International Business Company Registration in Cyprus | Hot News

Cyprus is one of the sought after country for investment because of the following reasons:

a. it is one of the members of the prestigious European Union
b. it has one of the most excellent forms of telecommunications ideal for multi-national companies
c. it has an existing double treaties with over 40 countries
d. it has one of the most efficient accounting, legal, and banking services
e. it has a very impressive, highly skilled, and highly qualified professionals trained in the managerial, technical, and clerical field
f. it has one of the best tax regime system with a 10% rate of corporation tax, which is one of the lowest all over the world
g. it is a democratic country that adheres to liberal market economy
h. it has an existing bilateral investment agreement with no less than 16 countries
i. it promises low operating and establishment costs

These, together with additional features only the Cyprus government can provide, are enough to convince any business-minded individual to go ahead and invest in Cyprus. However, what are the steps that businesses should do in order to be properly registered as an international business company in Cyprus?

Steps for Cyprus Company Registration
To start a company in Cyprus, it is important to hire an agent who is knowledgeable of the proper procedures to register Cyprus Company. This will make your task less troublesome and speedier. Below is some of the information you may need to provide them in order to hasten the registration procedure.

Preparation of Company Details

a. You should prepare two to three proposed names for your company. This will cost you around ? 5 or US $6.38, but if you wish to have a speedier processing time then you may need to pay ? 15 or US$19 to have it expedited.
b. Indicate the name of the secretary or the secretarial office, which is most likely to handle most of the paper works of the company.
c. Indicate the detailed information of the shareholders following this format:
1. full name
2. residential and business address
3. birth date
4. nationality
5. profession
6. business record
7. notarized copies of passport
8. notarized copies of statutory documents for corporate shareholders
d. Indicate the detailed information for the company?s listed directors following similar format listed above with the addition of a list of other directorial responsibilities he may have with Cypriot Companies.

NOTE: It is important that the directors are Cyprus resident to benefit from its low taxation rate. Seek the assistance from reputable companies known how to handle international business company registration for high quality services associated with these concerns.

e. Submission of the following relevant documents in legalized form together with its English translation if the original is documented in another language:
1. Certificate of Registration
2. Certificate of Shareholders
3. Certificate of Registered Address
4. Certificate of Directors and Secretary
5. Certificate of Shares
6. Memorandum and Articles of Association

f. The submitted address of record should be located in Cyprus, which can also be considered as the company?s business address in the country.

Once you submit the following requirements and information to your hired agent, expect approximately 10 to 18 days before it can be completed. However, the printing of letterheads, accounting and statutory books, and opening of bank accounts may take you a maximum of a month.

Shaiya Ong is a freelance writer who enjoys discovering lots of free stuff online for the benefit of online readers and researchers like her.

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