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An IBC can either be resident in Cyprus (provided its management and control is in Cyprus) or it can be non-resident (if its management and control is outside Cyprus).
Further an IBC can either operate from a fully-fledged office with permission to employ expatriate staff or it can have its registered office at the office of a local accountant or lawyer (our office address can be used for this purpose).
Whatever the type of IBC, the application procedure is basically the same.
The basic steps and information required for the formation of an IBC are outlined below:
Some important points to note are:
The registration procedure for an IBC can usually be completed within a period of eight working days (five working days if an approved company name is selected).