As of the 14th of June 2018 it will no longer be possible to open a Cyprus bank account to a "Shelf" or "Letter Box" Company. Whether the origin of such company is Cyprus itself or a "Tax Heaven" Jurisdiction (such as the BVis, Seychelles, Belize, Lichtenstein,) the opening of a Cyprus Bank account will no longer be possible unless real substance is demonstrated to the local banks.

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