COMPANY FORMATION IN CYPRUS

Michael Chambers & Co LLC is a leading law firm based in Cyprus that specialises in providing company formation services to both domestic and international clients. Our firm has a team of experienced lawyers, accountants, and business consultants who can guide you through the process of setting up your business in Cyprus, from the initial stages of incorporation to ongoing compliance and taxation issues

• Business Structuring: We can advise you on the most appropriate legal structure for your business, taking into account your specific needs and objectives. Whether you require a private limited company, public limited company, partnership, or sole trader, we can help you choose the most suitable structure.
• Company Registration: We can assist you with the registration of your company with the Registrar of Companies and Official Receiver of Cyprus. Our team can help you prepare and file all the necessary documents, including the Memorandum and Articles of Association, the certificate of registration of the company name, and the application form.
• Tax Planning: Cyprus offers several tax benefits to companies, including a low corporate tax rate of 12.5%, a wide range of double taxation treaties, and exemptions on certain types of income. Our firm can advise you on the most tax-efficient way to structure your business, and can help you navigate the complex tax laws and regulations in Cyprus.
• Banking and Finance: We can assist you with opening a bank account in Cyprus. We can also advise you on the various banking and finance options available to you, including loans, credit lines, and other forms of financing.
• Immigration: If you are a non-EU citizen and plan to relocate to Cyprus to run your business, our firm can assist you with obtaining the necessary immigration permits and visas.
• Ongoing Compliance: Our team can help you ensure that your business complies with all the legal and regulatory requirements in Cyprus, including annual reporting, tax filings, and other statutory obligations. We can also advise you on employment law, data protection, and other areas of corporate governance.

At Michael Chambers & Co LLC, we are committed to providing our clients with high-quality, personalised service that is tailored to their specific needs. Our team has a deep understanding of the Cyprus legal and regulatory environment, and can help you navigate the complexities of setting up and running a business in Cyprus.

The process of registering a company in Cyprus involves several steps, including:

• Choose a Business Structure: The first step is to decide on the legal structure of your business. Cyprus offers several options, including a private limited company (Ltd), a public limited company (PLC), a partnership, and a sole trader.
• Reserve a Company Name: Once you have decided on the legal structure of your business, you will need to choose a name for your company.
• Draft and Sign the Memorandum and Articles of Association: The next step is the drafting of the Memorandum and Articles of Association, which outline the objectives, rules, and regulations of your company. Once this is done, the documents must be signed by the shareholders and the directors of the company.
• Register with the Registrar of Companies: Once the Memorandum and Articles of Association have been signed, we proceed with registering your company with the Registrar of Companies of Cyprus.
• Obtain a Tax Identification Number: After registering with the Registrar of Companies, we proceed with obtaining a Tax Identification Number (TIN) from the Cyprus Tax Department. This number is required for all tax-related transactions in Cyprus.
• Register with the Social Insurance Department: If you plan to employ staff in Cyprus, we will need to register your company with the Social Insurance Department. This will enable you to make contributions towards social insurance and other social security schemes.
• Open a Bank Account: The final step is to open a bank account in Cyprus. This will enable you to carry out business transactions and pay taxes.