Formation of Cyprus Company

The management and control of  a company must be in Cyprus in order for the Cyprus company to benefit from the Cyprus Tax regime. Below is a summary of the structure and minimum substance requirements in Cyprus, from both a tax and legal perspective.

The Cyprus company has a Director, Secretary, and Shareholder(s).  In order to support the argument that management and control takes place in Cyprus, the management should be comprised mainly of Cypriot nationals. The Cyprus company will be registered in the Registrar of Companies and will be allocated a Registration number and incorporation date.

A condition of a Cyprus company is that the registered address is located within the Republic of Cyprus. In order to prove substance, the company has to have a telephone and fax number and to have a fully functioning email system, in addition to the formalities outlined above relating to the board, a (part-time) qualified employee is hired and is physically present in the office. An adequate office with computer, printer, dedicated phone, e-mail address and fax lines should also be rented. The job description of the employee and the service profile of this office should be in line with the business plan of the company. This employee function can also be carried out by a board member.

A bank account can be opened either in Cyprus or abroad.

Fastco can assist you with office space in Cyprus as well as in setting up your office.  We can also assist with employees.

FastCo provides you with specialized tailored solutions.  Our team is comprised of professionals who are fully qualified in their field of expertise.

We are a trusted provider of corporate services including:

  1. Company registration
  2. Provision of fiduciary services
  3. Opening of corporate bank accounts
  4. Management and administration of companies
  5. Audit
  6. Tax planning
  7. Accounting

www.fastcoregister.com

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