This questionnaire includes all the information needed to
register a company in Cyprus as explained in more detail below and
which can be used to collect and send to us all the necessary
information. The incorporation procedure is finalised approximately
within 15 days from the submission of all the relevant documents to
the Registrar of Companies, provided of course that the name of the
company is approved and all of the required documents are in
The completed questionnaire should be sent to us and the
appropriate fee should be remitted to our bank account, before we
commence the incorporation procedure.
Two to three options for the name of the company should be
provided to apply for name approval to the Office of the Registrar
of Companies. We can also provide a list with some pre-approved
names we keep for our clients from which a selection can be made.
The name of such a company can be changed at any time at a later
stage. In cases of urgency a selection can be made from one of the
available off the shelf companies.
Objects of the Company
A detailed description of the intended activities of the company
should be provided. A standard Memorandum and Articles of
Association may be used which is suitable for a general
trading/investment holding company.
Proposed capital structure
Clients must inform us about the amount of share capital of the
company, the number of shares and their nominal value. There is no
legally required minimum amount of issued and paid up share capital
of a private limited liability company. However we would recommend
that the share capital be at least €1,000.
Proposed subscriber shareholder(s)
The name, address, passport number, date of birth, nationality
and occupation of the proposed shareholders and their proposed
shareholdings in the company must be provided. The same information
must be provided for the ultimate shareholders/owners where diff
erent. Local nominees, can be provided through our network of
professionals, if the identity of some ultimate shareholders/owners
should not be made publicly available. In order to speed up the
incorporation local subscribers can be provided to sign the
Memorandum and Articles of Association and to act as the initial
shareholders. The shares can be transferred to the proposed
shareholders either with eff ect from incorporation date or any
time at a later stage.
Clients must provide a bank reference and a curriculum vitae
with respect to the ultimate shareholders'/owners'
financial standing, character, business integrity and credit
worthiness. Please note that the bank reference must be typed on
the bank's letterhead with full details of the address,
telephone and telefax numbers, properly dated, stamped and
In case the proposed or ultimate shareholder(s)/owner(s) of the
new company is a corporate body, we shall need to be provided with
a full set of certified copies of all the incorporation documents,
that is, certificate of registration, Memorandum & Articles of
Association, certificate of directors and secretary, certificate of
shareholders and certificate of the address of the registered
office. We also need to be provided with a resolution of the
body's board of directors resolving the establishment of the
The clients must provide us with the name, residential address,
date of birth, nationality and occupation of the proposed directors
of the company, (a minimum of one), unless local directors are to
Although it is not a legal requirement to appoint local
directors it is advisable. If however, one or more directors from
outside Cyprus are to be appointed then please provide the details
required in paragraph 8(a) of the questionnaire.
The appointment of local directors can be arranged through our
network of professionals.
Passport and other documents
Certified true copies of the passports, as well as an original
utility bill for all individuals proposed as shareholders and
directors who will participate in the company must be provided. The
same documentation must be provided for the ultimate
Company secretary and registered office address
Cyprus law requires that every company must have a company
secretary and a registered office address in Cyprus which is used
as the company's official address for the service of any
official documents. The provision of a company secretary and of a
registered office address can be arranged through our network of
professionals. Otherwise, please provide details of the company
secretary and the registered office address by completing paragraph
9 of the questionnaire.
Probably the most significant change from previous practice in Guernsey law under the Companies (Guernsey) Law 2008, which came into effect on the 1 July 2008, was the consignment to history of the concept of capital maintenance, which was discarded in favour of a solvency model as the basis of a company’s ability to pay distributions and dividends.
Please find attached our latest Appleby report which provides a snapshot of data in relation to petition filings and resultant court orders in six of our offshore jurisdictions.
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