Key Features
| General |
| Type of entity: |
Private LLC |
| Type of law: |
Common |
| Shelf company availability: |
Yes |
| Our time to establish a new company: |
1-2 weeks (depending on registrar of companies) |
| Fixed annual levy: |
350 EURO |
| Corporate taxation: |
12,5% |
| Double taxation treaty access: |
Yes |
| Share capital or equivalent |
| Standard currency: |
EURO |
| Permitted currencies: |
Any |
| Minimum required: |
no minimum legal requirements |
| Minimum recommended: |
1000 EUR |
| Directors |
| Minimum number: |
1 |
| Local required: |
No, but advisable for purposes of tax residency |
| Publicly accessible records: |
Yes |
| Location of meetings: |
Anywhere, but Cyprus is advisable for the purposes of tax residency |
| Shareholders |
| Minimum number: |
One |
| Maximum number: |
50 |
| Publicly accessible records: |
Yes |
| Location of meetings: |
Anywhere |
| Company Secretary |
| Required: |
Yes |
| Local or qualified: |
No, but Cyprus is advisable for tax residency and compliance |
| Accounts |
| Requirement to prepare: |
Yes |
| Local Auditor: |
Yes |
| Requirement to file accounts: |
Yes |
| Publicly accessible accounts: |
No |
| Other |
| Requirement to file annual return: |
Yes |
| Change of domicile permitted: |
Yes |
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. If the word “Group” is to be used in the company name the minimum number of corporate shareholders is two.
- The following names or their derivatives and foreign language equivalents require consent or a license: 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 following information which is required for registration of a Private Limited Liability Company in Cyprus:
Principal activities in which the company may engage
Please state the principal activities of your future company.
Authorised share capital
There are no legal requirements as to the minimum or maximum share capital of a Cyprus private limited liability company. However, for practical purposes, it is recommended that the authorised share capital would be at least of € 1000 divided into 1000 shares of €1.00 each.
Shareholders
A minimum of one shareholder is required, corporate or a physical person. The maximum number of shareholders of a Private LLC is fifteen. 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 with 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.
Directors
A minimum of ONE director is required. It can be a corporate or a physical person. It can be a non-resident BUT……for the company to qualify as a 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
The Secretary 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 Registrar of Companies and Official Receiver 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 adopt the seal and rubber stamp of the company.
Incorporation of a new company will take approximately 1-2 weeks. Time to notarise and Apostille all documents will take approximately 4-5 days. Delivery by DHL 2-3 days.
The documents which will be included in corporate set are as follows:
- Affidavit and legal copies of:
- Certificate of Incorporation in English
- Certificate of Registered Office in English
- Certificate of Directors and Secretary in English
- Certificate of Shareholders in English
- Memorandum and Articles of Association in English
- Minutes of First Meeting
- Appointment of the First Director
- Certificate of Incorporation in Greek
- Certificate of Incorporation in English, Apostilled
- Certificate of Registered Office, Apostilled
- Certificate of Directors and Secretary, Apostilled
- Certificate of Shareholders, Apostilled
- Memorandum and Articles of Association in Greek
- Memorandum and Articles of Association in English
- Share certificate(s)
- Resolution of Subscriber
- Minutes of First Meeting
- Register of Directors and Officers
- Register of Members
- Power of Attorney for one year, Apostilled
- Declaration of Trust
- Resignation Letter by Director
- Resignation Letter by Secretary
- Instrument of Transfer of Shares
- Two Nominee Agreements (one to be signed and returned)
- Due diligence questionnaire (to be filled in signed and returned)
- Company stamp
Once the documents are ready the order is dispatched to you immediately by any courier service.
