October 6, 2009

GENERAL INFORMATION ON THE REGISTRATION AND OPERATION OF COMPANIES
Method of registration: Articles of association (Memorandum and Articles of Association) must be signed by the shareholders of the company. Minimum number of shareholders – 1.
Form of company: Private Limited Company by shares
Legal provision: International Trust Law of Cyprus.
Requirements for the company name: The name must be one of the following endings: Limited or Ltd.
Restrictions on company names: Words: “Bank”, “Insurance”, “Global”, “National”, “Imperial”, “European”, “Cooperative”, “World-wide”, “Investment”, “Financial”, “Trust”, can not be included in a company name.
The deadline for registration of a new company: 6-8 weeks
Number of Directors: Minimum 1, of any nationality.
Number of shareholders: Minimum 1
Founding capital No restrictions. Standard capital – 1000 Cyprus pounds, the payment is not required.
Accounting Requires mandatory accounting and annual audit.
Type of shares: Nominal
Annual taxes and state. Fees: 10% of net profit
Data published in the Register: Name and registration number of the company’s registered address and a secretary, shareholders, directors.
Disclosure of ownership: No
Registered address: Local address is required by law.
Registered agent / secretary: The company secretary is required by law.
Treaty on avoidance of double taxation: Cyprus has an extensive network of treaties for the avoidance of double taxation.

The cost of registration and operation of companies.

OBLIGATORY (payable upon registration of the company)
Joined company: 470 EUR
Notarization: 90 EUR
International certification (apostille): 90 EUR
Legal fees, stamp duties and fees: 170 EUR
Preparation of certificates of the shareholders and the necessary protocols and forms: 80 EUR
Mandatory registration with the tax authorities: 100 EUR
Printing Company: 45 EUR
Delivery of documents by courier: 45 EUR
Total: 1090 EUR
ANNUAL COSTS *
The registered address and agent: 390 EUR
Company Secretary: 390 EUR
Annual taxes and state. Fees: 10% of net profit
Total: 780 EUR
TOTAL: 1870 EUR

* Expenditures for the first year of existence, the company paid for its registration.
Later the amount of EUR 780 is paid annually, starting from the second year of the company. Failure to pay the mandatory cost of maintaining the company is to be removed from the Registrar of Companies.

The amount 1870 EUR includes the following services: preparation of statutory documents and company registration, payment of registration fees and taxes, a certificate of registration with the apostille certificate of directors and company secretary, the Charter of the company, the certificate of a registered address and a secretary, licensed by the Central Bank of Cyprus for the registration of the company, holders of certificates stock ledger corporation, made of high-quality leather, two printing companies, delivery of documents by courier to the office of the company LAVECO LTD., providing a registered address and the Secretary for 1 year. All documents translated into English and notarized.
The above price does not include any hidden costs!

OPTIONAL COSTS
Nominee Director (individual): 990 EUR
Nominee: 210 EUR / year
Annual Audit: Depends on the number of transactions
Notarized special power of attorney: 290 EUR
Notarization and Apostille: 90 EUR
Certificate of Good Standing with Apostille: 55 EUR
Certificate of Tax Residence: 160 EUR

To buy ready-made company in Cyprus. For details and a list of shelf companies, please contact our office or visit our site dedicated Cyprus. The cost of ready-made companies dependent on the imposed optional services.

OFFER READY-MADE COMPANIES
Minimum package: Finished the company with its own director, registered address and agent: 1870 EUR
The annual cost of maintaining the company (registered address and agent): 790 EUR