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.
In a customised 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.
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.
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.
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.
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.
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.
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.
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.
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.
A Cyprus Branch must have an Authorised Representative. The Authorised 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 Authorised Representative of the Cyprus Branch will be arranged by us in accordance with the wishes of the foreign company’s board of directors.
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.