Seek advise for Cyprus copany incorporation for Indian?

[vinjansos]

Hi,


I'm from India and need to know if I can incorporate company in Cyprus?


What requirements do I need to comply to in order to open the Cyprus company?

 

[JohnLocke]

Everyone can incorporate a Cyprus company also people from India.


We just need the following:


- passport copy or other government issued photo id


- utility bill not older than 3 months and in English else notarized, can as well be a bank account/credit card statement

 

[vinjansos]

How long time it takes to incorporate Cyprus company?

 

[JohnLocke]

In average it takes 14 business days to have the company incorporated, however it can be more or less that time.


It is required to send the original Memorandum and Articles of Association by courier services which can course some additional delays.

 

[vinjansos]

Memorandum and Articles of Association by courier services which can course some additional delays.

How do I send this, I mean where do I get this from?


Will my name be public somewhere?

 

[JohnLocke]

The Memo and Articles will be e-mailed to you!


If you dont make use of any nominee director or shareholder or if you don't have a Holding company to act as the shareholder & Director your name will be public.

 

[vinjansos]

Can a company be Shareholder and Director in the cyprus company?


What are nominee director and shareholder please explain, sorry for the foolish questions!

 

[felix]

Sorry for joining this thread but Im interested in this too, is it possible that a Indian company is owner of the Cyprus company?


How many shares do we need and will we need to pay the share capital?

 

[JohnLocke]

Can a company be Shareholder and Director in the cyprus company?
What are nominee director and shareholder please explain, sorry for the foolish questions!

Yes a company can be a shareholder and director in a Cyprus company.


Nominee Director and Shareholder


The Nominee is a director of a company in name only and has no authority or responsibilities. They are not entitled to enter into any business contracts, financial or moral obligations. he will be give the power of attorney to carry on few daily works of the company but the real decisions are made in the board meetings and by the directors who make a regular evaluation of the nominee director. A nominee director might be from an existing company but his duties will not correspond to the interests of his own company. Most nominee directors are ex businessmen and corporate heads or retired personnel.


They are normally experienced and respected by all. Though his decisions are not binding on the working of the company, most of the time they do make the most crucial decisions which help the company in the long run. So it is vital to have the most authentic, upright and impartial nominee directors for your company. UK Nominee Director Service caters to this rising demand of nominee directors for many off shore owned companies in UK. They have the most experienced and trusted names from business that can become the face of your company in this country.


There are other regulations that have to be kept in mind vis-à-vis the responsibilities and the functioning of the company. For example, the nominee director is not allowed to sign any official forms or verify that any information from the company to any government agency or department is correct. The nominee director has to face the media and the public glare regularly and in times of emergencies. He is responsible for the company before law and the authorities. Certain taxes need to be paid by the Nominee Director on behalf of the beneficial owner. Vat and Corporate taxes are to be paid quarterly and annually respectively.

 

[JohnLocke]

Sorry for joining this thread but Im interested in this too, is it possible that a Indian company is owner of the Cyprus company?
How many shares do we need and will we need to pay the share capital?

Welcome Felix A Indian company can as well incorporate a Cyprus company so it will be the beneficial owner of the Cyp. company.


The min. share capital required is EUR 1000 and has not to be paid!

 

[vinjansos]

So with a nominee director and shareholder I don't need to sign any banking application?


How can I be sure that the director of the company not will run with my money if he has access to the company's bank account?

 

[JohnLocke]

So with a nominee director and shareholder I don't need to sign any banking application?

Yes you will need to sign the bank application as beneficial owner, no way around this!

How can I be sure that the director of the company not will run with my money if he has access to the company's bank account?

Since you are the onlyone who has access to the bank account then it will be impossible for any other to withdraw the money, the banking codes comes in an sealed envelope!

 

[Safa]

Welcome Felix A Indian company can as well incorporate a Cyprus company so it will be the beneficial owner of the Cyp. company.

Can't it be complicated with the FEMA regulations in India fema india, nri india, fera india, fema rules, fera in india, income india tax, bank India, India Return, India Tax, Indians Abroad, Bank In India, Return To India, NRI Tax India just wondering how you will go about it heard it is possible but not how people doing it.

 

[clemens]

There is lots of paperwork involved for Indians to get allowed to money from India to the rest of the world, I believe there isn't any problems with the incorporation process itself (correct me if Im wrong) but since you have to pay for the company one way or another then you will get troubles. Best would be to use paypal for payment but I don't know if it is allowed

 

[JohnLocke]

Correct it won't be a huge problem to convince the authorities in India for why you need a foreign company however the money transfer to make the payment (if done by Wire Transfer) is a pain also it will require a lot of reporting as far as we have been informed.

 

[MiltonStone]

Better pay with Moneybookers or any othe e-currency if you have funds available.