Our experienced corporate staff exclusively deals with the registration, maintenance and administration of companies in Cyprus and other jurisdictions. The firm's specialist lawyers offer reliable and comprehensive advice on the law, practice and procedure of corporate entities in Cyprus. Speed and confidentiality characterize our work and we feel confident that we can provide a high standard and professional legal service.
Our Corporate Services include:
1. Company Formation
- Application for Company Name Approval
- Drafting of Memorandum and Article of association
- Preparation of all necessary application forms and affidavits for registration
- Company Registration
- Certified Certificates of Registration, Registered office, Director, Secretary, Share and Shareholder
- Company Seal
2. Company Maintenance and Administration
- Nominee Services (Shareholders, Directors, Secretary and Register Office)
- Minutes
- Board Decisions
- AGM and EGM
- Statutory Articles Changes
- Company Registrar Applications
- Issue and authentication of any necessary company documents
- Full secretatial support
Cyprus’s Attractive Tax Regime for Companies
Cyprus being a member of the European Union, over the years has been developed into an international financial center from where international investors and multinational companies hold and manage their trans-border investments.
Cyprus offers an opportunity for non-EU companies to establish themselves in the greatest single market in the world, through the registration as Cypriot-based entities.
Cyprus is one of the best places for locating an intermediary company due to the island’s combination of tax treaties and low tax regime. A company is tax resident in Cyprus when its management and control is exercised in the Republic.
All companies are subject to a uniform tax rate of 10% which is the lowest corporate tax rate in the European Union.
Dividends received by Cypriot tax resident companies are fully exempt from local taxation in respect of dividends received from foreign corporations provided the Cypriot company own at least 1% of the share capital of the paying company.
Cyprus has an impressive network of double taxation treaties covering more than 40 countries, including inter alia Russia, China and many Eastern European Countries and in combination with low corporate tax offers the best possibilities for effective international tax planning. The main objective of the double tax treaties is to avoid the double taxation of income earned in any of the two contracting countries. The treaties also provide for reduced withholding taxes for dividends, interest and royalties.
Buy a “SHELF COMPANY”
In case you wish to start business activity immediately we will offer you our shelf company.
“Shelf Company” is a company which was recently registered by our Law Firm and it had never conducted any business. Therefore it has no liabilities and it has no assets.
Any changes, our client wishes to do to the “shelf company”, regarding the company’s name, directors and/or a director’s authority will be recorded in Resolution of the Company and filed to the Company Registrar.
Registration Procedure of a Company in Cyprus
The procedure to register a company in Cyprus is rather simple and takes approximately 10 days. The procedure is as follows:
- Name Approval: The company name must be approved by the Company Registry. The name may be provided by the client, selected from a list of approved names held in our office. In case the client selects the name, it is better to provide an alternative name is case the first option is rejected.
- Filing in Company Forms: After the name is approved, all necessary forms must be submitted to the Companies Registry for registration.
Memorandum and Articles of Association
Every Cyprus limited liability company must have a Memorandum, which specifies the activities in which the company may engage and Articles of Association, which specify the regulations and procedures of the company. This will be appropriately drafted on our being supplied with the activities of the company.
Prior to the submission of the registration forms to the Company Registry, the director, secretary, share capital, shareholder and register office of the company must be determined
Share Capital
There is no legal requirement as to the minimum or maximum share capital of the company. A paid up capital of minimum Euro 1,000 is advisable.
Directors
- The minimum number of Directors is one. As director/s may be appointed any natural person, Cypriot or foreigner, or and legal person, incorporated in Cyprus or elsewhere.
- Our office provides nominee Directors
Secretary
- By Law, the company must have a Secretary and in almost every instance our office acts in this capacity
- It is irrelevant whether he/she is an EU citizen.
Shareholders
- It is irrelevant whether the shareholder(s) is/are EU citizen(s). In case the Company is registered for the purpose of obtaining Work Permit, then the requirement set out in the ‘Work Permit for Executive Directors’ brochure must be fulfilled.
- Our office provides physical or corporate nominee shareholders that hold the shares under a Trust Deed on your behalf.
Registered Office Address
- It is a requirement of the Law that a company must have a registered office in Cyprus, which may be used as the business address of the company. The registered office address is the place where official documents can be served to the company. This can also be provided by our office.
In order to start the procedure and register a company, the following documentation is required by the client:
- Passport Copy
- Proof of Residential Address (for example, a utility bill)
- Contact Details (correspondence address, email, telephone number etc)