Cyprus Company Registration Services
Cyprus company registration includes services known in other business terminology as company set up, company formation or business incorporation. Cyprus company registration services are highly and strictly regulated and exclusively carried out by law firms. In case , any other provider is not a law firm but advertises Cyprus company registration services it presupposes the use of a law firm, however , it is highly advisable to use a law firm directly.
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Cyprus Company Registration (Customized)
In a customized Cyprus company registration the company is formed from the outset in accordance to the wishes of the client. The time required for a new company registration , such as this is 3-4 days including a unique name application. Cyprus Branch Registration (Customized) An alternative to Cyprus company registration is the registration of a Branch of a foreign registered company. A Branch may benefit the same way from tax provisions as any registered company. Cyprus Partnership Registration (Customized) Partnerships in Cyprus are registered either as Limited or Unlimited. One of the main characteristics of a Cyprus Partnership is that although trading income or profit is accounted as a usual company such profit is only taxed in the hands of the partners. This characteristic makes partnership a very useful tool for tax planning. Re-domiciliation of a Company into Cyprus Sometimes our clients find themselves "trapped" in a wrong jurisdiction (usually offshore jurisdictions without any real international reach). Usually most of these jurisdiction allow the owner of the company to transfer the company to Cyprus without liquidation. Re-domiciliation is an alternative to Cyprus company registration. We make sure that this procedure is made under our instructions in order to enable a swift transition. |
Cyprus Shelf Company (New)
Shelf companies is a good way to jump start company registration and have your Cyprus company registration process finished in 1 day. Such companies are already incorporated by the time we are instructed by the client and are administered by our firm. Cyprus Shelf Company (Old) Old Shelf companies are already registered for several years and administered by our firm. Usually these are dormant companies without any activity. Audit and Accounting are usually carried over after we are instructed by a client. Cyprus Pre-existing Company with Activities (Old) Pre-existing companies with activities are normal companies already owned by clients with moderate trading in the previous years. Unlike old shelf companies these where administered by clients, not the firm. Accounting and Audit are usually made for most of the previous years. Re-domiciliation of a Cyprus Company to other Jurisdictions Cyprus is one of those jurisdictions allowing re-domiciliation of a company. This makes the jurisdiction very flexible as re-domiciliation enables the owner of a company to transfer the company without liquidation to any jurisdiction he likes. We arrange every single detail for such transfer in cooperation to the advisors in the new jurisdiction. |
Cyprus Company Administration Services
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Appointment of Corporate Directors
For a Cyprus registered company to be considered as a tax resident of Cyprus, it is proposed that local resident Directors are appointed to affect the "management and control" of the company as required by the law. Most of the times a Corporate Director may suffice. The appointment of the Directors will be arranged by us in accordance to the shareholder wishes. Appointment of Company Secretary A Cyprus Company must have a Secretary. The Secretary acts under the control and the instructions of the Directors keeps under his/her control all legal documents of the company and carries out administrative duties which are not of executive nature. The appointment of the Secretary will be arranged by us in accordance to the Directors wishes. Provision of Registered Address Every Company must have a Registered Office which shall be its official address in Cyprus. This official address serves as the office of correspondence for authorities or individuals, serving address within the jurisdiction etc. The provision and maintenance of the Registered Office of the Company will be arranged by us in our premises. |
Appointment of Physical Directors
For more complex structures or trading companies where the board of directors will be expected to convene more often and the decisions of the board of directors will be involved in different type of decisions, it is advisable that the board of directors consists of Physical directors as opposed to corporates. The appointment of the Directors will again be arranged by us in accordance to the shareholder wishes. Appointment of Branch Authorized Representative A Cyprus Branch must have an Authorized Representative. The Authorized Representative is the primary administrative contact of the Cyprus Branch and may or may not have executive duties in relation to the Branch. The appointment of the Authorized Representative of the Cyprus Branch will be arranged by us in accordance to the wishes of the foreign company board of directors. Appointment of Nominee Shareholders The owners of the share of the company may appoint nominee shareholders who shall be acting on their behalf as registered shareholders. The actual ownership always remains with the beneficial owners of the shares under either a fixed or another form of trust. The set up of a trust and appointment of nominee shareholder will be arranged by us in accordance to the beneficial owner wishes. |
Banking Facilitation
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Opening of Corporate Bank Accounts
