Corporations that are registered in Cyprus are subject to the Cyprus Company’s Law [Cap.113] which is modelled on the English Companies Act, 1948. Having said that, through the years a number of amendments have been introduced to keep it aligned with European standards.

Why register a company in Cyprus?

For several reasons, Cyprus may attract you as an investor, either by means of forming a new company or investing in an pre-existing company. Other incentives for new investors are also the low tax rates, the steady economic system or because of the location, being in the centre of three continents. Cyprus is basically a full member of the EU and as a matter of fact benefits from all European Treaties, Regulations and Directives and actually has been placed on the ‘white list’ of countries by the OECD. Cyprus also receives advantageous treatment from strict jurisdictions such as the USA compared to other tax incentive countries. To see more advantages and benefits of registering your company in Cyprus you could possibly visit www.eltoma-global.com

Regardless of what the reason is, incorporating a company in Cyprus, provides you with loads of benefits for development and growth.

After deciding you would like to form a company in Cyprus, you will need to choose the type of the company suits your corporation interests.

The companies allowed by Cyprus companies’ law are:

• Private Company Limited by Shares (LTD). No minimum share capital is essential, with up to 50 Shareholders.

• Public Company Limited by Shares (PLC). Initial capital essential, unending Shareholders permitted, with transferable shares.

• Company Limited by Guarantee. Non-profitable, charitable, no minimum share capital, no maximum number of Shareholders.

• General Partnership. Neither capital nor Auditors expected, formed by two-20 individuals.

• Limited Partnership. Need to have general partner and limited partner, formed by at least two individuals.

• Sole Proprietorship. Operated by one single member.

• Foreign Company Formed by establishing a branch of a foreign company in Cyprus.

When you eventually really know what type of company you desire to incorporate, it is important for you to select a name for your company and after that make an application to the Registrar of Companies for approval. As soon as the name is approved, all you need is to file the Memorandum and Articles of Association (M&AA) and HE forms to the registrar, which includes the name, registered office address, the Company Secretary, the Directors of the company, the share capital, the subscribers of shares (if any) and their respective share allotments, in order for the company to actually be completely incorporated.

As soon as the company is incorporated, a Registration number is allocated to the company and the Registrar will issue certificates of ‘Registered Office’, ‘Shareholders’, ‘Directors’, ‘Secretary’, ‘Incorporation’ and M&AA (both in English and Greek).

Getting legal assistance will be vital for completing this process thoroughly. In Cyprus you will find experts who can form your company, helping you find anything from your workplace to the furnishings, from personnel to business partners. A few have the cabability to maintain your company at a remarkable standard, providing you with advice on how to efficiently manage your business having the key points to succeed.