-to-face meeting during KYC procedure (you are only available for a video conference). Also, some of corporate documents are required in original to initiate company registration procedure.

Are there any requirements for a Company Name?

The company can be registered with a Greek name or in a language containing Latin letters. It is recommended to avoid using names which are very similar to existing and registered companies or names including specific words, or names of “general meaning”. Company name must have the word “LIMITED” or “LTD” at the end. The use of the words “Queen”, “World”, “Department”, “Corporation” or “Inc”, “Commission”, “Federation”, “Council”, “Authority”, “Bureau”, “Cooperative”, “Group”, “Government”, “Bank”, “Stock Exchange”, “Financial”, “International” are not approved. Otherwise, you can name the company as you wish.

Can the Director of the company be the Secretary as well?

Yes, if Director is a local individual or legal entity.

If I choose Nominee Shareholder, will any Agreement be conducted with him?

Trust Deed will be signed between the Nominee Shareholder and the Ultimate Beneficial Owner (UBO).

What does “physical address of the company” mean?

It is the address where the company management is effected; namely, the Director of the company is located here. Also, it can be the address of the office where the employees are working from.

What does “real substance” mean and why does Cyprus company need it?

Real substance means the existence of real office of the company in Cyprus. The company needs it if it requires to open a bank account in Cyprus because it is the main requirement of the banks currently. Real substance arrangement service includes:
– office lease;
– agreeing contracts with utility service providers;
– procurement of the internet provider;
– furnishing the workspace (computer, phone, fax, desk, chair);
– procurement of the professional director and an insurance agent;
– registration of the director in compliance with social insurance requirements;
– company website design.

How long does it take to sign contracts, invoices, etc. by the Shareholder(s)/Director(s) provided by YouReg?

The documents are signed within an hour. If you require the originals, the documents will be sent to you within the same working day.

Questions
How long does it take to transfer the company under YouReg administration?

It takes up to 10 minutes to submit the application and 4-5 working days to change the Secretary, Director and/or Nominee Shareholder, if applicable. The timeframe for transferring of company file in original to the new Corporate Administrator depends on the Corporate Administrator in charge.

How is the procedure for transferring company administration going?

First, make a free account. Then, the process is the following:
1. Signing of the Instruction for transfer of administration by UBO.
2. KYC procedure (documents of Attorney(s), Director(s), Shareholder(s) and UBO(s) are requested).
3. Preparation of resignation and appointment documents by YouReg Service Provider.
4. Transferring of company file containing original corporate documents, contracts, power of attorney(s), bank statements if any to the new Corporate Administrator.

What documents should I provide to transfer the company under YouReg administration?

Instruction for transfer of administration signed by UBO, documents of the Attorney(s)/Director(s)/Shareholder(s)/UBO(s) for the KYC check, bank statements (if the company has bank account(s)). Afterwards, company file containing all original documents is transferred to the new Corporate Administrator.

Does YouReg need any documents in original except existing ones in the company file?

Yes, original certified copies of KYC documents are requested, if you cannot arrange a face-to-face meeting during KYC procedure (you are only available for a video conference). Also, Instruction for transfer of administration signed by UBO and some of corporate documents are required in original to change the Corporate Administrator.

Can YouReg communicate with the current Corporate Administrator directly?

Yes, if you provide the contact details of the current Corporate Administrator to the new one and introduce them to each other.

Questions
Has YouReg a list of banks to choose from?

Yes, after signing up and sending a request you will receive a list of banks and other financial institutions in different jurisdictions where YouReg Service Providers have established a smooth and settled procedure of opening an account.

Does YouReg assist with account opening in banks which are not working with?

Yes, the account can be opened in any bank of your choice. If you don’t have contact details of the bank’s manager, we will try to find them.

How is account opening procedure going?

The process of account opening is the following:
1. Forwarding a small description of the company and the individuals involved to the bank.
2. Filling of bank forms.
3. KYC procedure (documents of the company, Director(s), Shareholder(s) and UBO(s) are requested by the compliance department of the bank).
4. Sending of certified documents and signed bank forms in original to the bank.
5. Receiving of bank confirmation regarding account opening.

