Company Registration Requirements

Name of the company
The first step towards establishing an Offshore Company is the approval of the Company's name by the Registrar of Companies. Please provide us with more than one name in order of preference.

Principal activities in which the company may engage
Authorised share capital
The Central Bank of Cyprus recommends that the Authorised Share Capital should be at least CY£1.000 divided into CY£1.000 shares of CY£1.00 each. At least CY£1.000 must be issued and fully paid upon incorporation.

Shareholders
Every Company must have at least two Shareholders. Every Shareholder must provide the Central Bank of Cyprus with banker's references. If confidentiality is considered necessary, the shares may be held by us, in trust for the beneficial owners
We will provide the beneficial owners a properly created Trust Document accompanied by the Share Certificate. The public records kept by the Department of the Registrar and Official Receiver show only the names of the registered owners. As a matter of policy the list of offshore enterprises is considered confidential.

Directors
The Directors of the Company do not have to reside in Cyprus, but for tax planning purposes it is advisable for an Offshore Company to be managed and controlled in Cyprus. Therefore the majority of Directors must be residents of Cyprus. We may recommend Local Directors to be appointed, if considered necessary.

Secretary & Registered office services
The Company must have a secretary and a Registered Office in Cyprus. We can provide you with a Secretary and Registered Office.

Bank introductions
Offshore Companies may open bank accounts with any bank and in most of the main currencies. We will assist you in the opening bank accounts.

Documents
The following documents will be provided to the Owners:
a. Certificate of Registration (English)
b. Copy of the Memorandum and Articles of Association (Greek) c. Certificate of Directors and Secretary (English)
d. Shareholders Certificate (English)
e. Certificate of Address of the Company's Registered Office (English)

SAMPLE BANK REFERENCE

X BANK LTD
LONDON U.K.

The Manager
Central Bank of Cyprus
Nicosia
Cyprus

At the request of Neocleous & Neocleous , Solicitors, we hereby confirm that John Smith of London, is well known to us and in our opinion of good financial standing and trustworthy person to be the Shareholder of a Company to be registered in Cyprus.

xxx

____________________________
for and on behalf of X Bank Ltd

_______________ Date