Choosing a name:
WORDS LIKE "CAPITAL", "BANK", "SECURITIES",
"COMMODITIES", "INTERNATIONAL", "GROUP", "ROYAL"
etc CANNOT BE USED AS PART OF NAMES OF CYPRUS OFFSHORE COMPANIES
Names requiring consent or a license?
THE FOLLOWING WORDS CAN BE INSERTED AS PART OF THE COPANY’S NAME PROVIDED THE
REQUIRED PERMIT IS ISSUED FROM THE CENTRAL BANK OF CYPRUS: "BANK",
"TRUST", "INSURANCE", "ASSURANCE", REASSURANCE"
Permitted suffix
THE WORD "LIMITED" OR "LTD" MUST APPEAR AT THE END OF THE
NAME.
Company seal required?
NO
Resident agent required?
YES
Registered Office?
YES
Documents maintained at registered
office?
YES
Public inspection of documents
ONLY THE REGISTRAR OF CYPRUS COMPANIES IS OPEN TO PUBLIC INSPECTION
Can the company trade within the
jurisdiction of incorporation?
NO
Registered shares or bearer shares
ONLY REGISTERED SHARES ARE ALLOWED IN CYPRUS
Subscribers/Incorporators?
FOR EASIER AND FASTER REGISTRATION IT IS ADVISABLE THAT THE COMPANY IS REGISTERED
BY USING SUBSCRIBERS WHO WILL UPON INCORPORATION OF THE COMPANY AND UPON APPLICATION TO
THE CENTRAL BANK OF CYPRUS FOR PERMIT, WILL TRANSFER THE SHARES TO THE REAL OWNER
Minnimum/maximum number of shareholders
MINIMUM NUMBER OF SHAREHOLDERS IS 2 AND THE MAXIMUM NUMBER IS 50
Location of general meeting of
shareholders/members?
AT THE REGISTERED OFFICE
Can proxies be appointed?
YES
Classes of shares permitted
YES
Maximum authorized share capital for
minimum duty?
CYPRUS POUNDS 1000.00
Minimum issued capital?
CYPRUS POUND 1000.00
Minimum number of directors required?
ONE, PROVIDED HE OR SHE IS NOT ALSO THE SECRETARY OF THE COMPANY
Transfer of registered shares?
THIS IS POSSIBLE PROVIDED THE PRIOR PERMIT OF THE CENTRAL BANK IS GIVEN
Maximum number of directors permitted?
UNLIMITED
Appointment of first director: When?
APPOINTMENT OF THE FIRST DIRECTOR IS DONE AT THE FIRST MEETING OF THE BOARD OF
DIRECTORS
Any residential, nationality requirements
or professional qualifications required for directors?
NONE
Can company act through a power of
attorney?
YES
Are corporate directors permitted?
YES
Where must the board of directors meeting
be held?
AT THE REGISTERED OFFICE SO THAT MANAGEMENT AND CONTROL OF THE COMPANY IS AT THE
PLACE OF REGISTRATION
Company secretary required?
YES
Corporate secretary allowed?
YES
Any specific qualifications required for
the company secretary?
NO
Requirements for annual audited accounts?
YES
Residential & professional
qualification for auditor?
YES
Annual Audited accounts to be filed at
public registry or only with tax authorities?
MUST BE FILED AT THE REGISTRAR OF CYPRUS COMPANIES, THE CENTRAL BANK OF CYPRUS,
AND THE INCOME TAX AUTHORITIES
Powers of attorney?
MAY BE GRANTED BY THE BOARD OF DIRECTORS OF THE COMPANY
Names of major banks operating in the
juridiction
BANK OF CYPRUS, HELLENIC BANK, CYPRUS POPULAR BANK, ALPHA BANK, ARAB BANK
.
