Cyprus Companies

O.G Legal LLC provides a range of corporate services that you may find of interest to your business. Our experts are available to assist you to structure the management bodies of your companies in such a way as to ensure that they are both legally compliant and that their decisions are legally valid and enforceable.

Setting Up

A Company may be created in Cyprus as a legal entity by being registered under the provisions of the Companies Law, CAP 113. The basic characteristic of a limited liability Company is that the shareholders’ liability is limited to the nominal value of the shares subscribed by them. Companies with limited liability by shares may be private or public.

The type of company that is adopted almost exclusively by foreign investors who are interested in creating a Cyprus registered company is the private Company limited by shares. The Company may be formed as holding, property or general trading company. A private company is one whose articles, restrict the right of transfer of shares, limit the number of its members to 50 and prohibit any invitation to the public to subscribe for any shares or debentures of the Company, whereas in the case of a public company these restrictions/limitations do not apply.

Key Points

  • Only a few days to incorporate
  • Only 1 director is required – can be an individual or corporate
  • Directors can be of any nationality
  • There is no requirement for Cypriot residency for directors, although a resident nominee director is recommended for management and control evidence

Management and Control Criteria

To be eligible to benefit from the favourable tax regime and treaty network, a company should be resident for tax purposes in Cyprus. Under Cyprus Tax Law, a company is a resident tax payer in Cyprus if its ‘management and control’ is exercised in Cyprus. Merely the incorporation of a company in Cyprus will not suffice. It is possible that a company which is merely incorporated in Cyprus is managed and controlled in another tax jurisdiction. If that is the case, then the foreign tax authorities may re-classify the company as being resident in that foreign jurisdiction.

A company should be in a position to demonstrate that its management and control is in Cyprus when the company pays particular attention to the following matters:

  • There should be a majority of directors resident in Cyprus and they should form a quorum for a board meeting.
  • All Board meetings should be held in Cyprus and they should be properly convened and minuted.
  • All major policy decisions for the company should be taken at theses Board meetings.
  • All major contracts should be signed in Cyprus with the local directors being involved in such signings.
  • Wide and general powers of attorney to non-residents should be avoided.
  • The company’s bank accounts should be managed from Cyprus.

Custom made companies

If you are planning on setting up a company in Cyprus the first thing you have to do is to register your Cyprus company, a relatively simple procedure and normally accomplished within a few days. There is also a highly effective system of services to assist those wanting to start a Cyprus Company, such as advisory services, legal systems, accountancy and banking.


  • The first stage is an application seeking the approval of the name that has been proposed for the new company.
  • Once the approval is received we prepare the Memorandum and Articles of Association for the new company, indicating inter alia, the company s activities, the names of the initial shareholders, the authorized share capital and the number of issued and paid up shares that each shareholder holds.
  • It is possible for us to provide nominee services for shareholders, directors, secretary and even provide a registered office; many clients prefer to do this as it means that they retain their anonymity. In the case of nominee shareholders, trust deeds are created by us, under the deed a member of our firm or one of our specially created nominee service company s are appointed as a trustee to hold the shares on trust for the beneficial shareholder(s).

Documents we provide

Following registration of the company, the following documents are produced:

  • Memorandum and Articles of Association in the official Greek language (English translations are prepared by our firm)
  • Certificate of incorporation
  • Certificate of registered office
  • Certificate of directors
  • Certificate of shareholders

Shelf Companies

Shelf companies are companies we have pre-registered which are ready to be acquired and traded instantly. This will accommodate clients who need to trade immediately without going through the anxiety of waiting for their companies to be incorporated.

Our shelf companies are dormant companies with clean histories. Officers and shareholders can be changed at the minimum time required, without any interruption to the commencement of the business.

All of our Cyprus ready made companies:

  • Are Private Limited Liability Companies
  • Have wide objects which allow for many business activities
  • Can operate globally
  • Offer shareholders limited liability
  • Can have a sole director and sole shareholder
  • Have a company registration number available immediately

Procedure to acquire a ready made company:

Upon signature of official forms by the new directors and shareholders in which they consent to act, the ready-made company is transferred over and is ready to trade immediately.

