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PKF Cyprus

A member of PKF International. A global family of legally independent firms.

Cyprus Company Formation – Steps

 

CYPRUS REGISTERED COMPANY SET UP –  PRACTICAL STEPS

Cyprus company incorporation form

  1. Name

The approval of the name of a Cyprus registered company can take up to five working days.  The general principle of the name should be such that a similar name does not exist; the name is not too general and does not contain words such as international, group, etc.

  1. Share Capital

We suggest that the minimum share capital of a Cyprus registered company is €1.000 for the type of company you require.

  1. Shareholders

Each Cyprus registered company must have as a minimum one shareholder. If the shareholders are more than one, you have to decide on which portion you wish to divide the shares. We need full names, address, nationality and the proportion of holding as well as the documents referred to in paragraph 5 below.

  1. Directors

Each Cyprus registered company must have at least one director. For each registered director, we need his full name, address, and nationality as well as the documents referred to in paragraph 5 below.

  1. Documents required

5.1. Bank reference

For each shareholder and registered director, we require a bank reference the text of which should approximately read:

Quote

To:  ………………….

……………………………Cyprus

We confirm that Mr. or Mrs. ………………………    has been our client for more than a year and that he/she carried out his bank account transactions in a very satisfactory manner.

Mr. or Mrs. ……………………… has proved to be creditworthy, respectable and of good financial standing.

Unquote

This reference must be in the original form and will remain confidential.

5.2. Curriculum Vitae (CV)

C.V. of all beneficial owners and registered directors and their respective addresses.

5.3. Passport

Copies of the passports of all beneficial owners and registered directors.

5.4. Proof of Residential Address – Utility Bills

Copy of the most recent electricity, or water, or gas, or telephone bill, both from beneficial owners and registered directors.

5.5. Companies, Investment Funds as beneficial owner

In the case where the beneficial owner of the cyprus registered company is a company, then we require the following:

  1. Full set of registration documents.

  2. Group structure.

  3. Bank reference and proof of residential address (see 5.1 and 5.4 above) for the company and its ultimate beneficial owner.

  4. Latest available audited financial statements.

5.6 Trusts as beneficial owners

In the case where the beneficial owner of the Cyprus registered company is a Trust, then we require the following:

  1. Full set of registration documents. (ie Trust Settlement etc)

  2. Group structure.

  3. Bank reference and proof of residential address (see 5.1 and 5.4 above) for the Trust, the Settlor, the Trustee and all of the beneficiaries of the Trust.

  4. Latest available audited financial statements of the Trust (if any)

International and Cyprus bank accounts

You may open in any currency a Cyprus bank account or an international bank account.

Cyprus taxation

The Cyprus registered company’s net profit after all expenses is subject to 12.5% Cyprus income tax. Subsequent dividend paid to non-resident shareholders is free from any further Cyprus taxes.

Duration

It will take approximately eight working days to register a company in Cyprus.

Cyprus company formation form

For setting up of a Company in Cyprus or to receive a quotation please download and complete the ” Cyprus company formation form” above and send by email to [email protected]

RELATED CYPRUS REGISTERED COMPANY SERVICES WE PROVIDE (OTHER THAN CYPRUS COMPANY INCORPORATION):

  1. Cyprus bank account. Opening of a Cyprus bank account
  2. Through our affiliates, we can provide secretarial and administration services.
  3. Through our legal services division, we can assist in document preparation, contracts, etc.
  4. Trust formation and administration.
  5. Alternative Investment Fund (AIFs) formation and administration.
  6. Cyprus banking administration services and opening  of a bank account,
  7. Cyprus citizenship (Cyprus passports) and work permits. Obtaining Cyprus citizenships (Cyprus passports) and work permits for expatriates

Contact us

Please contact us for a free personal consultation for setting up a Cyprus company. All information will be treated in the strictest confidence. We are happy to sign a Non-Disclosure Agreement (NDA) or any other legal safeguards.

[email protected]

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The authors expressly disclaim all and any liability and responsibility to any person, entity or corporation who acts or fails to act as a consequence of any reliance upon the whole or any part of the contents of this publication.

Accordingly no person, entity or corporation should act or rely upon any matter or information as contained or implied within this publication without first obtaining advice from an appropriately qualified professional person or firm of advisors, and ensuring that such advice specifically relates to their particular circumstances.

PKF Cyprus firms are member firms of the PKF International Limited network of legally independent firms and do not accept any responsibility or liability for the actions or inactions on the part of any other individual member firm or firms.