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Marfin Popular Bank Public Co Ltd
Cyprus, Nicosia, rating in Cyprus[2], world-wide rating[499] |
History: |
Established in 1901. Since than the Bank has taken over four smaller banks in Cyprus. The Bank’s activity covers 40% of the banking services offered on the Cyprus market. The Bank has more than 150 branches in Cyprus, 15 branches in United Kingdom, 20 branches in Greece (subsidiary). There are representative offices in Russia, USA, Canada, Australia, South Africa, Yugoslavia. |
Shareholders: |
The Bank is a Public Company Limited by Shares, and it’s shares are traded on main stock exchanges. 23% of the Bank’s shares belong to the significant international bank group, Hong Kong and Shanghai Banking Corp. Ltd. The rest of the shares mainly belong to private persons, bank employees and senior management. |
Types of Accounts: |
Corporate, personal. The accounts may be opened in branches located in London and Athens. |
Opening balance: |
Not required. However in case there is no payment made in the current year, the account ceases. In this case it is necessary to contact the bank and inform the manager about your intentions. |
Minimum deposit: |
Not required. |
Accounting fee: |
0.1 % of the value of the outgoing balance, but not less than $30 and not more than $150.  Custody service in the Bank is free of charge, statement sent by fax - $2, currency exchange – 0.5%-0.4%. |
Execution of payments: |
Date of transaction – the same day (ordinary transaction). Opening hours of the bank are until 2pm (in Moscow time). |
Account management: |
1) Faxed remote codes 2) Modems between Bank and Client – free of charge (MultiBank) 3) Internet. The account is accessible through the bank’s website, using login name and PIN code. |
Timing of opening a bank account: |
Corporate account can be opened on the same day. (The remote codes are kept with the representative branch of the bank. The operation of the bank account may be started through Internet once payment has been made onto it.) |
Employees: |
Russian speakers, English speakers , including the representatives in Moscow |
Credit Cards: |
VISA, MasterCard, American Express. Insurance cover on Classic or Gold cards – $5000. Limit of transactions – no restriction, all available funds may be spent. In respect of VISA Electron card the insurance cover is $1500. Charge on cash withdrawal is 3,3%. |
Other Products: |
Cheque books, credit letters, guarantee up to the deposit, 1-2% mortgage for property purchase ( in cooperation with group Cybarco). |
Profitability/reliability of investment products: |
The Bank entered into an agreement with on outstanding world паевых fund, Fidelity Investments, through which clients may choose different profit/risk ratios for their resources. Possible profit, taking reasonable risk, varies between 17%-25%.   |
Visit to the Bank: |
Not necessary |
The procedure of opening a bank account: |
1)A representative of the Bank in Moscow holds an interview, certifies the client’s signature on the bank forms, certifies the copy of the passport and other documents. At the same time advises on opening the account, the contact numbers, the name names of the bank officers and the account number. He hands over the remote codes, passwords which enable the client of accessing the bank account through a modem.
2) The client signs all necessary forms. Original documents of the company do not remain in the bank. The confirmation of the bank account (including account number, contact numbers, names of bank officers) is sent by fax, fee information, schedules and other materials are sent by courier service. |
Requirement: |
Copy of passport |
Nature of the accounts: |
Current-Savings |
Our objective valuation of the bank on a scale of 10: |
9 |
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Ireland Will Not Budge On Corporate Tax Rate
5/21/2012 6:12:00 AM
Hiking Ireland’s corporation tax rate is not in the country’s interests, Prime Minister Enda Kenny has said, a sentiment backed up by his deputy and Finance Minister, who have also stressed that Ireland remains firm in its position on the tax.
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| FAQ |
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What is offshore?
The word "offshore" has no precise legal dictionary definition, it simply means "situated or operating in a foreign country or at some distance from the shore" and reflects the fact that most low tax jurisdictions are islands.
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| Portfolio of Laws |
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- BVI - Trustee (Amendment) Act, 2003
- Cayman Islands - The Companies Law (CAP.22) - (2002 Revision)
- Cyprus - The Income Tax Law of 2002
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| Comparison Table >> |
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