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Some details of a company in Cyprus
Minimal formation requirements
Only one Director and one Shareholder required and this may be a natural person or a corporate body. The same person (company) can be both Director and Shareholder.
Time scale
Incorporation of Private Company Limited by Shares can take up to 6 weeks.
Taxation
Cyprus is not a tax free zone. A Cyprus company pays a 10% Corporate Tax on profits made by the Cyprus Company. However, one of the biggest benefits of Cyprus company compared to Offshore ones is that Cyprus company accesses double taxation treaties with more than 40 countries in the world.
The offshore regime in Cyprus has changed as part of the island's accession to the EU, and as a result of agreements with the Organisation for Economic Cooperation and Development (OECD). Cyprus was excluded from the OECD's June 2000 'harmful' tax haven blacklist in return for pledging a commitment to amend its tax practices.
Also, there is no withholding tax on dividends paid to non-resident shareholders.
No trading limitations
Because Cyprus in no longet an offshore jurisdiction but rather a "low tax" zone, company registered in Cyprus does not have such limitations as International Business Corporation and therefore may, if required, trade in Cyprus itself to access the same taxation rate as other resident companies.
Registration aspects
In order to form a foreign-owned company, a bank reference and copy of the owner's passport is required for the registration. The bank reference must be issued by a bank included on the Central Bank of Cyprus's list of qualifying banks
Shared capital
Standard shared capital of 5000 CYP will be declared and one share worth 1 CYP will be issued (paid off)
What it costs
Registration of a company itself costs 1300 GBP. Depending on what other services you require, the overal cost may differ. Our prices are all inclusive of any taxes and fees and there are no hidden charges. Summery of our prices is on the right hand side, however please read through the order form carefully to make sure you pick everything you need.
What you get.
The following documents will be sent to you by courier post:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Minutes of the first meeting of Directors
- Share Certificates and Register of Members
- Company seal
When you order nominee services you also get:
- Power of Attorney from nominee director/shareholder
- Indemnity form
- Nominee services agreement
Certified and Appostiled documents
If you require Certificate of Incorporation to be apostilled, please, specify it on the order form at a time of the order to avoid delays in future. You may, however order appostiled copied of any of your company documents any time after registration of the company.
About Nominee services
Nominee shareholder and nominee director services also available if required. Please, specify on the order form if you require any of these.
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