What documents are required by the bank?

Each bank or other financial institution has its own list of required documents depending on the jurisdiction of the company. The standard lists are:
In regards to legal entity: corporate documents including Registers of Directors and Members, Certificates of Good Standing and Incumbency issued within the last 6 months, latest Financial Statements.
With respect to individual: a valid passport, proof of address issued within the last 3 months, Curriculum Vitae, bank reference letter issued within the last 6 months.
However, additional documents could be requested.

How long does it take to open an account?

Usually, it takes up to 4 weeks to open an account from the date of submission of the documents and bank forms. However, this timeframe could be extended depending on the bank and its internal procedures.

Do all banks require a physical presence of a Signatory/Director/UBO?

No, physical presence requirement depends on the financial institution’s policy. The bank or other financial institution can also arrange a skype call or a video conference instead of a face-to-face meeting.

If the bank requires the physical presence of a Signatory/Director/UBO, how can we arrange a meeting being in different countries?

Many financial institutions maintain representative offices in various locations around the world. If there is such a representative office in your country, the meeting can be arranged there. Also, bank’s representatives often have business trips during which a short meeting can be arranged.

Who can be a Signatory of the account? How many Signatories can there be? Can the Signatory be changed?

Any person can be a Signatory of the account. If that person is not a Secretary/Director/Shareholder/UBO of the company, additional information regarding the relation to the company can be requested by the bank.
Maximum number of the Signatories is specified by the bank; however, many banks allow to appoint at least two Signatories.
Signatory is changed upon request by completing the relevant form.

Can a bank issue a debit/credit card? How many debit/credit cards can be issued?

Yes, it can. A debit/credit card is issued by the bank and other financial institution upon request during the account opening process or later by filling out a special bank form. One account – one debit card with one currency and one credit card.

Can a bank issue a cheque book? How many cheque books can be issued?

Yes, it can. A cheque book is issued by the bank upon request during the account opening process or later by filling out a special bank form. The bank may request the reason for issuing of it. Maximum number of the cheque books is specified by the bank.

Can I get advice on a trustworthy jurisdiction to open an account or on a financial institution in particular?

YouReg doesn’t provide any recommendations. Bank tariffs and Terms & Conditions can be sent as the assistance in decision making.

What is the assistance of YouReg in account opening process?

YouReg Service Providers assist with:
– communication with bank managers including provision of comments to the additional questions/requests;
– filling out bank forms;
– certification of corporate documents and documents of individual(s) if the original copies are provided;
– sending the original copies of signed bank forms and certified documents to the bank.
Requests for account opening can be sent to 3 different financial institutions. However, if there is more than one opened account as a result, you will be required to pay extra 1490 EUR for each.

Are there any guarantees for successful account opening?

Unfortunately, no. Final decision is made by the financial institution and no one is able to affect it. However, we are doing our best to get a favorable decision on the account opening. If the bank rejects the request, there will be 2 more attempts to open the account within an already paid service.

Can YouReg assist with completing of bank forms only?

Yes, the fee is 790 EUR.

Where can I find contact details of bank managers after account opening?

Contact information is provided in the Bank Welcoming Letter. The communication is by email or phone authorised during the account opening procedure. If the email or mobile number is changed, the bank should be notified about it immediately.

Is it normal if the bank requests many documents under the transactions?

Currently financial institutions strictly observe the Anti-Money Laundering legislation. Due to this they request so many documents to ensure that the transaction is legitimate. However, standard package of documents are required typically.

What can I do if the bank doesn't get back to me?

If you are trying to reach the bank or other financial institution by email or phone and are not receiving a response back, contact YouReg and we will help you.

What can I do if the bank takes a long time to process transactions?

The time of processing transactions depends on the financial institution. If there is no bank notification of a cut-off time for transactions, holidays or other reasons for delay, you can contact YouReg and we will help you.

If you have any other questions, contact us via Chat or at info@youreg.tech
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