|
Cyprus Company/Branch incorporation Package:
(prices are stated in EURO, VAT included)
|
|
Certificate of Incorporation in English, apostilled
|
3000
|
|
Certificate Registered Office, apostilled
|
|
Certificate of Directors and Secretary, apostilled
|
|
Certificate of Shareholders, apostilled
|
|
True copy certified by Registrar of Companies of Memorandum and Articles of Association in Greek
|
|
Translated True Copy of Memorandum and Articles of Association in English
|
|
Bound Set of Corporate documents, apostilled
|
|
Power of Attorney for the Empowered person/Beneficial Owner(s)for one year, apostilled
|
|
Resolution of Director(s) for Power of Attorney
|
|
Minutes of first meeting
|
|
Resolution appointing the first Director(s)
|
|
Acceptance Letter by Director
|
|
Acceptance Letter by Secretary
|
|
Register of Directors and Secretary
|
|
Register of Shareholders
|
|
Share Certificate
|
|
Declaration of Trust
|
|
One round rubber company stamp
|
|
Mandatory Fees 1st year
|
|
Annual Levy for 1st year
|
500
|
|
Declaration of Employer IR7 for the first year
|
|
Annual Return HE32 for first year
|
|
Registration on new Taxpayers
|
|
Shelf company keeping
|
50
|
|
Consequent year
|
|
Annual Maintenance
|
2500
|
|
Nominee Director, including Apostilled Power of Attorney
|
|
Nominee Shareholder
|
|
Nominee Secretary
|
|
Registered Office
|
|
Annual Levy for current year
|
|
Declaration of Employer IR7 for the current year
|
|
Annual Return HE32 for current year
|
|
Provision of Nominee Director (extra one )
|
500
|
|
Provision of Nominee Shareholder (extra one )
|
500
|
|
Provision of Nominee Secretary (extra one)
|
500
|
|
Annual Accounts
|
|
Annual Accounts
|
From 100 per hour
|
|
Dormant Accounts preparation and filing
|
900
|
|
Additional Services
|
|
Name approval
|
80
|
|
Certificate of Directors and Secretary
|
300
|
|
Certificate of Shareholders
|
300
|
|
Certificate of Registered address
|
300
|
|
Certificate of Incorporation
|
300
|
|
Certificate of Incumbency
|
300
|
|
Certificate of Good Standing
|
300
|
|
Certificate of dissolution
|
300
|
|
Tax residency Certificate
|
350
|
|
Tax Clearance Certificate
|
400
|
|
Power of Attorney, including resolution
|
200
|
|
Power of Attorney, notarized only, including resolution
|
250
|
|
Change of Directors and Secretary including certificate
|
350
|
|
Change of Shareholders including certificate
|
350
|
|
Change of Registered address including certificate
|
350
|
|
Change of company Name, including Certificate
|
350
|
|
Increase of share capital, including Certificate of Share Capital and Certificate of Shareholders
|
500
|
|
Change of Beneficial Owner
|
200
|
|
Share Certificate
|
50
|
|
Struck Off
|
500
|
|
True copy certified by Registrar of Companies of Memorandum and Articles of Association
|
300
|
|
True Copy of document certified by Lawyer
|
50 each
|
|
Bound Set (affidavit only)
|
250
|
|
Notarisation
|
100
|
|
Apostille
|
150
|
|
Signing documents by nominee (up to 10 signatures per document)
|
50
|
|
Signing documents by nominee (for each signature past 10th)
|
15 each
|
|
Signing of Financial Statement by nominee (not our auditor)
|
200
|
|
Signing of forms for opening of bank account
|
200
|
|
Revision fee (simple document)
|
25
|
|
Revision fee (complicated documents and deals)
|
20 per hour
|
|
Restoration of director/ secretary / shareholders / registered address
|
350
|
|
Official Translation
|
85 per page
|
|
Drafting (simple document)
|
From 50 per page
|
|
Drafting (complicated documents) for the companies under our administration
|
300 per hour
|
|
Drafting (complicated documents) for the companies which are not under our administration
|
400 per hour
|
|
Change of Administration
|
1500
|
|
Revision Fee for transfer of any company from Apollo which would cover time spent on transfer procedure and revision of company files before the transfer
|
200
|
|
Company Search
|
From 250
|
|
VAT Registration
|
500
|
|
EORI Registration
|
500
|
|
VIES Registration
|
500
|
|
Courier (DHL) dependent of the weight of package and the distance minimum
|
From 100
|
|
Local courier, depends of the weight of package and the destination
|
From 30
|
|
|
*Please kindly be informed that apostille is not included in prices mentioned above.
**Please note that prices are reduced and are negotiable for professional clients seeking volume purchasing. Contact the Seychelles head office for further details.
Contact the Seychelles head office for further details.
