Do I have to come to Cyprus to register an International Business Company and to open a bank account?

There is no need to come to Cyprus in person to establish your International Business Company, or to open a bank account.

International business limited companies

An application has to be made to the Registrar of Companies for the formation of an international business company. The Registrar of Companies requires the following:

  • To approve the name of the company
  • Memorandum and articles of association must be submitted for filing

Share capital requirements

There are no minimum authorised and issued share capital requirements. However, a share capital of €2,000 is recommended. 

Shareholders

At least one registered is required for whom the following information is required

  • Full name
  • Nationality
  • Address
  • Number of shares to be held
  • Bank reference letter

Appointment of directors

From a tax planning point of view, it may be important that the company’s management and control is performed in Cyprus. For this to be the case, it is recommended that the majority of directors appointed are Cyprus residents. 

The following information is required for each director:

  • Full name
  • Nationality
  • Address
  • Occupation
  • Bank reference letter

 

Appointment of secretary and registered office

The existence of a secretary and a registered office address are mandatory and secretarial companies are allowed to act as secretaries for international business companies.

 

Formation, annual and administrative costs

The formation and registration procedures are normally completed within a period of a week. For total formation costs for a company including all out of pocket expenses, as well as for annual domiciliary costs required for running a company, i.e. directors, secretary, nominee companies and registered office address, please contact the CEO of our Firm. Professional fees are based on the time spent and the standard of the accountant/consultant involved and are very reasonable by European standards.

 
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