Panama corporation with Cyprus bank account need to know how

[benjamin]

I want to open a Panama company but because I will buy some property sooner or later in Turkey I will need a european bank account so I see Cyprus is offering the opening of bank accounts for foreigners but also for Panama companies?

[Admin]

First of all it is possible, second, it is not difficult just make sure you are able to provide the below documents and information and we are able to help you!

- copy of passport or other government issued photo id
- Utility bill not older than 3 months, if not in English a notarized translation is required
- Reference letter from a Lawyer, current bank or certified accountants, this has to be a personal reference letter
- Corporate documents with Apostille

There is no need to have the VALID passport notarized nor the utility bill if it is in English (capital letters)

[benjamin]

Thank you admin, but I have not been allowed to buy property in Turkey with a Panamanian company it has to be a company in Turkey who buys the porperty

Now I consider to have the Panama company to own a Turkish company and then buy the property.. do you work with any bank in Turkey so I can have the 2 bank accounts I need in the same bank?

[Admin]

Now I consider to have the Panama company to own a Turkish company and then buy the property.. do you work with any bank in Turkey so I can have the 2 bank accounts I need in the same bank?

Sorry no we don't work with any banks in Turkey, but you may approach some of them directly or ask you real estate to introduce you to one.

[benjamin]

It's not possible for a foreign company to own property in Turkey at all! You need to incorporate a company in Turkey in order to own proptery there or move there !!

[Yitzhak]

Do you have to be feet on the ground in Cyprus to open a corporate bank account, provided that you have the documentation? Or is it the kind of thing you can do on the internet?

[Admin]

Well in Cyprus you need an introducer to open the bank account with any of the banks here. So what you have to do is to send your documents (by e-mail) to the introducer who actually is going to the bank in Cyprus to open the account. You / the client does not need to come to Cyprus at all if you don't want. So, yes it can be opened on the Internet.

[Yitzhak]

Does the introducer need to be anyone special, like a lawyer or someone with clout?

[Admin]

The banks in Cyprus will require it to be a certified accountant, lawyer or other licensed accountant.