Greek (Greece)

Re-domiciliation is the procedure under which a company can transfer its seat of incorporation from one country to another, provided that its existing jurisdiction and its Memorandum allows the transfer and the continuation under the new jurisdiction.

Why Cyprus?

Over the last years, more and more companies from all around the world choose to re-domicile in Cyprus. There are many reasons why Cyprus is so popular. Some of the numberous benefits of a company re-domiciled in Cyprus are the following:

  • Cyprus is a member of European Union
  • 12,5% corporate tax rate - one of the lowest in European Union
  • Tax-exempt dividend income
  • No withholding taxes on payments of dividends, interest and royalties irrespective of recipient
  • No taxation on profits from the sale of securities
  • No taxation on profits of foreign permanent establishments
  • Wide tax treaty network
  • No thin capitalization rules

What is the procedure?

  • A local representative shall be appointed to undertake the procedure of re-domiciliation in Cyprus.
  • The representative has to file the application for re-domiciliation (form “ME1”) with the necessary supporting documents, including but not limited to the affidavit sworn by the director of the company at the Registrar of any District Court in Cyprus, the resolution of the company for the re-domiciliation and recent certificates of the company, to the Registrar of Companies of Cyprus. Additional documents may be requested depending on the jurisdiction where the company was initially incorporated.
  • When the application is accepted, the Registrar of Companies of Cyprus issues the temporary certificate of continuation. By the temporary certificate of continuation, the company is considered to be duly incorporated in accordance with the laws of Cyprus, provided that the certificate of discontinuation will be issued.
  • The certificate of discontinuation must be filed to the Registrar of the country where the company was initially incorporated, which in turn issues the certificate of discontinuation. This certificate indicates that the company is removed from the Registrar of the country of origin.
  • Then, the certificate of discontinuation is filed at the Registrar of Companies of Cyprus and the final certificate of continuation is issued. From this stage, the company officially continues in Cyprus.

The content of this article is intended to provide a general guidance to the subject matter. Globalserve Consultants Ltd can advice and assist you on re-domiciliation of companies to Cyprus. In case you need any clarification, please contact us through our website or send us an e-mail at Αυτή η διεύθυνση ηλεκτρονικού ταχυδρομείου προστατεύεται από τους αυτοματισμούς αποστολέων ανεπιθύμητων μηνυμάτων. Χρειάζεται να ενεργοποιήσετε τη JavaScript για να μπορέσετε να τη δείτε.

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