The most important legal requirements of a Cyprus Private Company
The following are the most important legal requirements of a Cyprus Private Company Limited by Shares (LTD), which is the most common type of a legal entity in Cyprus.
Your company’s name must be approved by the Cyprus Registrar of Companies. It can’t be too general or similar with existing Cyprus companies, and must end with Ltd or Limited. The procedure for the approval of the name is easy and fast and usually will be completed in 3 days.
There is no minimum paid up share capital required. However, the standard authorised share capital is €1.000 (1.000 shares of 1 each). Class of shares can be registered shares, preference shares, redeemable shares and shares with or without voting rights.
Cyprus companies (private companies) have at least one shareholder. Shareholders may be either corporate or physical persons (individuals), Cyprus or not-Cyprus residents.
The registered office of the company must be in Cyprus. This is the address where all the company's documentation is kept. We can provide a registered office address for you.
The company must have at least one director, and they can be either corporate or physical persons (individuals). Although there is no requirement that the director(s) are Cyprus residents, it is recommended that the majority of the board of directors to be Cyprus residents, so that the company to be considered a tax resident in Cyprus.
A Cyprus company must appoint a company secretary upon its incorporation. Company's secretary can be an individual or a legal entity.
All companies registered in the Republic of Cyprus must pay at the Registrar of Companies an annual levy of €350.
Accounting & Audit
Cyprus companies are required to prepare annual financial statements and file accounts.