A Shelf company is the easiest way to acquire a company in Cyprus. Such companies are essentially established beforehand and the entrepreneur who wishes to purchase it may use it straight away.
Such companies have not carried out any business until they are purchased by a customer. Usually, the shareholder, the chairman and the secretary in these companies are Fiduciary Companies. Particulars of the company may, however, change as soon as the company is undertaken by the customer. Otherwise, suitable trusts may be issued for the benefit of the actual beneficiaries of the company who are in essence transferring the actual ownership of the company to the customers. The capital, the name and the articles of association of the company may also be amended whenever the customers wish to do so.
The incorporation of a new company is usually used when the customer wants a particular type of company and they are not interested in the time of incorporation.
Such companies have not carried out any business until they are purchased by a customer. Usually, the shareholder, the chairman and the secretary in these companies are Fiduciary Companies. Particulars of the company may, however, change as soon as the company is undertaken by the customer. Otherwise, suitable trusts may be issued for the benefit of the actual beneficiaries of the company who are in essence transferring the actual ownership of the company to the customers. The capital, the name and the articles of association of the company may also be amended whenever the customers wish to do so.
The incorporation of a new company is usually used when the customer wants a particular type of company and they are not interested in the time of incorporation.
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