Our dedicated team of company incorporation specialists can undertake the whole process of registering your International Business Company (formerly known as an ‘offshore company’) from start to finish.
A company is recognised in law as a legal entity, separate from the persons who form the company and/or the directors and shareholders. It has a separate legal existence and is separate and distinct from its owners. Private Limited Companies are considered as one of the most easily managed and cost effective business structures.
Incorporating an International Business Company (IBC)
For the registration of an offshore company (IBC), the company will need to follow the procedure for permission to be obtained from the Registrar of Companies for it to be registered. Once this permission is granted and the procedure is followed, the new company will be able to commence its operations.
It is a legal requirement that an International Business Company should have at least 1 shareholder, 1 director, a secretary and registered office.
Every company should have at least one shareholder. If the beneficial owners require complete anonymity, then our own companies can be used to hold the shares in trust without the names of the beneficial owners being disclosed publicly.
If the beneficial owners do not need anonymity, then the shares may be registered in their names.
We can provide you with nominee director services.
We can also act as the secretary of the company on your behalf.
We can provide you with a registered office address.
Why have nominees?
* they can act on your behalf during the initial registration process and open bank accounts for you, etc. without you physically being present in Cyprus * you will be guaranteed full confidentiality or anonymity (although the names of the beneficial owners will need to be disclosed for the purposes of opening the company’s bank accounts) but in practice, you will be the registered beneficial owner of this company. In all cases, beneficial owners are supplied with a trust deed and an instrument of transfer authorising the nominees to hold shares in trust for the undisclosed beneficiaries. The fees for our company to provide such services will be payable on an annual basis.
Echinops Services Ltd provide a comprehensive range of trustee services, including the establishment, ongoing trusteeship and administration of trusts in Cyprus. Trusts can be very advantageously used for tax planning in many cases.
Trusts are commonly used for the following:
- for tax planning purposes;
- for asset protection purposes;
- for confidentiality;
- for the protection of minors’ rights.
The following requirements must be fulfilled in order for a Cyprus International Trust to be set up:
- The settlor must not be a resident of Cyprus
- Similarly, none of the beneficiaries may be a resident of Cyprus (except in the case of charitable institutions)
- The trust property must not include any immovable property in Cyprus
- At least one of the trustees should be a resident of Cyprus
Our trust experts will be happy to discuss with you your particular circumstances and requirements and to provide you with more specific information on how an international trust in Cyprus could be of benefit to you, protecting your business and assets worldwide. Contact us now to discuss how you could take advantage of the many benefits that a trust company has to offer.
Our team of experienced and qualified professional accountant associates is able to provide a wide range of accounting and bookkeeping services, as required by our clients, such as:
- Providing you with a Tax Identification Code
- Obtaining a VAT registration number for your company
- Book-keeping services based on records kept by the client;
- Consultancy with regard to the design and implementation of accounting systems;
- Computerisation of accounting records;
- Preparation of tailor-made periodic management accounting reports;
- Maintenance of VAT records, preparation and submission of VAT returns;
- Preparation of financial statements in accordance with International Financial Reporting Standards;
- Preparation of budgets and cash flow forecasts
- Auditing services
They will ensure that all accounting records, reports and returns are prepared for our clients in a prompt and efficient manner, at a cost-effective and reasonable price for our clients.