ST JAMES Management Services Ltd

CONSULTANCY ON COMPANY REGISTRATIONS

Please note that since 2004 after Cyprus joined the EU local offshore companies were transformed into International Business Companies

CONSULTANCY ON
Offshore (IBC) Companies (in Cyprus and other countries)
Shipping Companies
Offshore Trusts

DOMICILIARY SERVICES
Nominee Shareholders / Directors
Registered Office Address
Company Secretary
Mail/Fax/Phone Services
Offices available to rent

FINANCIAL SERVICES
Bank Accounts / Credit Cards
Investment Funds

ADMINISTRATIVE SERVICES

* Secretarial Services
* Office Space & Facilities-Properties
* Interpreters-English-Russian-Greek
* Administration of Local Affairs

WHY CYPRUS?

Strategic attractive location at the crossroads of three continents
Democratic country with a free market economy.
Member of the European Union, United Nations, the Commonwealth and the Council of Europe.
Modern and efficient legal, management, accounting and banking services in line with English standards.
Excellent telecommunications among the most developed in the world.
New multi-purpose ports serving shipping lines in their regular schedules to and from three continents.
Wide network of air-routes connecting Cyprus with Europe, Africa, America and Asia.
Treaties for the avoidance of double taxation are currently held with 20 countries.
Availability of highly-qualified managerial and clerical staff as well as a wealth of technical expertise.
Pleasant way of life in a highly favourable climate.
Low set up and operating costs.

PROCEDURES FOR INCORPORATION OF AN INTERNATIONAL BUSINESS COMPANY (IBC) IN CYPRUS

To register an offshore (International Business Company) company in Cyprus, the following conditions must be met:

Under the provisions of the Cyprus Companies Law, which is based on the United Kingdom Act 1948, an offshore (IBC) company must be registered as a private company with Limited Liability

The Registrar of Companies will authorise the establishment of an offshore (IBC) company, provided that a bank reference be presented regarding the beneficial owners

According to the Cyprus Laws the following restrictions are imposed to the activities of IBC:

1. The activities of the company must be carried out abroad, although day to day operations and administration can be managed locally

2. The shares of the company must belong to non-residents

3. All local expenses must be paid from imported funds

4. Annual audited accounts must be submitted to the Central Bank of Cyprus

Particulars Required for the incorporation of an offshore (IBC) Company:

It takes 10-15 days after having all relevant documents to register an offshore (IBC) company. To start the process we need the following documents:

1. Copy of the first two pages of the passport of each shareholder.
2. Bank reference (one for each shareholder) from shareholder's bank (see draft Bank reference).
3. Particulars form (details of company name, and shareholders).
4. Signed pages by the shareholders of the Memorandum and Articles of Association of the company.

As you can see from our price list, we offer a complete package. Kindly fill up the Order Form by choosing the service you require and return it to us.

1. PROPOSED NEW NAME : Name of Offshore (IBC) Company. You can send us 3 different names for approval by the registrar of companies.
2. AUTHORISED SHARE CAPITAL: CY £10,000 recommended for a "paper" company. Cy £50,000 to £100,000 for full fledged company. (i.e. establishing an office and have local employees.)
3. ISSUED SHARE CAPITAL: Cy £1,000 (one thousand) if company will not establish office in Cyprus. Cy £10,000 (ten thousand) if company will have a full fledged office.
4. NAME OF SHAREHOLDERS, ADDRESS, OCCUPATION, AND NO. OF SHARES: The shareholders should be either non-residents or Cypriots acting as Nominees and holding the shares in trust. By having Nominee shareholders the anonymity of the actual shareholders is achieved.
5. NAME OF DIRECTORS, ADDRESS, OCCUPATION, NATIONALITY : All directors of a company may be foreigners or Cypriots or both. Board meetings may be held at any country. It is advisable from an international tax planning point of view, to have local directors so that the management and control of the company will be done from Cyprus.
6. COMPANY SECRETARY, ADDRESS : Every Company must have a secretary for maintaining the statutory books and the minutes of meetings. The seal of the company must be kept under the safe custody of the secretary. Our company will provide this service.
7. REGISTERED OFFICE: By law the registered office of a company must be situated in Cyprus. Our company can provide this service.
8. AUDITORS: By Law an offshore (IBC) company is required to have audited annual accounts prepared by independent auditors in Cyprus. We can provide this service.
9. LEGAL ADVISERS: Our company can provide you with legal advisers in order to assist with all formalities concerning your company.