Cyprus Company Formation
Our company provides services for company registration in the Republic of Cyprus. Our basic offer includes the following services:
• Business consultancy on doing business in Cyprus
• Preparation of documents for company registration
• Provision of nominee directors
• Provision of nominee shareholders
• Provision of a company secretary
• Provision of a registered office address
• Opening a corporate bank account with a foreign bank
• Mail forwarding and secretarial services at all stages
In addition, we offer a range of pre-registered companies of various ages and with neutral names, which you can purchase from us within the hour.
Once the registration process is complete, we provide our clients with the tools to conduct their business in Cyprus from anywhere in the world.
The advantages of offshore companies in Cyprus stem from Cyprus’s membership in the European Union and the Eurozone, combined with low taxes and opportunities for business owner anonymity. Therefore, registering a company in Cyprus is attractive for the following reasons:
- The business is located within the European Union
- One of the lowest tax rates within the Eurozone
- Possibility to anonymise the owners through a nominee service
- Presence of double tax treaties (including with the Russian Federation)
- Negligible minimum share capital (€1)
- All benefits of a prestigious jurisdiction when opening bank accounts
- Advantages of a European company when working with payment systems
Information for company registration in Cyprus:
Company types | LLC, Branch, Partnership |
Possible name endings | Limited / Ltd |
Corporate legislation | Companies Law (1968) as amended |
Share capital | €1 (usually €1000) Can be divided into shares with a nominal value of €1, while only registered shares with a par value are allowed |
Share capital payment required | NO (but possible infringement of shareholders’ rights) |
Are bearer shares allowed? | NO |
Shareholders | min. number – 1 nominee allowed – YES legal entity allowed – YES |
Directors | min. number – 1 nominee allowed – YES legal entity allowed – YES |
Confidentiality | The register of directors and shareholders is open |
Taxation | 10% – the lowest in Europe |
Bookkeeping required | YES |
Reporting required | YES |
Registered office required in the territory | YES |
Secretary | YES |
Shareholders’/Directors’ Meetings | At least once a year (if the number of shareholders and directors is more than one) |
Annual maintenance fee | €1199 |
Financial statements (zero) | €950 |
Company Registration in Cyprus. Procedure.
The procedure for registering a company in Cyprus requires the following information:
- Unique company name (complying with the legislation)
- Memorandum of Association (in Greek)
- Articles of Association (in Greek)
- Information about directors (copies of passports or incorporation documents)
- Information about the share capital
- Information about the secretary (copy of passport)
- Information about shareholders (copies of passports)
- Legal address (proof of ownership/lease)
Our specialists will check the company name, arrange the registration office, translate and apostille the necessary documents.
There is a standard procedure for registration in Cyprus (3-4 weeks) and an expedited one (7-10 days). The expedited procedure is more expensive due to the higher state fee.
Business in Cyprus
The Republic of Cyprus is an island nation in the Mediterranean Sea. From 1977 until its accession to the European Union in 2004, it was a classic offshore zone, with a corporate tax rate of 4.25% levied on companies operating outside the Republic. Since 2004, due to stricter state requirements and an average tax increase to 10%, it has been classified as a “low-tax jurisdiction.”
Below are the main taxes levied on businesses in Cyprus:
- Corporate income tax – 10%
- Defence tax (levied only from residents)
- Capital gains tax (levied on the sale of real estate located in the country, the rate is 20%)
- Stamp duty is payable on all transactions (international companies are exempt from this tax)
- VAT on income from imports, sales of goods or services in the territory of Cyprus (standard – 17%, reduced – 5%, zero – 0%)
- Social cohesion fund tax (2% of the total earnings of all employees, not payable if all staff are foreign workers)
- Personal income tax (progressive scale 0-35%) and social insurance contributions
Overall, the Cypriot economy is considered attractive and prosperous in terms of investment. The ease of doing business in Cyprus is confirmed by its good positions in the rankings (40th out of 183 according to the World Bank & IFC), “economic freedom” (18th out of 179 according to the Wall Street Journal) and “global competitiveness” (47th out of 142 according to the World Economic Forum).
Thus, registering a company in Cyprus can be not only a way of tax optimisation but also a tool for conducting full-fledged business in an investment-attractive country.
“Offshore” companies in Cyprus
Although the Republic of Cyprus has not been an offshore zone for a long time, the term “Offshore in Cyprus” continues to be actively used. Therefore, although formally this would not be correct, due to a certain “volatility” of human speech, today we can say that offshore companies in Cyprus are the most prestigious among all world offshores.
If you need a company in Cyprus, please contact our service. We will qualitatively carry out the entire procedure of company registration. Call us.