Company administration & maintenance
There are a number of other services provided by Investment Gateway associate to administer and maintain your Cyprus based company. Some are purely optional, many are highly recommended.
These services are ideal for companies with initially minimal presence in the Cyprus market and/or minimal representation in Cyprus, or simply to alleviate burden, allowing the company to concentrate solely on its business activities and in operating efficiently.
Consider these services as outsourcing some of the company's foreign-based administration, as well as other necessary technical maintenance duties. This outsourcing is an affordable and efficient solution post registering your company in Cyprus, ensuring proper management, credibility and efficiency.Main services provided by all associates include:
Nominee services are a form of local legal representation, since companies in Cyprus can also be owned by foreigners who might be based abroad most of the time. Nominee services ensure resident entities meet local rules and regulations regarding their company formation and on-going operation. Thus, for those planning to create a company in Cyprus but have little presence here, nominee services are highly recommended, if not completely essential.
As with every other jurisdiction in the world, it is a statutory requirement that a Cyprus company appoints at least one shareholder and director. A Cyprus company is also required to have a secretary. Cypriot companies must maintain and submit accounts at the end of the fiscal year. As resident companies, they must also justify a certain amount of control and management in Cyprus. Thus, nominee services help to meet these requirements. Beyond this, many day-to-day tasks can be carried out my nominees, such as 'everyday' banking, legal work, accounting, administration and the like.
Investment Gateway associates can arrange resident nominee services for company directors, shareholders and the company secretary; in Cyprus, as well as other jurisdictions. Nominee services are provided by the same company that registers your company and always involve professionally qualified individuals from the firm. These agents are all reputable, certified and monitored by government. Finally, nominee services are completely protected and governed by full management agreements, including power of attorney and trust agreements.
Remember, nominee shareholders and nominee directors are not the beneficial owners of the company. Their roles are passive. They are merely the company's local representation offshore/abroad, i.e. in the Cyprus market.Benefits to a nominee director, nominee shareholder and nominee secretary in a Cyprus international business company:
- Required by law. In order to fulfil statutory requirements for a resident company in Cyprus, a resident director and a resident shareholder must be appointed.
- Anonymity. Nominee services protect the identity of the beneficial owner and/or investor of a company. Their details do not appear on a public register, but rather the nominees.
- Representation. Nominees are your local corporate ambassador, acting on your behalf. This includes making strategic decisions affecting the operation and management structure of the company, as per directed by the beneficial owner. If required, nominees can also represent company interests to government and local authorities, as well as with regards to operational aspects, such as with clients, suppliers and logistical matters.
- Practicalities. Day-to-day tasks can be performed by nominees on the company's behalf, such as opening bank accounts and execution of banking activities, company general administration, legalities, documentation, etc.
Obtain a quick quote for company nominee services in Cyprus or any other jurisdiction. Complete the quick-and-easy Investment Gateway quotation form to receive a number of options from leading and qualified experts in Cyprus.Get Quote
Secretarial services ensure the company registered in Cyprus operates effectively, providing a real professional presence and point of contact to channel through all types of correspondence, as well as to action any necessary activities.
Indeed, secretarial services offer a company international credibility and prestige, justifiably considering it as a proper Cyprus-European based entity and treating it with greater respect – in contrast to a unknown and un-contactable company that just has an address and telephone number. And like with all companies, secretarial services are a key advantage to customer service, account management and company operations. They also act as an important gatekeeper, filtering information and correspondence to only what is relevant and required. In Cyprus, secretarial services can also be an important service element for company substance and compliance.
Secretarial services offered by Investment Gateway associates can be provided for the company's registered address in Cyprus, as well as any Cypriot or international company telephone/fax numbers and e-mails.Common secretarial services for companies based offshore can encompass:
- Handling company correspondence
- Filing and reporting duties
- Organising company board and shareholders' meetings
- Maintaining minutes during company board and shareholders' meetings
- Ensuring company minutes book is always up-to-date and as per required
- Arranging company documents and assisting in submission processes
- Other office related duties, office accessories, such as company letterheads, business cards and official company stamp
- Handling mail, telephone calls and e-mails, as well as forwarding, and
- Updating website content via Content Management Solution (CMS)
A residential address is needed when forming a company in Cyprus. This is provided by the agent incorporating the company. Furthermore, an actual office address can be obtained, generating greater credibility and facilitating company operations, e.g. for contracts and invoices.
Investment Gateway associates can assist in locating and establishing all types of offices throughout Cyprus. Most common locations are Nicosia and Limassol, and to a lesser extent Larnaca and Pafos. Offices can be of any size, as well as sub-leased as part of an office complex.
