Welcome to FINWYN CONSULTANCY LTD, your reliable guide to company registration in Cyprus.
Company Registration in Cyprus
Our services ensure a smooth process for company registration in Cyprus, a jurisdiction favourably recognized internationally. At the moment it is possible to open a company in Cyprus, without fear of the latter on the international market, as Cyprus is not offshore, so does not fall into the black list of most countries. All Cypriot companies are officially registered with the State and there is a requirement to hold mandatory annual shareholders’ meetings, to submit financial statements to supervisory bodies and to audit.
Partner with us to open a company in Cyprus swiftly and securely in this advantageous business landscape.
Main advantages of company registration in Cyprus
- One of the lowest corporate tax rates in Europe -12.5%
- The possibility of operating in any EU country
- Possibility to open an account in European Bank
- Nominee services are legally available
- Double Taxation Treaty with more than 60 countries
- The possibility of obtaining a tax residence certificate
- Low cost of organization and business
- No share capital required
Company formation in Cyprus
Pricelist
| Company formation in Cyprus – BASIC |
- Company Registration
- Payment of State Duty
- Legal address for 1 year
- Share Certificate
- Company Seal
- Company Secretary
- Completely Remotely
- Nominee Director
- Nominal shareholder
1,750 EUR
| Company formation in Cyprus – Gold |
- Company Registration
- Payment of State Duty
- Legal address for 1 year
- Share Certificate
- Company Seal
- Company Secretary
- Nominee Director
- Nominal shareholder
- Completely Remotely
2,450 EUR
| Ready-made company in Cyprus – Basic |
- Sale of a finished company – 100% pure history
- Payment of state fee for re-registration
- Legal address for 1 year
- Share Certificate
- Company Seal
- Company Secretary
- Completely Remotely
- Nominee Director
- Nominal shareholder
from 2,950
| Ready-made company in Cyprus – Gold |
- Sale of a finished company – 100% pure history
- Payment of state fee for re-registration
- Legal address for 1 year
- Share Certificate
- Company Seal
- Company Secretary
- Nominee Director
- Nominal shareholder
- Completely Remotely
from 3,950 EUR
ADDITIONAL SERVICES FOR A COMPANY FORMATION IN CYPRUS
The advantages of opening a company in Cyprus for international entrepreneurs
- is one of the best international reputations, especially when compared to classic forms of offshore with similar taxation;
- has a double taxation protection agreement with more than 60 states worldwide;
- tax rates are reduced for certain activities; < financial statements comply with applicable international standards;
- does not provide for tax payments on external and internal dividends, income from securities sales, capital gains;
- there are favourable conditions for the registration of holdings due to the loyal control of state authorities, there is no tax on consolidation;
- low maintenance costs compared to most EU countries;
- simple company registration without a lot of bureaucratic procedures;
- the possibility of using a nominal service is allowed,
- the possibility of transferring the company’s losses for a new tax period until full repayment without negative consequences for the company and its owners.
Cyprus uses one of the most loyal tax policies within the entire European Union. Owners of the Cyprus company get such undeniable advantages as zero tax on transactions with securities, revenues from foreign subsidiaries and subsidiaries, conversion of real estate into possession.
The Government of Cyprus has made it possible for international entrepreneurs not only to establish business in Cyprus but also to live freely both in Cyprus and abroad.
Company registration in Cyprus – a number of undeniable advantages:
- it is possible to run a business entirely remotely with minimal personal involvement and low costs compared to other EU countries;
- no minimum capital requirements;
- company registration documents are available in English;
- within 2-3 business days, you can obtain the number of the VAT payer;
- it is possible to engage the nominee director and nominee shareholder, which gives the maximum possible confidentiality to the beneficiary of the company;
- the opportunity to buy a ready-made company, which allows you to quickly start operations;
- the limited liability company in Cyprus (Ltd) in case of closure can be restored within the next 20 years;
- liquidation of business is carried out at the request of the owner with a minimum set of procedures;
- the country is not on the OECD blacklist, which protects the Cyprus company from difficulties in cooperating with other foreign companies.
The main reasons to register a business in Cyprus:
- income tax – 12.5%, one of the lowest in Europe;
- with the widespread introduction of online services, virtually all registration procedures can be performed remotely, including the management of the company and its bank account;
- not necessarily a resident of Cyprus – a foreigner may establish a company in Cyprus;
- documents, certificates and certificates are allowed to be submitted in English;
- after the company’s establishment, you can open both corporate and personal bank accounts;
- there are no strict requirements regarding the size of the authorized capital of the company;
- service to the company is significantly cheaper than in other EU countries;
Getting a VAT number in Cyprus
The new company will also have to register with the tax office to become a VAT payer. This can be done in person or by proxy. In order to pay social contributions, it will also be necessary to register the company with the Ministry of Labour of Cyprus.
More information about getting the VAT number for the Cyprus company is available here.
Organizational requirements for company registration in Cyprus
The activity of commercial organizations in Cyprus is carried out in accordance with the Law «About Companies». The legislation of Cyprus is based on British law, with some amendments, which greatly simplifies the procedure of registration and business for international entrepreneurs.
