There are no such restrictions. Anyone can register a company in Cyprus irrespective of nationality, country of residence or other circumstances. The owner of a company registered in Cyprus does not have to be a resident in Cyprus.
If one uses the expedited process it usually takes around 2 or 3 working days for the Companies Registrar to approve the name of the company. From the date the name has been approved it takes around 5 working days until the company is registered.
a) Cyprus is a well established financial centre that has the professionals with vast experience in offering corporate services to foreign owners. Lawyers, accountants, banks, other service providers and the Companies Registrar are highly experienced and skilled in offering their services to companies with owners from countries throughout the world.
b) The country has a very good legal system that is based on English Common Law and stable tax law.
c) Corporate tax rate is 12,5% and one of the lowest in Europe.
d) Cyprus has double tax treaties with more than 40 countries.
e) Process to form a company is quick, simple and straightforward.
f) No tax on the transfer of shares.
g) No withholding tax for dividends paid to non-residents.