March 8, 2011, 5:21 pm
There are many ways to invest in Cyprus and even more reasons. Cyprus offers a
welcoming environment for foreign investment, and the government has a positive
attitude towards it. Entrepreneurs often choose to establish companies as it is one of
the best ways to invest here. In order to do that entrepreneurs must incorporate their
companies, submitting different forms. A simplified way implies acquiring a shelf
company which is an already established and registered company.
There are various types of Cypriot shelf companies. Some of them can be aged, having
had previous activities, and some of them are brand new. Either one must be acquired
through share transfer. It basically means transferring the shelf company's shares in the
name of the buyer. For this purpose both parties need to sign a Share Transfer Agreement for which a notary should be present. Other documents needed are ID-s, certificate of registration in case the buyer is a legal entity.
After the share transfer is concluded, the buyer becomes owner of the company.
The new shareholder is now able to conduct various modifications as to structure
the new company. These modifications include change of address, company name,
bank representatives, adding or changing objects of activity etc. However the date of
incorporation cannot be changed, and any modification needs to be approved by the
Commercial Register of Cyprus and be stipulated in the new Articles of Association.
New shelf companies haven't had commercial activity and have clean records. Their
object of activity varies, law companies in Cyprus offering shelf companies with almost
any desired object of activity. On the other hand, aged companies are more expensive,
mostly due to the trust gained throughout time, and possible business relationships
already established. However these companies need to be thoroughly analyzed, in order
for the owner to be informed on the previous activities, debts, taxes and assets of the
Acquiring a shelf company in Cyprus has many advantages, facilitating entrepreneurs to
commence business immediately. Also it is easier to buy a Cypriot shelf company from
abroad, and there are plenty types suited for every activity.
BridgeWest is able to offer VAT-registered Cypriot shelf companies headquartered in
Cypriot major cities per the requirements of the clients.