Statutory Advantages

Cyprus has witnessed a rapid expansion of the corporate services sector. This has been driven mainly by one of the favourable corporate tax regimes in the EU, providing many advantages all within a legislative and regulatory environment in full compliance with EU and OECD requirements.

Key characteristics of a Cyprus Company are:

• A minimum of one shareholder is required;
• Nominee shareholders are allowed and widely used;
• A foreign corporate or individual shareholder is permitted;
• A minimum of one Director and One Secretary is required;
• A corporate entity, foreign or domestic, may act as a Director;
• Directors information is public record;
• A company must have an issued share capital, but there is not a minimum share capital requirement;
• Fees are paid on creation of the authorised share capital;
• It is customary to have an authorised share capital of €5,000 and an issued share capital of €1,000;
• Different classes of shares may be issued;
• Shares are issued in registered form only, bearer shares may not be issued;
• The Company must have a registered office address in Cyprus;
• Meetings of Shareholders may be held abroad;
• Written unanimous share resolutions may be used;
• Audited annual financial statements and annual returns must be submitted to the Registrar of Companies in Greek and English;
• Beneficial ownership information is not disclosed to any regulatory authority;
• Registered shareholder information is part of the public record.