Cyprus company registration FAQ

Are the "nominee services" necessary?

Using nominee shareholders is advisable if you require confidentiality and anonymity. If you take up this option, you will be provided with a trust deed, showing you to be the owner of the shares which are held in trust for you by the nominee shareholders. You will also be given a signed and undated instrument of share transfer, which enables you to transfer the shares at any time in your name or in the name of anyone you choose. Appointing Nominee directors is also advisable for tax residency purposes. A Cyprus IBC must be able to prove at all times, that it is managed and controlled from within Cyprus in order to be considered resident in Cyprus and thus benefit from the country's favourable tax regime.

Do I have to come to Cyprus to set up my company or to open the bank account?

In a word, no. Once we have your instructions, we will proceed with the registration of your company, irrespective of whether nominee services are required or not. Alternatively, if you choose to set up a fully fledged office on the island, you can move to Cyprus with your family, as director of a Cyprus registered IBC (subject to certain conditions). Or you can set up a 'virtual' office and have all the advantages of maintaining an office in Cyprus but at minimum cost.

Is a Cyprus IBC able to open an office in Cyprus?

Yes. Work permits and residence permits are required though for non-EU nationals who may wish to live in Cyprus and work at the company's office.

Is there a minimum capital requirement for setting up an IBC?

No and there's no need to deposit the company's paid up share capital in the company's bank account either. Because the registration fees and company set-up fees usually exceed the share capital amount, the share capital is deemed to have been paid.

What do the 'off the shelf' company expenses include?

  • all company registrar expenses
  • registration of the company
  • a full set of company certificates (Certificate of Incorporation, Certificate of Directors and Secretary, Certificate of shareholders, Certificate of the Company's Registered Office, the Company's Memorandum and Articles of Association)
  • company first minutes and company rubber stamp
  • Nominee services
  • Trust Deed and Instrument of Share Transfer

The company's registered office and secretary costs are included in the company's first year of operation of the company.

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