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Cyprus company formation fees
Posted by peter in Cyprus Company Formation on October 1, 2009
Options are always there for people who would want to give them a try no matter how risky the options may be. For example there are options for cheap bullet-proof vests, cheap parachutes, and cheap brain surgery services. The question to ask however is; can you go for these options. For reputation and name sake, it may be difficult for one to go for some options. The price will definitely reflect on the reputation and reliability of an offshore company. to register an offshore company by employing the most knowledgeable and experienced personalities to keep up with the latest legislative developments, maintenance of reliable quality control and a robust data security strategies.
Cyprus company formation fees include Cyprus company formation or registration fees which stands at United States dollars 1.975. However a ready made shelf companies goes at USD 2.375. The registration fees include Power of Attorny (POA), Memorandum of association and articles and registration certificates, official company certificate and apostilled registration document and shareholder certificate.
After the company has been set up, further payments are to be made in different lines annually. The lines include company secretary which is required by the Cyprus company formation law and rates at USD 525.00; registered office as is required by law of USD 525.00; nominee directors’ fee of USD 525.00 per nominee carried out by the business corporation; nominee shareholder’s fee of USD 525.00 per nominee, foreign nominee shareholder fee of USD 525.00 per nominee; and foreign nominee cost of USD 525 Per nominee. It is important to note that nomination of both foreign and internal shareholders, directors is optional.
Once all the required information and costs have been settled, Cyprus company formation will take between one to two weeks duration to fully incorporate a company. however if you go for companies on the shelf, you are required to wait for one day to get started with your acquired company documents and other necessary requirements.
Cyprus company formation’s accounting records are usually kept by all companies in its territory as is required by the law. Financial statements must also be submitted to the Inland Revenue and registrar of companies within its boundary for auditing purposes. All the companies under its jurisdiction are required by law to pay 10 percent TAX on all profits, however if the company is registered by IBC no tax is charged.
Unlike other companies, Cyprus company formation demands passport or any picture ID copy, phone or electricity utility bills usually presented in English, and an n agreement sent on request to the client.
Finally it is worth noting that the cost of annual accounts preparation for the company depends on the amount of transactions made on your behalf. These services are providing by practicing accountants and auditors who are offering these services at affordable rates. Apostilling of the documents outside the country will cost euro EURO120 due to foreign bank requirements. All the proceeding payments for offshore company address and secretary are set at euro EURO690.
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.
How To Register A Company in Cyprus
Posted by peter in Cyprus Company Formation on September 29, 2009
Registering a company in Cyprus can be quite simple especially if you follow the correct procedure and provide all information that will be needed. Business registrations in Cyprus do not take a lot of time too and may take less than ten days to complete. The process is quite clear and you will be told all the documents you need to provide. To register offshore company in Cyprus you can find a suitable person or company that is experienced to help you.
The first thing you need is a business name which you have to apply for. The name has to be approved and has to adhere to the guidelines that have been set for all business names in Cyprus. You will be required to give at least three suggestions of names to the Registrar of Companies. Important is that it be unique and not to look like that of an existing company.
After you have a name for your business you can proceed and have all other required documents such as the Memorandum of Understanding and Articles of Association. It is important that you decide which type of business you want to operate since you will have to give a detail of all the activities the business will be carrying out. Have clear objectives for your business proposal so you can improve the chances of your application being approved.
Provide information for share capital as required as well as shareholders and their number of shares that will be issued. The rule is that the share capital for all business be expressed in Cyprus pounds. You must have some shareholders for the company because it is required that each company should have at least one shareholder. Each of the shareholder’s bank reference information is also a requirement.
It is also mandated that you have registered offices to register offshore company in Cyprus since the address will be needed. Mandatory too is for all companies to have a company secretary who will be appointed and the details provided to the registrar. You will also obtain a tax number that will be used in all your company invoices when the business starts to operate.
With all these information ready and given to the Registrar of Companies in Cyprus, you only have to wait for the approval notice. The registration is completed after you obtain the necessary certificates for the business. If your business requires VAT, you will also require registration for it where you will fill out a form F.P.A 101. With the business certificates; Certificate of Incorporation, Certificate of Directors and Secretary, Certificate of Registered Office, Certificate of Shareholders and the Memorandum and Article of Association, you can then register for income tax.
Other business registrations include obtaining work permits depending on the type of business you are opening as well as registering with the Employers Registry. However, there are fees to be paid in order to register offshore company in Cyprus which must be paid for any application to be processed.
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 indivudals worldwide, no need to visit Cyprus.