The information provided below, defines the steps required to be followed in order to guarantee the proper formation of a new Cyprus company.
1. Main company activities
The main company activities to be carried out by the Company must be notified and registered. Such activities must fall within those that are permitted by law.
2. Company name
The company name must be approved by the Cyprus Registrar of Companies. It takes approximately 3 working days for the name to be approved. Alternatively a name can be chosen from a current list of approved names.
3. Share capital
The minimum authorised and issued (paid up) share capital required is €1.00. There is no maximum. The share capital amount need not be blocked but can be used for the company’s requirements. There are no bearer shares in Cyprus.
4. Company shareholders
A company is required to have at least one registered shareholder. The following information is necessary in relation to the shareholders:
- Full name
- Full address
- Business occupation
- Date of birth
- Bank reference (original bank letter required)
- Copy of passport − the page where the photograph and personal details are shown (to be certified as a true copy by a notary or other)
- Utility bill showing the shareholders full address which is not more than 3 months old (to be certified as a true copy by a notary or other)
If the true identity of the beneficial shareholder is not to be disclosed on the official government records, nominee shareholders can be appointed upon request.
At least one company director must be appointed. Shareholders can also act as directors. The same information as for those of the shareholders is required. Nominee directors can be appointed in order to comply with the requirement that the management and control of the company is carried out from Cyprus. This is also used in keeping the anonymity of the true directors.
6. Company secretary
A Cyprus company must have at least one company secretary. A secretarial company or a resident individual is usually appointed as the company secretary. Where necessary (for more than one company) different named secretaries can be appointed upon request.
7. Time required
When all the above information is received the company formation commences. The time taken to complete the company formation is between eight and ten working days.
8. Registered office
A Cyprus office address is used as the official registered address of the company. Where necessary different office addresses can be made available upon request.
9. Documents included in the Company formation package
- Two sets of Memorandum and Articles of Association in English (more copies are available on request)
- One set of Memorandum and Articles of Association in Greek (more copies are available on request)
- Certificate of Incorporation in Greek (original)
- Certificate of Incorporation in English
- Certificate of directors and secretary
- Certificate of registered office address
- Certificate of shareholders
- List of registered members
- Share Certificates
- Signed share trust deeds (where necessary)
- Signed share transfer forms (where necessary)
- Subscribers minutes
- Directors minutes
- Acceptance of directors appointment
- Acceptance of company secretary appointment
- Company rubber stamp
All the above documents are delivered to the client by international courier service.