Alternatively, companies can opt for a virtual office – in other words, an office that has an address, telephone number, as well as a complete legal presence. A virtual office is an ideal solution to support a company formation in Cyprus and any subsequent business activities.Virtual office in Cyprus:
- Ideal support tool for a Cyprus company formation
- Sustaining company's global and local based operations
- Company credibility and recognition
- Aiding for when opening a bank account
- Point-of-contact for receiving mail, courier and shipments
- Proper reference for establishing a telephone and fax number in Cyprus
- Ideal support for the company's website
Similarly to secretarial services and physical/virtual office space, mail, courier and telecommunications services are essential in initially sustaining a company offshore. No doubt, these services instil confidence in the company and boost its global credibility, but also assist in day-to-day operations and allow the company to grow organically.
Above all, resident companies in Cyprus must maintain management and control from their registered office address here. In turn, primary correspondence such as company registration certificates, contracts, financial statements, bank statements, as well as other government and commercial related material must be sent here. The same holds true for verbal communications, in the case that other entities, government or international organisation must make contact with the company in Cyprus.
In addition, company general trading might also require regular or not-so-regular correspondence to this address/telephone number/fax – of course each company differs greatly in level of activity, i.e. quantity of correspondence. This correspondence helps a company verify its location as truly being in Cyprus; of being managed and controlled from this address and point-of-contact. Of course websites and e-mail addresses can be accessed from anywhere in the world. However, having a .cy and/or .eu domain name or some type of hosting service via Cyprus is a great asset and support tool for the same reasons.The same associate that incorporates the company also provides mail, courier and telecommunications services. Important elements of this service include:
- Company Post. It is highly recommended that post (letters, packages, parcels, larger freight forwarding and logistics) are forwarded at regular, pre-arranged intervals, i.e. once per month, per quarter or per semester (depending on level of activity). This maintains a consistent approach to send-and-receive expectations, as well as pricing. Very large shipments could be done as per required.
- Company Telephone. A Cypriot individual telephone line is supplied. Calls to the company's designated telephone line are answered on behalf of the company by a qualified and specifically selected secretary/receptionist – the call is answered in the name of the company and with a pre-determined telephone scripture. At this point it also worth mentioning that this secretary/receptionist is briefed about the company and its sector in order to appear well informed and knowledgeable. They can also receive additional training at the client's request. Messages are taken and transferred to the client. Telephone voice mail box and/or call forwarding to another line or mobile is also provided with this service, and activated during out-of-office hours.
- Company Fax. A separate Cypriot fax line is supplied. Company incoming faxes can be either kept at the registered office address in Cyprus and then passed on to the affiliated accounting office for processing or transferred to a pre-arranged receiving location, either by fax, e-mail or post.
- Company E-mails and websites. Since the Internet is global, e-mails can be accessed securely from any location in the world, therefore clients can either have direct access to their e-mails, or to make it more convenient, consolidate the e-mail address and have it automatically re-directed to their own (other) chosen e-mail address. However, clients might still choose to have the Investment Gateway associates respond to e-mail or website requests and then have them manually transferred by e-mail forwarding, fax or post. It should be noted that accessing the company's e-mail address or website administration panel (CMS) from Cyprus can be documented via IP addresses and in turn used as further proof of the company's true registered location. It can also be beneficial to maintain a .cy and/or .eu domain name in addition to a .com or other domain, and/or have your website designed and developed by a Cyprus based company such as Investment Gateway. With this can also come some type of hosting service from a Cyprus-based company.
Administration and maintenance services are generally broken into two basic expenses:
- Fixed costs: for establishing the required services in Cyprus, such as initial registration, paper work and documentation, office rental, a registered postal or P.O. box address, telephone line rental, website domain names and hosting. Such fixed costs are independent of the actual use of the service.
- Handling costs: for maintaining the required service in Cyprus. In other words, usage, time-spent and any working expenses by the agent. This can be for any extra work required by nominees, other documentation needed, telephone calls, telephone and fax forwarding, mail forwarding, courier services, updating of web content.
Obtain a quick quote for company administration and maintenance services in Cyprus. Complete the quick-and-easy Investment Gateway quotation form to receive a number of options from leading and qualified accounting experts in Cyprus.Get Quote
For general advice and direction on company administration and maintenance services in Cyprus, contact Investment Gateway and an expert associate for a no-obligation consultation at info 'at' investment-gateway.eu or via our online contact form.Return to Solutions Return to top
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