The Companies Act Chap. 113 allows for the establishment of a limited liability company (LTD) with one shareholder, a one-person company. Of course, there is also the possibility with more shareholders (multi-person).

The establishment of the company requires

• The approval of the name of the company, and determination of the object of the company. It should be noted that Cypriot law allows for an extended scope of employment of the company
• Registered capital and issued capital where the company can be incorporated with the lowest capital. The issued capital that the company will issue for each shareholder must be paid up within the financial year of the company’s incorporation.
• Board of Directors where the company may be composed of only one person , if the company is a one-person company or a company with more than one person. The company to benefit from the overall Cyprus taxation it must appear that decisions are made in Cyprus.

The company registration time is one week after the approval of the company name.