Interquick Ltd | About Us

@interquick limited

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Interquick Limited was established in 2006. It specializes in the formation and services relating to International Business Companies, local tax, international tax and corporate planning. The company provides international businesses as well as Cyprus companies with offshore consulting and advice.

Through the highly trained and experienced staff, Interquick Limited offers advice on all matters relating to the registration of a company, branch or partnership. Drawing from the vast experience in the services sector and long-term ties with professional associates from around the world we can offer the following services to our clients.

Statutory books and records

Our staff are highly trained and experienced in providing management services both to foreign and local clients according to their needs and requirements.

Our success is founded on our ability to provide quick, practical, creative and cost-effective advice to our clients and an immediate response to our clients' enquiries.

Latest News

›› Measures by the Department of Registrar of Companies and Official Receiver relating to COVID-19
30/03/2020

›› Cyprus Registrar of Companies penalties
23/10/2019

›› Cyprus economic facts during the first 5 months of 2019
26/06/2019

Archived News ››

Use of Cyprus Companies

As a result of the numerous tax advantages that are offered, Cyprus companies are widely used by foreign investors in their tax planning. The most popular uses of such companies are as follows.

Company Formation

There are a number of simple steps that must be followed for the succesful registration of a new company. Here, at Interquick Limited, we summarize and provide this information to help and guide you through the registration process of forming a new Cyprus company.

Services

The services that are provided by our firm cover all the stages from the formation of a company through its smooth operation during the year, the correct representation and all that is legally required to keep the company within the laws of the country.

Tax Advantages

Due to its geographical position Cyprus acts as a connection between Europe, Africa and Asia for foreign investors wanting to transact their business in a well organized and efficient manner. Cyprus governmental structure is modeled on Western Democratic systems and follows closely the United Kingdom legal system.

In addition to the favourable tax environment, Cyprus offers the International Business Companies which are serviced from Cyprus an increased reputation over other offshore jurisdictions, due to its EU membership and its compliance with European law. It also benefits from a well regulated and secure financial infrastructure, with high level of banking, accounting, auditing, taxation and legal services.

Measures by the Department of Registrar of Companies and Official Receiver relating to COVID–19

Part of the measures taken by the Cyprus government in order to support companies and businesses to restrict the spread of COVID–19,
the Department of Registrar of Companies and Official Receiver issued the following announcement on 23 March 2020:

1. The payment of the annual levy of €350 for the year 2020 is extended until 31 December 2020 without imposition of the additional charges.
2. The introduction of the administrative penalties for late filings of notifications such as forms HE2, HE4 and HE57 will be postponed until 2021.
3. The filing of annual returns HE32 for the period 1 January 2020 until 31 December 2020 may be made until 28 January 2021 without the
imposition of the €20 late fee.

Cyprus Registrar of Companies penalties

Following recent amendments to the Cyprus Companies Law, Cap. 113 the Cyprus Registrar of Companies
will impose administrative penalties on certain filings submitted after the prescribed timeframes as provided
by the Law. These penalties will be effective from 18 December 2019 and are as follows: -

Annual returns

The administrative penalty to be applied for late filing is €50 plus an additional charge of €1 for each day of
delay for the first 6 months and thereafter €2 for each day of delay. The maximum penalty for each annual
return is €500.

Changes in company representation

From 18 December 2019 penalties will be levied on companies for the late submission of the relevant forms for
changes in registered address, directors, directors' occupation and addresses, allotment and transfer of shares.
The amount of the penalty will be €50 plus an additional charge of €1 for each day of delay up to the maximum
total penalty of €250 per relevant form.

Cyprus economic facts during the first 5 months of 2019

1. The GDP growth rate in real terms during the first quarter of 2019 is positive and estimated at +3,2% over the corresponding quarter of 2018.
2. Total deposits in April 2019 recorded a net increase of €236,9 million, amounting to €47,7 billion, according to figures released by the Central Bank of Cyprus.
3. Cyprus' revenues from the exploitation of the Aphrodite natural gas field are expected to exceed $9 billion over an 18 year period, based on the agreement
of the Republic with the consortium of companies that hold the license for the Aphrodite.
4. Assets Under Management (AUM) of Management Companies and Undertakings of Collective Investments (UCIs) in Cyprus rose to €6,7 billion in the first
quarter of 2019, an increase of 7%, compared to the previous quarter of 2018. In accordance with the Cyprus Security and Exchange Commission (CySEC)
quarterly statistical report for first quarter of 2019, the total number of supervised entities reached 187.
5. In the twelve month period from June 2018 to May 2019, in comparison to the period from June 2017 to May 2018, the annual average rate of change
of the Consumer Price Index (CPI) was 2%. The corresponding annual average rate of change of the CPI in the previous twelve months was -0,1%.
6. During the period January to February 2019, 1.069 building permits were issued compared to 984 in the corresponding period of the previous year. The total
value of these permits increased by 15,6% and the total area by 22,4%.
7. The total number of contracts of sales submitted to the land registry over the period January to May 2019 was 4.846. This shows an increase of 34%
from last year's corresponding period, where the total number was 3.612.
8. For the period of January to April 2019 arrivals of tourists totaled 686.783, compared to 683.581 in the corresponding period of 2018 an increase of 0,5%. The main
countries of arrivals are the United Kingdom, Russia and Greece.
9. The unemployed persons registered at the district labour offices on the last day of May 2019 reached 17.607. In comparison with May 2018, a decrease of
5.232 persons or 22,9% was recorded.