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THE WAY TO REGISTER AN INTERNATIONAL
BUSINESS IN
1) THE NAME
The company’s proposed name must be approved by the Registrar of
Companies. This is the first step for the registration of any company in 2) THE SHARE
CAPITAL
Company shares must be denominated in Euros. Company shares are
nominative and thus cannot be issued to the bearer. The minimum share capital is € 1,000 for offshore enterprises
Additional capital requirements and guarantees are required for offshore
companies that intend to render insurance, banking or financial services to
the public at large. 3) THE SHAREHOLDERS OF THE COMPANY
According with Cyprus Company Law a company must have at least one
shareholder. If you wish to have two shareholders or more You can decide in
which portion you wish to divide the shares. We need full names of the
shareholders, address, nationality, and the proportion of share holding. Also
we need a copy of their passports. It is wise to consider that in the cases
that only one shareholder exists we can arrange for a second shareholder to
hold one or more shares as a nominee for him. For confidentiality purposes
please inform us if you wish our office to hold shares as their nominees. 4) THE DIRECTORS
There is no minimum number of directors; we recommend though that you provide
us with at least two, together with their address, professions and
nationalities. Our office upon request provides local directors. Bear in mind
that the shareholders may act as directors as well. 5) THE DUTIES AND ACTIVITIES OF THE COMPANY
Please notify us in detail with the main activities of the company. 6) THE REGISTERED OFFICE
Our office can act as the official registered office of the company in
7) HOW MUCH WILL IT COST
As mentioned earlier our philosophy is to have competitive fees and
even lower than other accounting firms of our size providing even better
quality service, enabling you, the customer to happy and promote us to other
entities. Upon request we shall sent you our set up costs. 8) WHEN WILL IT BE READY
From the time you will provide us with the above information we start
immediately to form your offshore company, which will take us around fifteen
working days. ADVANTAGES OF REGISTERING AN
INTERNATIONAL BUSINESS IN
No withholding of tax on dividends; Net profits of international companies are subject to the rate of 10
percent only; Full tax exemption on profits of international partnerships; Full tax exemption on profits of international branches if their management
and control are outside Net profits of international branches are subject to tax at the rate
of only 10 per cent if their management and control is outside All expenses incurred for the earning of income, as well as annual allowances
on fixed assets, are allowed as a tax deduction; Full estate duty exemption on inheritance of shares in an
international company; Full capital gains tax exemption on capital gains, except on sale of
immovable property situated in Full exemption from local social insurance schemes in respect of
expatriate employees of international entities; Full stamp duty exemption on contracts entered into by international
entities; Expatriate employees of international enterprises living and working
in Expatriate employees of international enterprises living and working
outside the island are exempt from income tax if they get paid through any
bank n Cyprus or art taxed at one tenth of the rates applicable to locals if
they get paid directly abroad; Full import duty exemption for the importation of purchase cars,
office and household equipment (except furniture and air condition equipment)
for the use of the international entity and its foreign employees if the
entity maintains a fully fledged office in Residents and work permits for the expatriate employees and resident
permits for their families can be readily obtained if they maintain an office
in Freely transferable currency accounts (in any currency) can be kept
both in No exchange control restrictions. Types of international entities Limited companies. The registration and regulation procedure for International companies is
governed by the Central Bank of The conditions for the granting of the permission are as follows:
The information which all companies must file
with the Registrar of Companies for incorporation is listed below:
There are many types of international companies that have already been
registered in Partnerships The procedure for registering an offshore partnership in Offshore partnerships and partners have the advantage of being exempt
from taxation of profits. Because of the disadvantage of the partners not
enjoying limited liability this type of offshore entity is not preferred. Branches The registration procedure is the same as that followed for the
companies. Within one month of the establishment of the branch, documents
must be filed with the Registrar of Companies showing the name and address of
at least one authorised person resident in Cyprus, particulars of the
secretary and directors and a certified copy of the Charter, Memorandum and
Articles of Association (in Greek). This type of offshore entity is favoured by the international
companies as a base for directing their activities in the region. They are
also exempt from taxation if their management and control is outside |
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