Establishing a company in Cyprus is a streamlined and straightforward process when guided by the right professionals. With expert assistance, you can quickly commence operations under the Cyprus jurisdiction and leverage the substantial tax benefits offered by the country’s corporate tax system. This post provides all the essential information you need to know about forming a company in Cyprus.
Approve a Company Name
Provide 3 possible company name which we submit to the Registrar of Companies. Once a name is approved, we are ready to proceed.
Draft and submit the Memorandum and Articles of Association
Next, prepare the Memorandum and Articles of Association, which detail your company’s objectives, rules, and regulations. The shareholders must sign these documents upon completion.
Register with the Cyprus Registrar of Companies
Following the signing of the Memorandum and Articles of Association, proceed with the registration of your company at the Cyprus Registrar of Companies.
Registration at the UBO directory
Once the company is registered, a declaration of the Ultimate Beneficiary Owners must be submitted to the UBO directory.
Acquire a Tax Identification Number
Upon registering with the Registrar of Companies, obtain a Tax Identification Number (TIN) from the Cyprus Tax Department. This number is necessary for all tax-related transactions within the country.
Acquire a VAT Number(if applicable)
Depending on your business activity, we can register your company with the VAT authority and acquire a VAT number.
Register with the Social Insurance Department
If your company plans to hire employees in Cyprus, it must be registered with the Social Insurance Department. This registration allows your company to contribute to social insurance and other social security schemes.
Open a Bank Account
Finally, establish a bank account to facilitate business transactions and tax payments.