Company registration in Cyprus

Company registration in Cyprus

Company registration in Cyprus is the process of formally registering a business in Cyprus in order to carry out commercial activities in accordance with local law. Cyprus is a popular destination for company registration due to its business-friendly climate, favourable tax environment, strategic location and access to European and international markets.

The company registration procedure in Cyprus involves preparing the necessary documents, selecting the type of company, choosing a company name, submitting the application for registration to the Cyprus Registrar of Companies, paying the relevant fees and waiting for approval. Once your company is successfully incorporated, you will receive official documents confirming the status of your company.

. Firm registration in Cyprus can be undertaken by both locals and foreign investors who wish to do business in Cyprus or use Cyprus as a base for their international operations. Firm registration in Cyprus usually takes place through the Cyprus Registrar of Companies or through a law firm specialising in company registration services. 

Here are the basic steps that are usually required to register a company in Cyprus:

• Select the type of company: Decide which type of company best suits your needs. The most common types of companies in Cyprus are Private Limited Liability Companies and Public Companies.
• Selecting a company name: Check the availability of your chosen company name through the Cyprus Registrar of Companies.
• Document preparation: Gather the necessary documents, including the memorandum of association, copies of the passports of the company's directors and shareholders, and the company's registered address.
• Filing: Submit the company registration application together with the required documents to the Cyprus Registrar of Companies. Payment of fees: Pay the relevant registration fees and other related costs.
• Waiting for approval: Once you have submitted your application, you will have to wait for some time while it is processed and approved.
• Receipt of documents: Once your application is approved, you will receive a certificate of incorporation and other necessary documents to prove the status of your company.
• Opening a bank account: Open a bank account for your company in Cyprus.
• Tax Registration: Register with the Cyprus Tax Authority to pay your taxes.
• Compliance: Ensure you comply with all legal requirements and obligations to run a company in Cyprus.

Remember that these steps may vary slightly depending on the specific requirements and conditions for registering your company in Cyprus. It is important to contact a professional or legal advisor for detailed help and advice on the process of registering a business in Cyprus.

 Legal steps to register a company in Cyprus

1. Choosing the type of company: The first step is to determine the type of company that suits your business plans and objectives. In Cyprus, the most common type of company is a private Limited Liability Company (LLC).
2. Documents to register a company in Cyprus: This stage involves the preparation of the necessary documents such as incorporation documents, articles of association and company formation agreements. You will also need to provide copies of passports of all the founders and directors of the company.
3. Choosing a company name: Choose a unique name for your company that complies with Cypriot law and is not duplicated by existing companies.
4. Application: Prepare and submit a company registration application to the Cyprus Registrar of Companies. The application must contain all necessary documents and information about the company and its founders.
5. Payment of fees: Pay the registration fees and other related costs associated with the process of registering a company in Cyprus.
6. Waiting for the application to be processed: After submitting your application, you must wait for your company registration application to be reviewed and approved. This usually takes a few days.
7. Receipt of documents: Once your application is approved, you will receive a certificate of incorporation and other necessary documents to prove your company's legal status.
8. Opening a bank account: After company registration, you will be able to open a bank account for your company in Cyprus.
9. Registration with the tax authorities: Register your company with the Cyprus tax authorities and obtain the relevant tax identification numbers.
10. Compliance: Once you have registered your company, you will need to comply with all the requirements of Cypriot law and regulations relating to doing business in Cyprus. This includes paying taxes, keeping records and accounts, and complying with the corporate charter and other company governance rules.

Under what conditions can the service be provided?

The Cyprus company registration service can be provided under certain conditions:

• Compliance with the requirements for founders: The founders of the company must comply with the requirements of Cypriot law. This usually includes holding valid passports or other identity documents, as well as complying with age and legal restrictions.
• Choosing the type of company: It is important to decide on the type of company that suits your objectives and needs. In Cyprus, private limited liability companies (LLC) are popular company types.
• Financial Requirements: Some company registration services may require a certain minimum capital contribution or service fee.
• Documentation preparation: You will need to prepare the necessary documents such as incorporation documents, articles of association, contracts and passport copies of the company's founders and directors.
• Legal Compliance: It is important to comply with all the requirements of Cypriot law and regulations during the company registration process.
• Payment of fees and expenses: Incorporating a company involves the payment of various fees and expenses associated with incorporation, such as registration fees and legal advisers' or agents' fees.
• Company name harmonisation: The company name must be unique and not duplicate existing companies in Cyprus. Compliance with deadlines and procedures: It is important to comply with the deadlines and procedures set by the Cyprus company registration authorities.

 Under what conditions can the service not be provided?

The service how to register a company in Cyprus may not be available or may be refused in the following cases:

1. Non-compliance with the requirements for founders: If the founders of the company do not fulfil the requirements of Cypriot law, e.g. do not have valid passports, are minors or have legal restrictions.
2. Failure to provide the required documents: If all required documents such as incorporation documents, articles of association, copies of passports of the founders and directors of the company are not provided, the incorporation service may be rejected.
3. Failure to fulfil financial requirements: If capital requirements or payment of fees related to company registration are not met.
4. Failure to comply with the company name: If the chosen company name is already registered or does not comply with the requirements of Cyprus law, the registration service may be rejected.
5. Legal restrictions: In some cases there are legal restrictions or prohibitions on the registration of certain types of companies or activities.
6. Violation of law: If the founders or the company violate the law.

Registering a company in Cyprus on your own?

It is possible to understand the process of company registration in Cyprus on your own, but it takes time, careful study of information and attention to detail. Here are a few steps to get you started:

• Learn the requirements of Cyprus law:
• The first step is to learn the basic requirements and procedures for registering companies in Cyprus. This includes requirements for founders, types of companies, incorporation processes, tax obligations, etc
• Determine the type of company: Choose the type of company that best suits your needs and business objectives. It can be a private limited liability company (LLC), publicly traded company, etc.
• Prepare the required documents: Gather all the necessary documents to register the company, including incorporation documents, articles of association, copies of passports of the founders and directors of the company.
• Come up with a unique name for your company that fulfils the requirements of Cypriot law and does not duplicate existing companies.
• Prepare the application: Write a company registration application, including basic information about the company and its founders, and attach all the necessary documents.
• File an application: File a company registration application with the Cyprus Registrar of Companies or other relevant authorities.
• Pay the required fees: Pay all registration fees and other costs associated with the company registration process.
• Wait for Approval: After submitting your application, you will have to wait for your company registration application to be reviewed and approved.
• Receive documents: Once your application is approved, you will receive your company registration certificate and other necessary documents to prove the status of your company.
• Comply with the law: It is imperative that you comply with all the requirements of the Cypriot laws and regulations relating to doing business in Cyprus.

Frequently Asked Questions

What does the cost of services depend on?

The cost of services may vary depending on the type of company you wish to register. For example, registering a private limited liability company (LLC) may have a different cost than registering a branch office of a foreign company. Different law firms and agents may offer different packages with different levels of service. The price may vary depending on what additional services are included in the package, such as document preparation, tax advice, and bank account services.