Type of Company - Private Limited Liability Company
Legislation – Civil Law
Company name - None english company names are allowed
Time-scale for incorporation – 2 to 3 days
Change in domicile is permitted
Disclosure of beneficial owners is not required
Double tax treaties - with 48 countries
Shelf companies are not available
Money laundering legislation is in existence
Local Requirements
Registered Office must be maintained
Company Secretary must be a natural person and can be of any nationality or residency
Public recording of shareholders and directors are required
Accounts are to be audited and are required for public filing
Corporate Requirements
Minimum number of shareholders - Two (2) however one (1) shareholder is possible in case of single-member companies)
Minimum number of directors - One (1). Can be of any nationality or residency
Minimum capital requirement – 20%
Standard Authorised Capital – EUR1,164.69
Bearer shares are not allowed
Corporate Directors are permitted
Annual Requirements
Annual return and annual statutory meetings are required, together with an Annual Return fee of LM70 (based on the authorized share capital of the company)
Statutory accountingand audit are required
RegistrationFee of EUR350 at incorporationfor companieswith authorized capital not exceeding EUR4,600
Taxation – Income tax at the normal rate of 35% which can be reduced to a beneficial rate at shareholders' level. VAT applicable rate at 18% from 1st May 2004 since joining EU, with some exceptional categories of goods and services at 5%
