Open a Branch in Cyprus
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Transcript of Open a Branch in Cyprus
OPEN A BRANCH IN CYPRUS
A presentation brought to youby Lawyers-Cyprus.com
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Why Invest in Cyprus?
• Cyprus is regarded by many business owners as a very appealing country in terms of foreign investments.
• The Cypriot tax regime is effective, transparent and fully compliant with the EU regulations.
• What makes it extremely appealing to foreign investors is the amount of exemptions provided by law.
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What Is a Branch in Cyprus?
• A branch in Cyprus has no legal personality on its own.
• It is rather an extension of the parent company, which is completely liable for the branch’s debts and obligations but can also manage its profit.
• The establishment of a Cypriot branch is the same as the registration procedure for a new company or for a subsidiary.
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Open a Branch in Cyprus >>
• The first steps in order to open a branch in Cyprus are:
preparing the necessary documents;
notarize the Articles of Association of the company;
setting up a bank account in its own name.
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>> Open a Branch in Cyprus
• In order to set up a branch in Cyprus it is also mandatory to obtain a document certifying the capital deposit.
• The name of the branch must be registered as a trademark.
• The Cypriot Government only allows resident representatives, authorized through a power of attorney, to set up branches within the country.
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Registration of a Branch in Cyprus >>
• Before starting the branch’s registration procedure with the Official Registrar of Companies in Cyprus, a representative must be appointed.
• The representative can be appointed through the power of attorney.
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>> Registration of a Branch in Cyprus
• The representative will need to submit an application together with the following documents:
the notarized Articles of Association of the parent company;
names of the company’s directors and shareholders;
a Certificate of Registration of the parent company, issued by the relevant institution of its country.
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The Registrar of Companies in Cyprus >>
• There is a one-stop shop opened at the Ministry of Commerce in Cyprus where a representative of the Registrar of Companies can be reached.
• However the majority of cases are resolved at the Registry itself.
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• Within two or three days the Registry can issue in the name of the applicant the following documents:
a Certificate of Incorporation for the branch;
a Certificate of Registration;
a Certificate of Directors and Shareholders.
>> The Registrar of Companies in Cyprus
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The Incorporation Procedure of a Branch in Cyprus
• Setting up a branch in Cyprus is a simple and straightforward process.
• However, the entire incorporation procedure may last up to two weeks, depending on the notary and banks schedules.
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Legal Assistance in Cyprus
• If you are interested in expanding your business in Cyprus, our company formation specialists can help you with all the procedures required for opening a branch in this country.
Thank you for your attention!
Please contact us for more information at:
(+357)22 030 228
http://www.opencompanycyprus.com/
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