Establishing a company in Cyprus

Types of company
The main type of company of interest to international tax planners is that of International Business Company whose shares are owned by foreigners which does not trade in Cyprus.

Name of company
Two or three alternative names are normally suggested for submission to the Registrar of companies. In case you wish to register a company with a name similar to an existing company in another country, then a letter of consent should be sent for submission to the Registrar which should also explain the meaning of the name, if any.

Objects of company
The main activities of the proposed company must be provided.

Shareholders and share capital The company must have at least one shareholder. Directors The company must have at least one director. For the appointment of a director the following information is needed: a. Full name b. Nationality c. Residential address d. Occupation

Secretary
The company by law must have a secretary.

Registered office
It is also a requirement of the law that the company must have a registered office in Cyprus, which may be used as the business address of the company.

Period needed to register a company
The formation and registration of the company including all the formalities can be completed within seven to twenty-one days.

Documents to be provided to the owners
On registration of the company we supply the owners with full documentation, properly legalized and translated into English, comprising of:

a. Certificate of registration
b. Memorandum and articles of association
c. List of director(s), secretary and shareholders
d. Address of the company’s registered office
e. Share certificate(s)

Company obligations
The company must file annual audited financial statements with the Income Tax Authorities and an annual return with the Registrar of Companies.