Christos Patsalides Corporate Management Ltd

Cyprus Company Incorporation

Our Law firm undertakes all procedures related to the registration of Limited Liability Companies in Cyprus and abroad.

The following services consist of management and accounting support of Cypriot and foreign companies, provided through our affiliated company of Christos Patsalides Corporate Management Ltd.

 

The name of the company: Can be chosen by you from our preapproved company names, thus saving you valuable time and expense in submitting one of your own names which may not be approved, or you can provide us with a list of names of your preference and we will proceed to their application submission for approval by the Cyprus Company Registrar.

 

Objects of the Company: Our Memorandum of Association includes a very wide and broad range of objects so that a company can deal with any kind of activity. If the client requires an additional or different activity , the Memorandum of Association can be amended with the required object to be added and included. In accordance with our due diligence requirements, the client should provide us with a brief description of the proposed activities of the company.

 

Shareholders: According to the Cyprus Company Law, Cap.113, a Company may have only one shareholder. Shareholders can be either natural persons or legal entities. The information needed for each shareholder is: Full name, Address, nationality, date of birth, occupation, number of shares held, true copy of the passport, true copy of utility bill as a proof of address of the shareholder and a bank reference letter.  If anonymity is required, then trustee services can be provided, via trustee companies or nominees who can hold the shares in trust for the beneficial owners. The same information is also required for the beneficial owners.

 

Share Capital: There is no legal requirement as to the level of the authorised or issued share capital of the company. Usually, we incorporate companies of €1.000 authorised share capital.

 

Directors: Each company must have at least one director. It is not mandatory to have local directors. The information required for each director is: Full Name, Occupation, Residential Address, nmationality, Nominee Directors are available by our firm  if anonymity is required. It is advisable to appoint local nominee directors, in order to benefit from the advantages of a Cyprus Company Incorporation, the management and control of the company must be held in Cyprus, i.e. the decisions of the company need to be taken in Cyprus and the majority of directors must be Cypriots, in addition the Secretary of the company advisably must be residing in Cyprus and the Registered Office must be held in Cyprus.

 

Secretary: It is a legal requirement for every company to appoint a Secretary. The secretary can be a resident or a non- resident. It is advisable that a person residing in Cyprus is appointed since the Secretary is responsible for the signing of various documents, filing, preparation of minutes, etc.

 

Registered Office: We provide for you an a registered address for your company, required by law, in Cyprus, at which all your company's correspondence will be directed. This service falls under the annual charges.

 

Nominee Services: Our Law Firm provides one or as many nominee services our client wishes to have.

The full package of nominal services includes: Nominee Directors / Noominee Secretary / Nominee Shareholder's / Registered Office.

Nominee Service is a form of Trust and we guarantee top confidentiality and security.

For foreign clients it is advisable, as we mentioned above as well, to have a Cypriot Nominee Director for the purposes of tax planning. This way, a company can claim Cypriot residency and therefore can take advantage of Cyprus Tax system and Tax treaties of which Cyprus is a party. According to Cyprus Tax Law in order to be considered as tax resident in Cyprus a Company must be managed and controlled from Cyprus. It means that the majority of the Board of Directors swhould stay and work in Cyprus.  

 

Nominee Secretary: is useful as it allows us to sign any required by law forms or applications of the company and file them to the Registrar of Companies in time provided by law, without having involved our client. It is important to act as secretary in time as there are situations where submitting of certainf forms to the Registrar of Companies after the expiration of a deadline is not allowed unless a Court order is obtained.

 

Shelf company: A Shelf company is a company which has been incorporated and left on the shelf without trading, A shelf company is a normal corporate entity ready to trade same day. A shelf company has preappointed direcotrs, secretary and shareholders and can begin trading legally and carrying out all the activities, trades business, agreements, etc. virtually instantaneously.  The officers of the 'shelf company' can either continue or be changed by the Real Owner of the company as soon as he purchases it. With the shel companies one can save time and money and can start trading the same day! Just ask for the list of shelf companies.

 

Income Tax Registration: Your company will need to be registered at the local Income Tax Office. We provide such a service for you as soon as the company is incorporated and we provide you with the necessary number so that your company can begin immediately with its trading.

 

VAT Registration: If you need to register at the VAT Authority, we also, can provide such a service to you.

 

VIES Registration: Registering with VIES is required by the EU Authorities and we can provide this service to you.

 

Income Tax Residency Certificate: If you need an Income Tax Residency Certificate we can provide this service for you as well.

 

Good Standing Certificate: You may need this to finalise some of your transactions. We can provide this for you.

 

Trustees, Certificates and Deeds

 

Christos Patsalides Corporate Management Ltd provides services relating to Trustee Shareholders, Members of the Board of Directors, Company Secretaries and Registered Office address, according to the clients’ needs and carries out the preparation and submission of all required applications for the issue of Certificates by the Cyprus Registrar of Companies, the preparation of Transfer of Share Deeds, Trust Deeds and Power of Attorneys.

 

Services in relation to the opening of bank accounts

In addition, Christos Patsalides Corporate Management Ltd provides “due diligence” services for the purpose of opening a corporate bank account in Cyprus and carries out the preparation and submission of all relevant forms as well as the preparation of bank instructions.

 

Christos Patsalides Corporate Management Ltd has established excellent long-term cooperation with all major bank institutions in Cyprus.

 

Tax Services

Through Christos Patsalides L.L.C.’s internal accounting department, our law firm is in a position to carry out the registration of Companies to the Cyprus V.A.T. and Income Tax, and the European Union V.I.E.S.  Register and also carries out book keeping for Companies Registered in Cyprus or abroad.  In addition, our law firm carries out all the necessary procedures and the preparation of forms related to double-taxation.

 

A full list of countries with which Cyprus has signed a double-taxation Treaty, can be found HERE.

 

Contracts and Escrow Agreements

Moreover, our law firm provides legal opinion and carries out the drafting of Contracts between Companies for mergers and acquisitions and Escrow Agreements.

 

 

Why Go Offshore

You can set up an offshore company in any of the offshore jurisdictions, so that you may plan your Corporate Tax optimization, by reducing the taxes you pay to the minimum.

An offshore company is the most common and appropriate way to do it!

Please use the left side toolbar for a choice of jurisdictions which are available to go through our company.

Our staff can advise you on how to plan your taxes and protect your assets and how to set up your Offshore company in whatever jurisdiction you may wish.