Cyprus is one of the better places for the investment in offshore and has many tax reduction choices for the Companies. Cyprus offers a various range of options to the Companies who are willing to establish their offshore branches and being a part of the Cyprus Company Formation. The law of Cyprus provides more flexibility for the investors and it is situated at junction of the Africa, Europe and Asia.
Cyprus is famous for its tax incentives and has double-tax agreements with twenty seven countries and major Western ‘high-tax’ countries. This is a very uncommon feature which has made it a perfect place to invest or start a new company. Also, the location of Cyprus in between in the best trading nations in addition to the international ports and international air ports available for the export and import of goods or material from other countries to Cyprus and the manufactured product from Cyprus to other international market is very easy. These are the reasons why many IBC’s are planning to start a unit or a branch unit in the island of Cyprus.
Companies should follow the rules and regulations framed for the registering it in government of Cyprus. Some of the important steps that should be followed during registration are:
Companies should specify two or three names to the Registrar of the Cyprus Company Formation for the approval. Some of the private firms have already registered names. If there is any company registered with the same proposed name, you should change any letter for the security reason and to prevent the duplicates.
The Companies should specify the Share Capital to the Cyprus Company Formation. The objectives should deliver during the registration in order to prepare the Memorandum and related Articles. It helps for the documentation works and registered in both English and Greek Languages. The Companies should apply to the Central Bank for the approval of the Fund Exchange Control.
Companies should have shareholders and should submit during the time of registration. There is no range for the number of shareholders and it depends on the economic condition, activities performed and the duties carried out by the Offshore Company.
Registered Office Address is a basic requirement during the registration on the Company. It can be handled by the Private Companies who has the registered address. It is mandatory since, the documents are forwarded to the stated address.
Every Company should have Directors and Sectary in order to manage the International Business Companies. The Secretary should belong to local private firms, so that the companies can have better legal advices and guidance.
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