Business Formation in Cyprus: How to Do Cyprus Company Registration
Cyprus is a popular destination for foreign investors looking to invest in the sectors of finance, trade, manufacturing or law. Being a member of the EU, a Cyprus company registration already has a lot of benefits, while the economic policy of the country has more to add on the reasons to open a company in Cyprus. The nation is very welcoming to foreign investments, and the government has brought in specific rules to back up this. For example, favourable corporate tax, double tax treaties, citizenship by investment, etc. And of course, the country isn’t Japan or USA, but still has world-class infrastructure as needed by businesses to grow.
Registering a company in Cyprus is an easy process if you are already in Cyprus. And even if not, there is good news for you. 3E Accounting is now making its company registration services available in Cyprus. Meaning that the global company registration service has partnered with business experts from Cyprus to help you register your company in the easiest and the most affordable way possible. From now on, everything people need to do is understand the business environment of Cyprus and decide on the type of company they want to form. After that, they can give 3E Accounting a call and there it is. They will have their own company in Cyprus in minimal time.
Types of Companies in Cyprus
You will need to know about the types of companies in Cyprus.
The sole proprietorship is the simplest form of business in Cyprus. There is a single business owner, and he/she is liable for every aspect of the business but at the same time has the rights to all the profit. The business doesn’t stand as a separate legal entity.
The partnership is another simple form of business in Cyprus. It is similar to the sole proprietorship, just that there are multiple partners running the business. Partners might have entire or limited decision rights depending on whether the company is a general partnership or limited partnership. Either way, the maximum number of partners for a Cyprus partnership company is 20.
Limited Liability Company
Most of the investors interested in Cyprus company registration go for a limited liability company. There are two types of Cyprus limited liability companies:
Private Company Limited by Shares – There is no requirement for a minimum paid-up capital in a Cyprus private limited liability company. However, you will need a secretary and a company director. There can be no more than 50 shareholders in a private company limited by shares. Remember that you also need a registered address.
Public Company Limited by Shares – A public limited company is bigger than a private limited company and should have a minimum share capital of EUR 25,650. There should be at least seven shareholders, and there is no restriction to the number of shareholders. The shares are freely transferable and are open to the public.
How Much Time Does it Take for Cyprus Company Registration?
It depends on if there are all the essential paperwork and there is no problem with the process whatsoever. If you work with 3E Accounting, we can ensure that the business incorporation process won’t take more than a week. You can contact us directly here.