Step 1 – Approve the name
The first step towards establishing an Offshore Company is the approval of the Company name by the Registrar of Companies. Please provide us with more than one name in order of preference.
Company names are subject to the following requirements:
- Names may be expressed in any language that uses the Latin or Greek alphabet if the Registrar is in receipt of a Greek or English translation and the name is not deemed undesirable.
- Any name that is identical or similar to an existing company name is not acceptable.
- Any name that implies illegal activity or implies royal or government patronage is not permitted.
- The following words or their derivatives are restricted: Asset Management, Asset Manager, Assurance, Bank, Banking, Broker, Brokerage, Capital, Credit, Currency, Custodian, Custody, Dealer, Dealing, Deposit, Derivative, Exchange, Fiduciary, Finance, Financial, Fund, Future, Insurance, Lending, Loan, Lender, Option, Pension, Portfolio, Reserves, Savings, Security, Stock, Trust or Trustees.
- The following names or their derivatives and foreign language equivalents require consent or a licence: Bank, Trust, Building Society, Insurance, Assurance, Reinsurance.
- The suffix Limited or Ltd. denoting limited liability must be included.
Step 2 – State corporate features of your future company
You can either fill in the Instruction form or simply send us the details:
The following information is required for the registration of an Offshore Limited Company in Cyprus
- Principal activities in which the company may engage
- Authorised share capital
The Central Bank of Cyprus recommends that the Authorised Share Capital should be at least CY£10.000 divided into CY£10.000 shares of CY£1.00 each. At least CY£1.000 must be issued and fully paid upon incorporation. - Shareholders
A minimum of one shareholder is required, company or physical person. No bearer shares can be issued under Cyprus Law.
If confidentiality is considered necessary, the shares may be held by us, in trust for the beneficial owners
Apollo will provide the beneficial owners a properly created Trust Document accompanied by the Share Certificate. The public records kept by the Department of the Registrar and Official Receiver show only the names of the registered owners. As a matter of policy the list of offshore enterprises is considered confidential. - Directors
A minimum of ONE director is required. It can be a natural or legal person. It can be a non resident BUT……for the company to qualify as Cyprus tax resident the management and control must be in Cyprus, THEREFORE, if the director is or the Majority of Directors are Permanent Residents, then this forms strong evidence to assume that the management and control is taking place in Cyprus and therefore the Company qualifies as Cyprus Tax Resident. In order to increase the confidentiality you may opt for Apollo nominee director’s services. - Secretary - It is responsible for ensuring that the company complies with Company Law requirements. For this purpose it is useful and more practical to appoint a permanent resident well aware of the provisions of CAP 113 to ensure compliance of the statutory obligations of the company.
Once the details of your future company are received we send you an invoice with our banking coordinates, for settlement of our fees by Swift wire bank transfer, or by Credit Card.
Step 3 – We register your company with the features of your choice
Submission of all incorporation documents to the Office of the Official Receiver and Registrar of Companies including details of the directors, shareholders, registered office and company secretary.
Company comes into existence on the date the Registrar of Companies issues the certificate of incorporation.
First meeting of directors must be held to appoint the chairman of the board and define the seal and rubber stamp of the company.
A new incorporated company will take approximately 6 days; Time to Notarise and Apostil all documents, aproximatly 4/5days; Delivery by DHL 2-3 days.
The documents which will be included in corporate set are:
- Certificate of Incorporation in English Apostil.
- Certificate of Incorporation in Greek.
- Certificate issued by the Registrar of Companies certifying the Registered Office Apostiled.
- Certificate issued by the Registrar of Companies certifying the Directors and the Secretary Apostiled.
- Certificate issued by the Registrar of Companies certifying the Shareholders Apostiled.
- Certified Memorandum and Articles of Association of the company in Greek Apostiled.
- Certified translation of the Memorandum and Articles of Association in English Apostiled.
- Powers of Attorney for the Beneficial Owner(s) for one year Apostilled
- Income tax Certificate of Double Taxation Tax Treaty Certificate Apostiled.
- Certificate of Residence from the Income Tax Apostilled
- Resolution appointing the First Directors
- Declarations of Trust.
- Instruments of transfer of shares.
- Share Certificate (s)
- Two Sets of the Declaration of the Beneficial Owners and Indemnity Letter. These need to be signed, witnessed and one original set to be returned to us.
- Company Letterheads (sample)
- A copy bounded set of all corporate registration documents affidavit with Apostile.
- One round rubber company stamp.