What is Central Bank of Cyprus permition?
Cyprus offshore company (or foreign company with branch in Cyprus), has no rights making commercial payments in Cyprus pounds, so in order to make payments in other currencies must have the license of the Central Bank of Cyprus. To receive this license is possible after filling the application and presenting the bank reference letter so the CB was sure that the company is 100% owned by non resident that is well known and can be trusted. The license is issued within 3-8 working days. Bank reference is presented to the CB by an advocate of PPB INC LTD in strict confidentiality. * The letter must have no correction or additions, otherwise is not accepted * The letter is preferable to be in English. Bank reference must be in original and written on Banks letterhead, with the telephone and fax details of bank, signed and sealed by the bank official (name and surname of the official must be clearly stated. A draft of this letter is available in our brochure). This way is tested and effective
