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Please visit our website www.lawyers-cyprus.com to find out how to open a company in Cyprus. BridgeWest.eu offers you this presentation as an introduction to company registration in Cyprus, giving you the fundamental information regarding the requested steps for starting a business in this country. www.lawyers-cyprus.com is a division of BridgeWest.eu, a company specialized in company registration services throughout Europe. We are an International Consulting Company based in Cyprus, created for international clients looking to expand to the European market. Our company has been created by people with important experience in assisting international clients in their business throughout the continent and we offer quick information and assistance when it comes to setting up a new business abroad.
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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
www.lawyers-cyprus.com
Ph./Fax: (+44)203-287 0408