Having the lowest corporate tax rate in the EU, Cyprus is a location which many companies from other jurisdictions decide to transfer their domiciliation to.
This means that a company, which is incorporated in any country other than Cyprus, can transfer its domiciliation to Cyprus by being deregistered in its country of incorporation and registered in Cyprus. In other words, the same company will continue its existence as a Cyprus company without the need of going into liquidation at the initial country of incorporation and re-registration in Cyprus.
Such redomiciliation of Companies can be for both private and public companies, provided that their Memorandum of Association, or Constitution, allows redomiciliation.
We assist you to successfully effect redomiciliation. We draft, prepare and submit on your behalf the necessary forms, applications, resolutions and other certificates which are necessary for the successful redomiciliation.
The application must be submitted to the Registrar of Cyprus Companies, together with a number of documents, including:
- a resolution of the foreign company approving the continuation of the company in Cyprus;
- a copy of the Constitution, or the Memorandum of the foreign company;
- A certificate of good standing of the foreign company;
- A sworn affidavit by a director of the foreign company confirming a list of details, including the company's name, its country of incorporation, the date of incorporation, that there are no civil or criminal proceedings pending against the company etc.
Upon the successful examination of the submission by the Registrar of Companies in Cyprus, the Registrar will initially issue a Temporary Certificate of Continuation and later on, once proved that the company ceased being registered in the country of its incorporation, a Certificate of Continuation will be issued.