Can anyone tell me the risks involved while setting up a business in Cyprus?

[Steven Cohen]

I’m a businessman and I want to expand my biz — starting with Cyprus company formation. But I ain’t tryna walk into a legal sh*tstorm, so what are the risks and legal stuff I should watch out for when setting up shop there?

 

[slipperypete]

I’m a businessman and I want to expand my biz — starting with Cyprus company formation. But I ain’t tryna walk into a legal sh*tstorm, so what are the risks and legal stuff I should watch out for when setting up shop there?

alright bro, real talk — Cyprus is smooth on paper but has some gremlins in the shadows

main risk? your agent vanishing mid-process and your company address suddenly being a kebab shop

 

[Steven Cohen]

alright bro, real talk — Cyprus is smooth on paper but has some gremlins in the shadows

main risk? your agent vanishing mid-process and your company address suddenly being a kebab shop

not the kebab shop

yo fr tho I used one agent who forgot to file my annual return and I got hit with €500 fine like it was a parking ticket

 

[slipperypete]

not the kebab shop

yo fr tho I used one agent who forgot to file my annual return and I got hit with €500 fine like it was a parking ticket

yup, the legal system’s chill until you miss one deadline, then it’s straight-up euro mafia mode

they’ll freeze your account and send passive-aggressive emails in perfect legalese

 

[Goodboy13]

another one: banking ain’t as sweet as it looks
they’ll open the account but if you so much as say the word “crypto,” the compliance team starts breathing heavy and ghosting your emails

 

[Horkos]

another one: banking ain’t as sweet as it looks
they’ll open the account but if you so much as say the word “crypto,” the compliance team starts breathing heavy and ghosting your emails

bro my bank manager asked me what my “real business model” was like sorry I’m not flipping insurance — I’m running a media company with six websites and one actually exists

 

[LevelUpLarry]

also watch out for nominee traps
some of these nominee directors act like they’re running your company
tried to veto my invoice cause “it looked suspicious” — b*tch you’re a paid name, not my mom

 

[Steven Cohen]

also watch out for nominee traps
some of these nominee directors act like they’re running your company
tried to veto my invoice cause “it looked suspicious” — b*tch you’re a paid name, not my mom

lol I had a nominee who tried to change my password on the gov portal
dude thought he had main character energy

 

[slipperypete]

compliance heat is rising too
they’re technically in the EU so you gotta act semi-legit now
no more registering “Global Quantum Futures Inc” and selling fake forex bots without a decent backstory

 

[Goodboy13]

compliance heat is rising too
they’re technically in the EU so you gotta act semi-legit now
no more registering “Global Quantum Futures Inc” and selling fake forex bots without a decent backstory

bro I literally renamed mine “Westbridge Holdings” and now I get fewer questions
lesson: sound like a trust fund, not a TikTok project

 

[Horkos]

main legal thing to note:
annual audited financials = mandatory
doesn’t matter if you made €10 or €10M, they want the fkn report
hire a sleepy local accountant and tell him it’s “just consultancy and holding” — he’ll nod and invoice you monthly

 

[Steven Cohen]

main legal thing to note:
annual audited financials = mandatory
doesn’t matter if you made €10 or €10M, they want the fkn report
hire a sleepy local accountant and tell him it’s “just consultancy and holding” — he’ll nod and invoice you monthly

mine doesn’t even ask questions anymore
just sends me “summary of operations” templates pre-filled with BS and blesses it with a signature

 

[LevelUpLarry]

also, avoid weird business names — I once tried “CryptoStack Analytics” and the registrar sent me a “please clarify your scope” email
I changed it to “Larnaca Business Ventures” and got approved in 24 hrs

 

[Goodboy13]

also, avoid weird business names — I once tried “CryptoStack Analytics” and the registrar sent me a “please clarify your scope” email
I changed it to “Larnaca Business Ventures” and got approved in 24 hrs

Cyprus is like a strict aunt — cool as long as you dress nice and don’t say what you’re actually doing

 

[slipperypete]

TLDR:
risks = lazy agents, annoying banks, nosy nominees, and pretending to be professional while doing morally questionable sh*t
but if you play it right, Cyprus is a fkn goldmine for paper-based wizardry

 

[Steven Cohen]

TLDR:
risks = lazy agents, annoying banks, nosy nominees, and pretending to be professional while doing morally questionable sh*t
but if you play it right, Cyprus is a fkn goldmine for paper-based wizardry

appreciate y’all
I’m off to set up “Ionbridge Strategies Ltd” and make sure my nominee knows he’s just the decoration