DIY Vs. Agent Vs. Shelf company

[AHK84]

Hello All,

Am looking to set up a Basic Cyprus holding company to own other companies, I do not need a Bank account for it at this moment in time, am wondering is it possible to do it myself rather than going through the hundreds if not thousands of registration agents? has anyone done it themselves and can advise on the process and time frame, or would you say go with an agent I do not want to spend too much as my budget is tight and can you recommend a cheap agent? or if you know anyone who has a company that they no longer need and would like to discuss a sale of it to me, Am new here and appreciate all your assistance in advanced.

 

[CyprusLaw]

Hello All,

Am looking to set up a Basic Cyprus holding company to own other companies, I do not need a Bank account for it at this moment in time, am wondering is it possible to do it myself rather than going through the hundreds if not thousands of registration agents? has anyone done it themselves and can advise on the process and time frame, or would you say go with an agent I do not want to spend too much as my budget is tight and can you recommend a cheap agent? or if you know anyone who has a company that they no longer need and would like to discuss a sale of it to me, Am new here and appreciate all your assistance in advanced.

Hi, to begin with it is not possible to set up the company without a lawyer involved as by law the constitutional documents of the company must be prepared by a lawyer.

Also, you will need an accountant/auditor as well once the company is formed.

 

[AHK84]

Hello Thanks for your reply do you have a link to the specific law that stipulates that a lawyer must be used to set up a company, as for accountant an auditor this is not going to be an issue considering the company will not be doing any trading what so ever, nor will it have a bank account so one can hire one to do the annual returns etc.

 

[CyprusLaw]

Hello Thanks for your reply do you have a link to the specific law that stipulates that a lawyer must be used to set up a company, as for accountant an auditor this is not going to be an issue considering the company will not be doing any trading what so ever, nor will it have a bank account so one can hire one to do the annual returns etc.

A statutory declaration is required by section 17 of the companies law, as you can see from the Registrar of Companies site - Applying to incorporate a Company - the statutory declaration has to be made by the lawyer, this is also clear from the statutory declaration itself (this is in Greek) which is a sworn affidavit whereby the person signing it swears that he is the lawyer handling the incorporation of the company and that all steps have been taken in compliance with the Cyprus law.