Cyprus registration formalities for a company
Cyprus has provided a great basement for many companies to be in a successful pathway. Its population consists of 770, 000, with Greek-Cypriots and Turkish-Cypriots of 78% and 18% and remaining 4% of minorities. English, Greek and Turkish are the languages used by the people in Cyprus. Among these English is the major language used widely, which helps very efficiently in business sector. Excellent mode of communication by Air and Port connections are available for the companies to make use of. It also provides efficient banking facilities.
How to Register a Company?
• It can be registered through agencies which are now available in large number.
• The proposal is sent by the agency to Registrar Of Companies.
• First, the application should be filled and submitted to the agency.
• The required documents mentioned should be disclosed along with is, that is photocopy of shareholder’s passports along with the bank reference letter.
• The proposed company names are submitted to the Company registrar which takes two to four days.
• If an approved name is selected then the duration can be reduced for registering.
• As soon as the company name is approved the articles and memorandum for the company is prepared.
Important Points:
• A brief description about the activities taking place in the company should be provided to prepare articles and memorandum.
• At least one shareholder is required.
• At least one director is required for the company who may be foreign or local.
• A registered office address in Cyprus must be specified as well as a secretary is needed for each company.
Administration:
Records should be maintained by each company in Cyprus and also the yearly audited statements should be submitted to Company registrar and Inland Revenue.
Following documents are produced following the registry of the company:
• Articles and memorandum of the association is prepared in the language of Greek or it can be translated into English also.
• Incorporation, shareholders, director and registered office certificate are provided.
• Signed share transfer documents and signed resignation letters which are undated is provided to the nominee.
• The shareholder’s declaration of the trust is a must.
• The Deed of Indemnity is also provided in this. The owners indemnify the nominee for their actions.
Bank Accounts:
The bank accounts can be opened for the company by submitting the photocopy of above documents, with the owner’s passport copy, with the bank reference letters and also the bank account for the company can be opened in any part of the world.
Thus it provides a great efficiency in opening a company in Cyprus.
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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