Nominal shareholders and directors in Cyprus are legal representatives and accountants acting on behalf of the company.
This is another advantage of registering a company in Cyprus

Is the authorized capital necessary?
A company in Cyprus does not have obligations regarding the minimum amount and payment of capital. It can be nominal, but denominated in euros.

What shares can Cypriot companies issue?
Any shares, except bearer shares.

What about shareholders?
A Cypriot company must have at least 1 shareholder, and there are no restrictions on his residency here. A shareholder can be a physical or legal entity. Also, in Cyprus, it is mandatory to hold an annual meeting of shareholders.

What about the directors or the board of directors?
As in the case of shareholders, a company in Cyprus must have at least one director, at least a legal person or an individual. The director's resident status in Cyprus is irrelevant.

And what about company secretaries in Cyprus?
Similar to the previous points: at least one secretary, a natural or legal person whose residency is irrelevant.

Need an office?
Yes, a company in Cyprus must have a registered office in the country. It is impossible to open a company in Cyprus without an office.

The annual report is mandatory

The company's income received worldwide is subject to taxation. Tax rates are as follows:

Profit tax – 12.5%;

Capital tax: 20%, however, this rate applies only to income from the disposal of real estate in Cyprus or from the disposal of shares in a company holding real estate in Cyprus.

VAT – 19% (for trade in goods or services, however, a reduced or even zero rate may apply to some activities).

Repatriation tax:

Dividends - 0%;

Percentages – 0%;

Royalties - 0% (10% for royalties used in Cyprus; 5% for royalties from cinema and TV).