Changes in 2003 have virtually eliminated the distinction between offshore companies and local firms. Only status is considered – whether the organization is a resident of Cyprus.
A business whose manager is present in the country shall be recognized as a resident of Cyprus. The period of stay shall not be less than 183 days.
You can register a company in Cyprus in almost any field. If financial, insurance or banking activities are to be carried out, a license will be required.
Requirements for Cyprus company:
- at least one director;
- a minimum of one shareholder;
- one person may act as director and shareholder;
- may involve not only natural persons but also legal entities as director;
- is allowed to use nominal service;
- one secretary, who can only be a local or non-resident individual.
Requirements for international entrepreneurs:
- the founder must be over 18 years old
- the founder must confirm the address of registration or actual residence
- the founder of the company must undergo AML-verification and verify his identity
- the founder must fill in a form about the company to be established
Step-by-step Registration of the Company in Cyprus
With our help, you will be able to register a company in the Republic of Cyprus as soon as possible. You do not need to understand all the intricacies and prepare documents. It is enough to contact us and after consultation to provide the minimum package of documents:
- passport
- proof of residence
- a description of the company’s future activities
- the name of the company (preferably not less than 3 options)
If it is assumed that there will be several owners in the structure of the company – passport and proof of residence must be provided for each participant. In case of a more complex structure of the company, it is necessary to describe it in more detail, after which the lawyers of FINWYN CONSULTANCY LTD will provide the list of necessary documentation.
On the basis of these documents, we will prepare everything necessary and in a short time we will register the Company for you.
In addition to registration of the company from scratch, we offer ready-made solutions – re-registration of the already existing Cyprus company to the new owner.
It should also be borne in mind that your company must not have a mass legal address in the territory of the Republic of Cyprus. You can rent an office, buy a room or contact our specialists who are always happy to help you.
List of documents submitted to the Register in Cyprus
- secretary’s note;
- director’s reference;
- Certificate of registration in Greek or English;
- Certificate of official registered address;
- copies of the shareholders’ passports;
- Company Charter and Founding Agreement;
- key points from the first board meeting;
- the name approved in the Trade Register;
- non-trade order of activity;
Additional information about company registration in Cyprus
Depending on the direction of business, the authorized body must issue a license, to confirm the right of the company to conduct its business.
It’ll take about a week to get a permit. However, if the company is engaged in insurance or banking activities, the licensing process may take several months.
More information on licensing in Cyprus can be found here.
It is possible to hold accounts in Cyprus as a resident of the country and a foreign citizen.
To open an account with the Cyprus Bank, you will need to file a package of documents, including:
- a notarized copy of the passport
- proof of address of actual residence (for example, utility bills)
- confirmation of the legality of income (tax declaration)
- recommendations from other companies, banks in Europe, with which the applicant previously cooperated
Some banks ask for other documents – the list needs to be specified in a particular financial institution. The time and cost of opening an account depends on the selected service package and the bank’s policy.
Limited liability companies in Cyprus (Ltd) have such officers as director, secretary, shareholders, beneficiaries.
1. Headmistress
Directors appoint shareholders and, if necessary, decide on their replacement. The Director may be a resident or non-resident, a natural or legal person, and has the authority to sign the company and to manage the company’s bank accounts. Once a company is established in Cyprus, the information about its director is placed in the Register of Companies and becomes publicly available.
2. Secretary
The presence of a secretary is a must for all Cypriot companies. Among his duties – filing documents in the Register, storage of documents, corporate correspondence and other. The right of signature does not have the secretary. Mainly secretarial functions entrust legal companies that provide a full range of corporate services to international non-resident entrepreneurs of Cyprus.
3. Shareholders
The shareholders of the Cyprus Company may be natural or legal persons, including non-residents of the country. Information about shareholders and their shares shall be recorded in the Register and become available to third parties only upon special request.
4. Beneficiary
The beneficiary of the Cyprus company is the person who manages the company. The information about the beneficiary of the Cyprus company is confidential and not is registered in the Register of Companies, and also not subject to disclosure to third parties – banking, auditing and other organizations.
Features of taxation and reporting
The Cyprus company undertakes to pay tax. The profit tax is 12.5%, for domestic transactions is provided VAT of 19%. Among the undeniable advantages, I would like to highlight the absence of taxes in key areas – acquisition of real estate, inheritance, receipt of assets, payment for municipal services. In addition, income from securities transactions and dividends are not subject to taxation.
Required annual reporting for Cyprus Company:
- financial statements with the opinion of an external auditor;
- the tax return for the reporting period;
- financial statement in Greek;
- annual report with information about the secretary, directors and shareholders.
The first three years of the company’s operations are reported to the Tax Department. In addition, a document in Greek is submitted to the Registration Chamber of Cyprus.
| Profit Tax |
0-12.5% | The need for an annual report |  |
| VAT |
0-19% | Need for an audit opinion | |
| Need for accounting | |
Physical office |
No |
- The data about the director of the company in Cyprus are freely available, while the name of the owner is not subject to disclosure.
