Company Registration in Cyprus

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In addition to having the lowest corporate tax rate in the EU and other tax advantages for businesses, generally it is a straightforward process to incorporate a company in Cyprus. A corporate bank account can also be opened without delay and the Directors of the entity do not have to be physically present in Cyprus for Company Registration in Cyprus
To incorporate a business in Cyprus you can choose any of the following legal corporate forms: a private limited company, a public company, or a company limited by guarantee. Any administration is regulated by the Cyprus Company Law Cap.113 and supervision is exercised by the Registrar of Companies.
There are 4 general fees involved when setting up a Cyprus legal entity or company:
· The registration or set up fee.
· The annual fees.
· The accounting/auditing fee.
· The annual expenses payable to the Registrar of Companies.
The following steps are generally completed before a company is formed or incorporated in Cyprus:
1) A Lawyer or Service Provider is chosen appropriately.
A Laywer licensed by the Cyprus Bar Association is needed to prepare and sign the company’s’ Memorandum and Articles of Association and the declaration form. Alternatively a service provider can help with as many steps as required.
2) These forms are required to register a company in Cyprus:
· Declaration of company incorporation (also known as the HE1 form).
· Registered company office address, (HE2).
· Particulars of the Shareholders, Directors and Secretary (HE3).
· Memorandum and Articles of Association.
3) The following information is needed in order to fill out the registration forms:
· The addresses and passport details of the proposed Directors and Secretary of the company.
· The proposed registered address of the company.
· A utility bill to act as proof of residency.
· A recent bank reference letter/statement.
· The amount of nominal share capital (i.e. €1000) and how it is divided (i.e. 1000 shares of €1 each). If your company is a public company there is a minimum share capital of €25,650.
· The proposed business address of the company.
4) Choose a company name.
You can see if your chosen company name already exists in Cyprus here, then this is submitted to the Registrar of Companies. Depending on the workload of the Registrar, the company formation procedure can take up to one month. This process can be reduced if a name is chosen from a list of pre-approved names, but it is generally recommended to submit 2 or 3 names to guarantee an option will be available or not already taken.
5) The company will be registered in approximately one month.
Once all documents have been approved, the incorporation process usually takes no more than one month to complete, once the delivery of the Cyprus offshore company has been confirmed and the Apostille certificate has been delivered by courier declaring a legitimate offshore business with Company Registration in Cyprus.