A Cyprus Company is the most powerful tool for your Offshore Tax Planning.
The reason I am using E R Team Global Consultants for 4 years now, for all my offshore business is that they are professionals; they offer great services at very reasonable fees and always on a personal context. I am very happy with them. I fully recommend them.
E R Team Global Consultants were recommended to me by the CEO of a large company which trades in electronic goods in the EU, who is a friend of mine about three years ago. They have been handling all my legal and corporate matters since. They are quick and professional and also offer great fees for all their services.
Cyprus company formation: We can make it fast and simple for you. We can form your company in your absence. We offer competitive fees, no hidden costs. We offer nominee services i.e nominee director and nominee shareholder for full confidentiality. We can complete your Cyprus company formation in about 5 days. A Cyprus company can have a bank account in any country is chooses. All this and much more make the Cyprus company the perfect tool for your international tax planning, You can achieve tax reductions and achieve your targets.
Cyprus company formation is simple and fast. Our firm has been registering companies since 1979!
Below you will find many answers to your questions about Cyprus company formation. Read on to acquaint yourself fully with the procedure and formalities so that when you decide to go ahead you know exactly what it is you need.
Cyprus Company Registration is a term popularly used for the formation of a company, although technically it is the act of the registrar to register your company in the records of the registrar of companies and issue your company certificates.
What makes a company in Cyprus so attractive to foreign investors are the numerous advantages and tax incentives which they enjoy. Such tax incentives spring from a reasonable and investor`s friendly tax environment, many legislative tax benefits, an easy, fast and fuss free process, an extensive double tax treaty network and much more.
Form a Cyprus company today and enjoy the multitude of tax benefits it offers. It will open new horizons for the international entrepreneur and his business. The gains to be had are great.
Read carefully the advantages, benefits and incentives you will be enjoying on the Cyprus company formation and it could be the break you were looking for your success in your international tax strategies and for tax optimization.
A company in Cyprus is mostly called offshore company because it offers great advantages to foreign investors trading offshore and not in the country. You can read more on the Cyprus Offshore Company and the Cyprus company formation, subject for more details and information generally and to see the difference between an international company and a local company by following this link:
Cyprus Offshore 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. Follow this link if you want to read more about a Cyprus IBC.
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:
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.
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 4 days.
1. Nominee Services-Full Anonymity
By using nominees on a Cyprus company registration at usually very competitive fees from E R TEAM Global Consultants LTD you save a lot of time and expense. The people we offer for nominee services are always persons from our office so that their honesty, professionalism, integrity and confidentiality are always guaranteed!
Under the guidance and supervision of our legal department, they will execute their duties diligently, responsibly and always with integrity, so that companies will abide by the laws and regulations and your interests are safeguarded. At any stage the beneficial owner of the company can restrict the authority of the nominees by the signing of a trust instrument with them through which they undertake to use their powers only as instructed in writing by the beneficial owner.
At the stage of its registration a trust deed is also executed in his favor, by the nominee shareholders who undertake not to deal with the shares in any way, unless told so, by the beneficial owner in writing. They also execute and deliver to him, an open date share transfer document, signed sealed and witnessed, so he can at any moment file the document and transfer the shares into his name or anyone else`s name.
If you need to keep your anonymity, then the best way is to use a nominees. For companies in Cyprus the name of the beneficial owner is never disclosed to the authorities nor is it disclosed to the authorities of any third countries. So at the stage of the Cyprus Company Registration, you can ask our firm to provide nominee directors and or shareholders. It can be done later if you like too but it will involve costs and time waste.
2. Nominee Directors
A Cyprus company can have as many directors it needs. The minimum is one director.There is an answer to all your questions. Let’s take them one by one. Any male or female person of sound mind and of age, who has not declared bankruptcy, can be appointed to act as a nominee of any company in Cyprus. A company director is the most important person in the company structure, especially if he is the sole director, i.e. he is the only director, since lately with an amendment of the legislation a company can have only one director and one shareholder.
