Cyprus

Cyprus

Introduction
Classified as a high-income country by the World Bank, Cyprus has grown steadily with relatively low inflation and successfully diversified its economy. While its agriculture sector and exports of citrus fruits and potatoes have become less and less important, the service sector has been developing well, accounting for around 80% of GDP and employment, including tourism, real estate, financial and offshore services. Recently, Cyprus has also attracted investments from many Russian and Eastern European.
Cyprus is a very attractive location to actualize your ideas and benefit from them. You can establish a Private Limited Company as an offshore company in Cyprus.
Requirements
In order to start and run a Private Limited Company (PLC) in Cyprus, there are some statutory requirements that need to be met. Check below for more details.
1. To incorporate a PLC in Cyprus, there must be at least one shareholder. A PLC can have up to 50 shareholders. The shareholders can be natural or legal entities, residents or non-residents in Cyprus.
2. The minimum number of one director is also required to incorporate and run a PLC. The directors can be natural or legal entities, residents or non-residents in Cyprus.
3. The registered office of a PLC must be in Cyprus.
4. A PLC must have a secretary. The secretary has to be an individual and can be resident or non-resident in Cyprus. A sole director is not allowed to be the secretary simultaneously unless the PLC has only one member.
5. There is no minimum capital to establish a PLC in Cyprus. The Standard authorized capital is US$ 1,000 which is divided into 1,000 shares of US$ 1.
1. An annual general meeting (AGM) is required for a PLC to hold every year. The period between one AGM and the next AGM must be within 15 months. The first AGM can be within the first 18 months from the PLC’s incorporation.
2. An annual return is also required to be submitted to the Registrar of Companies once a year.
3. Generally, a PLC has to have its financial statements audited, unless it is considered a small-sized private company, which means it meets at least two out of three criteria below throughout the financial year:
  1. The total of assets presented in the balance sheet (and without having subtracted the liabilities) does not exceed 34.172,029 euros;
  2. The net turnover does not exceed 70.052,659 euros;
  3. The average number of employees does not exceed fifty persons.
According to current relevant laws, a Private Limited Company established in Cyprus has to disclose the details of its shareholders and directors, which are publicly accessible.
Key Benefits  
Offering Packages
For your time and convenience, we offer you two packages: Standard and Advanced for incorporating a Private Limited Company in Cyprus, including services as below:
Services Standard Advanced
Company Incorporation Service Fee
All Government fees due on Incorporation
Free Name Application
Local Registered Office Service 12 months 12 months
Local Secretary Service 12 months 12 months
Certificate of Incorporation
Memorandum and Articles of Association
Share Certificates
Register of Shareholders
Register of Directors and Officers
Resolution of the Subscriber appointing Directors
Resolutions of the Directors appointing Officers and issuing shares
Professional Consultancy via Phone and Email
Assistance on Opening of Company Bank Account  
Company Statutory Record & Company Kit
Total fee US$ 2,440 US$ 2,939
  Setup Company Setup Company
Services
Company Incorporation Service Fee
Standard
Advanced
All Government fees due on Incorporation
Standard
Advanced
Free Name Application
Standard
Advanced
Local Registered Office Service
Standard

12 months

Advanced

12 months

Local Secretary Service
Standard

12 months

Advanced

12 months

Certificate of Incorporation
Standard
Advanced
Memorandum and Articles of Association
Standard
Advanced
Share Certificates
Standard
Advanced
Register of Shareholders
Standard
Advanced
Register of Directors and Officers
Standard
Advanced
Resolution of the Subscriber appointing Directors
Standard
Advanced
Resolutions of the Directors appointing Officers and issuing shares
Standard
Advanced
Professional Consultancy via Phone and Email
Standard
Advanced
Assistance on Opening of Company Bank Account
Advanced
Company Statutory Record & Company Kit
Standard
Advanced
Total fee (US$)
2,440       
2,939

Beside the company incorporation service, we also provide Offshore Bank Account Assistance of numerous banks in the world and Other Services necessary for any offshore company.
For any further questions, feel free to Contact Us for more details.