Cyprus Company Formation

The Cyprus Companies Law, CAP.113.

No. Cyprus company formation can be completed remotely. We handle the full procedure online, including the filings and issuance of corporate certificates, subject to standard KYC and onboarding requirements.

Preferred company names are submitted to the Registrar of Companies for approval. Name approval typically takes 2 to 5 working days. Applications may be rejected if a proposed name is identical or too similar to an existing registered name. Cyprus company names usually end with the suffix LTD or LIMITED.

Following name approval, incorporation is typically completed within 5 to 10 working days, depending on the Registrar of Companies’ workload and the timely provision of the required information and documentation.

Yes. We can provide pre-registered Cyprus shelf companies, which can then be amended to reflect the preferred shareholder, director, registered office, share capital and business profile, subject to onboarding and compliance checks.

A Cyprus company must maintain a registered office address in Cyprus. This must be a physical address and not a P.O. Box.

A Cyprus company must appoint a company secretary. The secretary may be an individual or a corporate entity. For practical and administrative purposes, it is common to appoint a Cyprus based service provider, although the secretary may be of any nationality.

A Cyprus company must appoint at least one director, who may be an individual or a corporate entity. Where Cyprus tax residency and substance are relevant, it is typically advisable for the board and management arrangements to support Cyprus management and control, taking into account the company’s specific facts and activities.

A Cyprus company must have at least 1 shareholder and may have up to 50 shareholders. The same person or entity can act as shareholder, director and secretary, subject to the company’s governance needs and compliance requirements.

There is no minimum share capital requirement to register a Cyprus company. For practical purposes, a common structure is 1,000 shares of €1 each, although the share capital can be tailored to the intended use, ownership and governance arrangements.

Yes. Cyprus applies a comprehensive anti money laundering and counter terrorist financing framework aligned with EU requirements. In practice, Cyprus company formation and banking involve standard KYC and source of funds checks, together with ongoing compliance obligations for companies and regulated service providers.

Public filings typically include the Memorandum & Articles of Association and the company’s director, secretary and registered office details. Shareholder information is also filed in accordance with the applicable requirements. Beneficial ownership information is reportable to the Beneficial Owners Register in line with the relevant obligations. Nominee arrangements may be used to support confidentiality, subject to compliance with all reporting and regulatory requirements.

There is no legal requirement for a Cyprus company to maintain a bank account in Cyprus. Depending on the business model, counterparties and operational needs, we assist clients either with local Cyprus banks or with reputable Electronic Money Institutions (EMIs). The appropriate option is assessed on a case by case basis, taking into account onboarding criteria and commercial requirements.

Timeframes depend on the institution, the company’s activity, the shareholders and the supporting documentation. In many cases, onboarding can take between 7 and 28 working days, subject to compliance review and the timely provision of KYC information.

Certain municipalities impose an annual professional licence fee on legal entities with a registered office address in their jurisdiction. In practice, for companies registered in Limassol, the fee is commonly structured as follows:

1. Independent Companies: An annual fee of €250.
2. Companies within a Group: A reduced annual fee of €150 per company.
3. Dormant Companies: No fee is typically payable where the company is properly classified as dormant.

These fees are municipal in nature and are intended to support local services. Applicability and classification can depend on the facts, the registered office location and the municipality’s practices.

A Cyprus company is required to maintain proper accounting records and, in most cases, prepare audited financial statements.
An annual return (HE32) is prepared annually and filed with the Registrar of Companies in accordance with the applicable rules, generally within 28 days from the date it is made up.
The company must be registered with the Tax Department and obtain a Tax Identification Code (TIC) shortly after incorporation.
Corporate income tax returns are submitted electronically. Provisional corporate tax is generally payable in two instalments during the year (commonly in July and December), with final settlement in accordance with the applicable self assessment process and deadlines. Filing deadlines can be subject to official extensions from time to time.

Currently, the corporate income tax rate of a Cyprus company is a uniform 15% on taxable profits, subject to applicable exemptions, deductions and specific regimes such as the IP Box, where relevant.

Yes. Cyprus has an extensive network of double taxation agreements and also benefits from EU Directives where applicable. Please contact us for guidance based on the relevant countries, income flows and the proposed structure.