10 steps to incorporating in Cyprus
- Prior to Cyprus company incorporation, our Client i) settles Healy Consultants’ incorporation fees, ii) signs and returns our Client engagement letter and iii) provides us all the required due diligence documents;
- Healy Consultants drafts a detailed Cyprus engagement project plan. This plan will map out, week by week, each step to engagement completion, optimizing transparency and settling Client expectations;
- Healy Consultants assists our Client to decide on i) proposed company’s name and ii) the optimum corporate structure including directors and shareholders;
- Healy Consultants will then reserve the company name and obtain the initial registration approval from the Registrar of Companies. After this, Healy Consultants will courier all registration documents to our Client to sign and send back and then we will have a lawyer prepare the Memorandum and Articles of the company and notarize the same;
- Healy Consultants will collect all necessary due diligence from our Client and details of the proposed company’s activities and then proceed to open a corporate bank account for the company with one of the recommended banks in Cyprus and then if required, deposit the required initial capital into the corporate bank account and obtain a receipt;
- To support incorporation in Cyprus, Healy Consultants provides our Client with a local business address in Cyprus for invoicing purposes, together with telephone, fax and email support. Healy Consultants will also assist our Client to locate business premises and recruit local staff;
- Next, Healy Consultants will submit documents to register the company for tax with the Ministry of Commerce and obtain the tax identification number on behalf of our Client;
- After that, Healy Consultants will register the company for VAT at the Ministry of Finance;
- Healy Consultants will then register our Client’s employees for social contributions at the Ministry of Labor;
- Following completion of the incorporation process in Cyprus, Healy Consultants will courier a full company kit to our Client, including original documents, unopened bank correspondence and a Client feedback survey.
Frequently asked questions
What is the minimum number of shareholders and directors required to incorporate a company in Cyprus?Only 1 shareholder and 1 director is required to incorporate in Cyprus.
What kind of entity is optimal if I want to incorporate a holding company in Cyprus?Our Clients should incorporate an LLC in Cyprus for holding purposes.