Cyprus Corporate Services at a Glance
In comparison to other countries, Cyprus managed to register 19,538 companies in the year 2011 alone. Nevertheless, there are several factors, which make Cyprus the ideal country to register an international business company and make investments in a worldwide scale. Online searches will easily lead you to corporate and legal firms offering the following services that make your Cyprus Company Registration speedier and more convenient.
Cyprus Company Name Registration
One of the basic things that you have to accomplish before you can register your company in Cyprus is the approval of your company name. Regular processing time is around 2 to 3 days, but if you find a corporate law firm that managed to have pre-registered or pre-approved names for your picking then it will speed-up your application process.
Identifying The Share Capital
The share capital of the company relies greatly on the office, the owners wish to establish. If it’s going to be established in Cyprus, then the minimum share capital should be £10.000, since you will need a greater sum of money for the employment of possible expatriate staff. However, those who will not maintain registered offices in Cyprus may only need a share capital of £1.000. Both amounts will need to be deposited to the company’s corporate bank account after the Cyprus company registration has been accepted. The above amounts can be used to pay any company expenses may incur in the near future.
Cyprus Company Directors, Secretary and Shareholders Information
Your chosen corporate and legal firm will need the names, addresses, nationality, and occupation of the director(s), secretary, and shareholder(s). This is part of the information required by the Cyprus Registrar of Companies. You are free to choose your legal and corporate counsel as Company’s Secretary so it can handle all of the secretarial duties you will need like the minute book, the statutory book, and the company seal. This will ease your mind of worries because it will be efficiently handled by experienced corporate and legal professionals. If you choose to do this, you may also forget about the Company’s Register Office because the firm may also provide its business address as address of record where correspondences pertaining to your transactions and business dealings can be forwarded.
Approval of Residence and Work Permits
You will most likely need the papers of your expatriate officers processed so they can obtain the required work and residence permits in Cyprus. At the most, the Cyprus Aliens Law allow three expatriates given executive duties to stay and be employed in Cyprus; however, if proper justification for additional executives working for the company in Cyprus can be justified to the Central Bank then this rule can be disregarded.
Learn more about Cyprus Company Registration and the ideal corporate and legal firms most likely to become candidates for the services you will need in this country. Find someone that has been in practice for years to guarantee the highest degree of professionalism. Give them a call or leave them an electronic correspondence today. Make your business reach greater heights by having the Cyprus Company incorporated. Save on your corporate taxes and take advantage of all these benefits your company will gain.
Emmanuel Mate is a final year student of Law at King’s College London. He is specializing in corporate law matters.