The directors can exercise all the powers as those are provided for by the memorandum and articles of association on the Cyprus company registration! That is we take particular care always to use as nominees, persons whose integrity and honesty cannot be disputed. You can restrict his powers by signing the trust instrument, cited above, with him, by which you curtail his powers under the threat of legal action and indemnity. Of course we stress again that the persons used by our company are beyond suspicion.
Finally you can take over the powers of the nominee director at the stage of the Cyprus Company Registration or even at a later stage, by securing a power of attorney from him which empowers you, or anyone else to exercise all or some of the company`s powers! A power of attorney can be a general or a special power of attorney! The legislation allows a company to have one director only if so desired!
3. Nominee Shareholders on Cyprus Company Formation
The most frequently asked questions about the shareholder, by foreign investors, are:
A Cyprus company can have 50 shareholders maximum and one minimum. A nominee shareholder is usually appointed to provide confidentiality for the real owner of the company. He is a person whom we will use to be the shareholder, in each case that the beneficial owner needs to keep his anonymity. This person again, is one who is closely associated with our firm, and the real owners are persons of the utmost trust, integrity and honesty.
Any person of age, regardless of sex, provided he/she has not been declared bankrupt can be a nominee shareholder. In order to secure your interests he will sign for you, the so called deed of trust, by which he undertakes not to deal with the shares in any way, unless he has express written instructions from you, the beneficial owner of the company.
He also undertakes not to use the powers allotted to him by the shares, i.e. to appoint new directors, or a new secretary etc. unless again expressly instructed in writing by the beneficial owner. The nominee shareholder will also sign a document called the share transfer agreement, by which he executes an open date share transfer, duly signed and witnessed. All you have to do is to fill in your name or the name of any other person, sign and seal, and witness it, and the shares change ownership, by the filing of the said document at the registrar of companies! By the legislation, a company may have only one shareholder.
4. The Secretary
A Secretary is appointed as required by the Company Law. A company can have one or more secretaries. Here again, the same questions can be asked for the nominee secretary, as for the other nominees. Again for confidentiality reasons a nominee secretary is appointed. A nominee secretary does not have many. A nominee secretary`s participation in the day to day and the serious running of the business is minimal and peripheral. His powers are formal. They are restricted to the signing of mostly bank documents when opening an account or securing loans, when filing the income tax accounts, he keeps the register of members, the register of directors, he sends out the notices for the meetings of the board and so on. Of course it goes without saying that we use as secretaries persons who can be trusted absolutely. A secretary however is necessary by the legislation. One secretary is enough. There can be two or more if required. His duties and powers may be increased or reduced by the directors. Our firm offers very reasonable fees for many legal and corporate services.
5. Bank Account After Registration of Cyprus Company
After the Cyprus company registration a bank account can be opened for it very easily in one of many banks in the country. Opening a bank account can be done in the absence of the foreign investor fast and fuss free. A bank account offers all the necessary services needed for a professional such as internet banking, visa card, digipass, multicurrency, low bank fees, no minimum deposit terms and fast and free transfer of money in and out of the country. We work with many banks in and out of the country for fast bank accounts. We are official introducer to dozens of banks so after the Cyprus company registration a bank account can be opened as a matter of routine and at very reasonable fees. Just call us or email us for more details.
6. Vat Number Can Be Had on the Cyprus Company Registration
A Cyprus company on its registration can apply for a vat number. Such procedure is fast in Cyprus and a vat registration number can be had in about forty eight hours. Our office can get you your vat number without fuss and you can begin trading immediately. On the registration with the vat authority a certificate is issued and a number which will show in the EU vat system in about 4 days maximum. That number must be shown on all the invoices of the company and on all it stationary material. Vat tax is payable in the country only if you physically import the goods into the country. The vat tax is 19% at the moment for the general categories but there are also lower rates for special cases.
7. Cyprus Company Formation: Virtual Office and Virtual Office Services
Our company on the completion of your Cyprus company formation, offers all the virtual office services to companies after their registration in Cyprus. We can offer business address, package forwarding, exclusive telephone number, secretarial services, correspondence forwarding, serviced office spaces etc. Such services can be paid for by the month or by the year.