Cyprus
Incorporation package includes
- Incorporation of a Cyprus company
- 1 year Registered Office Address
- 1 year Company Secretary Services
- Preparation of necessary resolutions and documentation
- Ensuring your company remains in good standing
- Providing reminders and support for annual filings and renewals
Why form a company in Cyprus?
Favorable Tax System
Cyprus has a competitive corporate tax rate of 12.5%, one of the lowest in the European Union. The country also offers various tax exemptions for dividends, capital gains, and foreign-sourced income.
Access to EU Market
As a member of the European Union, Cyprus provides businesses with access to the EU single market, allowing for easier trade and movement of goods and services across Europe.
Double Tax Treaties
Cyprus has signed more than 60 double tax treaties, helping to reduce or eliminate double taxation on income earned in other jurisdictions.
Business-Friendly Environment
Cyprus has a stable legal system based on English common law, providing a business-friendly environment for companies to operate efficiently and securely.
Flexible Corporate Structures
Cyprus allows for various corporate structures, including private limited companies (Ltd), branch offices, and holding companies, providing flexibility for international investors.
Excellent Infrastructure
Cyprus offers modern infrastructure, a well-developed financial sector, and access to professional services such as banking, legal, and accounting firms.
Enjoy Cyprus's tax benefits
Low Corporate Tax Rate
One of the lowest in the EU, at 12.5%.
No Capital Gains Tax
Profits from disposals (except for real estate) are exempt.
Double Taxation Treaties
Broad network reduces tax on cross-border transactions.
No Withholding Tax on Dividends
Dividends are not taxed at source.
Tax Exemption on Foreign Dividends
Certain foreign dividends are tax-exempt.
Delivery timeline
The process of incorporating a company in Cyprus is relatively quick and can typically be completed in 5-10 business days. Below is an overview of the typical timeline:
Pre-Incorporation
Choose your company name, prepare the necessary documents, and decide on the company structure.
Company Registration
Submit the required incorporation documents to the Cyprus Registrar of Companies for approval and registration.
Issuance of Certificate & Documents
Receive the Certificate of Incorporation, the Memorandum & Articles of Association, and the company’s tax registration number.
Post-Incorporation
Finalize additional services such as opening a corporate bank account, appointing a company secretary, and obtaining the necessary licenses.
Required documents
Once we receive the required documents, we will handle the entire incorporation process, ensuring full compliance with Cyprus’s laws and regulations. To incorporate a company in Cyprus, the following documents are required:
Director and Shareholder Information
- Copies of passports or ID cards for each director and shareholder.
- Proof of residential address (e.g., utility bill or bank statement).
Company Name
Proposed company name (subject to approval by the Cyprus Registrar of Companies).
Business Activities
A description of the business activities that the company will engage in (required for company registration).
Registered Office Address
Proof of the company’s registered office address in Cyprus (can be provided through our service).
Memorandum & Articles of Association
Details of the company’s structure, including share capital, the number of shares, and the rights of shareholders.
Proof of Financial Capacity
Bank references or proof of the initial capital required for the business.
Frequently answered questions
Find answers to common questions about our services and the company formation process. We’re here to provide clarity and support for your business journey.
What is the minimum capital required for a company in Cyprus?
There is no legally mandated minimum capital for a Private Limited Company (Ltd) in Cyprus. However:
- A standard authorized share capital is usually set at €1,000, divided into 1,000 shares of €1 each, though this can vary based on business needs.
- Certain industries, such as finance or investment firms, may require higher capital as per regulatory requirements.
Our team at Speedy Incorp LLP can guide you in determining the appropriate capital structure for your company.
What types of companies can I register in Cyprus?
The most common type of company in Cyprus is a Private Limited Company (Ltd). Other options include:
- Public Limited Company: Suitable for larger enterprises planning to raise capital through public offerings.
- Branch Office: For foreign companies looking to expand into Cyprus.
- Partnerships: General and limited partnerships for smaller ventures.
- Investment Funds: For managing assets and investments.
What are the requirements to register a company in Cyprus?
To register a company in Cyprus, you need:
- A unique company name approved by the Cyprus Registrar of Companies.
- At least one director and one shareholder (individual or corporate entity).
- A registered office address in Cyprus.
- A Company Secretary (optional but recommended for corporate governance).
- A minimum share capital, though no specific amount is legally required (varies by industry).
Our team at Speedy Incorp LLP can assist with the incorporation process and related services.
What are the ongoing compliance requirements for a Cyprus company?
Compliance requirements include:
- Annual Returns: Submit to the Cyprus Registrar of Companies.
- Accounting and Auditing: Prepare audited financial statements annually, regardless of size.
- Tax Filings: Submit corporate tax returns to the Cyprus Tax Department.
- VAT Registration and Reporting: If applicable, depending on the nature of your business.
- Beneficial Ownership Register: Maintain updated records of beneficial owners.
Non-compliance may lead to penalties or deregistration of the company.
Can I open a bank account for my Cyprus company remotely?
Yes, many Cyprus-based and international banks allow for remote account opening. However:
- Due diligence and Know Your Customer (KYC) requirements must be met, including providing detailed company documentation.
- Some banks may require an in-person meeting with the directors or beneficial owners.
Speedy Incorp LLP can assist in arranging introductions to banks that facilitate remote account setups.
