How is confidentiality ensured?
When any company is registered in Cyprus, the company's file at the Registrar of Companies (which contains details of the directors, shareholders, company secretary and registered office) is open to inspection by the public. IBCs can avoid this by appointing nominee directors and shareholders i.e. persons to act on their behalf. In such a case, it is the names of the nominees which will appear in the company's file. The identity of the true owners will only be disclosed to a local bank if the company chooses to maintain a bank account in Cyprus. Information regarding the identify of the true owners is not disclosed to any third party or government authority unless it is in relation to a properly authorized criminal investigation (drugs, terrorism, e.t.c.).


If nominees are appointed, how am I safeguarded?
If you choose to appoint nominee directors and shareholders (our employees can used for this purpose), then for your protection you will get the following documents:
Every beneficial owner will get an undated transfer of shares document from the respective nominee which can be dated by you at any time and filed at the Registrar of Companies. Also, a declaration of trust is signed by the nominee shareholder indicating that he is holding the shares in a trustee capacity and that he has no rights on those shares.
Also, every nominee director provides you with a signed but undated letter of resignation. You can put a date on this letter any time you choose and file the change at the Registrar of Companies thus removing the director. A similar procedure applies


Are there any restrictions on the activities of a Cyprus IBC?
A Cyprus IBC cannot undertake any business in Cyprus.


Do Cyprus residents enjoy any additional tax incentives?
No. Worldwide income is taxable for Cyprus-resident individuals and corporations.


What are the reporting requirements for a Cypriot
Company?
A Cypriot Company must submit a set of accounts to the Cyprus Central Bank as well as Registrar of Companies and tax authorities within 18 months of incorporating in Cyprus. Annual submission of accounts is required thereafter.

Are there any restrictions on the number of directors and shareholders in a Cypriot Company?
A Cyprus Company must have a minimum of one shareholder and maximum of 50. When incorporating in Cyprus via an IBC, the shareholder can be an individual or corporation of any nationality. A Cyprus Company must have at least one director.


How long does it take for a Cyprus company to be registered?
The formation and registration of the company including all the formalities can be completed within 1 to 2 month.