Cyprus is the perfect location for incorporating an offshore or private company due to its simple incorporation procedures and agreeable tax structure. Below are the steps to company formation, the registration procedure, and all documentation required for incorporation:
Who can incorporate a private company in Cyprus?
The Republic of Cyprus is a free market economy providing vast opportunities for international business and efficient tax planning, ideal for forming a company. Cyprus has quickly gained a reputation as a reliable, legitimate offshore jurisdiction, and is universally accepted as the most beneficial tax system in the EU; making it the perfect location for incorporating a company of any type.
To conduct a business in Cyprus you can choose any of the following legal corporate forms: a Private Limited Company, a public company, or a Company Limited by Guarantee. Any administration is regulated by the Cyprus Company Law Cap.113 and supervision is exercised by the Registrar of Companies. The benefits of incorporating your company as opposed to remaining as a Sole Trader are varied and extensive. All physical persons are entitled to incorporate a company in Cyprus and can do so with the help of a Lawyer or service provider.
Process involved with company incorporation:
1) Firstly you need to choose a competent Lawyer or Service Provider.
A Cyprus Laywer licensed by the Cyprus Bar Association is needed to prepare and sign your company’s’ Memorandum and Articles of Association and the declaration form. Alternatively we would suggest to hire a service provider who can help you with as many steps or as little as you require. The relevant fees for incorporation vary depending on your Service provider of choice. Read more about Cyprus company registration services.
2) Checklist of documents required to incorporate a company in Cyprus:
The documents required for the incorporation of a company of Private Limited Company or Private Company are listed below. Generally once these forms have been filled out the procedure of incorporation is relatively straight forward.
- Declaration of company incorporation (also known as the HE1 form).
- Registered company office address, (HE2).
- Particulars of the Shareholders, Directors and Secretary (HE3).
- Memorandum and Articles of Association.
3) Information which you will need to fill out the registration forms:
- The addresses and passport details of the proposed Directors and Secretary of the company.
- The proposed registered address of the company.
- A utility bill to act as proof of residency.
- A recent bank reference letter/statement.
- The amount of nominal share capital (i.e. €1000) and how it is divided (i.e. 1000 shares of €1 each). If your company is a public company there is a minimum share capital of €25.650.
- The proposed business address of the company.
4) Choose a name for your business.
You can see if your chosen name already exists in Cyprus here, then this is submitted to the Registrar of Companies. Depending on the workload of the Registrar, the company incorporation procedure can take up to one month. This procedure can be reduced if a name is chosen from a list of pre-approved names which we can provide for you, click here to contact us.
5) Your certificate of incorporation will arrive in no longer than one month.
Once all documents have been approved, the incorporation process usually takes no more than one month to complete, once the delivery of the Cyprus offshore company has been confirmed and the Apostille certificate has been delivered by courier declaring a legitimate offshore business!
The incorporation certificate for a Private Limited Company or otherwise generally states the date of incorporation, the company name and other details which are required for the official verification that all businesses and legal entities will require as proof for trading, buying shares and other business processes. All information supplied in the incorporation documents above will be available for the public to find such as the date of incorporation and registered address.
We have local representatives on hand to answer any questions you may have about registering a company in Cyprus. Please contact us to find out more.