What are the benefits of incorporating in Cyprus?

Cyprus is considered to be one of the most attractive jurisdictions in Europe to form a limited liability company due to its advantageous tax system. Cyprus holding companies enjoy all the benefits that the low tax jurisdiction has to offer such as full exemption from tax on dividend income, no withholding tax for dividends paid to non-residents, no capital gains tax and one of the lowest company tax rates in Europe of just 12.5%.In addition, Cyprus has more advantages such as its corporate laws which are based on the English Companies Act and are in line with EU directives, low incorporation fees and a quick incorporation process.Moreover, Cyprus has a wide double tax treaty network and is currently negotiating for more.Read more: How to open a company in Cyprus Merchant account Cyprus

What is the procedure of incorporating in Cyprus?

Before any other steps are taken, the Registrar of Companies must be approached to approve whether the name by which the company is proposed to be incorporated is acceptable.After the name is approved, the necessary documentation needs to be prepared and filed. Such documents are the articles of incorporation and memorandum of association, registered address, directors and secretary.See more: How to set up a company in Cyprus Cyprus merchant account

What is the Memorandum and Articles of Association Cyprus?

Every Cyprus Company must have its own memorandum and articles of association.The memorandum contains the basic information of the company such as the company name, registered office, the objects of the company and so on. Care must be taken that the first few object clauses are tailored to the specific circumstances and main business objects and activities of the company.The articles specify rules about the governance of the internal management of the company and regulations about the rights of the members (appointment and powers of directors, transfer of shares, etc).Read more: Cyprus offshore company How to set up a company in Cyprus?

What are “corporate documents”?

It is recommended to ensure that upon the incorporation of the company, its beneficial owners or other appropriate officials are provided with copies of all corporate documents. Such corporate documents normally comprise: Certificate of Incorporation Memorandum of Association Articles of Association A share certificateRead more: Cyprus company documents Doing business in Cyprus

What are the share capital requirements?

There is no legal requirement as to the minimum or maximum share capital of the company.

How do I check if a company is registered in Cyprus?

In Cyprus, company registration is typically handled by the Department of Registrar of Companies and Official Receiver. To check if a company is registered in Cyprus, you can follow these steps:

Visit the Official Website: Go to the official website of the Department of Registrar of Companies and Official Receiver in Cyprus. The website may have a search function or a dedicated section for company registration.
Use the Online Search Tool: Many registration authorities provide an online search tool where you can enter the company's name or registration number to check its status. Look for a "Company Search" or "Company Registry" option on the website.
Contact the Registrar of Companies: If the online search option is not available or if you encounter difficulties, you can contact the Department of Registrar of Companies directly. They may be able to assist you in verifying the registration status of a company. You can find contact information, such as phone numbers or email addresses, on the official website.
Visit the Department in Person: If you are in Cyprus, you can visit the physical office of the Department of Registrar of Companies and Official Receiver. They can provide assistance and guidance on checking the registration status of a company.
Use Third-Party Services: There are also third-party services and companies that offer company verification services. These services may charge a fee, but they can provide you with detailed information about a company's registration status, financial standing, and other relevant details.

Always make sure to use official channels and reliable sources when checking the registration status of a company to ensure the accuracy of the information. Keep in mind that the specific procedures and available online tools may vary, so it's advisable to refer to the official website or contact the relevant authorities for the most up-to-date and accurate information.

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