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CYPRUS

Cyprus Company Formation

Cyprus Company at a Glance

Company type: Limited Liability Company (LTD).

Applicable Law: The Cyprus Companies Law, CAP.113;

Company name: Desirable names are submitted to the Registrar of Companies for approval. It can take between 2-5 working days to get a name approved. Name application can be rejected due to similarity with Company names already registered. Company names must end with the suffix LTD or LIMITED;

Incorporation timescale: After name approval, it usually takes 5-10 working days, depending on the workload of the Cyprus Registrar of Companies;

Shelf Companies: YES available;

Registered office: YES it is a requirement. A physical address is needed, and not a P.O. Box;

Company Secretary: YES it is a requirement and can either be a natural person or a legal entity, preferably Cyprus resident, but can be of any nationality;

Company Director: YES it is a requirement and can either be a natural person or a legal entity, must be a resident of Cyprus in order to meet residency criteria for tax purposes;

Annual Returns requirement: YES

Financial Statements requirement: YES

Same person or legal entity can act as Shareholder (Member), Director and Secretary;

Minimum 1 Shareholder (Member), maximum 50;

Minimum share capital: Usually 1000 shares of EUR1 each;

Details filed with the Registrar of Companies and found on public record: Memorandum & Articles of Association, Shareholder, Director, Secretary and Registered Office. The identity of the Beneficial Owner can be protected through the use of Nominees.

Strict confidentiality laws apply;

Anti-money laundering legislation in place? YES

Double Taxation Agreements in place? YES, please contact us for a full list of countries with which Cyprus has entered into Agreements for the avoidance of Double-Taxation;

Corporate tax: Uniform 12.5% on profits.

Why a Cyprus Company?

Taking into consideration and acknowledging the competition targeting Cyprus from other low tax or no tax jurisdictions, Cyprus continues to provide a complete value proposition for foreign investors as a financial and business centre. Numerous incentives and tax reasons for using a Cyprus company include:

  • Member state of the EU.
  • Modern tax regime acceptable by the EU.
  • One of the lowest corporation tax rates in Europe (12.5%).
  • Dividend income is exempt from corporation tax.
  • Effective tax on royalty income of 2.5%.
  • No capital gains tax on profit from sale of securities*.
  • No withholding tax on payments to non-residents (dividends, interest and royalties).
  • Only 20% of profits generated from IP rights (royalties) are subject to tax.
  • Wide treaty network and use of EU Directives.
  • Restructuring legislation in line with the EU Merger Directive extending to companies in non-EU countries.
  • New Scheme for granting a Cyprus passport.
  • Added commercial value and monetary benefits due to ability to register for VAT.
  • International business centre with efficient legal, accounting and banking services.
  • Advanced Telecommunications network and infrastructure.

 

Cyprus Company Formation Fees

INCORPORATION FEESPrices in Euros (€)
Price includes:
– Government fees
– Preparation and filing of all necessary paperwork to register the company
– Provision of a registered office and secretary for the first year
– Certificate of incorporation (Greek and English)
– Certificate of directors and secretary (English)
– Certificate of registered office (English)
– Memorandum and Articles of Association (Greek and English)
– Trust deeds (if applicable)
– Share certificates
– Rubber company seal
– Appointment of first directors
– Register of Directors and Members
– Tax registration
CORPORATE PACKAGE €1200
ANNUAL FEES (if required)
Secretary (per annum)€400
Registered office (per annum)€300
Nominee shareholder (per annum)€300
Nominee director (per annum)€600
Annual fee payable to the Companies Registrar€350
ADDITIONAL SERVICES
Apostilled set of company certificates€80
Apostilling of other documents (per document)€110
Opening of a bank account€300
Power of attorney€100
Certificate of good standing€100
Certificate of incumbency€125
Amendment of company documents (per document)€200
Change of name€200
Name check (first name check is included in the incorporation price)€50
Tax residence certificate with apostille€250
Courier (at cost)---
Transfer-ins – the client only pays the actual cost of transferral to our office---
VAT registration€250
VIES registration€100
Tax registration€150
Mail forwarding (per annum)€100

All of the above prices are exclusive of 19% VAT.

Proceed to Online Cyprus Company Registration Form

Cyprus Company Incorporation Registration

Incorporating your Cyprus Company is fast and simple with us.  We offer competitive fees with no hidden costs.  In addition, our law firm offers nominee services for full confidentiality.

We can complete your Cyprus company formation in about 8 days.  A Cyprus company can open a bank account in any jurisdiction and we provide assistance if needed.