Why Starting a Business Online in Cyprus is Easier Than Ever

In today's fast-moving business world, entrepreneurs are always looking for simplicity and convenience in all aspects of their business. That is why we have created a unique online platform that will simplify the procedure of setting up a company in Cyprus.

Our platform is designed to be intuitive and transparent, guiding you through each stage of the company formation process wherever you are. In this comprehensive guide, we'll take you through the entire process, explaining each stage in easy terms.

Step 1: Choosing a Unique Company Name

The first step while filling in our company order form, is telling us what you'd like to name the company. Picking the right name for your company is crucial. Through the Registrar of Companies e-search in the Business Entities Register, you can propose a name and check its availability in Cyprus within a few seconds. The platform is designed to perform a comprehensive search to find any similarity with the existing registered companies in Cyprus.

This process will help you find a distinctive name that is different from others. While the Registar does not guarantee that the name you propose will be approved by them, it does provide insights into the availability of similar names and assist you in finding something original.

Tips for Ensuring Approval from the Registrar

• If the name you suggest finds no results, pay close attention to details like dots (e.g., in initials), as even minor differences can affect the results that the e-search tool gives you.
• If you’re considering a generic name that’s already common (e.g., names including "Investments"), try adding your initials or an extra word to make it unique.
• Ensure that the name is under 30 characters for compliance.
• You can choose a name in English or Greek, and it must end with either LTD or Limited.

Step 2: Providing Essential Company Information

Once you’ve chosen the perfect name for your company, the next step is to provide some basic information about your business.

Define the Nature of Your Business

The first step is to select your company's business nature. This refers to the primary activities your company will engage in.

• General Trade: If you plan for your company to cover multiple areas of business or want flexibility in its operations, selecting general trade is often the best choice.
• Specific Trade: If your company focuses on a specific area—such as running an e-commerce website or providing specialized services—select the option that best aligns with your focus.
• Other: If your business nature doesn’t match the listed options, select "Other," and we’ll guide you through defining your company’s activities.

Determine the Number of Members

Next, specify the number of members in your company. Members include:

• Shareholders
• Directors
• Secretary (can only be one person)

For single-member companies, one person can hold all three roles (shareholder, director, and secretary). However, for companies with multiple shareholders,

one person cannot serve as both the sole director and secretary. To comply with regulations in such situations, you must appoint an additional person as director or the director and secretary can be different people.

Select Location of the Registered Address of the Company

Every company in Cyprus must have a registered address. This address:

• Must be located within Cyprus.
• Is used for official communications with the Registrar of Companies and other regulatory bodies.
• Does not need to match the actual location of your business operations.

You won't have to give us the exact address at this time, only the city. We'll confirm the exact address later on. If you don’t have an address in Cyprus, simply select the relevant option, and we’ll assist you by providing available solutions tailored to your needs.

Choose Processing Time

Select how quickly you’d like your company to be set up. We offer two plans:

• Standard Plan: This follows the Registrar of Companies' normal processing times, which can exceed a month due to high demand and slow workflows.
• Expedited Plan: For faster results, you can opt for an expedited service. This requires an additional fee to the Registrar but significantly reduces processing time, helping you get started sooner.

Most people prefer the expedited plan to avoid delays and begin operations as quickly as possible.

Company Structure - Limited Liability

Although Cyprus offers various company structures, our platform currently focuses on providing the most popular choice for start-ups and entrepreneurs of any kind which is a Private Limited Liability Company (Ltd).

However, we understand that some businesses may require alternative structures that are less commonly used such as Public Limited Companies (PLCs), Partnerships or even Charities. If you're interested in exploring these options, feel free to Contact Us and we will accommodate our services to your specific needs and preferences.

Step 3: Ensuring Compliance with KYC

Once you’ve completed and submitted the form with your essential company information, our legal team will step in to guide you through the next steps. This involves reaching out to you to ensure a smooth and compliant registration process.

As part of this, we’ll request identity verification documents such as a valid passport and a recent utility bill. These documents are necessary to correctly register your company and to comply with Know Your Customer (KYC) regulations, which are required by law.

Rest assured, your privacy and data security are our top priorities.

Step 4: Transparent Payment Process

After we've verified and received your KYC documents, you will get an invoice which will be sent to the email address you have provided. Our pricing is transparent, ensuring you know precisely what you're paying with no hidden fees. Payment is made conveniently through bank transfer, providing a secure and straightforward method to complete the process.

Step 5: Signing and Finalizing Documents

After payment, you'll receive the necessary paperwork that needs to be signed by the shareholders of the company within the memorandum and articles of association. We'll then contact you to arrange for the signing of the documents at a location of your convenience.

With this essential step completed, we will then be able to quickly submit the relevant documentation to the Registrar of Companies for their review and approval, initiating the registration process for your company.

Step 6: Tracking Your Application Progress

The company formation process can be monitored in real-time through a personalized dashboard. As soon as the procedure begins, we’ll send you a unique link to access your dashboard. This one-stop platform provides a clear view of every stage of the process in a meaningful and transparent way. From the initial application for your company name to the final issuance of certificates and registration of your company, you’ll stay updated every step of the way.

Step 7: Post-Incorporation Steps

After your company is approved and officially registered with the Registrar of Companies, there are only a few more administrative steps before you're ready to dive into your business operations. These include Tax registration with which you will obtain your company Tax Identification Number (TIN), Ultimate Beneficial Owner (UBO) registration as well as VAT Registration if your expected turnover for the year will be equal or more than €15,600.

You can read a detailed guide on the essential legal & tax requirements for businesses after registration here. Beyond that, you may apply for the opening of a bank account with a Banking institution of your choice either in Cyprus or abroad.

Ready to Register your Business?

As you've seen in this guide, starting your business with our platform couldn't be easier.

Get Started Today and let us help you bring your business to life!

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