How to open a company in Cyprus

A presentation brought to you by Bridgewest.eu

Types of Companies in Cyprus

• Private Company Limited by Shares (LTD)

• Public Company Limited by Shares (PLC)

• Company Limited by Guarantee

• General Partnership

• Limited Partnership

• Sole Proprietorship

Private Company Limited by Shares (LTD)

• This type of company can be established by one or more shareholders, up to 50

• The company should have a registered office in Cyprus

• The shareholders are liable for the company's debts and obligations only to the extent of the nominal value of their shares

• There is no minimum required capital to establish the company

Public Company Limited by Shares (PLC)

• The shares are freely transferable

• There is no restriction to the maximum number of shareholders

• The minimum share capital is CYP 15.000

Company Limited by Guarantee

• This is a company usually used for non-profit and charitable purposes

• The company does not require a share capital to be established

• This type of company cannot be founded by any number of members, legal forms, who are guarantors instead of shareholders

General Partnership

• This type of company must be established by at least two shareholders, and at most 20

• The company should be registered with the Registrar of Partnerships within one month of its formation

• This type of company is ruled by general partners • The general partners have full liability

• There is no required capital to establish this type of company

Limited Partnership

• This company must be founded by at least two persons

• The company must be registered with the Registrar of Partnerships

• This company should have at least one general partner who is fully liable to the company's obligations, and at least one limited partner

Sole Proprietorship

• The company should be registered with the Registrar of Partnerships

• This type of company is ruled by a single member

• The director is fully liable to the company's debts

Steps for company formation in Cyprus

• Providing a unique name for the company

• Providing a set of identification documents

• Submitting the registration documents with the Cyprus Ministry of Commerce

• Obtaining the necessary certificates, i.e. Certificate of Incorporation, Certificate of Shareholders, Certificate of Directors and Secretary and Certificate of Registered Office.

Necessary documentation and information

• providing utility bills as proof of address

• providing passport copies of the shareholders and board members

• submitting the company registration file with the Companies Section of the Department of Registrar of Companies

Requirements for Company  Formation in Cyprus

• Any person of any nationality or residence can be shareholder in a Cyprus company

• The company must have a local company secretary

• The company must hold a local registered office

• The company can benefit from the nominee services

 

Services Provided for Company Registration in Cyprus

• Drafting the Articles of Association

• Offering a Registered Office in Cyprus

• Setting up a share capital bank account

• Recommending an accountant in Cyprus

• VAT registration

Thank you for your attention

Please contact us for more information at

office@bridgewest.eu

www.lawyers-cyprus.com

Ph./Fax: (+44)203-287 0408