CYPRUS COMPANIES
GENERAL |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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.
