Cyprus is a well-established and reputable jurisdiction for companies, trusts and foundations. Cyprus offers a favourable tax regime and a wealth of services for international investors. Cyprus has also been awarded the Financial Secrecy Index (FSI) Seal of Approval for its strict banking secrecy laws that protect customer information. Moreover, Cyprus has been dubbed “a safe haven” by many international sources due to its political stability, geographical proximity to Europe, favourable climate and rich history dating back thousands of years!
Why You Should Open a Company in Cyprus
Cyprus is a member of the European Union (EU), which means that it’s part of a trading block that accounts for over 20% of the world’s economy. As such, you can expect to enjoy plenty of opportunities for exporting your products or services to other EU member states.
The Cyprus economy has been growing steadily since 2008 and continues to do so today; this demonstrates an underlying stability in the country’s political environment and economic climate, making it an ideal location for foreign businesses looking to expand their horizons into new markets while remaining secure in their investment decision.
Cyprus’ modern banking system offers efficient access to funding options such as loans and mortgages while also providing insurance protection against losses due to unforeseen circumstances such as bankruptcy or fraudulence on behalf of employees who work within your company premises all at reasonable rates that won’t break your budget!
What is the Cyprus Company Formation Process?
The process of setting up a Cyprus company registration is simple and straightforward. The one-stop shop for company registration in Cyprus is the Department of Companies and Commercial Registrations (DCCR). Established in 1887, DCCR is located at 1st Floor, 13A Athalassa Avenue, Nicosia 1060 and has been operating as an independent public body since 2004 under the Ministry of Commerce, Industry & Tourism.
DCCR offers a full range of services relating to corporate governance including:
- Company registration;
- Director appointment;
- Shareholder information management;
- Board meeting minutes preparation;
- Annual returns submission;
- Annual general meetings (AGMs) scheduling.
What Documents Are Required for Company Registration in Cyprus?
You’ll need to provide the following documents for company registration in Cyprus:
- A certified copy of the certificate of incorporation of your company. This should be a document issued by Companies House, which is part of HM Revenue & Customs (HMRC). It’s not necessary for this certificate to be translated into Greek or English as long as it is valid under UK law.
- The articles of association (bylaws) – This should include any amendments made since incorporation. You can find out more about these rules by reading our guide on how to write good ones here!
- A certified copy of the memorandum of association (articles of incorporation). This document contains essential information about who owns shares and what powers directors have over their business activities.
How to Register a Forex Licence in Cyprus and Become an Authorised Dealer (AD) with the Central Bank of Cyprus (CBC)
In order to register a forex license in Cyprus and become an Authorised Dealer (AD) with the Central Bank of Cyprus (CBC), you will need:
- A Cyprus bank account. You can open an account at any bank or financial institution operating on the island. If you already have an existing business entity registered in Cyprus, then it makes sense to use this company’s name as part of your AD registration process too.
- To apply for a license with the CBC via their website.
If successful in obtaining approval from them, they will issue you with proof of identity documents which show that they recognise your status as someone who can trade currencies without needing any further authorisation from them (such as being an individual citizen). This means that these documents are useful if ever questioned by other authorities such as police officers while conducting transactions outside normal business hours when banks may not be open yet either!
Cyprus offers a favourable tax regime and a wealth of services for international investors.
Cyprus is a member of the European Union and is a member of the eurozone. It has a long history of being an international financial centre, and it offers a favourable tax regime for international investors.
As an EU country, Cyprus can offer you access to European markets through its membership in the single market. This means that you can freely trade within any other EU country without facing any barriers or restrictions on your business activities there.
Cyprus has been ranked first globally by Transparency International’s Corruption Perception Index 2017; this indicates that Cyprus has one of the lowest levels of corruption among all countries in the world today!
We hope that this article has helped you understand the benefits of opening a company in Cyprus and how to go about doing so. We would like to wish you all the best with your business!