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Cyprus Company Formation - We Make it Simple - Part 2

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Contributed by E R Team Global Consultants Ltd
16 November, 2018


Types Of Cyprus Company

Any physical person of age and any legal entity irrespective of nationality can own a company. A company in Cyprus is also called an IBC, or Cyprus IBC which means a Cyprus International Business Company. The most common Cyprus company formation is a private company limited by shares, and of course as the name suggests it is of limited liability. That means that its members (the shareholders) of the company are only liable to the extent of the value of the shares they own in it. The large majority of companies involve limited liability companies. However, the law in Cyprus allows for the formation of other types of legal entities too such as:

1. A private company limited by guarantee.

2. A private exempt company.

3. A partnership either general or limited.

4. A public company limited by shares.

5. Cyprus sole proprietorship (Law , Cap 116).

6. A non-profitable organization.

7. A Cyprus local or offshore or international trust.

8. A club.

Cyprus Company Formation Can Be Done in Your Absence

A Cyprus Company Formation can be done without your personal presence on the island. All the procedures can be done by email and courier thus saving you precious time and money. All you have to do for a Cyprus company formation, is get in touch with us, tell us the name you like for your company and our firm will do the rest for your Cyprus company formation. If you want to visit the island however, apart from the fact that we will be happy to see you, you will have the chance to see the island, get acquainted with its banking system and the business environment, meet your bankers and of course taste the exquisite local cuisine. If you want to read more about company formation and the Cyprus company generally Cyprus Company Incorporation is a very interesting article full of technical information.

Cyprus Company Formation: The Company Kit

Cyprus company formation: A client who incorporates a company in Cyprus will receive from our firm a company folder (or kit) which contains all the incorporation Certificates. The Company kit also includes a welcoming letter, the nominee deed of trust, the nominee transfer of shares agreement, and a share certificate. You can also find there a tax advice letter and the memorandum and articles of association, the Cyprus income tax registration documents with a Cyprus income tax number (T.I.C) as well as the Cyprus Vat Registration document and a Cyprus vat registration certificate in Greek. Finally in the company incorporation kit there is a list enumerating all documents contained in your Cyprus company kit such as the indemnity signed by the U.B.Os for using the company in Cyprus in a legal and proper way and of course your p.o.a if you need one (Power of Attorney). Your Cyprus company can be fully incorporated in four days.




 

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