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Company Formation in Cyprus

Top 5 Advantages of company registration in Cyprus

  1. No minimum share capital
  2. 12.5% corporate income tax
  3. 0% tax on dividen payouts
  4. Modern + business-friendly administration
  5. Possibility to have a nominee shareholder
Packages to choose from
Services
SmallMediumLarge
We do the whole registration process, including the preparation of all needed documents, communication with state authorities and notaries
Incorporation
We provide a local contact person who speaks the language and communicates with authorities
Company contact person
You receive from us a legal address for your company, thus, no need to rent/buy a physical office
Legal address for 1 year
You do not need to visit this jurisdiction personally to incorporate - this will save time and money
Remote incorporation
We accompany you during the whole legal process for a successful incorporation
Notary services
We provide a local contact person who speaks the language and communicates with authorities
Company secretary
If you want to stay in your country of residency and still have individuals working in this jurisdiction for you, we are able to assist finding suitable individuals for your company. These positions include accountants, operational directors or any other position that will be able to assist you conducting your business. So called «nominee directors» are illegal in Europe.
Local personnel
We provide you with the complete accounting needed for this jurisdiction, including monthly and yearly statements
Accounting for 1 year
You grant us a power of attorney to carry out activities for you in the jurisdiction with different powers and terms of validity
Long-term POA
Authenticates the seals and signatures of your official company documents stating the rights and obligations of the entity's members or stakeholders of the company of any form of ownership in accordance with the laws of the jurisdiction
Apostille of documents
A specific amount of hours of legal support by local legal professionals you may use on demand
Additional legal support
We help you to open a corporate account that suits your business model
Corporate account
SHELF COMPANIES
Request
How to start
Choose a jurisdiction1.
Pick a bank2.
Pay for the service using a suitable method3.
Receive credentials of your new legal entity4.
Get credentials of your opened bank account5.
Receive a package with all documents delivered to you6.

Roadmap

How long does it take to register a company in Cyprus?

  • 5-10 working days
  • Around 2 weeks if everything is done remotely

What are the steps to register a company in Cyprus?

The registration process of a company in Cyprus is very simple. The experts of LegalBison will assist you throughout every step of it:

  1. Initial consultation and agreement
  2. Payment of the full invoice
  3. [IF REMOTELY]: Notarization of POA by client
  4. Preparation of registration documents
  5. Document signed at the notary
  6. Official register validity: immediately

Taxes

How high are the corporate income tax in Cyprus?

  • 12.5% corporate income tax
  • No obligation to distribute profits
  • Dividends are wholly exempted from taxation in Cyprus
  • Corporate taxes are to be declared in the Republic of Cyprus by filling the appropriate form

What Double-tax treaties has Cyprus?

Many countries have bilateral conventions to avoid double taxation and prevent fiscal evasion

Andorra, Armenia, Austria, Azerbaijan, Barbados, Belarus, Belgium, Bosnia, Bulgaria, Canada, China, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Iran, Ireland, Italy, Jersey, Kazakhstan, Kingdom of Bahrain, Kuwait, Kyrgyzstan, Latvia, Lebanon, Lithuania, Luxembourg, Malta, Mauritius, Moldova, Montenegro, Norway, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Serbia, Seychelles, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Swiss Confederation, Syria, Thailand, The States of Guernsey, Ukraine, United Arab Emirates, United Kingdom, USA, Uzbekistan

Status: End of 2020

VAT number

Without VAT number

  • Your company will not be eligible to receive VAT refunds, which means everything bought is 19% more expensive (important: B2B payments between two VAT exempt companies are not more expensive)
  • Your company will not have to file monthly tax returns (prerequisite: no one receives a salary), which means low costs

With VAT number

  • The company will be eligible to receive VAT refunds, which means you can make use of the reverse-charge mechanism
  • Monthly tax returns have to be filed, even if no transactions occur
  • It is possible to be granted a VAT number for a Cyprus limited company
  • A request has to be filed to the Cyprus tax administration

Before we help you to apply for a VAT number you should carefully think about the advantages and obligations that go along with it. To register as a VAT payer might be either voluntary or obligatory, depending on the turnover.

Decide first

  1. Do you want to buy a ready-made company or start a new one?
  2. Can you travel or do you want to do everything remotely?
  3. Do you want to deposit a share capital? (no obligation to do so)
  4. What is the goal of your incorporation? (is Cyprus really the ideal pick?)

Speak to our consultants to get a free consultation and guidance on how to choose the best jurisdiction based on your business model.

Documents to provide for company registration in Cyprus

  • Passport copies (a scan) of shareholder/s and director/s, also beneficiary owner if applicable
  • A Power of Attorney (in case of a remote company registration)
  • Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in Cyprus

  • 3 options of your desired name for the company and a company contact email address
  • Names, addresses and emails of all shareholders and board members
  • Short description of your company's activity

Remote incorporation

  • The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
  • A Power of Attorney (POA) from (all) partners/shareholders is needed
  • The POA is sent to you by us based on the services you want
  • You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
  • Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
  • Cyprus is part of the Hague Convention of the Apostille

Accounting and auditing

  • Limited companies in Cyprus are liable to produce and present financial statements on a yearly basis
  • The directors of the company are responsible for keeping proper books of account and records on the basis of which the company's financial statements are prepared
  • A company is exempted from the submission of financial statements if it is in the year of its incorporation
  • A company is exempted from the submission of financial statements if iit is in the year following the year of its incorporation and, it has already convened a general meeting during the year of its incorporation

Residential requirements

What are the residential requirements in Cyprus?

  • A Cyprus limited company requires an address in the Republic of Cyprus, which must not be a letter box office
  • There are no residency requirements for the directors, shareholders and eventual employees of a Cyprus limited company

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.

FAQs about company registration in Cyprus