Our services

We, at A. A. Xenophontos & Associates Ltd, Chartered Accountants, offer the full spectrum of services to Cyprus companies with international activities, from their incorporation to their day-to-day administration.

Our services include:

Company formation and administration

Incorporation

The most commonly used form of incorporation is the private limited liability company.

There are no legal requirements as to the minimum or maximum share capital of the Company but we recommend that the authorised share capital be at least EUR 5.000 divided into 5.000 shares of EUR 1 each and the issued share capital be at least 1.000 shares issued and fully paid on incorporation.

The authorised share capital of the Cypriot Company is subject to capital duty payable to the Registrar of Companies, as follows:

EUR 102,52 plus 0,6% on the authorised share capital on incorporation;

 

0,6% on any additional share capital upon subsequent increases.

 

Opening of bank accounts and administration thereof, liaising between you and the Bank to effect payments and transfer other instructions from you to the Bank.

Provision of our office or other address as the Company’s registered office address. The Company's registered office must be located in Cyprus.

Provision of nominee (trustee) shareholders, establishing full anonymity for you, the beneficial owner of the company. It is the name of the nominee shareholder that appears on the Company file available for public inspection at the Registrar of Companies.

For your protection, you will get an undated transfer of shares from the nominee shareholder, which you can date at any time and file with the Registrar of Companies.

Provision of nominee (trustee) directors with a mandate to act only according to your instructions. Again full anonymity is established. It is the names of the nominee directors that appear on the Company’s file which is available for public inspection at the Registrar of Companies.

The nominee director(s) will provide you, the beneficial owner of the Company with a signed, but undated, letter of resignation. You can   put a date on this letter any time you wish and file the change of director with the Registrar of Companies.

 

Furthermore, it is important that the majority of the Company's directors be Cypriots, so that it will be easier to establish that the Company's management and control is done in Cyprus through board meetings taking place in Cyprus. This, in turn, establishes that the Company is a resident of Cyprus for tax purposes.

 

Under Cypriot Company Law, a Cypriot private company must have at least one director. In all other cases, at least two are required.

 

Provision of Company Secretary by our office facilitating the Company’s administrative ease.

Day-to-day administration of the Company, involving the performance of the daily activities required for its operation, such as monitoring bank accounts, processing bank transfers, invoicing, bookkeeping, filing of VAT returns (where the Company is registered to VAT), preparing profit and cash flow forecasts, management reports, payroll, etc.

Accounting

Taxation

Tax planning and tax compliance services.

Financial advisory

Business plans, feasibility studies, valuation reports, restructurings and reorganisations, turnaround projects and other financial studies and reports.

Insolvency

When the purpose of the establishment of the Company has been fulfilled, the Company can then be either stricken off the Register or be voluntarily wound-up by its shareholders.