Company in Cyprus
Our company provides services for the registration of legal entities in the Republic of Cyprus. Our basic offer includes the following services:
• Consulting 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
• Opening a company account with a foreign bank
• Mail and secretarial services at all stages
In addition, we have a selection of pre-registered companies of various ages and with neutral names, which you can purchase from us within an hour.
After the registration procedure is completed, we provide our clients with the tools to continue doing business in Cyprus from anywhere in the world.
The advantages of offshore companies in Cyprus are a result of Cyprus’ membership in the European Union and the Eurozone, combined with low taxes and opportunities to conceal business owners. Thus, registering a company in Cyprus is interesting for the following reasons:
1. Business presence within the European Union
2. Taxation is one of the lowest in the Eurozone
3. Possibility of owner anonymity through nominee services
4. Availability of double taxation treaties (including with the Russian Federation)
5. Negligible minimum authorised share capital (1 EUR)
6. All the advantages of a prestigious jurisdiction when opening bank accounts
7. 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 |
| Authorised share capital | 1 EUR (usually 1000) May be divided into shares with a par value of 1 EUR, with only registered shares with a par value being permitted |
| Is payment of the authorised capital required? | NO (but possible disenfranchisement of shareholders) |
| Are bearer shares permitted? | NO |
| Shareholders | min. number – 1 nominee allowed – YES legal entity allowed – YES |
| Directors | min. number – 1 nominee allowed – YES legal entity allowed – YES |
| Confidentiality | Register of directors and shareholders is open |
| Taxation | 10% – the lowest in Europe |
| Is bookkeeping required? | YES |
| Is reporting required? | YES |
| Is a registered office required in the country? | YES |
| Secretary | YES |
| Shareholders’/Directors’ Meetings | At least once a year (if there is more than one shareholder and director) |
| Annual maintenance fee | 1199 EUR |
| Financial statements (zero) | 950 EUR |
Registration in Cyprus. Procedure.
The procedure for registering a company in Cyprus requires the provision of the following information:
• Unique company name (complying with the requirements of the law)
• Memorandum of Association (in Greek)
• Articles of Association (in Greek)
• Information about directors (passport copies or incorporation documents)
• Information about the authorised capital
• Information about the secretary (passport copy)
• Information about the shareholders (passport copies)
• Legal address (proof of ownership/lease)
Our specialists carry out the company name check, registration office registration, translation and apostille certification of the necessary documents.
There is a standard registration procedure 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 a state located on an island 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 increase in taxes to an average of 10%, it has been classified as a “low-tax jurisdiction”.
Below are the main taxes levied on businesses in Cyprus:
1. Corporate income tax – 10%
2. Defence tax (levied only on residents)
3. Capital gains tax (levied on the sale of real estate located in the country, rate – 20%)
4. Stamp duty (paid on all transactions (international companies are exempt from this tax))
5. VAT on income from imports, sales of goods or services in Cyprus (standard – 17%, reduced – 5%, zero – 0%)
6. Social cohesion fund tax (2% of the total earnings of all employees, not payable if all staff are foreign workers)
7. Personal income tax (progressive scale 0-35%) and social insurance contributions
Overall, the Cypriot economy is considered to be 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), “overall 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
Despite the fact that the Republic of Cyprus has long ceased to be an offshore zone, the term “Offshore in Cyprus” continues to be actively used. Therefore, although formally it would not be correct, thanks to a certain “volatility” of human speech, today it can be said that offshore companies in Cyprus are the most prestigious among all the world’s offshore jurisdictions.
If you need a company in Cyprus, please contact our service. We will carry out the entire company registration procedure with high quality. Call us.
