Key information for Cyprus company incorporation

Name
Names may be expressed in any language using the Latin alphabet.
Alternatively you may suggest a name. Usually the House of companies may answer whether the name is acceptable within 8 working days.
Please note that the following words may be unacceptable. (Asset management, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, leading, loan, lender, option, pension, portfolio, reserves, savings, security, stock, trust, trustees).

Our firm maintains a list of pre – approved names.

Or you can choose  our ready made companies.

Shareholders
The minimum number of shareholders is one. They may be individuals or companies. They do not need to be residents of Cyprus.

Directors
The minimum number of Directors is one. They may be individuals or companies. They do not need to be residents of Cyprus.

Secretary
All companies must appoint a company secretary, who may be an individual or a company.

Share capital
There is no minimum authorised share capital but, as a matter of course, such capital is usually €1000 and the minimum issued share capital is one share of €1.00. The share capital must be expressed in Euro.

Registered office
The registered office of the company must be in Cyprus. The registered office address is the official address of the company. Usually we provide our office.

As soon as the company is incorporated, a tax identification number is issued.


Tax identification number
Every company incorporated in Cyprus is obliged to have a tax identification number.
This number should be shown on the invoices issued by the company.
Your tax identification number will be obtained by our office.

V.A.T. number
Not all companies have to be registered for V.A.T purposes. This depends on the type of activity. The Tax advisors working in our office will consult you accordingly.


Yearly requirements
Financial Statements have to be submitted yearly, to the Cyprus Taxation Authority (in a form designed by Cyprus Tax Authority).
Also an annual return form with the copy of Financial Statement has to be filed yearly, to the House of Companies.



The Cyprus International Trust

For the purpose of attracting foreign investors to establish international trusts in Cyprus, the International Trusts Law of 1992 has been passed which deals with the regularization of international trusts. The new law is not a self-contained law on trust but it builds on the existing Cyprus Trust Law which is based on the English law. (The English principles of Equity are applicable in Cyprus and the Cyprus Trustee Law Chapter 193 is based on the English Trustee Act 1925). The new law gives freedom of movement of funds and it removes certain doubts as to whether the existing legislation could cover arrangements such as those which are common in other jurisdictions. Cyprus trusts are becoming increasingly popular vehicles for international tax planning.