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When setting up a Cyprus company, the first step is to propose a company name to the Cyprus Registrar of Companies and apply for the Cyprus company name to be approved with a view to starting a new company in Cyprus.
If the name is already being used by a group of companies in another country, a letter of agreement from those companies is required.
In order for us to draw up the Memorandum and Articles of Association for the incorporation of a company in Cyprus, the primary activities of the Cyprus company must be defined.
Prior to the creation of a company in Cyprus, each beneficial owner, shareholder and director involved in the establishment of a Cyprus must provide a bank reference as well as an apostilled copy of their passports. Finally, proof of address for the beneficial owners, directors, and shareholders who are setting up a company in Cyprus must be presented in the form of a utility bill that is no more than 3 months old.
First of all, the client has to suggest a company name, which will then be submitted to the Cyprus Department of Registrar of Companies and Intellectual Property for approval.
If the name of the Cyprus company that will appear in the register of Cyprus companies, once the application for a Cyprus company name is successful, already belongs to a group of companies operating abroad under a similar name, then a letter of consent from those companies is required.
The main business activities of a Cyprus company must be provided so that the Memorandum and Articles of Association can be drawn up for submission in order to complete the establishment of a Cyprus company.
A bank reference is required for each beneficial owner/shareholder/director. This is basically a letter from the bank stating that they have been a client of theirs since a certain time and that they are of good standing. We can send you a standard bank letter in English for you to use a template, if you wish.
We will need an apostilled copy of the passports of the beneficial owners/shareholders/directors. If apostilling is not possible for some reason, let us know and we will explain to you the other options for having your passport copy certified.
We will need a recent original utility bill (ie. electricity, water, telephone, gas bill, council tax bill, telephone bill (landline only), etc.) or a recent bank statement as proof of the address of the beneficial owners / directors / shareholders. This should be no more than 3 months old.