The Cyprus island is located near the cross roads of three continents Asia, Europe and Africa at the Eastern Mediterranean. The climatic conditions are pleasant with mild winters and hot summers with Mediterranean dry climate. Cyprus became independent since 1960 and it has Presidential government system. The government structure is similar to the western democracies of other countries, in which human rights, private property and political freedom are safe guarded. Telecommunications, Port and Air connections are excellent.
How to Register Cyprus Company?
An IBC can be resident or non resident of Cyprus, that is it can has control and management in Cyprus or outside respectively. According to the respective wishes an IBC can work from a well settled office with much number of staffs or it may have the registered office in local.
The application procedure is as follows:
• The registration can be done with an aid of an agency.
• The questionnaire or the application form should be filled and sent to the agency by fax or email to the agency.
• Various documents are received as proves they are, photo copy of the shareholder’s passports by fax and also bank reference for each individual share holder. From their appropriate banks the bank reference letters should be enclosed along with proposer’s questionnaire.
• The passport original copy and the reference letter from the bank should be couriered to the agency.
• Then from the agency the Proposed Company’s name will be sent to Company registrar for approval. The duration for this step will be about 2 to 4 days. If this approval should be done earlier then the company will provide approved names of the company in a list from where it can be selected.
• When the company name is approved by Company registrar, the articles and the memorandum of the company are prepared and this is submitted to Company registrar for registration.
The Important Points Are
• Certain brief information about the activities taking place in the company for preparing memorandum and articles of the company should be known.
• Minimum of one shareholder is required. The shares can be held by a nominee or trustee, if anonymity is required. A Director who may be foreign or local is required.
• A secretary should be appointed for the company and the address of the registered office in Cyprus should be specified.
• The registration procedure can be completed within the duration of 8 working days and if a company name is approved then it takes only 5 days for the procedure completion.
Cyprus Company Formation for clients worldwide
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