Where to find ready made companies in Cyprus
2023 Where to find ready made companies in Cyprus: full guide
A ready-made company is a company that has already gone through the registration procedure and is ready for sale to those who want to avoid the long process of registering a company "from scratch" (which usually takes 7-10 days).
A ready-made company keeps its history from the moment of registration, which allows when buying it to become the owner of a company "with a history", which will increase the trust of investors and partners. For example, if the company was incorporated in 2016 and bought in 2020, that adds 4 years to your business. Also see below why it is profitable to buy a ready-made company?
The ready-made company package includes: full set of corporate documents, legal address, company secretary, full nominee service (nominee shareholders and nominee directors), 1st year company support.
To start the process, typically you will need the following documents:
- A copy of your passport, notarized and apostilled
- Original utility bill. E.g. phone bill, electric bill, water bill, etc. to verify address of residence (should not be more than 3 months from date of invoice).
- A letter of recommendation from the bank where you (or the company) already has an account.
In addition to the above documents, you will need the following information to open a bank account:
- A description of the company's business activities
- Estimated annual turnover
- Countries where the funds will be coming from
- Countries where money will be going to
- Name of the bank where you want to open the account
- Account currency
All documents can be sent by e-mail to speed up the process of activating the ready-made company. The originals can be sent by courier at a later stage. No need to translate documents into English
Why is it beneficial to buy a ready-made company?
- Ready-made companies are instantly available when you need them. This is a huge advantage when a company is needed immediately and there is no time to gather documents and registration formalities.
- Start signing contracts and getting orders as soon as possible. A ready made company in Cyprus can be used to sign contracts, enter into business transactions, and start taking orders right away.
- It creates a sense of reliability and increases confidence in your company. Companies that have been in business for a long time earn more trust from investors and business partners, which encourages them to do business with you.
- Access to business opportunities that are only available to companies with a history. As a rule, large foreign and domestic companies, when allocating bids for a certain order, choose those companies that have been in the market for a certain period of time.
Opening a Current Account in Cyprus
Opening a current account in Cyprus can be done for both individuals and legal entities. Although it is not necessary to open a corporate checking account in order to establish the company, it is also true that a corporate account is necessary to operate. Banking operations in Cyprus are perfectly smooth at the moment: the problems related to the 2013 crisis are a distant memory. The banking system operates smoothly and provides efficient banking services. Account opening can take place even without the physical presence of the account holder, i.e., remotely: it is necessary to collect specific documentation that meets the requirements of the FATCA and CRS protocols to which Cypriot banks are subject. Another option is to find in Cyprus ready made companies to get everything ready at once.
To whom is it recommended to open a company in Cyprus
Cyprus, like Malta, is an important international financial center. There are many different kinds of Trading activities on the Island. There are also numerous licensed gambling or financial services businesses, as specific licenses often have lower costs than in other European countries. As we always repeat, the opening of a company in Cyprus should not be considered as an instrument of tax evasion or avoidance, but rather as an opportunity for true and real internationalization of business, or as a means of asset protection against private individuals.