Mortgage Lender

The process for the Cyprus company registration or the incorporation of a Cyprus Legal Entity takes only 2 weeks which allows the legal entity to set up business right away. First, the name has to be officially authorized by the registrar of companies. However, the Cyprus companies name can be refused on the basis of being previously registered, if considered unreliable or puzzling, implies links with loyalty or consists of terms such as Imperial, National, corporation, commonwealth as well as co-operative. To prevent rejection that will lead to wasting of your time it is necessary to front two to three Cyprus Company names for acceptance. In case a subsidiary company wishes to adopt the name of the parent company the latter must provide its written permission for the use of its name.

With the acceptance by the Central Bank the next thing is the registration of the Cyprus Company which needs some documents to be submitted with the registrar of companies. The first document in Cyprus company registration is the Memorandum and Articles of Association that signifies the name of the company concluding with the word limited, area of the registered office or the incorporators, the targets of the company, statement of liability to the stakeholders either through shares or guarantee, amount of capitalization as well as shares authorized to be issued and the subscribers to the memorandum in addition to the shares they have subscribed.

The Cyprus companies should also present the Articles of Association that is basically used to control the company's internal procedures and operations. It contains the rules regulating the internal administration and controls the rights of its members. This could later be altered or revised through a special resolution by majority vote of above seventy five percent. The document generally dwells on general meetings, voting rights, share transfer, dividends, director appointment and powers, accounts and audit, as well as specimen of the Cyprus company memorandum and article of association as enumerated by the lawyers along with other business experts.

Another provision needed in the Cyprus company registration is the list of administrators and the secretary's information. The list must contain a minimum of one director, while there is no need for listing a local director it is best to include one to cater for the provisions of double taxation. Moreover, for other reasons it is suggested that the secretary is of Cyprus origin; directors can act as secretaries except in sole directorship.

The declaration or affidavit verifying that all of the specifications are met also needs to be provided after which the certificate of incorporation is released and the Cyprus company registration is completed.

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