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Registration (Formation) procedure
Key information for Cyprus company formation
Name
Names may be expressed in any language using the Latin alphabet.
Our firm maintains a list of pre – approved names.
-You may simply choose a name from the list.
-Alternatively you may suggest a name. Usually the Registral of companies may answer whether the name is acceptable within 5 working days.
Please note that the following words may be unacceptable. (Asset management, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, leading, loan, lender, option, pension, portofolio, reserves, savings, security, stock, trust, trustees).
Shareholders
The minimum number of shareholders is one. They may be individuals or companies. They do not need to be residents of Cyprus.
Directors
The minimum number of Directors is one. They may be individuals or companies. They do not need to be residents of Cyprus.
Secretary
All companies must appoint a company secretary, who may be an individual or a company. As a secretary, we usually appoint our office company.
Share capital
The share capital must be expressed in Euro. There is no minimum authorized, issued and paid up share capital. However our firm suggest Euro 1.000 -.
Registered address
All companies incorporated in Cyprus must have a registered office in Cyprus. Usually we use our office address without any additional charge.
Tax identification number
Every company incorporated in Cyprus is obliged to have a tax identification number.
This number should be shown on the invoices issued by the company.
Tax identification number is issued by our office without any additional charge.
V.A.T. number
Not all companies have to be registered for V.A.T. This depends on the type of activity. The Tax advisors working in our office, will consult you accordingly.
Yearly requirements
Financial Statements have to be submitted Yearly, to the Cyprus Taxation Authority (in a form designed by Cyprus Tax Authority).
Also an annual return form has to be filed yearly, to the Registrar of Companies.
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