For many years already the British Virgin Islands have been one of the most used offshore jurisdictions for the registration of foreign companies. The BVI have always attracted investors as jurisdiction for holding business. One of the main reasons why the BVI are so popular is the high level [...]
Chief Compliance Officer
Korpus Prava (Cyprus)
The KYC procedure is based on the risk estimations as well as basic identity information for customer identification. The companies aim to assess the risk of each individual customer's involvement in illegal activity.
Rendering corporate and fiduciary services in Cyprus is a regulated type of activity, which requires licensing. License for rendering such services is issued by a regulatory authority, Cyprus Security and Exchange Commission (“CySec”).
A few years ago, the procedure of opening a bank account for business was not unusual and was not associated with any complex procedures. Relations between businesses and banks were based on trustworthy partnership, but in recent years the world has changed a lot.