OPEN A BRANCH IN CYPRUS

A presentation brought to youby Lawyers-Cyprus.com

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Why Invest in Cyprus?

• Cyprus is regarded by many business owners as a very appealing country in terms of foreign investments.

• The Cypriot tax regime is effective, transparent and fully compliant with the EU regulations.

• What makes it extremely appealing to foreign investors is the amount of exemptions provided by law. 

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What Is a Branch in Cyprus?

• A branch in Cyprus has no legal personality on its own.

• It is rather an extension of the parent company, which is completely liable for the branch’s debts and obligations but can also manage its profit.

• The establishment of a Cypriot branch is the same as the registration procedure for a new company or for a subsidiary.

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Open a Branch in Cyprus >>

• The first steps in order to open a branch in Cyprus are:

preparing the necessary documents;

notarize the Articles of Association of the company;

setting up a bank account in its own name.

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>> Open a Branch in Cyprus

• In order to set up a branch in Cyprus it is also mandatory to obtain a document certifying the capital deposit.

• The name of the branch must be registered as a trademark.

• The Cypriot Government only allows resident representatives, authorized through a power of attorney, to set up branches within the country. 

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Registration of a Branch in Cyprus >>

• Before starting the branch’s registration procedure with the Official Registrar of Companies in Cyprus, a representative must be appointed.

• The representative can be appointed through the power of attorney.

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>> Registration of a Branch in Cyprus

• The representative will need to submit an application together with the following documents:

the notarized Articles of Association of the parent company;

names of the company’s directors and shareholders;

a Certificate of Registration of the parent company, issued by the relevant institution of its country.

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The Registrar of Companies in Cyprus >>

• There is a one-stop shop opened at the Ministry of Commerce in Cyprus where a representative of the Registrar of Companies can be reached.

• However the majority of cases are resolved at the Registry itself.

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• Within two or three days the Registry can issue in the name of the applicant the following documents:

a Certificate of Incorporation for the branch;

a Certificate of Registration;

a Certificate of Directors and Shareholders.

>> The Registrar of Companies in Cyprus

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The Incorporation Procedure of a Branch in Cyprus

• Setting up a branch in Cyprus is a simple and straightforward process.

• However, the entire incorporation procedure may last up to two weeks, depending on the notary and banks schedules.

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Legal Assistance in Cyprus

• If you are interested in expanding your business in Cyprus, our company formation specialists can help you with all the procedures required for opening a branch in this country.

Thank you for your attention!

Please contact us for more information at:

  (+357)22 030 228

office@lawyers-cyprus.com

http://www.opencompanycyprus.com/

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