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We can attend to everything you need to incorporate and maintain a company in Cyprus.
Are you looking to expand your business in the Mediterranean region? Look no further than Cyprus - the third largest island in the Mediterranean Sea!
With decades of experience as a major financial hub, Cyprus has become a popular choice for corporations seeking to establish themselves in the European Union.
Our team in Nicosia is well equipped to handle all your corporate needs, offering our full range of services to ensure your company thrives in this exciting new market. We understand that incorporating a company in a new jurisdiction can be daunting, but the process will be a breeze with our expert guidance.
By setting up your business in Cyprus, you will be in a respectable jurisdiction, making it easier to do business with other companies and obtain bank or merchant/PSP accounts. Plus, with our team's valuable insight and support, you will be well prepared to navigate any challenges that arise along the way.
There are several things to remember when incorporating a company in Cyprus.
For us to set up your company in Cyprus, we would first require, as per EU and local regulations, the documents of the shareholding entities (if applicable) and the UBOs (Ultimate Beneficial Owners). We will also require documentation on the contact persons for the entity.
Our compliance team will conduct the onboarding when we have all the required documents. Once the documentation is accepted, we will incorporate the company in Cyprus. The Registrar typically takes about two weeks to incorporate the company.
We also offer shelf companies (according to availability) at an extra cost. These are already legally set up but have yet to become active.
1. Contact us, and we will send you further information and a proposal for your company in Cyprus, which needs to be signed by the beneficial owners.
2. Settle our retainer fee for the incorporation of the Cyprus company. The shareholding company or the beneficial owners should pay for this. The retainer fee will be used to settle future company charges.
3. Provide us with an intended structure for your company, and we will send you the exact list of due diligence documents we require.
4. Once these are provided and our compliance team has conducted the client acceptance meeting, we will proceed with the incorporation with the Registry of Companies.
Gaming operators in Curaçao or other non EU countries usually look for payment processing with reputable EU Payment Service Providers (PSPs) or acquiring banks. Due to strict regulatory requirements, such EU based banks and PSPs tend to refuse to enter into agreements with non EU based companies.
WHAT IS THE
PURPOSE OF THE EU
As EU based PSPs and acquiring banks are restricted from entering into agreements with non EU companies, a solution (accepted by PSPs) is to incorporate an EU based subsidiary into the non EU licensed entity. This company can then be used to enter agreements with banks and PSPs on behalf of the non EU company and fulfills the operational task of processing entity within its corporate structure. The licensed non EU entity as the shareholder would retain control over the EU Payment Processing entity.
After Malta ceased to be an option for processing payments on behalf of non EU companies, operators sought alternatives to process payments with their EU PSPs. We researched several jurisdictions, and although many countries were initially considered as a good substitute, they were not necessarily a strong option, as (i) some had uncertainties when it came to the legal framework, and (ii) Cyprus was by far the best cost - quality solution.
The Curaçao - Cyprus type of setup is a viable option for Curaçao or other non EU B2C operators as long as the following criteria are met:
The Cyprus company should only provide payment processing services to one company; and
The non EU entity is a 100% shareholder of the Cyprus company– i.e., it should be within the same ownership structure.
Setting up a company in the Republic of Cyprus can be a great way to expand your business in the EU and take advantage of the country's favorable tax system and business friendly environment.
We can help you every step of the way!
CONTACT US TO LEARN MORE ABOUT OUR
CYPRUS RELATED SERVICES!