1. Cyprus Companies

2. ACQUISITION/INCORPORATION OF A CYPRUS COMPANY
Option 1: Set up a company from scratch
Option 2: Buy a holding company ‘off the shelf’

3. Option 1 Takes 5-10 working days
You can request a specific name (but delays are possible if the requested name is rejected from the Cyprus Companies Registry)
Can have specific objects, i.e. what the company shall be doing (such objects have to be specific, but they can be very wide, i.e. going for pages and pages)

4. Option 2 Ready on the same day
But the name will be random and the objects will be those of a general holding company
If there is a requirement for a specific name and the company will not be doing something very specific which might not be included in general objects, we recommend the acquisition of a shelf company

5. THINGS TO NOTE ABOUT THE COMPANY AND THE CYPRUS LEGAL REGIME
It needs to have share capital in any currency for example in euro or US dollars
The higher the share capital the higher the stamp duty on incorporation, so we recommend a nominal share capital of euro to avoid unnecessary costs
Can have different types and classes of shares
Needs to have a common seal (or stamp) which needs to be kept in Cyprus

6. CYPRUS LEGAL REGIME Common law jurisdiction
Contract law is based mainly on common law principles and companies law is largely based on the English Companies Act of 1948
Records of a Cyprus company are publicly available (but there can be complete secrecy as to who the ultimate beneficial owners of a company are)

7. COMPANY ADMINISTRATION
Needs to have a registered office in Cyprus and a company secretary in Cyprus (which we can provide)
Needs to have at least one company director of any nationality – it is advisable that the majority of directors are resident in Cyprus for tax residency purposes (which again we can provide)
Needs to have at least one shareholder of any nationality – we can provide nominee shareholders for secrecy purposes
Meetings of the shareholders and the directors of a company can be held anywhere in the world – it is advisable the most important meetings are held in Cyprus for tax residency purposes (written resolutions are possible)
Must note that perform an audit once a year and must file a yearly tax returns
Can have bank accounts

8. OTHER JURISDICTIONS
We are able to provide company formation and company corporate services, from Cyprus, in a great number of tax efficient jurisdictions including, but not limited to:
British Virgin Islands
Cayman Islands
Guernsey
Jersey
Mauritius
Panama
Seychelles
.... and many more

9. KNOW YOUR CLIENT REQUIRMENTS
After joining the EU regulations have become very strict
We need to know who the ultimate beneficial owners of a company are
We need by law, certified copies of passports, profession, proofs of residential address, bank references of the ultimate beneficial owners – It should be noted that requirements for bank account opening may be more stringent than the above in accordance with local legislation
The ultimate client does not have to come to Cyprus but may have to sign documents to satisfy relevant KYC requirements
For acquiring/incorporating a company, the ultimate beneficial owner will have to executed an administration services agreement with us (which includes an indemnity) for the provision of company administration services