A Cyprus PLC is required to appoint a minimum of one director and seven shareholders of any nationality in order to complete the incorporation successfully. The minimum paid-up capital required is a €1 and a company secretary must also be appointed;

This business entity must file audited financial statements with the Registrar of Companies within twelve months of the financial year end and therefore must appoint a local Cyprus-approved auditor.

Features of a Cyprus PLC

Cyprus  PLC

Corporate Details

General

  • Type of Entity

PLC

  • Registered Office in Cyprus

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

3 weeks

  • Corporate Taxation

Yes (residence-based tax 12.5%)

  • Access to Double Taxation Treaties

No (residence-based access)*

Share capital or equivalent

  • Standard currency

Euro €

  • Permitted currencies

EUR, USD, GBP, CYP

  • Minimum paid up

€1

  • Usual authorized

€1,000

No

  • No-par-value shares allowed

No

Directors

  • Minimum number

One

  • Local required

No

  • Publicly accessible records

Yes

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

Seven

  • Publicly accessible records

Yes

  • Corporate shareholders allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

Yes

  • Local or qualified

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

Yes

  • Requirements to file accounts

Yes

  • Publicly accessible accounts

Yes

Other

  • Requirement to file annual return

Yes

  • Migration of domicile permitted

Yes

 Cyprus PLC Distinctive Benefits

  1. It need not file accounts with its Annual Return
  2. It is not subject to the statutory restrictions on loans to directors

The Valsen Advantage

  1. Speedy, Efficient and consistent Services.
  2. Relentless effort to obtain bank accounts.
  3. Expert advice on structuring options.
  4. Dedicated ongoing compliance support.