Company Registration in Cyprus

Company Registration in Cyprus

If you are planning on setting up a business/ Company in Cyprus the first thing that HCS Hadjihannas Corporate Services will do is to register your Cyprus Company, a relatively simple procedure and normally accomplished within a reasonable time frame.

Incorporation of Cyprus Companies

Non Cypriots (natural persons or other entities) do not require any permit to hold shares in a Cyprus Company. The first step for setting up a Cyprus Company is to apply to the Registrar of Companies for approval of the Company’s name. Please note that we always have available a list of already approved names. Secondly, an application is made to the Registrar of Companies to register the company in accordance with Cyprus Law. The following are required:

1. The name of the Company.
2. The names, addresses and nationalities of the directors, company secretary and shareholders, together with copies of their passports (main pages only). Our form that can be downloaded from our website should be completed by each registered or ultimate beneficial shareholder, director and company secretary.
3. Reference letter for each shareholder. We require a reference letter from a bank, or professional accountant or lawyer.
4. The number of Shares held by each shareholder.
5. The amount of Authorised and Issued Share Capital.
6. The company’s main activity. Our standard Memorandum of Association of a company contains objects that cover almost all possible activities.

Shelf Companies are always available for immediate use.

Useful Information

• There is no minimum number of Directors.
• The registered office must be in Cyprus- our address may be used.
• Local auditors must be appointed.
• There is no minimum number of shareholders for a private company.
• Nominee shareholders can be appointed. By the use of nominees, complete confidentiality is ensured.

On incorporation you will receive:

• Certified Memorandum & Articles of Association in the Greek language, together with an English copy as translated by us.
• Certificates of incorporation, shareholders, directors & secretary and registered office, in Greek or English.
• Share Certificates in Greek or English.
• A company stamp.
• Declaration of Trust  (when appropriate).
•  Undated, signed share transfer documents and undated signed resignation letter by nominee shareholder and directors (respectively if nominees are opted).
• Indemnity Letters, whereby the beneficial owners indemnify the nominees for their actions.

Annual requirements

Audited Financial statements must be submitted annually to the income tax office. The audit must be carried out by an auditor authorised under Cyprus Law. Also an annual Return accompanied by a Greek Translation of the Financial Statements must be filed with the Registrar of Companies, giving details of Directors, shareholders and registered office address.