Company Formation
We undertake the formation of companies (and other legal arrangements e.g. partnerships) in Cyprus and in other jurisdictions, as well as the registration of overseas company branches and the re-domiciliation of foreign companies in Cyprus.
Our services include among others:
- Assistance in securing a suitable company name;
- Assistance in establishing the new company, and filing with the authorities all the necessary documents;
- Assistance in drafting, if required, a tailored memorandum and articles of association;
- Providing of directors, nominee shareholders, company secretary and registered office address;
- Arranging for issuance of statutory certificates and share certificates for the newly established company;
- Assistance in arranging for the provision of registered agents, authorized representatives and any other required officials, where relevant.
A few reasons why Cyprus could be a preferred location of setting up a company:
- EU member state
- Evolving international financial center
- Highly skilled and educated professionals
- High standard of living
- Tax reasons, including:
- OECD compatible tax system
- Extensive double tax treaty network
- Comparatively low corporate tax rate
- Attractive IP regime
- Tonnage tax for shipping companies
- Tax incentives e.g. exemption on disposal of securities.
The following types of legal entities are available in Cyprus:
- Private Limited Company
- Public Limited Company
- Company Limited by Guarantee
- Branches of Foreign Legal Entities
- Societa Europea (European Company)
Trusts
A trust is an arrangement where certain assets/property are placed by someone (the Settlor) under the custody of a third party (the Trustee), and are held by such Trustee for the benefit of another party (the Beneficiary). There is also the option for the Settlor to appoint a Protector for overseeing the Trustee.
Cyprus International Trusts are commonly used for wealth/assets protection purposes, particularly in family wealth situations, but also in commercial/business transactions, as well as for charitable and other purposes.
Main benefits of a Cyprus International Trust (CIT)
- Protection against the application of foreign laws.
- Asset protection.
- Settlors can relocate to Cyprus after the establishment of the trust.
- No obligation to set a dissolution date.
- No withholding taxes on distributions of income or capital from a CIT to non-resident beneficiaries.
- Ability to exercise control over Trustees (via the appointment of a Protector).
- Minimum administrative costs.
Our services include among others:
- Advice about the creation of a CIT;
- Assistance in drafting all required legal documents;
- Provision of Trustee services;
- Provision of Protector services if required;
- Trust administration and related management services.