The following documents will be produced:

  •  Memorandum and Articles of Association in the official Greek language (English certified translations are prepared by our firm
  • Certificate of incorporation
  • Certificate of registered office
  • Certificate of directors
  • Certificate of shareholders
  • Undated, signed share transfer documents and undated signed resignation letters by nominee shareholders and nominee directors respectively (if nominees are opted)
  • Declaration of trust by the nominee shareholders
  • Deed of indemnity whereby the beneficial owners indemnify the nominees for their actions

Cyprus Branch Office

In Cyprus, the procedure for setting up a branch office of a foreign company is, in accordance with the Cyprus Company Law, done through submitting the foreign company’s articles of association to the Registrar of Companies. The branch must trade under the same name as the foreign business (it must have the same name as the parent company).

Once a branch is registered, its financial statements translated into Greek are submitted to the Department of the Registrar of Companies. A branch of a non-resident company must appoint a resident individual or a company to represent it in its dealings with the tax authorities.

The representatives may be held jointly and severally liable for the tax debts of the permanent establishments of non-resident entities, which they represent. To register a branch, evidence of the parent company’s existence has to be provided, as well as certified copies of the Articles or Statues, the names of the directors, the share capital, the registered office, and the names of the representatives who will act for you. From a tax point of view, branches are permanent establishments of non-resident companies and a Cyprus branch is not a separate legal company from its parent.

The Cyprus Branch is taxed 10% on all profits made in Cyprus (like a Cyprus local Company), and for any taxation of the Cyprus Branch elsewhere, it will depend on double tax treaties.

Bank Account

Our Office provides an introduction and consultancy services. We assist our clients in all their banking requirements with the most reputable banks in Cyprus and a single point of contact for all their banking requests. We can assist our clients in taking their decision on selecting the most suitable bank and banking services in order to achieve effective tax planning and asset protection strategies.

We can offer you a selection of banks with user friendly Internet Banking service, which gives you direct control over your money, from anywhere in the world, anytime.

Our services include preparation and submission of application forms, dispatch of instruments and activation of access codes in order for you to manage your money remotely, from wherever you are. You can also give instructions to top up, sell or switch many of your International investments online.

Banking Secrecy

Banks in Cyprus have prudent, sound regulations in place, geared towards safeguarding the deposits and maintaining their confidentiality. All your personal data is subject to modern data protection legislation. Additionally banks follow the principle of secrecy. Bank privacy is a legal principle under which banks are allowed to protect personal information about their customers.

Secretarial Services

Our Office provides a full range of secretarial services, including Minutes, Power of Attorneys, Annual returns, etc.

Registered Office

Each company must have a Registered Office in Cyprus in accordance with the provisions of the Companies Law, Cap 113. The registered office is the address where writs, notices and other official documents can be served on the Company.

We can provide this service at our premises.

Nominee Services

Our Office provides nominee directors, shareholders and secretary in order to guarantee Cyprus Tax Residence and confidentiality to the beneficiary owners/clients. However, we can only provide nominee services if the beneficiaries sign and return to us Nominee Director and Shareholder Agreements which dispense us of any responsibility for the acts of the beneficiary owners/clients, the only purpose of the nominees being to provide confidentiality and tax residency

Virtual Office

Our Office provides the services and infrastructure to run your business professionally – without the costs of a full-time physical office. That’s why virtual offices have become the smart business choice for start-ups and multinationals alike.

  • Telephone: A local, dedicated telephone line is provided.
  • Fax: A local, dedicated fax number is provided and faxes are forwarded according to clients specifications, via fax or email.
  • Mail Forwarding: A business address is provided in order to enhance the image of the company. Mail is collected daily and then forwarded according to client instructions, via fax, email or post within 24hrs.
  • Internet Services: Internet presence is offered in the form of a personalized email address.

Corporate Identity

Make sure your company makes a significant impression at the very first glance. A “corporate identity” is a concept that groups everything that makes your business unique. A professionally designed corporate identity results in a much profitable marketing. Working closely with our associates, we can provide you with consulting as to how you can improve your business but can also carry these ideas through in style.

Our services include:

  • Corporate presentations
  • Logo Design, Letterhead, Business Cards, Envelopes
  • Website Design
  • Online marketing materials
  • Company brochure
  • Online Store Creation & Payment Systems
  • Product launch strategy
  • Identity Development
  • Corporate Branding
  • Colour Scheming
  • Idea Generation
  • Brand conception, development, creation, activation

We research the insights of your industry, study and explore trends through creative workshops with you, define the tone of voice and the internal communication of values and finally execute the end-customer journey through consistent communication.

Please contact us for further information on the matter.