|Service||Year 1||Year 2||Additional
|‘Exempt’ Company formation||$5.000||$3,350|
|Formation of the company||Included|
|Incorporation disbursements (incl. courier)||Included|
|Memorandum & Articles of Association||Included|
|First minutes of the Directors||Included|
|Initial Share Transfer||Included|
|Government fee (including filing of initial
register of directors & officers)
|Individual Nominee (Cypriot)||US $380||US $380||POA is not included|
|Corporate Nominee (Belize)||US $200||US $200|
|Individual Nominee (Cypriot)||US $250||US $250||POA is not included|
|Corporate Nominee (Belize)||US $150||US $150|
|Certification of Documents:|
|Certification by Apostille per set or individual||$650||Courier fees additional charge|
|Compliance service charges||USD||Comments|
|Introduction Compliance Fee for New Clients.||US$230|
|Annual Compliance Review||US$120||Charged with June 2016 Company Renewal fee onwards.|
|Compliance Service Fee for all post company incorporation services involving new persons or legal entities.||US$60 – US$120||Price depends on complexity of the case.|
The Tier 1 Investor Visa: are the UK government checking candidates' source of wealth? Evidently not..
One of many legal disputes resulting from the recent infamous Kazakhstan BTA bank fraud case has shed new light on a little-known immigration scheme colloquially known as the golden visa scheme and officially called a Tier 1 Investor visa in the UK; the scheme grants investors residency in exchange for spending £2m in UK bonds or shares through a bank, with applicants eligible for to remain indefinitely, with full citizenship after five years.
EU release list of tax havens & blacklisted jurisdictions for the first time
In an attempt to recover the approximate 600B euros lost within various EU countries to tax evasion schemes each year; the European Union has released its first official blacklist naming 17 jurisdictions that have failed to meet international standards of implementing sufficient regulations and transparency measures.
A beginners guide to filing capital statements in Cyprus
This article details a beginners guide to capital statements; what to include in them, what the figures mean and how to understand and interpret them; avoiding common pitfalls many individuals experience along the way with filing their own.. Capital statements (also referred to as wealth statements) are similar to profit & loss sheets for a company except capital statements are typically used to measure and record an individual’s finances using an official document accumulated on differing dates.
The Cyprus Passport by Investment scheme: at who's expense?
Cyprus Minister of Finance Mr Harris Georgiades released a statement condemning critics of the Cyprus passport by investment programme that has seen raise over €4 billion since the launch of the scheme in 2013 which was implemented to attract foreign investment to mitigate damage in light of the banking crisis.
Cyprus Variable Capital Companies: AIFs
There are two types of Variable Capital Companies in Cyprus; UCITS and AIFS. Read on to find out more about Alternative Investment Funds.
Cyprus Variable Capital Companies: Open-Type UCITS
There are two types of VCCs in Cyprus; UCITS which we will discuss in the following article, and AIFS.
Protection of Nominee Directors from IRD claims for Cyprus client companies
Legislation re Cyprus Tax Residency:
Cyprus Company Law: Responsibility of Directors for the non-payment of taxes
A Company Director, in a company incorporated under the laws of the Republic of Cyprus, may be found liable by the Inland Revenue or Customs & Excise with regarding tax related issues. As per the legislation, the Inland Revenue or Customs & Excise may personally prosecute the Company Directors who are involved in any taxation offence(s) or related financial matters.