How much time does the company registration process take?
It depends. The processing and approval of the company name by the Registrar takes about 4-7 working days. The processing of a registration application by the Registrar usually takes another 4-7 working days (with accelerated procedure). Tornaritis Law part (filling forms, submitting
application, etc) usually requires 4-7 days. The applicant’s part however (obtaining and providing the necessary information & documentation) depends exclusively on the applicant.
Fast-Track: A way to have a Cyprus company up and running in virtually no time exists for applicants for whom time is of the essence. Instead of going through the whole process described above, the applicant can simply purchase
a “shelf company”, provided the shelf company’s memorandum and articles of association meet the applicant’s requirements. Please contact us for more information.
It is often the case that the client needs urgently to enter into various transactions abroad. To this respect, a shelf company is acquired and if so needed, a Power of Attorney is granted to the client and sent to him together
with the company registration documents (all apostil) by courier. This suffices to enable the client at virtually no time, to have a Cyprus registered company of which he has full capacity and authority to deal.
Simultaneously –or at a later time –changes to the company’s particulars, such as directors or shareholders, can be effected by the submission to the Registrar. It is often the case that the client only wants to be a beneficial rather than legal/registered owner, which does not need the involvement of the Registrar but only the issue by the registered shareholder of a written
declaration or the entering into a trust deed between the registered shareholder and beneficial owner, rendering the former a trustee and the latter a beneficiary. Please contact us for more information.