Register Cyprus Company, Cyworld Group Of Companies Cyprus, Cyprus Offshore Company , Offshore Company Formation and Incorporation, Shelf Companies,  Ready made companies, Cyprus Lawyers, IBC and Company Incorporation in Cyprus

Cyprus, Company, registrar, register, companies, registration, offshore, formation, incorporation, holding, International, Business, lawyers, accountants, tax consultants, Ready made, Accounting, Legal, IBC, Cyworld, Cyprus Law, Cyprus Advocates,  legal consultants, Offshore Companies in Cyprus, Ready Made Company, Shelf Companies, Incorporation of IBC's, Nominee Services, Company formation, Anonymity, Bank Accounts, VAT Registration, EU, Virtual Offices, Serviced Offices, Worldwide Tax Planning, Cyprus Bank Account, TAX and VAT registration

Company Incorporation

Company Incorporation

There are three types of businesses that can be incorporated in Cyprus:

  • An International Branch of a foreign organization
  • A general or limited liability partnership
  • A limited liability company including a Cyprus holding company

A Cyprus holding company is a legal entity that can be used as a vehicle to make investments in Cyprus and abroad, to acquire properties and provides the most efficient tax planning structures.
Cyprus, probably the lowest tax European jurisdictions, is a suitable place for locating an intermediary company due to the island`s combination of tax treaties and low-tax regime.
Unlike other countries in Europe, a Cyprus Holding Company must only hold at least 1% of the share capital of a foreign subsidiary in order to receive the tax benefits.
If the management and control of the business of the branch is not in Cyprus, the profits of the branch are exempted from all taxes.
Otherwise, if the management and control of the branch is in Cyprus the profits are taxed at the rate of 10%.
The branch enjoys all advantages extended to all international business entities.

Registration Requirements and Procedures
For the incorporation of a Branch of an overseas company the following documents need to be filed with the Registrar of Companies. Such documents must be certified by the Registrar of Companies or by a director of a company as true copies and legalized by an Apostil or Notary Public and translated in Greek.

  • Certificate of incorporation of an overseas company
  • Memorandum & Articles of Association of the overseas company
  • Particulars of directors and secretary
  • Name and address of at least one person resident in Cyprus authorized to accept on behalf of the company any notices required to be served on the company
  • The name of the branch is the same with the name of the overseas company.

The main advantages of offshore companies are:

  • Anonymity
  • Nominee services
  • Protection of your privacy
  • Limited liability without any paid up capital requirement. (Request more information about this).
  • Strong legal tax benefits, through the double-tax treaties scheme
  • Low taxation on almost any kind of income
  • Reasonable accounting requirements

Under the Companies Law, Chapter 113, foreign companies may register a branch in Cyprus. The registration procedure is again essentially the same as for companies. However, as an additional requirement, every overseas company wishing to establish a branch in Cyprus must file with the Registrar of companies, within one month of establishment the following documents:

  1. Certified copy of the Memorandum and Articles of Association, or the charter or other instrument defining the constitution of the company.
  2. Particulars of directors and secretary of the company.
  3. Name and address of at least one person resident in Cyprus who is authorized to accept service of notices on behalf of the company.

With regard to the certification of the above documents, experience has shown that the documents must be legalized and “Apostil” in the country of origin by a notary public. Alternatively, legalization is required both by a notary public and the Consul of the Republic of Cyprus in that country.

Incorporation of a Branch
In the case of international business companies and partnerships, it is advisable that the manager of the branch and the overseas company are provided - upon the registration of the branch - with a full set of documents, properly legalized and translated, where appropriate, into English or any other language.

In the case of a branch such documents normally comprise:

  • Certificate of incorporation
  • The charter of the overseas company or other instrument defining its constitution
  • List of directors and name of the person authorized to accept notices
  • Letter heads, invoices and other branch stationery
  • Any other information and documentation pertaining to the activities of the branch to the date of its registration.

This form of legal entity is less popular for international operations, although in some cases it may have certain tax advantages and uses.

Partnerships are governed by the Partnership and Business Names Law, Chapter 116, which is similar to the equivalent English Legislation.

The procedures for registration have been designed to make this process as simple as possible and results from the submission of the required return, which must be written in Greek and must set out among other things, as well the following information:

  • The name of the partnership
  • The objects of the partnership
  • The proposed duration of the partnership
  • The names and addresses of contemplated partners
  • The extent to which partners are authorized to bind the partnership

In Cyprus a distinction is drawn between two types of partnerships, namely general partnerships and limited partnerships. In general partnerships, all partners have unlimited liability. In limited partnerships some of the partners have unlimited liability while the liability of the others is limited to the extent to which they have contributed to partnership capital.

The procedures for the formation of a partnership are relatively straightforward and consequently the registration can be done quickly. All formalities, including the opening of bank accounts, printing of stationery and finalization of other miscellaneous matters, can usually be completed within one week. The Registrar of Companies will ensure that the required Certificate of Registration is issued without delay.

Partnership profits are taxable in the hands of the partners or the partnership (in Cyprus for Cypriot tax-resident partners).

Registering a Partnership
It is advisable to ensure that the partners are provided with full partnership documents upon the registration of the partnership. These documents should be properly legalized and translated - where appropriate - from Greek into English or any other language.

These documents normally comprise:

  • Certificate of registration
  • List of partners and their authority to bind the partnership
  • Letterheads, invoices and other partnership stationery
  • Any other information and documentation pertaining to the partnership’s activities to the date of its establishment.