Cyprus is one of the leading business hubs for the growing International Business Companies to setup their offshore branch. Cyprus Government provides many facilities regarding taxation and it is the main reason to attract more Companies to become a part of Cyprus Company Formation. The some of the types of IBCs are Cyprus Trading Company, Cyprus Holding Company, Cyprus Investment Company, and Cyprus Consultancy Company.
The high advantage for the companies is the ‘Double-tax agreement’ made by the Cyprus Government and it makes different from the other nations of European and Western States. The Companies has the high liberty in the holding of shares, unlike other countries Cyprus won’t asks for the common shares. The duration for making a company is around 20-30 days.
Also, the geographic location and the availability of ports and air ports for raw material or products import and export needed for the investing company is available more close in the island of Cyprus, many International Business Companies are focusing to open one of their firm or their branch here in the island of Cyprus.
In order to form a company, the International Business Company should register and follows the rules and regulations framed by the Cyprus Government. We will see some important points that should be performed during the time of registration:
Company Name: The International Business Companies should propose the name of the new company to the Registrar for the approval. There is choice of proposing two or three names, so that if the name is already registered, you can get another name without re-registration.
Company Objects and Activities: A detailed description about the activities performed by the Company should be submitted during registration. It helps in the documentation and in preparing the Articles and Memorandum. The Documentation should be done in Greek and English languages.
Company Share Capital and Share Holders: It is recommended to specify the details of the Standard Share Capital of the Company and the shares holding by the respective Company. The share holders can reveal their identity or also can have trustee who are belonged to Cyprus, so that the real share holders can maintain their privacy.
Reference Number and Registered Office Address: The registering Company should hold a registered office address, so that they can receive the documents in that address. The private Companies help in this issue. Another important requirement is the reference number and it helps more in the transaction.
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