Company Registration Services
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 with the wishes of the client. The time required for a new company registration, such as this is 12 to 15 working 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. The registration of a branch in Cyprus does not amount to the registration of a new company, but rather the overseas company may operate through its branch in Cyprus for the implementation of its international activities. 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. |
Cyprus Shelf Company (New)
Shelf companies are a good way to jump start company registration and have your Cyprus company registration process finished in one day. Such companies are already incorporated by the time we are instructed by the client and are administered by our firm. Re-location of a Company into Cyprus Sometimes our clients find themselves "trapped" in a wrong jurisdiction (offshore jurisdictions without any real international reach). Usually most of these jurisdictions allow the owner of the company to transfer the company to Cyprus without liquidation. Re-location 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. |
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 Cyprus resident Directors are appointed to affect the "management and control" of the company as required by the law. Most of the time a Corporate Director may suffice. The appointment of Directors will be arranged by us in accordance with 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 addresses within the jurisdiction etc. The provision and maintenance of the Registered Office of the Company will be arranged by us at 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 types 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 with 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 with the wishes of the foreign company's board of directors. Appointment of Nominee Shareholders The owners of the shares 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 shareholders will be arranged by us in accordance to the beneficial owner wishes. |
Banking Facilitation
LLPO Law Firm’s banking department comprises highly educated personnel who have gained banking experience working previously in local and international banks. We offer our clientele the opportunity of opening personal bank accounts or corporate bank accounts with any commercial bank either in Cyprus or abroad. Our banking department assists our clients in taking the most suitable decision for the selection of the most adequate jurisdiction, in order to achieve effective tax planning.
We have good and long established relationships with local banks and we are cooperating with most well-known international banks which we regularly utilise to open bank accounts for non-residents companies and individuals.
At LLPO Law Firm, we provide our clients with introduction and consultancy services guiding them in the most appropriate selection of the type of account or any other suitable banking service and product. Meanwhile, we supply all information, application forms, etc. which are necessary to open the bank account and/or to obtain a bank product.
Furthermore, our banking department is well organised and handles the preparation and submission of bank application forms, dispatch of instruments (devices, tokens, digipasses and cards) in the most cost effective and timely manner, reporting to the clients about the progress, and advising them once the task has been completed.
The majority of the bank accounts we offer, enable our clients to carry out all their banking activity via the internet, e-mail, post, fax or telephone. Debit cards are available as well allowing easy and direct access to funds at all times. An alternative solution is the appointment of our experienced officers to manage your daily banking transactions through the authority of the company directors.
We can offer our clients bank account management services including:
We have good and long established relationships with local banks and we are cooperating with most well-known international banks which we regularly utilise to open bank accounts for non-residents companies and individuals.
At LLPO Law Firm, we provide our clients with introduction and consultancy services guiding them in the most appropriate selection of the type of account or any other suitable banking service and product. Meanwhile, we supply all information, application forms, etc. which are necessary to open the bank account and/or to obtain a bank product.
Furthermore, our banking department is well organised and handles the preparation and submission of bank application forms, dispatch of instruments (devices, tokens, digipasses and cards) in the most cost effective and timely manner, reporting to the clients about the progress, and advising them once the task has been completed.
The majority of the bank accounts we offer, enable our clients to carry out all their banking activity via the internet, e-mail, post, fax or telephone. Debit cards are available as well allowing easy and direct access to funds at all times. An alternative solution is the appointment of our experienced officers to manage your daily banking transactions through the authority of the company directors.
We can offer our clients bank account management services including:
- Daily monitoring of bank movements: up-to-date on account balances and transactions at all times;
- Executing transfer of funds, including follow up, value date monitoring and providing swift confirmation;
- Investigations in case of complex transactions;
- Performing money transactions such as wire transfers and cashiers cheques;
- Negotiation of foreign exchange rates or interest rates for deposit accounts.
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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. 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. As part of the global anti-terrorism and anti-money laundering policy, the Banks require a lot of information and/or documents for due diligence and compliance procedures in context of the application for a Cyprus bank account. The requirements may slightly vary from bank to bank. The documents and information requested is based on the provisions of the 4th Anti Money Laundering Directive (the 4th AML Directive). Our office cannot guarantee the timeframe that is needed for the opening of a corporate bank account. It is important to know that the decision to open or to reject the opening of a bank account is in the absolute and sole discretion of the bank applied to regarding the information and/or documents that will be provided. Personal visit is not required for processing of the application.The Bank Account opening procedure will be carried out by us in accordance with 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. 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. |
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 include 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 the Directors' wishes. TaxisNet 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 a 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 will be required to file quarterly VAT returns. The appointment of the Accountants, preparation and submission of such returns will be arranged by us in accordance with the Director's wishes. |
VIES Registration
VIES Registration is only required to Cyprus companies that affect deliveries within the European Union. On such occasions, the company registered in VIES will have the right to charge 0% of VAT for such deliveries to other VIES registered companies. A Cyprus Company registered to VIES will be required to file VIES returns monthly. Such registration and the subsequent monthly returns for such deliveries will be arranged by us in accordance with 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 the 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 upon request), 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 fax number. 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 a nominated telephone number. |
