Registration of Companies in Cyprus by Marios Hartsiotis & Co
The registration procedure is very simple and fast. It can be completed within the period of one to three weeks. However, our law firm has available for sale in advance registered, off-the-shelf companies. The name of the company can be changed later if necessary. In this case, a company can be established in just few days.
Requirements for the incorporation of a Cyprus company
1. Company Name
The name for a company is to be chosen and approved by the Registrar of companies. The procedure takes usually 2-4 days and it must not be similar with the name of an existing company. Our firm always has a list of approved company names if you wish to accelerate the registration process.
2. Memorandum & Articles of Association
For registration of a Company the Memorandum and Articles of Association must be prepared and submitted to the Registrar of Companies. The company’s activities must be indicated in the Memorandum of Association and the provisions regarding the internal regulation in the Articles of Association.
3. Registered & Issued Share Capital of the Company
The legislation does not contain requirements in respect of minimum capital.
The details of the first shareholders (minimum one for a limited company) of the company are needed. Details include the full names, residential and business addresses, citizenship, date of birth. Further a copy of their passport and a recent utility bill needs to be provided.
5. Directors of the Company
The minimum number of directors (limited company) is one. The same details and documents as for directors are needed.
6. Secretary of the Company
In accordance with the legislation a Cypriot Company must have a secretary and that can be a natural or legal person, resident or non-resident of Cyprus. Our law firm can provide a secretary.
7. Registered Office
Each company is obliged to have a registered office and address in Cyprus, which the Registrar of Companies is to be informed of. We can offer this service.
8. Financial Reports
Each company shall keep Accounting records and must file audited Audited accounts not later than eighteen months from the registration of the company and thereafter annually not later than 12 months after the end of year. Our company is able to provide our clients with this service.
9. Annual Report
The secretary of the company is obliged to submit the Annual Report to the Registrar of Companies accompanied by the financial statements. Such report is to contain the summary of the aforesaid information relating to the company’s shareholders, share capital, director and secretary. The first Annual Report must be filed not later than eighteen months from the registration of the company and thereafter annually at the end of year
Meeting of the company are not necessarily to be held in Cyprus but is advisable that meetings will be held in Cyprus as well the directors or at least the majority of director are Cyprus residents in order that management and control of the company to be exercised in Cyprus and thus the company to be taxed in Cyprus.