Eternity Law International REGISTRATION OF THE COMPANY IN CYPRUS

REGISTRATION OF THE COMPANY IN CYPRUS

Published:
October 7, 2020

Cyprus was a colony of Great Britain, but now it is an independent country and an EU member. Besides, Cyprus is consider financial heaven. For the last few decades, the authority built one of the most flexible taxation systems in the world.

THE PROCEDURE REGISTRATION OF THE COMPANY IN CYPRUS

Step 1. Choosing the legal entity for the company.

The most common options are:

  1. Limited liability company. They can be public or private, the difference depends on your plans and shares. In the private company all the shareholders are liable for the company debts. The public company is responsible for the affairs by itself. The legislation puts demands to the minimum share capital of the public company – at least 25 650 Euros. The private company is unlimited in capital formation.
  2. Representative offices of foreign companies. Your business will be operate in Cyprus according to the local legislation. But the parental company will be situated in other country.
  3. Partnerships. You can conduct a general or limited partnership. The main requirement of this type of entity is a number of owners – at least 2 partners.
  4. Sole proprietorships. If you plan to manage a business by yourself, it will be the simplest variant to set up a company in Cyprus.

Step 2. Documents for registration.

You have to submit:

  1. notarized copies of passports;
  2. the naming of a company (you should check it in the Trade Register first). It is useful to choose a few names if the preferred name will be occupied;
  3. notarized founding documents;
  4. documents of the director and secretary (copies of passports);
  5. bank account;
  6. the legal address of the company – you have to buy or rent a real office in Cyprus.

Pay attention. Nuances in the procedure for different companies

LTD is the most common type of company in Cyprus. You can set up a business on your own or include partners. In this case, it is important to record how the profit will be share among all shareholders. The presence of the Secretary’s position is obligatory.

In a private type of company, you can form any share capital. It can be a winning condition for the small business. But in case of losses, all the shareholders will be liable for their cover.

So, the public company suggests financial protection for its owners. The only problem can be connect with the number of shareholders. You need at least 7 members.

It is also possible to register an offshore in Cyprus. This option assumes that the main founds of the company will be located outside the country. Nevertheless, the procedure for company registration is similar to other legal entities. You should pay attention to this variant, as an offshore company pays lower taxes and provides the owners with increased security and privacy.

No matter what option do you choose, you still need a real office in Cyprus. It is a strong requirement, which can not be dropped. The best way to save time and to be sure that affairs are going well is to hire a local agent.

There is a great number of such agents in the Cyprus market. This person will help you to operate a business, recruit personnel and control the finance if you are abroad.

Step 3. Applying for the Certificate of Registration

If your documents are notarized, you still need to fill an application in the Trade Register. After the approval, you will receive a specific Certificate. There is no need to renew it – the certificate is valid until the liquidation of the company.

Step 4. Tax and licenses

With the Certificate of Registration, you can submit the documents for taxation and licenses (if you need to). Only after getting the confirmation from the tax and government, authority you can start providing services in Cyprus and abroad.

FEES FOR BUSINESS REGISTRATION

Each step of company registration is payable. A total cost depends on the type of legal entity you choose for business.

The first fee should be pay during the name registration. It will cost you approximately 30 Euros. The second fee is make for including the company to the official Register.

Do not forget about other payouts:

  1. notary’s fee for the document approval;
  2. office rent;
  3. staff salary;
  4. bank account opening and further service;
  5. share capital.

REGISTRATION TERM

  1. name reservation will take 1 day;
  2. preparing documents – up to 3 days;
  3. submitting documents – 2-4 days;
  4. registration for taxation – 1 or 2 days.

Eternity Law International will gladly help you with registration of the copmany in Cyprus, and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.

Please join our Telegram channel in order to keep updated for the new offers.

You could be interested

Ready-made company in China

READY-MADE COMPANY WITH A BANK ACCOUNT IN CHINA READY-BASED COMPANY WITH A BANK ACCOUNT IN CHINA What is included: Ready-made company in China; bank account for the company. China is a large-scale market with huge production potential. As a result, it attracts non-resident entrepreneurs, since here they can realize all their aspirations. Despite this, the...

Ready-made company in Switzerland with bank account - for sale

New investment opportunity – Swiss ready-made company for sale. Please review the basic information regarding the proposal below. Available to buy – Swiss ready-made company with bank account What’s included in the offer: AG company; Year of company incorporation: 2012; Place of company incorporation: Chur, Switzerland; Bank account in BPS (Suisse); Share capital: 100,000 CHF;...

Ready-made firm with a bank account in Italy for sale

A ready-made firm with a bank account in Italy for sale is registered in Rome. The company was founded in 2023. Buy a ready-made firm with a bank account in Italy A ready-made company with an account for sale in Italy is established in the form of an SRL. The company has an active bank...

READY-MADE COMPANY WITH BANK ACCOUNT IN UAE

Ready-made company in UAE with bank account. Company in the UAE (Fujairah, free zone). Corporate bank account. Included: License upgrade + license type change + office upgrade; Change of ownership; VISA to a new shareholder. For details: office@eternitylaw.com Please feel free to join our telegram channel in order to keep updated for the new offers for ready-made...

HONG KONG COMPANY WITH MONEY SERVICE OPERATOR LICENSE

HONG KONG COMPANY WITH MONEY SERVICE OPERATOR LICENSE Hong Kong company with Money Service Operator License issued by HKCED. Year of registration 2017. License allows money remittance and money exchange and online account opening: SWIFT BIC code is active and published in SWIFT directory; Corresponding bank accounts opened in Europe (not European Union though) in...

Securities Dealer Licensed Company in Seychelles for Sale

An opportunity to acquire a Seychelles-registered company with a Securities Dealer license. Key Features of Securities Dealer Licensed Company Established: 2018 License Type: Securities Dealer License, granted in 2020 Operational Status: Activated but never active; no clients. Company Status: In good standing, no complaints, clean regulatory record. This is an ideal opportunity for investors seeking...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7