Companies have the possibility to open corporate bank accounts in Cyprus national currency or other main foreign currencies. Bank offers to its clients' multicurrency offshore accounts, with secure on-line operation facilities. All banks worldwide are being represented in Cyprus by establishing and operating the so-called International Banking Units (IBUs) which are being supervised by the Central Bank of Cyprus. Cyprus has very strict laws on bank secrecy. However, as part of the global anti-terrorism and anti-money laundering policy, the banks require to know the identity of the beneficial owner of the bank account. In Cyprus opening a fully functional, fully activated, fully operational Cyprus Bank Account, takes very little time. Within 2 days, you can have the SWIFT, IBAN and Bank Account numbers. Personal visit is not required for processing of the application and no minimum balance is required. The bank account opening procedure will be carried out by us in accordance to the beneficial owner wishes. Appointment of Signatory for Corporate Bank Accounts The appointment of bank signatory is mandatory for the opening of a corporate bank account. An account signatory has signatory rights in a bank account. An account signatory may "sign" on the account - execute payments, sign cheques and otherwise dispose with the money on the account. For any regular company, the most obvious option is that the director is also the account signatory. However, any person can be an account signatory - even if such person is not formally related to the company. We strongly recommend the appointment of our Cyprus resident as signatory to the bank account in order to demonstrate that management and control is exercise in Cyprus. |
Opening of Personal Bank Accounts
Opening a Personal Bank Account in Cyprus is a good way to managing funds with a high degree of confidentiality. The process is quick and easy. Anyone can open a bank account in Cyprus without visiting Cyprus. Cyprus banks are fully integrated into international banking system and can offer a wide range of services. The bank account opening procedure will be carried out by us in accordance to the beneficiary wishes. Paymaster Services Paymaster service is preferred when a group of separate entities need a neutral party to receive the proceeds and fairly distribute the funds to the participants. LLPO offers reliable safe management of funds receipt and distribution for domestic and global agreements for Fuel, Metals, Foodstuffs, Royalty Payments and other complex transactions. We will serve as an independent third party to receive incoming funds into a bank account and then immediately distribute the funds according to exact instructions. There is no minimum or maximum amount for paymaster services. |
Accounting and Audit
All Accounting and Audit needs of our clients will be arranged by LLPO in association with our associated Accounting and Audit Firm or send us an inquiry via email and one of our accountants will contact you immediately. Some of our services customarily offered to clients registering a Cyprus company includes the following:
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VAT Registration in Cyprus
Cyprus Companies may register with the VAT Register voluntarily or as a matter of law in specific occasions after they begin their business and upon issuing their first invoice or sign their first contract. Voluntary registration may be carried out at any time after the first business activity of the company. Registration with VAT Authorities will be arranged by us in accordance to Directors wishes. Taxis Net Registration Bookkeeping of Cyprus Companies Books Every Cyprus Company must keep books of accounts. Bookkeeping of the Company may be made by any individual, the directors or any employee of the company, but not the Auditor. The appointment of Bookkeeper and maintenance of Company Books may be arranged by us in accordance to Directors wishes. VAT Returns and VAT Clearing A Cyprus Company registered for VAT or VIES with Cyprus VAT Authorities will be required to file returns monthly (VIES) and quarterly (VAT). The appointment of the Accountants, preparation and submission of such returns will be arranged by us in accordance to Directors wishes. |
European VAT (VIES) Registration
VIES Registration is only relevant to Cyprus companies that affect deliveries within the European Union. In such occasions, the company registered in VIES will have the right to charge 0% of VAT for such deliveries to other VIES registered companies. Such registration and the subsequent monthly returns for such deliveries will be arranged by us in accordance to Directors wishes. Tax Residence Certificates for Cyprus Companies Auditing of Cyprus Companies Returns Every Cyprus Company must be audited at the end of each accounting period by accredited auditors in Cyprus based on the accounting standards applying in Cyprus. The appointment of the Auditor and the follow-up of preparing the annual Audit will be arranged by us in accordance to Directors wishes. Tax Returns and Tax Clearing After the Annual Audit of the books of accounts, the auditors prepare and sign the final accounts of the company and they then submit them to the Department of Income Tax for payment of the tax on the profits of the company. This process and its follow-up will be arranged by us in accordance to Directors wishes. |
Office Services
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Cyprus Business Address Services
Provides the company with the right to use the Address on all letterheads and correspondence of the company. Further includes the receipt of all mailings and correspondence to the company and the maintenance of a filing system in relation to such correspondence. Cyprus Fully Serviced Offices Rental At least 30 sq. meters. Including office furniture, Internet, Telephone Number (including redirecting), Electricity, Water, Common Secretary for basic tasks (further options offered in requested), Parking, Conference Space (2 meetings per month), Simple Catering Service, Right to use space as server room. A real phone operator, individualized, answering service with recording and forwarding of individual messages to a nominated email or forwarding of the phone call to a nominated telephone number or offices. Telephone Redirecting This service includes the nomination of an individual telephone line (number) and the redirection of all phone calls to a nominated telephone number. |
Mail Forwarding
This service includes the forwarding of all correspondence of the Company, by post, to a nominated address. Mail Digitization This service includes the digitization and forwarding of all correspondence of the Company, by email, to a nominated email address. Fax Forwarding This service includes the nomination of an individual telephone line (fax number) and an automated forwarding of all faxes to a nominated email address. Telephone Automated Answering This service includes the nomination of an individual telephone line (number) and a prerecorded answering service with recording and forwarding of individual messages to a nominated email or forwarding of the phone call to an nominated telephone number. |
