Why Register a Company in Cyprus?
It should be noted on the outset that the most common form of company being registered in Cyprus is the company limited by shares meaning that a member (a shareholder of the company) is liable only for the amount remaining unpaid, on the shares’ owned by the member.
There is no distinction between offshore companies and domestic companies as both of them are in essence companies limited by shares.
Ease of setting up the company:
The procedure of setting up the company is easy. You can either buy a shelf-company, where the process is automatic or alternatively you can register a company from the beginning. The second way of registering the company involves the following easy steps:
- Purposes: We will require you to provide us with a description of the purposes and activities of the company. These for example may relate to the provision of services to the sale of goods/products. They can also be a combination of activities of general application. These will allow us to provide tailor-made articles of association.
- KYC: Under the Regulations governing the legal profession in Cyprus we have to follow standard KYC requirements. This means that prior to registration, you will have to provide us with a completed form of information such as the copy of shareholders’ passports (if the shareholder is accompany we require the certificate of incorporation), residential address (if a company we require the certificate of the registered office).