1. Is it necessary to come to Cyprus for setting up the company?
No, you do not have to come to Cyprus. You can send us instructions on any aspect of the company’s administration by fax or e-mail and we will carry out any necessary work
2. How is confidentially ensured?
Offshore companies can appoint nominee shareholders and directors, to act on their behalf. In such a case, it is the names of the nominees which will appear in the company’s file.
3. If nominees are appointed, how am I safeguarded?
For your protection you will get the following documents:
Every beneficial owner will get an undated transfer of shares from the respective nominee.
The transfer document can be dated by you at any time and filed at the Registrar of companies
Every nominee director provides you with a signed but undated letter of resignation.
You can put a date on this letter any time you choose and file the change at the Registrar of companies thus removing the director.
4. What is the difference between authorized share capital and issued share capital?
The authorized share capital in the maximum number of shares that the company can issue as per its memorandum and articles at association. Offshore companies usually register with a low authorized capital of Cyprus Pounds 5000 to avoid extra costs at the Registrar. Out of this only 1000 shares of Cyprus Pounds 1 are usually issued to the shareholders. This money does not have to be deposited immediately by the shareholders, but it can be taken through the shareholders accounts in the company’s books and paid for later.
Companies which intend to set up an office in Cyprus a minimum issued share capital of CYP 1000 is required.
5. Can I get a company or personal credit card?
Yes you can get both company and personal credit cards. Moreover internet banking is also available.