The advantageous corporate tax regime, with a corporate tax rate of 12,5% and all the other benefits Cyprus that has to offer, has led many business owners to the decision to transfer or structure their operations via Cyprus.
Cyprus law allows for the transfer of the registered seat of companies to and from Cyprus.
When a company transfers its seat to Cyprus, an application for its registration in Cyprus is required, either under its existing name, or under a new name as will be approved by the Registrar of Companies in Cyprus.
The company’s constituting documents, confirmation of the company’s good standing, details of the business activities, shareholders and officers should also accompany such an application.
The consent of the members of the company and the fact that a transfer of seat is permissible under the law and regulations of the country of the company’s original jurisdiction should be confirmed by a lawyer licensed to practice under the original jurisdiction of the company.
After the submission of all necessary documents, the Registrar of Companies in Cyprus will issue a temporary Certificate of Continuation and the company will be legally incorporated and able to operate in Cyprus.
The process will be completed and all relevant certificates will be issued when as a final step, the company submits evidence from the overseas jurisdiction that it is no longer registered in that jurisdiction.
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