Application for the name of the company and initial approval from the Registrar of Companies
To save time it is advisable to propose three (3) names for approval
All names must end with the word “Limited” or “Ltd”
If the Cypriot company is to have a name similar to its mother company, the Registrar will require a written consent from the mother company
Preparation of the Memorandum and Articles of Association
The Memorandum sets out the capital structure and the objects of a registered company. It is submitted for filing with the Registrar of Companies and must contain among other the following information:
The name of the company
The registered address of the company
The objects of the company. It is advisable to be as wide as possible so as to allow the company to engage in any kind of business activity
The share capital of the company and how it is divided. Although there is no legal requirement as the minimum or maximum of the authorized share capital it is recommended to be at least €1.000,00 so it can be conveniently divided onto 1000 shares of €1,00
The subscribers to the Memorandum and the number of shares they are subscribing for
The Memorandum can be amended by a court order only
The Articles of Association is the documents that sets out the internal procedures of the company and regulates the rights of its members among themselves
Submission of documents to the Registrar of Companies
The completion of the relevant forms and the submission of them at the office of the Cyprus Registrar of Companies follow.
The whole process usually takes between 10 to 15 days if all the information is in order. The relevant certificates of incorporation are then issued.