Cyprus Company Formation: Cyprus Branch of Overseas Company
Part VIII of Cyprus’ Company Law deals with companies incorporated outside the Republic of Cyprus and lays down the provisions as to the establishment of a place of business of those companies in the Republic of Cyprus, which will be recorded as Overseas Companies, by filing the necessary documents to the Cyprus Companies Registrar under the Companies Law Cap. 113 (section 347).
The registration of a branch does not mean that a new legal entity is created in Cyprus. It means that the legal entity, which is established under a different jurisdiction, has a branch in the Republic of Cyprus and it may operate through this branch for its international activities.
- If the management and control of the business of the branch is not in Cyprus, the profits of the branch are exempted from all taxes.
- Or in the case that the management and control of the branch is in Cyprus, the profits are taxed at the rate of 12.5%.
The branch enjoys all advantages extended to all international business entities.
The registration procedure is basically the same as for companies, with the additional requirement that every overseas company wishing to establish a branch in Cyprus is required to file various documentation with the Registrar of companies within one month of establishment. Such documents must be certified by the Registrar of Companies or by a director of a company as true copies and legalized by an Apostille or Notary Public and translated in Greek.
The requirements are as follows:
- Certificate of incorporation of an overseas company
- A certified copy of the Memorandum and Articles of Association, or the charter or other instrument defining the constitution of the company.
- The name and address of at least one person resident in Cyprus who is authorized to accept service of notices on behalf of the company.
- All required details of the director(s) and secretary of the company.
The name of the branch is the same with the name of the overseas company.
Why You Should Choose Us
Parparinos Milonas Corporate and Legal Consultants can and will assist its clients, wherever in the world their company is located, with every step and procedure that is required to set up and start running such a branch as well as help you gain a substantial understanding of what Cyprus has to offer in establishing and operating your company in Cyprus.
With our fast and ‘on the ball’ approach to business, we never leave anything for the next day. By working round the clock, our clients’ interests come first as we strive to maintain high service standards for all to benefit from.