The Cyprus Company is governed by the provisions of the Cyprus Companies Law, Cap. 113 as amended, which is based on the English Companies Act 1948.
Cyprus is a member of the European Union since 2004 and a reputable international business centre for over forty years.
The Cyprus Company, with its European diversion, is the ideal location for business to and from Europe. The geographical location of Cyprus, which is between three continents, creates the best environment for transactions from all over the world.
Cyprus has signed a considerable number of Double Taxation Treaties with various countries to avoid the double taxation of income earned in any of the two contracting states.
Cyprus tax resident companies have one of the lowest taxation in Europe (12.5%) on their net profits. In order for a company to be a Cyprus resident, the management and control of the company must be done in Cyprus. For this purpose, it is advisable that the majority of the Directors of the company must be Cyprus residents and the meetings of the Board of Directors should take place at the registered office of the company on a quarterly basis.
Dividends of a Cyprus company payable to its foreign shareholders are not subject to any taxes in Cyprus.
An international business company in Cyprus may perform a wide range of activities such as holding and investment, trading, service, shipping, finance, royalty, real estate and property.
Requirements of a Cyprus Company and registration procedure:
It takes around one week to incorporate a private limited liability company by shares.
Name of the Company: It takes approximately three days to approve a name with the Registrar of Companies.
Share Capital: The capital of the company can be in any currency. There is no minimum amount of capital. There is a stamp duty of 0.6% on the authorised share capital.
Shareholders: Minimum one shareholder either physical or legal entity. Nominee shareholders can be provided who hold the shares in favour of the ultimate beneficial owners of the company through a Trust Deed. The use of nominees creates absolute secrecy of the identity of the shareholders of the company.
Directors: Minimum one director, either physical person or legal entity.
The services of Registered Office and Secretary are also offered by our firm.
The Cyprus Company must be registered with Cyprus Tax Authorities and it is a statutory requirement for a Cyprus company to prepare audited financial statements and to submit the same to the Department of Inland Revenue and to the Registrar of Companies on an annual basis.
Ready-made, Shelf companies:
On specific circumstances, such as an urgency situation, our clients may wish to bypass the procedure of the incorporation of a new company and to purchase a ready-made, shelf company. These are companies already registered by us, which have never done any transactions and have no obligations and liabilities to third parties.
Our clients can choose a ready-made company from our lists of shelf companies, according to their requirements. Such lists will be given upon request.
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