Cyprus, is the third largest island in the eastern part of the Mediterranean Sea south of the Anatolian peninsula Asia Minor or modern-day Turkey and to the east of the Greek islands of Rhodes and Kastellorizo. The Republic of Cyprus is divided into six districts: Nicosia (the capital), Ammochostos, Keryneia, Larnaka, Lemesos, and Pafos. A former British colony, the Republic of Cyprus gained independence in 1960. Today the Republic of Cyprus is a developed country and a member of the European Union since 1 May 2004, and the official currency is the Euro.
Cyprus Offshore Company Formation – Requirements:
- DIRECTOR: Minimum of one Director. Corporations are permitted. (Local Director available and advisable)
- SECRETARY: A local Secretary is necessary (this is provided as part of the Registered Agent service).
- REGISTERED OFFICE: The Company’s registered office must be in Cyprus.
- SHAREHOLDER: Minimum of one Shareholder. Corporations are permitted.
Shareholder(s) and director(s) may be the same.
- SHARES & CAPITAL: The minimum share capital is EU 1,000.00 divided into 1,000 shares of EU 1.00 each. Bearer shares are not permitted.
- NAME OF THE COMPANY: Must end with one of the following suffixes: Limited or Ltd.
Other Information about Cyprus Companies:
- Status of the company: Cyprus International Business Company (IBC).
- Incorporation of a Cyprus company takes 7 – 10 working days.
- Ready- made companies of the shelf, are always available for immediate use
- Cyprus companies are taxed at the rate 12.5% on profits generated in Cyprus and on worldwide basis.
- There is requirement to file financial and tax statements with the Cyprus authorities – a company is required to keep financial records that reflect the financial position of the company. Audited accounts need to be prepared and filed at the end of every fiscal year.
- There is requirement to file annual return with the Cyprus authorities.
- The Cyprus incorporation documents carry the names and identity of the shareholder(s), director(s) and secretary, as well as of the registered office, as such the names appear on the public record.
- Provision of services of nominee directors and shareholders for purposes of confidentiality and protection of anonymity nominee services are available.
- The object of the Company is to engage in any act or activity that is not prohibited under any law. There are no restrictions on doing business within or outside of Cyprus by Cyprus companies.
Cyprus Incorporation Package Includes
- Certificate of Incorporation
- Certificate of Directors and Secretary
- Certificate of Shareholders
- Certificate of Registered Office
- Memorandum and Articles of Association
- First year Government fees