How to Form a Company in Cyprus - by Polyvios Polyviou

General

  1. 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).
  2. 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.
  3. 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

  1. 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.
  2. Once we are satisfied with the outcome of the KYC, an application for the formation of company is filled in by the Applicant.
  3. An application is submitted to the Registrar for the approval of the Company name.
  4. 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.
  5. Once the Company is incorporated the Memorandum & Articles of Association and the Certificates of the Registrar are sent to the applicant.