Cyprus Company Formations
Companies incorporated in Cyprus are Limited Liability Companies (LLC), which offer limited liability to its shareholders. We incorporate all our companies by working with the Cyprus Department of the Registrar of Companies.
- 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
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
- Your company only requires one director
- Directors may be of any nationality
- There is no requirement to appoint a Cypriot director
Cypriot companies require a company secretary. If you need to establish tax residency for the company, your company 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 secretary.
- Only one shareholder is required to form your company in Cyprus
- Shareholders may be of any nationality
- Your company only requires one shareholder
- Corporations are allowed as shareholders