Company formation
The most common vehicle used for businesses is a company limited by shares. A new Cypriot company can be incorporated by our Office within 2 weeks. Certain information on the beneficial owner should be submitted to our Office. For details and request to form a Cypriot company, please refer to: Register an IBC
Cyprus companies are governed by the Cyprus Company Law, Chapter 113 which is based on English law as amended to comply with the European Union requirements. They can be registered within a week from the date an application for approval is filed together with the Articles and the Memorandum of Association and approved by the Registrar of companies
There is no minimum share capital requirement, but normally companies are registered with 1000 shares upward of €1 each. The minimum number of shareholders and directors is one and the same person can be also the company director and secretary, being a physical person or a corporate body. A Cyprus address is required as the company’s Registered Office.
Public Filings
Public filings are required for the directors, shareholders, secretary, the issued share capital and the Memorandum and Articles of Association. No such public filings are required for the beneficial owners.
Annual Filing Requirements
Each Cyprus registered company has to maintain proper bookd of records, for all its transactions and assets and liabilities and prepare annually as at 31st December of each year financial statements which have to be audited by independent authorized auditors. The company has to register with the tax Authorities within 60 days of its formation and file annually tax returns. In addition the company has to prepare and file with the Registrar of Companies an Annual Return accompanied by audited financial statements and pay an Annual Duty of €350 by June of each year
