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Cyprus Company Formations

Cyprus Company Formations

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Companies incorporated in Cyprus are Limited Liability Companies (LLC), which offer limited liability to its shareholders. We incorporate all our Cypriot companies by working with the Cyprus Department of the Registrar of Companies.

Cyprus Company Incorporation feesCyprus Annual Compliance fees
Company Formation: £1960Registered Office: £480
Registered Office setup: £1050Company Secretary required: £500
Government Levy: €350Government Levy: €350
Tax ID: £220Shareholder & Directors Register Maintenance: £180
Company Secretary required: £820Compliance fee: £200

Cyprus Company Incorporation

We offer a complete incorporation package in Cyprus that includes:

  • Reserving your Company Name
  • Liaising with the registrar in Nicosia and relevant authorities
  • Structuring the company as per your requirements
  • Prepare your Company Registration Forms
  • Drafting the Articles of Association / Statutes
  • File the documents with the Registrar of Companies
  • Appoint the Directors
  • Initial Government licence fee payable on incorporation
  • Certificate of Incorporation
  • Issue of shares and production of Share Certificates
  • Memorandum and Articles of Association
  • Certificate of officers, Certificate of registered office address
  • Certificate of Shareholders and Share Certificates
  • Government Fees
  • All documents and certificates supplied in a professional folder
  • Delivery of documents by FedEx / DHL courier

Cypriot Company Law states an application for the formation of a company must be carried out through a Cyprus Law Office.

The formation procedure is as follows:

  • Approval of the company name.
  • Application to the Central Bank for Exchange Control approval.
  • Preparation and printing of the Memorandum and Articles of Association of the company in both Greek and English.
  • We will draft and file the following documents with the Registrar of Companies: Memorandum and Articles of Association of the company (in Greek); forms HE1, HE2, HE3; approval of the Central Bank and the payment of the registration duty.

As soon as registration of the company is complete, the Registrar of Companies will provide us with the Certificate of Registration in Greek and a copy in English, as well as documents detailing the list of directors and secretary, shareholders, registered office and Memorandum and Articles of Association.

Advantages of incorporating in Cyprus

  • Company documents are produced in English as well as Greek
  • Company legislation is based on British company legislation
  • Obtain a European VAT number without the complications of many other countries
  • One of the lowest rates of Corporation Tax
  • Full capital gains tax exemption on capital gains for all non-Cypriot assets
  • Full stamp duty exemption on contracts entered into for assets outside Cyprus
  • Cyprus is not considered to be a tax haven but a tax incentive country
  • Tax treaties with most countries
  • No withholding of tax on dividends
  • No capital gains tax
  • Ease of opening a bank account there
  • Freely transferable accounts of any currency may be kept either in Cyprus or anywhere abroad without any exchange control restrictions
  • No exchange control restrictions once the approval for the registration of the company is granted by the Central Bank of Cyprus

Cyprus Company Directors and Shareholders

Your company only requires one director. Directors may be of any nationality and there is no requirement to appoint a Cypriot director.

Your Cyprus company requires a minimum of one shareholder who may be the same person as the director. Shareholders may be of any nationality and may reside anywhere. Individuals and corporations are permitted as shareholders.

Authorised and Issued Share Capital

  • A company pays a small stamp duty, based on the authorised share capital
  • The minimum authorised, issued and paid up share capital of a Cyprus IBC company is €1
  • Share Capital is in Euros and only one share required

Cyprus Company Secretary

Cypriot companies require a Company Secretary. If you need to establish tax residency for the company then it  needs to demonstrate that management and control of the company takes place in Cyprus. For this reason, as well as for ease of administration, it is advisable to have a Company Secretary.

Registered Office

A Cyprus company must have a registered office in Cyprus, the address of which is filed with the Registrar, which we will provide.

Cyprus Annual Compliance

In line with the Anti-Money Laundering regulations, we complete compliance checks and update the records held at the Registered Office, to ensure your Cyprus company meets its regulatory obligations and remains in Good Standing.

We conduct annual reviews to ensure that the due diligence documentation held on your company file are up to date.

The fee covers the additional time spent monitoring Know Your Client for the Company Directors, Shareholders and other connected entities, in addition to general matters concerning corporate governance and regulatory updates.

Our annual compliance is based on a Cyprus company with standard Share Capital, two Directors and two Shareholders. If your company has a higher Share Capital or additional Directors or Shareholders, there will be additional compliance charges.

Shareholder & Directors Register Maintenance

Under the Companies Act, we need to ensure your company registers, including the directors register and shareholder register are maintained. An updated copy of the Directors register is held at the Cyprus registered office of your company.

If there are changes to the Company Directors of your company, we will need to get updated due diligence records and file an updated directors register with the Companies Registry.

 

To be compliant with the XXXX Companies Act you have a legal duty to maintain statutory company registers including the register of company directors and register of shareholders.

With our service we maintain and keep updated these registers, with an official copy of the statutory company registers retained at the XXX registered office of your company.

If there are changes to the Company Directors of your company, we will need to get updated due diligence records and file an updated directors register with the Companies Registry.

Register of Shareholders – contains information on past and present shareholders, providing a continuous record of ownership since the company’s incorporation. This is the most important statutory register your company is required to keep