Why to register a company in Cyprus?
The Republic of Cyprus has established itself as one of the most attractive jurisdictions within the European Union and globally for companies. Being full member of the EU since 2004 and member of the Eurozone since 2008, Cyprus companies are fully acknowledged in the entire EU as EU companies.
Cyprus company registration may provide several advantages. Cyprus participates in the European Single Market; resident Cyprus companies can benefit from the EU Parent-Subsidiary Directive and from the wide network of Double Tax Treaties as well. Cyprus offers an investor- and business-friendly environment and a unique, transparent tax system, which entirely complies with all the regulations and directives of the EU, OECD, FAFT and FSF. The legal framework is based on the English common law.
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Cyprus Company Registration
The continuously increasing number of new Cyprus company registrations with the Cyprus Registrar of Companies is an evidence that Cyprus is still one of the most favored jurisdictions for international businesses and investments. As per the latest statistics the number of new Cyprus company registrations has significantly increased since 2015.
The registration of a Cyprus company is a relatively easy and straight forward procedure. The company registration comprises of the name approval, drafting of the Memorandum and Articles of Association and appointment of director(s) and secretary. The formation of a Cyprus company legally constitutes with the signing of the M&A, however the company is not operative yet, unlike in some other countries, where a company formed may act and conduct business with the status ‘under incorporation’.
A Cyprus company is incorporated and able to conduct business only once the registration with the Cyprus Registrar of Companies has been finalized.
For a Cyprus company registration, identification documents of the shareholders, beneficial owners, directors and secretary are not submitted to the Registrar of Company of Cyprus. If the Cyprus company registration is carried out by an authorized Cypriot Service Provider, the personal identification documents are kept by them.
The duration of a Cyprus company incorporation heavily depends on the work load of the Registrar of Companies, but as per our experience a Cyprus company is usually incorporated within 5 maximum 8 working days after submission of the application.
Registration procedures of a Cyprus Limited Liability Company (Ltd.)
When non-residents wish to register a Cyprus Company, a local registering agent/ service provider or lawyer has to be appointed, who will furthermore act as registering agent and proceed with the preparation of all the necessary documents for the registration of a Cyprus Company, and follows up the procedures.
The Cyprus company registration begins with the submission of an application to reserve a Company Name to the Cyprus Registrar of Companies.
Formal approval of the Registrar is required before the name can be used. A name may be in any language using Latin letters but it should be unique and not similar to any other Company names recorded with the Cyprus Registrar.
The Registrar in principle reserves the right to object names. A name is not accepted if this is misleading.
Names which include any of the following words: NATIONAL, INTERNATIONAL (IN GREEK), REPUBLIC, EUROPEAN UNION, EUROPE, EURO, INTERNATIONAL will be allowed only in special circumstances for sound reasons and with conditions. The company names shall not include the words CO-OPERATIVE MUNICIPAL, PRIVILEGED, RECOGNISED or APPROVED. Names including the words: Bank, Banking, Investment, Trust, Insurance, Broker and similar words that may suggest a subject of business that require a special license shall be allowed only if the circumstances justify.
Once the company name has been approved by the Registrar, the following documents must be submitted for the registration of a Cyprus Company:
- HE1 declaration form (signed at the court by a licensed lawyer).
- HE2 form concerning the registered office address of the company.
- HE3 form containing information about the company Director(s) and Secretary.
- Two original Memorandum and Articles of Association in Greek, which must be signed by the shareholders, whose signature must be attested by a witness and signed by the lawyer who has prepared the M&A.
5-8 working days after submission of all the necessary documents to the Registrar.
Companies must be registered with the Tax Department in order to obtain TIC (tax identification) number and a VAT Registration number (if it is applicable).
Melany Nicolaou
DirectorI consult and aid potential clients to register their companies in Cyprus.
Do you have any questions?
We are at your disposal.
Call: +357 22 272 300. or SEND MESSAGE
Shanda Consult
73 Arch. Makarios III Avenue
5th Floor
1070 Nicosia
Rep. of Cyprus
T : +357 22 272 300
Τ: +357 22 272 340