How to open a company in Cyprus
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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
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