Why should you set up a company in Cyprus?
- Enjoy the international image of having a EU company
- Optimise and plan your structures with the lowest tax rates in the EU
- Access and provision of world-class financial services
Steps for Setting up a company:
- Reserve a trading name for the company (takes up to 5 working days but we have already approved company names)
- Approint the company’s officers- Director, Shareholder, Secretary and Registered Office.
- Prepare, sign and submit the Memorandum and Articles of Association of the company. (takes 10-15 days for the company to register)
- Open a corporate bank account with a local bank or online bank in which the share capital will be deposited.
- Register and obtain a VAT number for the company and Tax Identification Code (TIC) for the company and the individual.
- Obtain the necessary business licenses which will allow the commencement of the economic activities, such as EORI number (needed for companies trading goods in Europe over £600 ) or LEI number (Legal Entity Identifier)
- If the individual is not a Cyprus resident, then the individual can apply for a Non-Domicile status.
Once the above steps are completed the business will obtain the following certificates:
- Certificate of Directors & Secretary
- Certificate of Shareholders
- Certificate of Registration
- Certificate of Registered office
- Certificate of Good Standing
- Memorandum & Articles of Association