During recent years Cyprus has introduced considerable changes to the Company Law (Cap 113) and relevant regulations render this tropical isle an attractive jurisdiction for many international businesses to conduct their activities via various Cyprus legal entities.
Company Registration in Cyprus
The subsequent legal corporate forms might be conducted in Cyprus:
�Cyprus Company (private limited company, public company, company limited by guarantee).
�Branch of the foreign company.
�Re-domiciliation of any foreign company.
Businesses may also be conducted through other legal forms includingpartnerships and trusts, business names and sole proprietors. The standard corporate tax rate for businesses that are registered in Cyprus is 12.5%, one of the lowest rates in Europe. There is a reduced rate for certain products and many goods and services also hold a zero VAT rate, although the VAT rate is 19%. There is not any withholding tax in the dividends paid by a Cyprus company to its non-Cyprus resident Shareholders, with no withholding tax relates to dividends received from EU subsidiaries. Company formation
Cyprus private companies limited by shares should have a minumum of one Director, one Shareholder as well as a company secretary. A Cyprus company must furthermore have a registered office. An authorised power of attorney or company company can perform the registration procedure. The following information is going to be required:
�The address and passport information on the proposed Directors and Secretary from the company.
�The proposed registered address in the company.
�A utility bill to behave as evidence of residency.
�A recent bank reference letter/statement.
�The proposed business address from the company.
These forms are to be filled out and submitted accordingly:
�Declaration of company incorporation.
�Registered company office address.
�Details of the Secretary, Directors and Shareholders.
�Memorandum and Articles of Association.
After the following information has been received by the Registrar of Companies, the company is going to be officially registered. The whole process takes approximately one month overall.