Cyprus Company Registration

Cyprus is the largest island in the eastern Mediterranean a full member of the EU as from 1st May 2004, can offer you the lowest tax regime in Europe. The accession of Cyprus in the EU and the adoption of the acquis communautaire have given rise to new challenges and opportunities in the business world in Cyprus. As of 1 January 2008 the Euro (€) is the official currency of Cyprus, replacing the Cyprus pound as the legal tender money of Cyprus at the irrevocable fixed exchange rate €1=CY£ 0,585274.

Cyprus companies are registered under the Cyprus Companies Law CAP. 113. The first step to incorporate a Cyprus Company is to apply to the Registrar of Companies for approval of the company's name. Secondly the Memorandum and Articles of Association are prepared. A brief description of the main activities of the company is required to enable the drafting of the memorandum and articles of association Finally an application is made to the Companies Registrar to register the company in accordance with the Cyprus Company Law. One of the most significant advantages of registration in Cyprus is the opportunity to use Double Tax Agreements between Cyprus and many other countries.

Time of incorporation
The time of incorporation of a Cyprus Company will be about 10 days from the date we receive the required information from the client and after the approval of the company name (time of approval of company name about 5 working days).

Company name
A good company name should be distinctive, memorable easily spelled and pronounced and distinguish the company form competitors. Words such as Royal, Republic are not accepted as company names. Also names that are already on the register and names that are offensive or deceptive will not be accepted as company names. You should give us the proposed name of the company with two alternatives