Posts Tagged company cyprus
The day has been born for those who want to form a Cyprus company in this part of the world. The present tax regulations regarding external companies set will now be applied on companies based on the place they are managed and not their area or location of registration. Most importantly, corporations handled by external investors will have their business revenue taxed by based on the legislation governing foreign corporations.
Therefore, in Cyprus company formation, you must be pressed to note this crucial information;
Any name in the formation of a company has to be written is a language carrying a Latin word or in Greek and it doesn’t matter where its location of incorporation is based. Some of these words will never be accepted; asset manager, bank, assurance, asset management, currency, credit, dealer, deposit, exchange, banking and future among others. Ensure you are on the safe side always so that you end up saving time and money in the formation process.
Your company must have at least a director in order for your company to be registered. This may include both the corporate entity as well as an individual; note that its note they may be external residents and not necessarily Cyprians.
Its imperative that corporations formed should have a physical address and an office to carry out its duties. A fee is normally paid so that you acquire an office.
For you who are hoping to establish a company, the lowest share you need to raise stands at USD 1000, this don’t need to be paid up capital. This is the standard charge stipulated in the Act that every individual or corporation has to meet before his company is considered for incorporation.
It’s also important for a company to have a secretary in this zone; this too can be a body corporate or just a person. This secretary also carries a fee on his head which must be remitted before registration.
Cyprus company formation will not be termed complete if it fails to match with any tax number. Every invoice document must bear the number when the registration of the company is completed.
The tax department will always require that you provide clearly audited records of your company’s financial dealings on a yearly basis. It’s important to ensure you do not fall on the dark side of the law. Incase you request auditors; there are reputed auditors who have performed their work in the most professional way over time.
Some of these services will come your way if you become one of the owners of companies in this gorgeous location. These services may include incorporation of external corporations, a complete office of operations and general company formation at very competitive rates.
Most importantly, note that charges placed on the preparation of yearly records depend how much transactions you have undertaken in the trading period. There are fully qualified accountants and auditors who are known to help you get you company incorporated. For you to be more successful, prior information is very important for both of you; the service agency and yourself.
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.
Cyprus provides opportunities for people to register companies they are interested in for both offline and online businesses. Established companies may also wish to expand by opening a company in Cyprus that will be operating online too. You only have to register the company before you can be allowed to operate. The benefit with forming a company in Cyprus is that it allows full ownership to foreigners apart from the fact that corporate tax rates are considerably low at 10% and this has attracted many individuals and corporations who wish to register Cyprus Company.
All companies in Cyprus require registration so do the online businesses. You can decide to make your application online but the information needed is more or less the same. You will be required to provide contact and company details as well as a summary of the activities the company is intended to perform. When it comes to the director details, specify whether it’s an individual, corporate or nominee and the title to be used. You will also give the names and address information as well as the country of residence.
Other information needed to register Cyprus Company is the secretary, beneficial owner details and all shareholders’ details. For the shareholders, the number of shares to be issued will have to be specified. After you provide all the information and make the required payments, you can wait for the application to be accessed for approval which only takes a few days. The whole process can be facilitated by an online solicitor especially if you don’t want to go all the way to Cyprus to take care of it or when you are not sure how the system functions.
Since it is an online business, you should have a ready website from where you will be operating or where your clients can get you. The website will have the company name and address as well as the terms and conditions to be applied if sales are to take place over the internet. You will need a Cyprus business bank account too which will enable you carry out financial activities through the internet for your online business. The banking system in Cyprus is well established and this is probably because the area is popular with investors who will need banking.
Your online Cyprus Company must comply with all the rules for online companies in terms of security for client details especially when payments will be made using credit card online. You must guarantee that the credit card details for all your clients will be secured and state the security measures you have in place to make the business a trusted website.
Your business must also operate within the limits in which the company was registered for. If you intend to register Cyprus company that the authorities consider belongs to a business field already saturated, your application may be rejected hence you may consider doing some research on the kind of businesses that are best to form at the moment.
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