Registration procedure Key information for Cyprus company formation. Name Names may be expressed in any language using the Latin alphabet. Our firm maintains a list of pre – approved names. You may simply choose a name from the list. Alternatively you may suggest a name. Usually the House of companies may answer Registrar of Companies whether the name is acceptable within 10 working days. Please note that the following words may be unacceptable. (Asset management, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, leading, loan, lender, option, pension, portofolio, reserves, savings, security, stock, trust, trustees). Shareholders The minimum number of shareholders is one. They may be individuals or companies. They do not need to be residents of Cyprus. Directors The minimum number of Directors is one. They may be individuals or companies. They do not need to be residents of Cyprus. Secretary All companies must appoint a company secretary, who may be an individual or a company. As a secretary, we usually appoint our office company. Share capital The share capital must be expressed in Cyprus pounds. The minimum authorized, issued and paid up share capital is €1.740. Registered address All companies incorporated in Cyprus must have a registered office in Cyprus. Usually we use our office address without any additional charge. Tax identification number Every company incorporated in Cyprus is obliged to have a tax identification number. This number should be shown on the invoices issued by the company. Tax identification number is issued by our office without any additional charge. V.A.T. number Not all companies have to be registered for V.A.T. This depends on the type of activity. The Tax advisors working in our office, will consult you accordingly. Yearly requirements Financial Statements have to be submitted Yearly, to the Cyprus Taxation Authority (in a form designed by Cyprus Tax Authority). Also an annual return form has to be filed yearly, to the Registrar of Companies.