Several factors shall be considered when registering a company in Cyprus as per below key points:
- Legal structure of the entity, such as a private limited company or a public limited company.
- Unique name shall be chosen complying the Cyprus regulations.
- At least one Directors and one Secretary of any nationality, shall be appointed.
- At least one Shareholder of any nationality, shall be appointed.
- A Registered office shall be registered in an office address in Cyprus.
- Issuance of capital. There are no minimum capital requirements.
- Corporate taxation and its benefits shall be reviewed. More information about corporate tax can be traced in our website.
- Legal and Regulatory compliance shall be understood for running a company in Cyprus.
- A bank account shall be opened in Cyprus to manage the company’s finance and operations
- A business plan outlining the objectives, target market, financial forecast and overall strategy shall be developed.
Registration to governmental services is crucial when incorporating a company in order to be compliant and avoid potential fines and penalties. See below the registrations that shall be done:
- Registration to Gov.cy (ex- Ariadni).
- Registration to the UBO (Ultimate Beneficial Owner) registry.
- Registration to the e-filing system.
- Registration to TFA (Tax For All) system.
- Registration to Ergani and Social Insurance Department.
It is suggested that professional advise shall be taken before proceeding to registering a Cyprus. ACLA AUDITORS can assist you in every part of the way of incorporating a company and registering it to all the government services as obliged by laws and regulations.