What you need to know in brief for the Incorporation of your Company:
Requirements for Registration – both legal and our office requirements:
NOTE: In order to commence the procedure for the incorporation of a Cyprus company it is necessary to consider the following information as you will need to provide us with this information prior to us commencing the process of incorporation:
Firstly you need to suggest two or three alternative names, which will then be submitted to the Registrar of Companies for approval. If the company name that is about to be formed already belongs to a group of companies operating abroad under a similar name, then a letter of consent from those companies is required. It is advisable to make the names distinctive as ordinary names or names which are too similar to other company names are likely to be denied.
Alternatively, our company has a list of already approved names, one of which can be chosen. The list of available names can be provided on request.
The main activities of the company must be provided so that the Memorandum and Articles of Association can be drawn up for submission. The objects of the company can be of any nature.
Every company should have at least one shareholder. If the beneficial shareholders require complete anonymity, then our own nominee companies can be used to hold the shares in trust without the names of the beneficial shareholders being disclosed publicly.
If the beneficial shareholders do not need anonymity, then the shares may be registered in their names and they will therefore appear on the corporate documentation as the beneficial owners.
A bank reference is required for each beneficial shareholder.
In the case of international business companies, it is important, both from a tax point of view and for administrative purposes, that the management and control of the company are exercised within the jurisdiction. If this is the case, then it is advisable for not more than one director to be appointed from abroad.
Our office is able to provide local directors in addition to the ones mentioned above. These directors will be able to conduct the functions through guidance from the beneficial shareholders, thus ensuring the smooth and timely operation of the company.
Company Law requires that every company has a company secretary. Our office can provide this service through a nominee secretary, provided by one of our nominee companies.
Another legal requirement is that a company has a registered office, without implying that this entails the opening of an administrative office. Our own office address may be used as such.
We will require the beneficial owners of the company to sign an indemnity letter covering our nominee companies.
We will also require the beneficial owners of the company to sign a statement letter which covers areas such as the confirmation that the company will not be used for activities such as money laundering or criminal activities.
We require all of our clients to complete and return this form, it assists us in ensuring that we comply with money laundering requirements as well as the other legal requirements here in Cyprus, it also ensures that our records are complete.
The period needed to register a company is approximately 7-10 days.