Advantages Sophisticated network of Double Taxation Treaties available for use by Non-Resident Companies Company Law based on UK Common Law Good professional infrastructure Disadvantages Documentation presented to the Companies Registry must be in Greek Relatively expensive jurisdiction Company Status Private companies owned by foreigners are titled "offishore companies" Corporate legislation source Companies Law, Chapter 113 Company name Prior reservation required, many words considered sensitive. Must end "Limited" Time taken to incorporate 2 - 3 Days Are shelf companies available? Yes Usual minimum capital C£1,000. Offshore Companies must have a minimum of C£1,000 issued Minimum number of shareholders One Are bearer shares / shares of no par value possible? No / No Directors: minimum number / corporate directors allowed / location One / Yes No restriction Secretary: mandatory / corporate secretary allowed / location Yes / Yes No restriction Is there a requirement for a Registered Office / Registered Agent? Yes / No Is any information required by the authorities prior to incorporation or prior to tax status being granted? Yes, bank references and copy passports must be forwarded to The Central Bank of Cyprus before Offshore status is granted to any Company What information is available on the public file? Memorandum & Articles of Association, Directors, Secretary, Registered Office, Shareholders, Share Capital, Accounts in some cases, mortgages and charges What documents must he kept at the Registered Office? Companies Registers Corporate books & seal Both required and kept at the registered office Are accounts required / filed? Yes / Yes (not available to the public) Is an annual return required? Yes Where are meetings to be held? No restrictions Annual fees payable to the government: Tax / Annual Return Filing Fee 4.25% / C£7 Are there any exchange controls? Not for Non Cypriots with appropriate Central Bank of Cyprus permission Double tax treaties Numerous