Cyprus’ largest industry is the service sector. The services industry, which includes financial, professional, and business services, shipping and ship management, and tourism, is Cyprus’s most important economic sector. There are numerous reasons to register company Cyprus.
Ease of Establishing a Company in Cyprus
The process of establishing a company in Cyprus is simple. You can either incorporate your own firm or purchase a shelf company.
Establishing a Cyprus Company
Purposes: We will require you to give us with a description of the company’s purposes and activities. For example, these could be related to the supply of services or the selling of goods or products. They can also be a collection of activities with broad application. This will enable us to supply you with the Memorandum and Articles of Association.
Know your client (KYC): According to the regulations governing the legal profession in Cyprus, we must undergo normal KYC procedures.
This implies that prior to registration; you must supply us with a completed form of information, such as a copy of the shareholders’ passports and a residence address.
A similar procedure applies to the appointment of Directors and the Secretary of the Company. All documents that are not in English must be translated, certified, and apostilled in line with the Hague Convention.
Name Approval: A name is submitted for approval to the Cyprus Company Registrar. The name could take up to ten days to be authorised. If not approved, the procedure must be repeated. As a result, we normally advise our clients on the chances of the name being accepted.
Company Registration: We then register the company using the name granted by the Registrar of Cyprus Companies. This process takes about another 5 working days.
Ability to buy shelf companies
There is no need to wait to register company Cyprus because you can purchase a shelf company. By owning a shelf firm, you reduce the need for waiting time. A Cyprus shelf company is a company that has already been formed and is available for purchase by a client who wants to begin doing business in Cyprus right away.
The legal team at Tba-associates is prepared to assist you with Cyprus company registration. To begin the company formation process with knowledgeable guidance and comprehensive support, get in touch with Tba-associates.
