Formation (Incorporation) of a Cyprus company

The share capital will be €1,000

• A bank account will be opened in Cyprus (with no additional charge) and a Tax Identification Number will be issued.

All certificates will be provided as follows: Certificate of Directors & Secretary, Certificate of Shareholders, Certificate of Registered office together with a Certificate of Incorporation. All the above will be in English. Also a Memorandum and Articles of Association will be provided in Greek.

Provision of Accounting and Financial Management Services 
Maintenance of proper accounting and related records - This includes the keeping of accounting records in accordance with International Financial Reporting Standards in the appropriate functional currency; The books and records will remain to our Company’s property at all times.  The authorized person of the Company will have access to the books and records of the Company at all times Preparation of periodic management accounts and other reports - Upon the request of the company’s management, we may prepare periodic reporting packages- reporting packages in accordance with International Financial Reporting Standards (IFRSs).

Provision of advice on accounting matters - Where the appropriate accounting treatment of specific transactions is not clearly identifiable, we may assist by applying the appropriate accounting principle. 

Preparation of cash flow statement for management purposes – Maintenance of cashbook, including monthly reconciliation of the bank accounts and analysis of receipts and payments, where applicable.

Preparation and Submission of VAT (value added tax) Returns on a quarterly basis Liaising with the Company’s auditors  - Correspond with the auditors of the Company coordinate and monitor the annual statutory audit. 

FEES

Hourly rate charge Euro 60 - with maximum charge per year Euro 3.000 –plus vat plus out of pocket expenses per Company.

Audit & Preparation of Financial Statements

Audit fees will be based on the time that is required for the completion of the work by the individuals assigned on the engagement plus out of pocket expenses and value added tax. The hourly charging rates depend on the complexity of the assignment and the responsibility which is assumed and also the skills and expertise of our staff that will be required to carry out the assignment.

Business Analysis & Consultation 

Fees will be based on the time required for the completion of the Project by the individuals assigned, the complexity of the clients’  business and also the Business Analysis Methods used, plus out of pocket expenses and value added tax.

Additional Services ( Upon Clients’ Request)

Nominee services.

The appointment of members of our office as Directors.Yearly cost. € 250

The appointment of members of our office as Shareholders. Yearly cost. € 250

Translation
Certified translation of the Memorandum & Articles of Association in English, may be required for opening a bank account outside Cyprus). Cost- € 310

VAT.
Application in obtaining a VAT number. Only if required according to the VAT law. Cost- € 70

Legalization of documents.
The legalization of a Cyprus company, certificates (Directors, Secretary etc) are certified by apostille through the Ministry of Justice



If you wish to proceed with the Cyprus company formation:

• Choose a name from the list with pre–approved names. Alternatively you may suggest a name to obtain an approval by the House of Registrar of Companies.
• Print the “company formation questionnaire”, complete it and sent it to our office via fax or email.