Yiannos Mylonas Law Firm

Registration Procedure

The registration procedure of an international company is fast and we will deliver to your door all necessary documents. Once the Certificate of Incorporation is issued then the company can start trading. We can be responsible for the provision of banking facilities (to open the local disbursement current account of your company and the local account of the employees). Additionally with appropriate documentation we can assist in the provision of very advantageous banking facilities of which we are happy to provide further details. We are well aware of the banking system here in Cyprus and we will assist you to open all necessary banking accounts for your company.

The name of the company should not be similar or identical to any other name already registered and sensitive words such as royal, prerogative, council should be avoided.

The issued and paid up capital should be at least €1000. A minimum of €17.000 is required where the company will have an office in Cyprus (fully fledged office).

Each company must have at least one Director and one Secretary.

The shareholders of a company are the legal owners of the company and may be either individuals or trustees. A company can be formed by only one person. Anonymity can be achieved by using nominee shareholders or trustee companies. Applications will no longer be examined by Central Bank of Cyprus and it is not a requirement that the beneficial owners of the shares in an entity be disclosed to them. Banks may render services to other companies whereas companies are not allowed to offer services to other companies in Cyprus.

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