What is Company Registration in Cyprus ?
Cyprus is considered as European Business Hub as it provides major benefits to the foreign investors, such as low tax haven, a stable economy and a welcoming territory for any kind of investments. In Cyprus Company incorporation procedure includes drafting of the Article of Association and other required documents such as signatures, Passport copies, forms etc.
1. Contact BIATConsultant
2. Documentaiton Preparation
4. Final Approval
5. Get Your Company Registration certificate
For Private Limited Company there is no minimum capital requirement, whereas in Public Company there is minimum capital requirement of 15,000 EUR, and both kinds of companies can be established by one or more shareholders.
Private Limited Company Limited by Shares
- It is a kind of company which is founded by one or more partners but upto 50.
- Basic requirement in this type of company is to have its registered office in Cyprus and also a local company secretary.
- There is no requirement of minimum capital. Shareholders subscribe shares which can be monetary or non-monetary given nominal value and cannot be transferred.
- Members of this type of company is liable for the company’s debts and obligations only to the extent of the nominal values of their shares.
Public Company Limited by Shares
- Functions of a public company limited by shares are the same as a private company limited by shares except the fact that shares are freely transferable.
- Under this there is no restriction regarding the maximum number of Partners.
- There is a requirement of minimum share capital of EUR. 15000.
- In Cyprus Foreign company is liable to establish a branch, subsidiary or representative office. All of these can be established as separate entities from their Parent company or extensions of the Parent Company.
- To enter in cypriot market subsidiaries are popular option.
- There is a requirement fo Cypriot private companies limited bys hares to have a registered office in cyprus and it is managed by a management board.
- However, it may be necessary to come in person when the Bank Account is opened in order to sign papers and provide the registration certificate with the identification documents of the managers.
- VAT registration is compulsory but only for those companies which performs activities that are subject to the Value Added Tax, such as trading.
- After this, new companies have to hire new employees.
- By collaborating with job websites and recruitment agencies, recruitment process is not difficult especially when the workforce is so well trained in cyprus.
- In Cyprus, average monthly salary is rather high and an employee earns approximately 1,800 Eur.