General
- An application is made to the Registrar of Companies for approval of a company name. An approved name can be reserved for a period of 6 months. An online name search is available in order to check whether specific names are already reserved / used by other entities at http://www.drcor.mcit.gov.cy/portal/page/portal/Eforos/dttSearch_en. (Usually the name approval procedure involves a few attempts in order for both the applicant and the Registrar to be satisfied).
- Once the name is approved an application is submitted to the Registrar specifying:
- The authorised share capital of the company.
- The share capital to be allotted upon registration.
- The initial shareholders and their respective share allotments (subscribers to the Memorandum).
- The Memorandum & Articles of Association of the Company.
- The Director(s) and the Secretary of the Company.
- The address of the Registered Office.
- On incorporation a number is allocated to the Company and the following certificates are issued by the Registrar:
- Incorporation (specifying company name and date and number of incorporation).
- Directors’
- Shareholders’
- Registered Office
Step by step
- On first contact we ask from new clients to fill in our KYC questionnaire (for companies KYC - companies) and to submit certified copies of passport, utility bills bank references.
- Once we are satisfied with the outcome of the KYC, an application for the formation of company is filled in by the Applicant.
- An application is submitted to the Registrar for the approval of the Company name.
- Once the name is approved the Memorandum & Articles of Association are signed by the initial shareholder(s) and filed together with an application with the Registrar.
- Once the Company is incorporated the Memorandum & Articles of Association and the Certificates of the Registrar are sent to the applicant.
|