I don’t know about you, but I absolutely hate filling out applications forms.

Unfortunately, in some cases there is no way around it, including when you request an offshore company.

Here are few explanations to make the questions clear, the process fast and the experience stress-free.

Blank application form for an offshore company can be found here.  And here is what the questions mean:

1.  Choose jurisdiction

This is to say where you want your company be located.  What is a “better” jurisdiction, you may ask?  Actually, this only can be determined based on the nature of your business and your objectives.

If you are not sure what location is best for you, drop us a line and we will figure it out together.

2.  Contact person’s details

Here we need the details of the contact person for this company.

3.  Proposed company name

If you have already selected a name for your company, please note it here and we will check with the relevant authority if this name is available.

Alternatively, you may request from us a list of already preapproved names  or ready-made (“shelf”) companies.

4.  Objects of the company

This is to say what activities your company will be involved in – trading, holding, finance, etc.  You may select from the list or specify them yourself.

5.  Share capital

For Cyprus companies there is no minimum required share capital.  However, the standard companies that we establish have €1000 (one thousand euro) issued and paid up share capital divided into 1000 shares €1,00 (one euro) each.

For any other jurisdiction, please contact us and we will give you the necessary information.

 6.  About the turnover, profit and transactions of the company

It’s simply your projections.

7.  Secretary

Usually, your service provider takes on the role of your company secretary.  In our case, it is secretarial company Businessmatters Secretarial Limited.

8.  Registered  address

More often than not, registered address of your company is the same as the address of your service provider.  In our case it is:

20, Spyrou Kyprianou Avenue, Chapo Central, office 201, 1522, Nicosia, Cyprus.

However, if you want your company to be registered at a different address, please feel free to indicate it.

9.  Shareholders

Each Cyprus company has to have at least one shareholder.  It can be a person selected by you or a nominee provided by us.  For more information on who the nominees are and what they are used for please click here.

Should you choose to use nominee(s), please check off the box at the bottom of the relevant application page.  Otherwise, please provide the details of person(s) you would like us to appoint.

10.  Directors

Practically the same as shareholders.

Each Cyprus company has to have at least one director.   It can be a person selected by you or a nominee provided by us.

Should you choose to use nominee(s), please check off the box at the bottom of the relevant application page.  Otherwise, please provide the details of person(s) you would like us to appoint.

Please keep in mind that it is best that Cyprus company has Cypriot director.  For more reasoning on this subject please click here.

11.  Bank  accounts

If you would like us to open a bank account for your company, please indicate it in this section.  Opening of a bank account can be done at a later stage too.

12.  Maintenance and management

In this section you may indicate if you would like any additional services.  If you are not sure yet, not to worry – additional services like book-keeping, accounting, preparation of financial statements, etc. can be requested later on.

Thank you for taking your time!  You are done!  Now sign your application form and send it to us either via e-mail (office@lawyer.com.cy) or fax (00357 22 662215).  We will confirm its receipt within 24hours.

I’ll be the first one to admit that it is unrealistic to make filling out application forms pleasant.  But by using the clarifications and shortcuts listed above, you CAN save your time, energy and, ideally, your good mood.

In case there is still something unclear, do send us an e-mail and we will look into it together.