Company Formation in Cyprus
Cyprus, officially the Republic of Cyprus, is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean. It is located south of Turkey, west of Syria and Lebanon, northwest of Israel, north of Egypt, and southeast of Greece.
As a former British Colony, English is a second language spoken with 80% of the population being relatively fluent speakers. The legal system is structured on its English counterpart and is based on common law with many Cypriot Lawyers being trained in the UK.
The Republic of Cyprus is a free market economy providing vast opportunities for international business and efficient tax planning, the wide network of double tax treaties, first class legal and accounting services, ideal conditions to conduct business, investing and trading within European territory.
Cyprus Limited Companies are not considered as offshore companies as there is no offshore legislation in Cyprus.
Cyprus company formation allows entrepreneurs to conduct business internationally and within Cyprus with one of the lowest corporate tax rate in European Union – 12.5%, 19% VAT rate and 0% withholding tax on dividends repatriated to a non-resident shareholder individual or corporate.
Advantages of company incorporation in Cyprus:
Summary of Cyprus Limited Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Private Company limited by shares |
| Corporate Legislation | The Cyprus Bar Association is the governing authority and companies are regulated under the Cyprus Companies Law, Cap. 113. Legal system: Common Law |
| Taxation | Standard Corporation Tax – 12.5% Tax on Dividends for foreigners – 0% Standard VAT rate – 19% |
| Currency | Standard Currency EUR€ Commonly used currency of shares capital EUR€ |
| Paid up capital requirement | No paid up capital required |
| Time zone | GMT (UTC) +2 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No, but in order for the company to be tax resident in Cyprus – Yes (can provided by Consil Formation) |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Optional (can provided by Consil Formation) |
| Local Secretary required | No, but in order for the company to be tax resident in Cyprus - Yes |
| Registered office required | Yes |
| Share Capital | |
| Standard Currency | EUR€ |
| Standard Authorized Capital | 1000 EUR€ |
| Minimum paid up capital | No |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | Yes |
| Accounts public accessible | Yes |
| Requirement to file Annual Return | Yes |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Cyprus Limited Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.