Following is a brief outline of the legal and procedural requirements in respect to the incorporation of a company in Cyprus.
As regards the legal requirements please note that according to Cyprus Company Law and Regulations in force a company must be registered with the Companies Registry in Cyprus, which is publicly accessible.
However any shareholder may have his/her shares held by a trustee / nominee shareholder subsequent to relevant trust documents been drafted to safeguard the rights of the beneficial owner as well as the obligations and duties of the trustee.
Prior to proceeding with the Registration of a company the name of the company must be applied for and be approved by the Registrar of Companies.
Each company is registered at the Registrar of Companies in Nicosia and to this purpose the following information is required:
Names, addresses, occupation, nationality and shares percentage for each registered shareholder. Please note that each company must have at least one shareholder, and the name of the beneficial shareholder does not appear in the documents of the registrar and is not accessible to the public but only the name of the trustee / registered shareholder.
Names, addresses, occupation and nationality of directors. Please note that each company must have at least one director.
Again the beneficial shareholders may appoint any person other than themselves to act as the directors of the company, acting according to a Power of Attorney given by the beneficial shareholders.
In the event that nominee shareholders or directors are appointed we still need to be provided with copies of the passports of the beneficial shareholders and non-Cypriot directors.
3. Registered Office of the Company
Such may be any address in Cyprus and to this purpose our office provides Virtual Office services. i.e. Business address for your correspondence, website and email accounts, faxing of documents, and office areas for your meetings and needs of the company. Our staff is always available to provide you with any services needed for the running of your virtual office in Cyprus.
4. Secretary of the Company
Similarly as with point 3 above we may provide you with Registered Secretary and the services required for same.
5. Capital of the Company
Every company has nominal and issued capital and any or all of the nominal capital may be issued.
6. Memorandum and Articles of Association.
Amongst others, the Memorandum states (a) the name of the company, (b) the objects of the company and (c) the nominal and issued capital of the company.
The Articles of Association state the internal regulations of the company.