Register cyprus offoshore or International Company!
Cyprus Offshore Company or International Business Company (IBC)
Services and assistance for the registration of an International Business Company in Cyprus |
Legal form: A duly incorporated Cyprus IBC constitutes a separate legal entity and may sue and can be sued in its own name. An IBC may take the form of a private Limited Liability Company either limited by shares or by personal guarantee of its members. By far the most usual form that businessmen and or corporations prefer is the Limited Liability Company.
Name of the company: A company name must be chosen and approved by the Registrar of Companies. This procedure usually takes 2-4 working days. Our firm has a list of approved names to choose from, to avoid this procedure and speed up the registration of the company.
Memorandum and Articles of Association: To register a limited liability company, Memorandum and Articles of Association must be prepared by a licensed law practitioner and filed at the Office of the Registrar of Companies. Memorandum specifies the activities in which the company may engage and Articles of Association specifies the rules governing the internal management of the company.
Shareholders: The number of shareholders in a private Limited Liability Company may be from 1 to 50. In the case where there is a sole shareholder the Memorandum and Articles of Association should include a special provision stating that there is only one shareholder in the company. The names of the shareholders, their address and nationality must be submitted to the Registrar together with copy of their passports. A beneficial owner of an IBC has the option not to disclose his details should he wishes so. The beneficial owner may use nominee shareholders provided by our firm based on a personal agreement or a deed of trust.
The minimum share capital: A Cyprus limited liability company should have a minimum authorized share capital of EUR 1,000. The minimum issued capital is one share of EUR 1.00.
Directors of the company and company secretary: The minimum number of directors is one. The full name, nationality, residential address and occupation together with copy of the passport are required. A Cyprus company must have a secretary by law who can be a legal or natural entity. Our firm can provide you with a company secretary at a reasonable fee.
Registered office: Every company is required to have a registered office and address in Cyprus which should be notified at the Registrar’s Office.
Basic Tax Principles: Following the latest changes in the Cyprus Tax laws, a Cyprus registered company is taxed at 10% on its net profits provided that the company has management and control in Cyprus. Management and control is considered to be exercised in Cyprus if (i) the important decisions about the company are made in Cyprus and (ii) the majority of the members of the board of directors are residents of Cyprus for tax purposes (i.e. they live in Cyprus for more than 183 days a year).
Non-resident status: In the case where a Cyprus company does not have management and control in Cyprus then the company is not subject to taxation in Cyprus. However, it should be noted that in such a case the company might not take advantage of Cyprus double tax treaties network. Further it should be noted that in some rare cases the company may be subject to taxation at the jurisdiction were management and control is exercised.
Audit and financial returns: An IBC must submit accounts with the Tax authorities and the Registrar of Companies. The submission of the first audited accounts may be made for the first time in up to 18 months from the date of incorporation of the company. Following that an annual submission is necessary.
Offices in Cyprus: An IBC may be operated from abroad or may have a fully-fledged office in Cyprus. There are certain regulations and procedures that must be fulfilled in the case were a businessman wishes to establish a fully-fledged office in Cyprus.
Meetings: Company meetings need not be held in Cyprus