Our firm can provide advice in setting up, registering and administering a Cyprus International Business Company (IBC). The information required is as follows:
Main company activities
The main company activities to be carried out by the Company must be notified and registered. Such activities must fall within those that are permitted by law.
The company name must be approved by the Cyprus Registrar of Companies. It takes approximately 3 working days for the name to be approved. Alternatively a name can be chosen from a current list of approved names held by the company’s administrators.
The minimum authorised and issued (paid up) share capital required is €1. There is no maximum.
There are no bearer shares for Cyprus companies.
A company is required to have at least one registered shareholder. The following information is necessary in relation to the shareholders:
- Full name
- Full address
- Business occupation
- Date of birth
- Bank reference
- Copy of passport duly certified by a notary or a professional person
- A recent utility bill
If the true identity of the beneficial shareholder is not to be disclosed on the official government records nominee shareholders can be appointed.
At least one company director must be appointed. Shareholders can also act as directors. The same information as for those of shareholders is required. Nominee directors can be appointed in order to comply with the requirement that the management and control of the company is carried out from Cyprus.
- Registered office
A Cyprus office address is used as the official registered address of the company.
- Company secretary
All companies must have at least one company secretary. A secretarial company or a resident individual is appointed to act as the company secretary.
- Time required
When all the above information is collected the company formation commences. The time taken to complete the company formation is between seven and ten working days.
- Documents included in the IBC’s formation package
Two sets of Memorandum and Articles of Association in English
- One set of Memorandum and Articles of Association in Greek
- Certificate of Incorporation in Greek
- Certificate of Incorporation in English
- Certificate of directors and secretary
- Certificate of registered office address
- Certificate of shareholders
- Share register and transfers
- Share Certificates
- Signed share trust deeds (where necessary)
- Signed share transfer forms (where necessary)
- Register of directors and secretary
- Subscribers minutes
- Directors minutes
- Acceptance of directors appointment
- Acceptance of company secretary appointment
- Company rubber stamp