Why Cyprus?
Cyprus is a place located in the Eastern Mediterranean exactly at the cross roads of the three continents namely Asia, Europe and Africa. It has both hot and cool climates. The area covered by Cyprus is about 9251 sq. km. Some of the languages that are spoken in Cyprus are Turkish, Greek and English. Many business companies are being established in Cyprus. Cyprus government has framed a law such that it permits the formation of many business entities. Cyprus branches of foreign companies, limited partnerships, private companies limited by guarantee, private companies limited by shares are some of the companies that are formed in Cyprus.
The reason why millions of business men have chosen Cyprus for establishing an international business company is because of its better tax planning. Cyprus will never offer brass plate companies. Greater tax incentives are offered by Cyprus because of its worldwide network of double tax treaties and also because of its favorable tax regime.
Specialty of Cyprus
Excellent air and port connections and telecommunications are available in Cyprus. Paphos and Larnaca are the two international airports available in Cyprus. It also has its ports which are located in Larnaca and Limassol. Cyprus may be regarded as a free enterprise economy. Apart from airport and port facilities, excellent bank facilities are also available in Cyprus. Both offshore and onshore banks are available.
Steps involved in registering a company in the island of Cyprus
• Application procedure for formation of an IBC
• The application form should be filled completely and mailed to them.
• The proposed share holder’s passport and bank reference (photocopy) should be sent to them using fax.
• Next the number of companies who proposed their names will be taken to the register of companies for approval. This generally takes about two to four days.
• After getting approval from the register of companies, the articles and memorandum of the association of the company are need to be prepared and should be sent to the register of companies for registration.
• To enable drafting, a detailed description about the main activities of the company is required.
• Some of the conditions includes that there must be a minimum of one share holder, at least one foreign or local director, etc.
• Finally a company secretary should be appointed and also the address of the registered office should be specified. These specifications are required by the law.
Certificates required:
Once the company is registered in the register of companies, some of the documents and certificates should be produced. Some of them are mentioned below:
• Certificate of share holders
• Certificate of directors
• Certificate of registered office
• Certificate of incorporation
• Declaration given by the nominee share holders
Cyprus Company Formation for clients worldwide
to register a Cyprus Company isn’t any difficult, we have specialized in the Cyprus Company formation and the opening of Cyprus Bank Accounts for businesses and individuals worldwide, no need to visit Cyprus.
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