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| Registered business in UK, how can I get a bank account? https://www.paphospeople.com/ppforum/viewtopic.php?f=45&t=22818 |
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| Author: | Laura123 [ Sat Oct 20, 2012 12:36 pm ] |
| Post subject: | Registered business in UK, how can I get a bank account? |
Hi, I have a business registered in the UK, and believe that because we're in the EU I can run that business over here without having to register here? Am I correct? Also I need to open a business account over here just a simple one no loans or overdrafts. But do I need to register over here to open an account? Thanks |
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| Author: | Laura123 [ Sat Oct 20, 2012 12:40 pm ] |
| Post subject: | Re: Registered business in UK, how can I get a bank account? |
Also.. can I register for VAT over here or again do I have to be registered in Cyprus? |
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| Author: | emgeeb [ Sun Oct 21, 2012 8:57 am ] |
| Post subject: | Re: Registered business in UK, how can I get a bank account? |
Laura Suggest that you go and see a Lawyer for advice. Alan |
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| Author: | Lesley [ Sun Oct 21, 2012 2:49 pm ] |
| Post subject: | Re: Registered business in UK, how can I get a bank account? |
I presume that's why she put her query in the legal section!! Lesley |
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| Author: | emgeeb [ Mon Oct 22, 2012 6:34 pm ] |
| Post subject: | Re: Registered business in UK, how can I get a bank account? |
I only view "active topics". My advice still stands. Alan |
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| Author: | PetitorVeritatis [ Tue Oct 23, 2012 6:34 pm ] |
| Post subject: | Re: Registered business in UK, how can I get a bank account? |
I would advise you to seek professional advice. You may not trade under your UK business name if some-one in Cyprus already has that name (or a very similar name) already "registered" with the Cyprus Registrar of Companies. You can "run" your business (ie if it is "on-line") - but you cannot "perform" your business ie trade locally without the proper registrations etc. You would probably have to set up a subsiduary company ie (ABC (Cyprus) Ltd or similar). VAT will depend on the turn-over of business conducted IN Cyprus - the VAT threshold in Cyprus is much lower than the UK. VAT has to be paid locally for business conducted locally. Do not assume anything. Get qualified advice please. |
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