Companies' Formation |

As from 1st October 2004, the Council of Ministers has approved the complete freedom of the policy governing direct investments from non-residents in Cyprus. Consequently, non-residents who wish to establish a Company in Cyprus or acquire shares in existing Cyprus companies, or otherwise to invest in or from Cyprus, no longer require approval by the Central Bank of Cyprus. Such applications should now be addressed directly to the Department of Registrar of Companies and Official Receiver.
A company is recognized in law as a legal entity, separate from the persons who form the company and/or the directors and shareholders. It has a separate legal existence and is separate and distinct from its owners. Private Limited Companies are considered as one of the most easily managed and cost effective business structures.
Under the Cyprus Law the legal forms of Companies are as follows:
1. Company Limited by shares which is subdivided into:
(a) Public companies and
(b) Private companies which are also subdivided into:
i.Exempt Private Company
ii Limited Private Company
2. Company Limited by guarantee
The Partnerships and Business Name Law, Chapter 116, also provides for two general types of Partnerships:
a) General Partnership
b) Limited Partnership
Further, section 347 of the companies Law Chapter 113 provides for the registration in Cyprus of foreign companies under the form of a branch.
We provide all the necessary procedures for the formation of companies in all major jurisdictions, including Cyprus, British Virgin Islands (BVI), Gibraltar, UK, Marshal Islands, Belize, Antiqua, Malta, Bahamas, Cayman Islands, Panama, Seychelles, Jersey, Isle of Man and provide clients with a full set of original incorporation documents.
Our incorporation procedures are designed in such way as to make the formation process as quick and efficient as possible.
Related to the process of formation and administration of an international business company in Cyprus, we can offer:
  • Company Incorporation                                                                         
  • provision of a Registered Address                                                             
  • provision of a Company Secretary                                                          
  • provision of a Resident Director (Optional, but advisable for tax reasons)
  • provision of Nominee Shareholders (Optional)
  • opening of Bank Account in Cyprus                     :
  • preparation of directors’ and shareholders’ meetings
  • arrangements for Annual General Meetings and
  • maintenance  of the books, records, and registers.
Information required for a company formation
Company Name: Please provide us with 3 names of your preference to check availability.
Shelf companies are also available in some jurisdictions if you need a company immediately. Shelf companies are regular companies and as such the same as companies to be incorporated, except that shelf companies have already been incorporated previously and are ready to engage in business immediately. We can provide you with a list of shelf companies upon request.
Company Activity:
Resume of the company activity with sufficient information on the company, including information regarding main business activity, expected turnover, expected movements on the bank account etc.
Personal Information:
  • Some basic information about your current company and its activities;
  • Full name and addresses of the beneficial owners/shareholders;
  • Full name and addresses of directors if you will provide your own;
  • Copies of passports of all beneficial owners/shareholders, directors, and bank account signatories validated by AuditLine Limited officer or a notary public.
Utility Bill:
Original of utility bill (electricity, water, telephone, cable TV or gas) confirming client's current address (less than 3 months old).
Personal Bank Reference Letter:
A financial reference letter from a bank. The letter should be on the financial institution's letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email etc.).
If a bank account is requested:
  • Name of the bank with which you wish to open an account (a list with our banking partners can be provided upon request);
  • Currency and type of account;
  • Names of the signatories to the account, and the way in which they will sign (jointly, solely, etc.).
These documents are solely for AuditLine Limited use and will be kept secure and confidential. This request is for compliance purposes only and our client’s reputation is not being questioned. Furthermore and according to the international regulations on the prevention of drug trafficking and money laundering, we are strictly implements Due Diligence guidelines and comply with the industry standard of “Know Your Client”.
A standard ready company package takes around one week to prepare and deliver, also depending on the jurisdiction. Bank accounts will take from three days up to three weeks to become fully operational. Custom orders take 3-8 weeks to complete depending on jurisdiction.
Payable on the incorporation of a company
Authorised share capital
€102,52 plus 0.6%
Issued share capital
No stamp duty is due when the shares are issued at their nominal value. There is a flat duty of €17,09 if the shares are issued at a premium.
Payables on subsequent issues (increases)
Authorised share capital
0,6% on additional amount of share capital
Issued share capital
A flat duty of €17,09 on each issue is payable, regardless if the shares are issued at their nominal value or at a premium
Change in the company’s name
Application for registration of a business name
Filling of the Annual Return
Filling of an overdue Annual Return
Application for registration of either a general or a limited partnership
Notification of a registered mortgage on immovable property in Cyprus irrespective of the value concerned
The table below shows details of the rate of duty payable on a certain documents:
Type of Document
Duty to be paid
Receipts for amounts from €3.42 to €34.17
Receipts for amounts from €34.17
Contracts for amounts up to €170.860,14
Contracts for amounts over €170.860,14
0,2% plus €256,29 up to a maximum levy of €17.086,01
Contracts without fixed amount
Letters of guarantee
Letters of credit
Bills of exchange (payables within three days on demand or at sight)
Customs declaration documents
€17,09 to €34,17
Bills of lending
Special power of attorney
General power of attorney
Certificated copies of contracts and documents
Estate administration document
  • Transactions that fall within the scope of reorganizations are exempt from stamp duty.
  • Contracts relating to assets situated outside Cyprus or business dealings that take place outside Cyprus are also exempt from stamp duty.