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Cyprus Company Formation – What you Need to Know

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If you’re interested in the idea of Cyprus company formation but feel you don’t know enough about it then please do read on as we share with you some of the key points regarding the process of forming a company within Cyprus. While it may seem complicated, and of course we can’t cover all the intricacies of setting up a Cyprus company in this article, you can rest assured that should you decide that this would be a good route for your business to take, our expert team is on hand to guide you through every step. With many years of knowledge and experience, we can ensure that your company formation fully adheres to all laws, rules and regulations, and that it is completed in the shortest possible time.

You’ll need a name

First your new company will need a name. This name needs to be unique and has to be formally approved by the Company Registrar. The name must be in either English or Greek, and if it is in Greek, an English translation of the name must also be provided. The company name must end in either LTD or LLC. Only once your company name has been approved can you begin to legally form your company.

Directors and other appointed individuals

To form a company in Cyprus, a minimum of one director is required. That person may be of any nationality and there is no legal requirement for the director to reside in Cyprus. There must also be one shareholder, however, a director can also serve as a shareholder and again there are no restrictions with regards to nationality. They may be an employee of the company also, taking a monthly wage. Your Cyprus company will also require a secretary, however again, there is no legal requirement for the secretary to be based in Cyprus. If a shareholder owns the company, then it is permissible for the secretary and director to be one and the same person.

Making the most of the benefits of Cyprus Company Formation

There are many tax benefits included when you form a company in Cyprus. It’s vital that you know how to take advantage of all the benefits that are available to you or you could miss out on some lucrative benefits purely through lack of knowledge of their existence or failure to apply for them in the correct manner. Our tax and accounting experts are on hand to ensure your business makes the very most of being located in Cyprus. We know the tax and banking and legal systems in our country incredibly well so you can rest assured that your company formation and the running of your Cyprus company will be making the most of everything on offer, while keeping within the law and ensuring you have all the required details to keep your accounts in the correct order, all ready for renewing your application when the time arrives. You’ll find our staff friendly and helpful so do get in touch and find out how we can help you on your way to Cyprus company formation, and be there for you when your company is up and running.

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