- Reports on the company’s activities must be submitted in two languages – English and Greek. The reports include an annual financial report and a tax return.
- Cyprus has a favourable regime for the taxation of intellectual property income – the company’s profit tax rate can be reduced to 2.5%.
- It is recommended that at least one of the company’s directors have a registration in Cyprus, as this will allow you to take advantage of the great advantages of the jurisdiction.
Prior to the registration of a company in Cyprus should be aware of the existing organizational and legal forms of business. The most popular form of business activity is Private company limited by shares – a company with limited liability.
- Public company limited by shares – limited liability company
- Exempt private company – a company of the closed type, exempted from taxation
- Company limited by guarantee – a company with the responsibility of participants within the guaranteed amount
- Partnership – partnership
- Trust – Trust
General information on Cyprus
Capital |
Population |
Currency |
Languages |
Area |
| Nicosia | 1,229,000 (838,897 southern Cyprus) |
Euro | Greek and English | 9.3 thousand km2 |
The Republic of Cyprus is a former British colony. Today it is a full member of the European Union with a developed economy and the possibility of simple business registration. Although Greek and Turkish are recognized as official languages, English is widely spoken and since 2008 the official currency of Cyprus is the euro. All this simplifies the conduct of business for international entrepreneurs.
Today, investments are actively made here thanks to the attraction of capital from the EU, Asia, Middle East, Russia and South America. It is also home to the largest transport hub, which provides a large volume of goods and goods for various purposes.
FREQUENTLY ASKED QUESTIONS
You can register a company in Cyprus on a personal visit to the island or remotely. You need to choose a company form, prepare documents and apply to the register. Basic documents: copy of passport and confirmation of residence. The new company opens in 5-7 working days.
Yes, Cyprus allows you to open companies for a variety of activities: Trade, IT business, Intellectual Rights Management (IP), Holding.
Registration of the company in Cyprus takes 5-7 working days, subject to the correct submission of documents. The registration period of the company is extended if you need to obtain a license to operate.
Personal presence to register a company in Cyprus is not necessary, all necessary legal procedures can be carried out remotely.
Among the obvious advantages of the company’s registration in Cyprus can be mentioned financial stability of the country, its membership in the European Union, low taxes (VAT 19%, corporate tax 12.5%) and the ability to conduct international business (no double taxation with more than 60 countries).
A Cyprus company may have one or more shareholders, who may be natural and legal persons, including non-residents of Cyprus.
Initially it is necessary to choose the name of your enterprise, which is checked for the absence of analogues in the register of companies. In the name must be the end of Limited, it is not allowed to use words and expressions, hinting or directly indicating illegal activities. The next step is the legalization of the company’s documents with the subsequent submission of documents to the register. The documents must include the address of the office to confirm the legal address of the company and proof of the economic presence of your business in Cyprus.
The standard cost of registration offshore in Cyprus – from 1, 750 EUR. This amount includes the first year of service of the company (legal address). In addition, it is necessary to pay a mandatory state fee of 350 EUR.
Yes, this is a mandatory measure if you are interested in the company being a tax resident of Cyprus. Such evidence would include the filing of annual financial statements, the address of the company’s office in Cyprus, which holds all the company’s accounting records, the contracts concluded, the auditors’ report and other documents of the company, as well as the presence of a secretary with the Cyprus residence. All decisions and management of the company should be carried out in Cyprus.
Yes. After your company is registered, you can get detailed guidance on further work with the company (filing of reports, payment of fees, etc.), as well as consultation with our lawyer and accountant. If necessary, you can always contact our company on any legal or accounting issues.
The new company should have a unique name that reflects its activities. In Cyprus, it is possible to form a company name in any language, it is only necessary to take into account that you will have to use the Greek or Latin alphabet with a mandatory translation. It is not allowed to register names that repeat or resemble existing names. It is also forbidden to use the name if the firm being established contains a hint of a connection with patronage of royal families or illegal activities. Some words in the name of the Cyprus company imply compulsory licensing. This includes the names – «bank», «insurance», «trust», therefore the name of the company should accurately reflect its future sphere of activity. At the end of the name requires an end Limited. The abbreviation Ltd is allowed.
After submitting an application for registration of a company in Cyprus, the registrar checks the uniqueness of the name, whether there is no similarity in writing and sound with other Cypriot enterprises. In order to get approval more likely and in the shortest possible time, it is better to provide several variants of the company name for consideration. After checking the name of the company to be established, a reservation is made in the Register of Companies, after which an official reply is received on the possibility of its use.
The management of the Cyprus company is carried out by documented voting of the shareholders’ meeting, while the board of directors does not lose control over the company’s title documents. To protect against illegal and unauthorized actions, shareholders of the company can deposit Restrictions on the powers of the director. Shareholders’ meetings held abroad become an additional requirement. If the company is registered as a resident of Cyprus, assemblies are mandatory in the territory of Cyprus.