CYPRUS COMPANIES

       

GENERAL

  Type of the company   Private IBC
  Common law or civil law   Common Law
  Readymade company available   Yes
  Non-English company allowed   Yes
  Legislations   Companies Law, Chapter 113

SHARE HOLDERS & DIRECTORS

  Minimum number of shareholders or members   One
  Minimum number of Directors   One
  Director and shareholder can be same person   Yes
  Corporate Director or individual Director   Both allowed
  Corporate shareholder or individual shareholder   Both allowed

LOCAL REQUIREMENTS

  Local Director required   No, but advisable for purposes of tax residency and DTA
  Local shareholder required   No
  Nominee Director   Allowed
  Nominee shareholder   Allowed
  Proxy Director   Allowed
  Proxy shareholder   Allowed
  Registered office required (local)   Yes
  Registered agent required   Yes
  Local or qualified company secretary required   No but yes for DTA and tax residency
  Documents/records/information kept at registered office   Yes
  Any other reporting requirements   None

SHARES & CAPITAL REQUIREMENT

  Usual authorized capital   5000 (minimum 1000)
  Minimum paid-up share capital   EURO 1
  Standard currency of share capital   EURO
  Other permitted currency of capital   Any
  Share with or without par value   Share with par value, preference shares, redeemable preference shares and shares with no voting rights
  Share paid-up in cash or in consideration   Share with par value, preference shares, redeemable preference shares and shares with no voting rights
  Registered share or bearer form   Only Registered Shares
  Share can be issued in different classifications and forms   Yes
  Stamp duty on transfer of share   Yes

CORPORATE BOOKS & RECORDS

  Maintenance of company books and records required   In Cyprus
  Place of maintenance of company books and records   In Cyprus
  Preparation of accounts required   Yes
  Filing of accounts/financial statement required   Yes
  Filing of annual return required   Yes
  Register of shareholders required   Yes
  Location of register of shareholder   Registered Office
  Register of Directors required   Yes
  Location of register of Directors   Registered Office

MEETINGS OF SHAREHOLDERS & DIRECTORS

  Place of board meeting   Anywhere, but Cyprus advisable for purposes of tax residency
  Place of share holder meeting   Anywhere
  Meeting through telephone/electronics means   Yes
  Minutes books of meeting required   Yes
  Place of Minutes Books   Registered Office

CONFIDENTIALITY & PRIVACY

  Publicly Accessible of records of Directors   Yes
  Publicly Accessible of records of shareholders   Yes
  Publicly Accessible of books of accounts and financial statements   No
  Appearance of name/identity of shareholder and Director in the incorporation documents   Yes
  Appearance of name/identity of shareholder and Director in the public records   Yes
  Bank secrecy   Yes
  Legislation regarding confidentiality and privacy   Yes
  Money Laundering legislation   Yes

MISCELLANEOUS

  Doing business with residents and companies allowed   Yes
  Restrictions on carrying on any business activities outside offshore jurisdiction   Yes
  Real Estate property can be owned in offshore jurisdiction   Yes
  Voluntary winding up or winding up through court   Both allowed
  Time frame for winding up   1 Month
  Any exchange control restrictions   No
  Migration/Redomiciliation of companies to or from Cyprus   No

The above information is for guidance only and therefore the material contained herein should not be regarded, viewed or considered as an advice. You should contact your tax or professional adviser/s for appropriate detailed professional advice. We accept no liability for the accuracy of the information contained herein, nor any loss arising from reliance on it.



If you require an Offshore Company or need an advice for your needs, please call our Expert Team who can assist you with your requirements. You are invited to call us at (230) 245 6703. You may send your enquiries by email: contact@premier.mu or by fax at (230) 245 6704.

 
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