Basic steps of Company Formation in Cyprus - easy registration without travel

1. We would arrange our introductory web meeting with you to discuss your expectations, business goals, and plans.

2.The registration starts with you providing us with an agreement to register your company/business and provision of some documents enabling us to start a company registration on your behalf and draft necessary for your company registration documents as well as to take necessary actions. You will then be contacted by us to clarify and confirm the basic information (where it is necessary).

3. We finalize drafting prepare all necessary documents for registration of your business here in Cyprus (for non – residents to avoid their traveling this may include a power of attorney from the shareholders/owners of the company (as the case may be). You will then be provided with the incorporation documents (both in Greek and English languages) for their signing and return to us for proceeding with the registration in governmental authorities.

4. Please note that for verification purposes you may be requested to have some documents notarized and/or apostilled before the originals sent to us.

5. Specifically, upon receipt of the complete package of documents (i.e. power of attorney, agreement for the provision of registration services, incorporation documents (in some cases may be provided first in scanned copies follow by originals for facilitating purposes) from you we proceed with submission of necessary applications/documentation to the Department of Registrar of Companies and Official Receiver for registration of your company/business on your behalf. The process of registration from the moment of filing may approximately take 5 to 10 business days.

6. Upon finalization of the registration we provide you with a complete package of your newly registered company documents and more specifically:

(i) Documents/certificates / Memorandum and Articles of Association issued by the Department of Registrar of Companies and Official Receiver;
(ii) An additional package of documents including but not limited to: Subscribers’ resolution, Appointment Letters, First Minutes of the Meeting/Resolution of the Sole Director (as the case may be), Share certificate(s), Register of Directors/Secretary, Register of Members, etc.

Please note that Company formation or takeover/transfer/re-domiciliation of a company is offered on par with accounting and audit services provided by our trusted associates because this way we enable to ensure full compliance by companies with relevant local and EU active legislation.
If our business relationship just starts we will require a small deposit for initiating the provision of incorporation services.

Benefits of Cyprus Company Formation

- EU image, law compliance and quality services at low cost

- Local presence

- Reasonable taxation on par with many double tax treaties

- Stable political environment, friendly and predictable governmental authorities

- Confidentiality of information on par with full compliance with AML regulations

Legal Forms and Types for Cyprus Companies

Most common forms of companies:

- Limited Liability Company – a company whose members’ liability is limited by the founding document to the amount, (if any), that has not been paid for the shares they hold respectively; shareholders are registered publicly; the company restricts the right to transfer its shares; limits the number of its members to fifty; prohibits subscription for any shares or debit bonds of the Company by the public. The registration of a private company may be exercised by a single shareholder (a nominee shareholder services may be provided for confidentiality purpose where required);

- Public company – must have 7 or more shareholders and at least 2 directors. The minimum share capital is 25, 630 euros and it must be submitted before the trading certificate is issued.

- Limited by Guarantee Company – a company whose members’ liability is limited by the founding document to the amount that the members wanted to undertake respectively to contribute to the company’s assets in case of its dissolution.

- Branch of a foreign entity – Foreign companies (having established a place of work within the Republic) have the right to open a branch in Cyprus. It is noted that within one month of the establishment a written report along with required under the Companies Law constitutional documents of the Company applying for a branch registration must be submitted to the Registrar of Companies.

Additional structures and options

- Limited Partnership

- General Partnership

- Sole Trader

- Trusts

Note: For further information on the above structures please contact us directly.

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