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5 simple steps to opening a company in Cyprus

Who can register an offshore company in Cyprus, and what are the advantages of such a registration?

Jurisdiction of Cyprus has long declared itself as a zone of free trade market by providing entrepreneurs from different countries opportunities for the development of multinational business, effective tax planning and registration of international companies. Currently, Cyprus is considered to be the most competitive tax system in the EU, which makes itideal jurisdiction to open an offshore company.

The main legal forms for conducting business in Cyprus are private limited liability companies (private limited company), Public companies (public company)and partnership limited by guarantee (company limited by guarantee). Management of the company is governed by the Head of 113 legislation of Cyprus companies, and monitoring compliance with the provisions of the governing document provided by the Cyprus Registrar of Companies. All individuals can register a company in Cyprus, using the services of a lawyer or a provider of corporate services.

1) First, you need to choose a lawyer or provider of corporate services

Lawyer needed for the preparation and signing of the Charter, the Memorandum and Declaration form your company. At the same time it should be to the Cyprus Bar Association. There is also the alternative of choosing a supplier of corporate services, which can provide you with professional assistance at all stages of the company of your choice.

2) Forms for registration of a Cyprus company:

3) information to fill in the registration form:

  • Addresses and passport details of the proposed directors and the Company Secretary;
  • The proposed registered address of the company;
  • Account for payment of utility services as a proof of permanent residence in Cyprus;
  • Last bank statement;
  • The size of the nominal share capital (€ 1000) and information about how it is distributed (1000 shares at € 1). If your company is a public company minimum share capital of the company must be€ 25.650.
  • The proposed office address of the company.

4) The choice of the company name

HereYou can easily check whether you selected the name of the company in the Cyprus Register of Companies. You can then apply for the assignment of the name of your company in the Cyprus Registrar of Companies.

Depending on the workload of the Registrar of the registration procedure can take up to one month. Dates can be reduced if the company name will be chosen from a list of approved names.

5) The deadline for registration will not take more than a month

Once the documents have been approved, the registration procedure takes about a month. Usually it takes time to confirm the registration of a Cypriot company, and to apostillirovannogo certificate confirming the validity of your business.

A source: Eltoma Corporate Services

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