Limited Liability Company

Procedure for setting up a limited liability company:

Setting up of an International Limited liability company in Cyprus requires the submission of an application to the local Registrar of Companies for:

  • approval of the name of the company, and then
  • filing of the Memorandum and Articles of Association

Name of the company

The name of the company has to be approved by the Registrar of companies. It is recommended to give a choice of three names in order of preference as each application is being checked against previously registered names before granting approval.
 

Filing of the Memorandum and Articles of Association

Following the approval of the name of the company by the Registrar of Companies, the next step is to prepare and file the Memorandum and the Articles of Association.

The Memorandum describes the activities that the company will carry out.

The Articles of Association specify the rules governing the internal management of the company.

This document must be filed in Greek language.

Requirements for shareholders

The minimum requirement is to have at least one shareholder for whom the following information is essential:

  • Full name and surname
  • Nationality
  • Residential Address
  • Number of shares to be held
  • Copy of passport

Note that if required, it is possible for shares to be registered and held in the name of nominee shareholders.

Share capital requirements

  • Minimum authorized and issued share capital is C£ 1.000
  • If the company will be maintaining office in Cyprus then it is recommended to have a share capital of C£ 10.000

Requirements for directors

The following information is required for each director:

  • Full name and surname
  • Nationality
  • Residential Address
  • Occupation
  • Copy of passport

Secretary and Registered office address

It is a requirement by the Cyprus Company Law to maintain a secretary and a registered office address in Cyprus.

We are able to offer secretarial services to our clients if required as well as providing registered office address.

Reporting requirements

  • On a yearly basis the audited financial statements and the tax returns must be filed with the Inland Revenue. This reporting information is not available to the public.
  • An annual return together with the audited financial statements must be filed to the Registrar of Companies