- Ultra-fast company transfer
- All clear - fixed cost - no surprises
- Easy - just pick the company and tell us when you coming
- Good relationship with most important banks
- Unlimited bank accounts - no caps/no limits
- Foreign bank accounts
The Republic of Cyprus is an island country in the Mediterranean Sea, just a little south of Turkey. Since 2004 it has been a Member State of the European Union. Cyprus is also a member of the Commonwealth. There are two official languages in the island: Greek and Turkish. The official currency is euro.
Cypriot economy is classified as high-income. The country is very investor-friendly due to attractive tax regime and numerous fiscal incentives, especially in the audio-visual industry. A considerable section of Cypriot exports are medical equipment and medications. Obviously, travel industry is also very important to the country’s economy, with the annual number of tourists reaching 3.9 million. The island also benefits from the existence of two deep-sea ports.
Establishing a new company is Cyprus takes approximately a week. The most common business structure is private limited liability company. Cypriot company law is based on the legal provisions of the United Kingdom, which is due to the fact that the country is a former British colony. The foundation documents are Memorandum and Articles of Incorporation.
There is no minimum share capital requirement with regard to private limited liability companies. Apart from a director, a business entity needs to appoint a secretary. The director and secretary can be the same person. All companies are obliged to pay an annual licence fee in the amount of 350 EUR under pain of removal from the Cypriot business register.
Another obligation regarding the business register is submission of annual financial statements together with auditor’s report.
A company is considered to be a tax resident of Cyprus if it is controlled and managed from the territory of the country. For this reason, most appointed company directors are Cypriot citizens. The republic has a very attractive corporate tax rate: 12.5%. What is more, profits obtained through disposal of dividends and securities as well as foreign exchange gains are exempt from taxation. There are several categories of tax-deductible expenses, such as those connected with research and development activities.
Cyprus is one of the fastest-growing Eurozone economies. Attractive tax regime which catch the attention of investors make the country a thriving financial centre. Business advisory and other services, including tourism, remain the foundation of the state’s economic development. The country’s main trading partners are the United Kingdom and Greece.
Cyprus is a unitary presidential republic. The President is not only the head of state but and also the head of the government. Since 1974, the island of Cyprus has been divided. A section of the island is controlled by the Turkish Republic of Northern Cyprus that is not recognised internationally. As of today, the attempts to unify the island has remained futile.
Cypriot banking sector was strongly affected by the 2013 Eurozone crisis and was included in the IMF bailout programme, but after implementing a plan of reforms and restructuring, financial institutions have restored their credibility. The biggest banks in the country are Bank of Cyprus, Hellenic Bank, and RCB. Together they control almost 70% of deposits.
All companies are equal before the law.
A good formation agent is what makes a difference.
ShelfCompanies24.com is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.
What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.
Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.
Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.
Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.
We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.
For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.
Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.
Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.
The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.
Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.
We needed to start building our presence in Poland fast, and a ready-made company seemed like the best option. We got presented with several location choices, picked the company name, signed some paperwork and were good to go. We got a company that was VAT-registered, with multiple bank accounts, just as we wanted.
Thank you for all the help. Your after-sale support is what sets you apart from the competition. It was important for me to get comprehensive company services at one place, with accounting, banking, tax issues handled for me, etc. I got everything I needed.
I really recommend this website if you are looking for a shelf company in Poland. The companies are already registered, with no history and all documentation in place. This is really a great solution if you want to start your business ASAP. And the range of available post-sale services is just amazing.
Thank you for your support! Your advice was invaluable. Polish tax and legal provisions can really be a pain in the neck, but with your help I am able to get going.
Not only did we need a new company, but also someone to take care of our accounting and compliance. Now, we must say ShelfCompanies24 helped us to transition smoothly into the Polish market. Good work, guys!
The company indeed delivers what it promises. I was able to start business in less than no time, with all the formalities taken care of by a super nice team of people. This is a good stop if you want a ready-made company operating in Poland.
Adrianna has completed a master degree in law at European School of Law and Administration. At ShelfCompanies24.com Arianna is responsible of customer service, logistics as well as relationships with the banks.