What documents do I need to establish a Cyprus company?

Establishing a company in Cyprus offers numerous benefits for international business people, including a favorable tax regime, strong legal framework, and access to a highly skilled workforce. To incorporate a company in Cyprus, several documents need to be prepared and submitted to the relevant authorities. This article outlines the necessary documents and provides guidance on their preparation to ensure a smooth registration process.

Choosing a Company Name and Obtaining Name Approval

The first step in incorporating a company in Cyprus is selecting a unique company name and obtaining approval from the Registrar of Companies. To do this, you must submit:

A name application form, including at least three preferred names, ranked by preference.

A brief description of the company's intended activities to justify the chosen name.

Memorandum and Articles of Association

The Memorandum and Articles of Association are crucial documents that outline the company's objectives, governance structure, and internal regulations. These documents must be prepared and submitted to the Registrar of Companies. Key components include:

Memorandum of Association: This document outlines the company's objectives, the share capital, and the liability of shareholders.

Articles of Association: This document details the company's governance structure, including the roles and responsibilities of directors and shareholders, as well as the procedures for decision-making and the management of shares.

Shareholder and Director Information As part of the registration process, you will need to provide information about the company's shareholders and directors:

Shareholder Information: You must submit a list of the company's shareholders, along with their personal details (full name, address, nationality, and occupation), and the number and value of shares held by each shareholder.

Director Information: You will need to provide personal details (full name, address, nationality, and occupation) of the company's directors, along with their consent to act as directors.

Registered Office Address

A Cyprus company must have a registered office address within the country. You will need to provide the address and obtain proof of the registered office, such as a lease agreement or utility bill.

Bank Reference Letter

In some cases, a bank reference letter may be required as part of the due diligence process. This letter should confirm the good standing and reputation of the company's shareholders and directors.

Due Diligence Documentation To comply with anti-money laundering (AML) and know-your-customer (KYC) regulations, you must submit due diligence documentation for the company's shareholders and directors. These documents typically include:

- Certified copies of passports or other government-issued identification.

- Proof of address, such as a utility bill or bank statement dated within the last three months.

- Professional reference letter from a lawyer, accountant, or other professional confirming the shareholder or director's good standing and reputation.

Application for Tax Identification Number

After successfully registering the company, you must apply for a tax identification number from the Cyprus Tax Department. To do this, you will need to complete the relevant application form and provide the company's registration certificate, Memorandum and Articles of Association, and shareholder and director information.

Incorporating a company in Cyprus requires the preparation and submission of several documents, such as the company name approval, Memorandum and Articles of Association, shareholder and director information, registered office address proof, and due diligence documentation. Ensuring that these documents are accurate and complete will facilitate a smooth registration process and allow your company to take advantage of the many benefits of operating within the Cyprus business environment.