Comprehensive Guide to Company Registration in Cyprus: Requirements and Process
Establishing a company in Cyprus offers businesses numerous benefits, from strategic location to favorable tax regulations. At Connor Corporate Services Ltd, we specialize in making the process of registering a Cyprus company seamless and efficient. This guide explains the essential steps, requirements, and options available for incorporating your business in Cyprus.
Why Register a Company in Cyprus?
Cyprus has become a prime destination for entrepreneurs and corporations due to its attractive business environment, including:
•A corporate tax rate of 12.5%, one of the lowest in the EU.
•Access to European Union markets and double tax treaties with over 60 countries.
•A strategic location bridging Europe, Asia, and the Middle East.
•High-quality professional services, including legal, financial, and banking sectors.
Key Steps for Company Registration in Cyprus
1. Propose a Company Name
The first step is to select a unique company name and submit it to the Cyprus Registrar of Companies for approval.
•The name must not be identical to any existing company name.
•If the proposed name matches that of a group operating internationally, a letter of consent from the group is required.
2. Define Business Activities
The Memorandum and Articles of Association of the company must clearly outline the primary business activities. These documents are pivotal for the legal incorporation of your company.
3. Gather Required Documentation
To comply with Cyprus regulations, the following documents must be provided:
•Bank Reference Letters: Proof of financial credibility for all beneficial owners, shareholders, and directors.
•Apostilled Passport Copies: Certified copies of the passports of individuals involved in the company.
•Proof of Address: A recent utility bill or bank statement (no older than three months).
4. Structure the Company
Cyprus companies must adhere to specific structural requirements:
•Shareholders: At least one shareholder is required, who can be an individual or a corporate entity.
•Directors: The company must have at least one director. For tax residency purposes, we recommend appointing Cyprus-resident directors.
•Secretary: A company secretary must be appointed to handle statutory obligations.
•Registered Office: The company must have a registered office in Cyprus, which can be provided by Connor Corporate Services Ltd.
Types of Companies You Can Register in Cyprus
Private Limited Company (LTD):
•Most common and versatile.
•Suitable for holding, trading, and investment purposes.
Public Limited Company:
•Requires a minimum of seven shareholders.
•Shares are freely transferable and publicly traded.
Branch of a Foreign Company:
•An extension of a parent company located abroad.
•Operates under the same name as the parent company.
General and Limited Partnerships:
•Suitable for small businesses or joint ventures.
Our Services for Company Formation in Cyprus
At Connor Corporate Services Ltd, we offer a comprehensive registration package to ensure a smooth setup process. Here’s what’s included:
•Approval of Company Name: Guidance through the application process.
•Preparation of Incorporation Documents:
•Certificate of Incorporation (English and Greek versions).
•Memorandum and Articles of Association.
•Share Certificates and Registers.
•Nominee Services: Provision of nominee shareholders, directors, and secretary if needed.
•Registered Office Address: Use our office as your company’s registered address.
•Bank Account Opening Assistance: Help with preparing necessary documentation and liaising with banks.
Ongoing Compliance Obligations
After incorporation, your company must meet ongoing requirements, including:
•Annual Filings: Submission of financial statements and tax returns.
•Audits: Preparation of audited accounts as per Cyprus law.
•Beneficial Ownership Register: Declaration of the Ultimate Beneficial Owner (UBO) within 30 days of incorporation.
Why Choose Connor Corporate Services Ltd?
We have years of experience assisting businesses of all sizes with company formation in Cyprus. Our dedicated team offers:
•Expert advice tailored to your business needs.
•Fast and efficient processing.
•Competitive pricing with no hidden fees.
Whether you’re an entrepreneur starting your first business or a multinational corporation looking to expand, we can guide you every step of the way.