CYPRUS COMPANY REGISTRATION

Cyprus company registration enables you to access the European Union jurisdiction with highly reputable company and the lowest tax rates in Europe.

Cyprus has long been a recognized jurisdiction for not only European based business, but also for international business.

Under this page you will be able to explore the main facts and requirements for company registration in Cyprus.

You are also invited to read our ultimate Cyprus tax guide.

Cyprus Background:

Republic of Cyprus is a country situated in the eastern part of Mediterranean sea, and has been officially the part of the European Union since 2004.

Cyprus is famous for its flexible company formation possibilities, great banking solutions and highly skilled work force. Overall, Cyprus has been considered to be on of the most reputable jurisdiction for international business worldwide.

A company in Cyprus is a gateway for successful business in the European Union markets and beyond. Company in Cyprus is great for all kinds of businesses – ecommerce, import/export, financial services & banking.

Cyprus is famous for its’ great shipping industry and highly dynamic business atmosphere for shipping companies, which can benefit from Cyprus tonnage tax regime. Cyprus is also friendly towards blockchain and cryptocurrency businesses.

Capital city: Nicosia

Population: 1,189,265

Local currency: Euro (EUR)

Official language: Greek

Business language: English and Greek

Corporate tax rate: 12.5%

VAT rate: 19%

 

Description of Cyprus Limited Liability Company (LLC):

  • Great for international businesses.
  • No corporate tax.
  • As long as LLC is considered foreign owned, there will not be CIT imposed (e.g. on your income outside Cyprus if you work with foreign clients, your income in Cyprus would be taxed accordingly).
  • If you are a foreigner from countries that tax global income – you must declare all income to their tax authorities.
  • Limited liability. The members of LLC liability is limited to their contributions, the shareholders are not liable for the company’s activities beyond the share capital.
  • Fast registration.
  • No local presence requirements.

Why start a business in Cyprus?

  • Tax rules

Simply because of the business-friendly Cyprus tax regime, Cyprus is undoubtedly the finest place to do business in the EU. Cyprus has one of Europe’s most competitive corporate tax rates – 12.5%, which is one of the lowest in EU. Cyprus has signed 63 double taxation agreements with other countries, that will allow to manage taxes and dividend payouts. For detailed information on tax in Cyprus and company management options we invite you to read our Ultimate Guide to Tax in Cyprus.

  • Simple company registration in Cyprus

Currently, the registration of Cyprus company may take from 1-7 business days. Company registration in Cyprus is very simple and offers a possibility to open a bank account in Cyprus national EU banks, banks of other EU countries and EU payment institutions. The company’s share capital does not have to be paid in full at the time of incorporation. You have the option to pay it back later.

  • Regulatory requirements

Cyprus is not considered an offshore. This means that company registered in Cyprus will have to comply with all local and EU regulatory standards, at the same time Cyprus offers great confidentiality with regard to doing business there. All tax returns, reports and audits shall be submitted annually, even in the absence of dynamic activity of the company. Thus Cyprus company is an EU company, and as such is acceptable by all countries and serious companies all over the world.

  • Great business environment

According to the latest World Bank annual evaluations, Cyprus is placed 54th out of 190 world economies in terms of ease of doing business, it is also considered one of the best countries in EU for business. Cyprus, even though a small island offers a diverse range of business opportunities for entrepreneurs and investors in finance, real estate, crypto currency businesses, trade and maritime environment. 

Tax system in Cyprus

  1. Corporate income tax: The standard CIT rate in Cyprus is 12.5%. Any company considered tax resident of Cyprus is subject to taxation on all income earned or generated in Cyprus and abroad.A non-Cyprus tax resident company is taxed on revenue accrued or generated through economic activity carried out via a PE in Cyprus, as well as certain other income deriving from sources in Cyprus.
  2. VAT: Value added tax in Cyprus is 19%.
  3. Withholding taxes: Generally, there is no withholding tax on any outbound dividends, profit distributions, or interest.

HOW THE ORDER SYSTEM WORKS?

1. Choose the most suitable company package and make online order

 

Choose the most suitable company formation package from STORE EU LAW FIRM, and place an online order with the available payment methods. After successful order you will receive an email confirmation with your order details.

2. Collection of documents and KYC verification

 

After successful order and receipt of payment, our customer support will get in touch with you to acquire the required documentation for company formation in Cyprus.

3. Company formation in Cyprus

 

The company formation in Cyprus takes between 5-14 business days after all required documents have been received.

After company has been incorporated, physical company formation documents with apostilles will be sent to your mailing address.

DOCUMENTS REQUIRED FOR CYPRUS COMPANY REGISTRATION

For individuals:

  • Passport copy of all shareholders;
  • Passport copy of all directors;
  • Copy of a recent utility bill not older than three (3) months.

If shareholder is a legal person:

  • Copy of company extract (visible shareholders, directors, beneficial owners).

DOCUMENTS REQUIRED FOR COMPANY IN CYPRUS BANK ACCOUNT

  • Passport copy of all directors and shareholders.
  • Utillity bill not older than 3 months.
  • CV of the company management.
  • Business plan.

Banks may request additional documentation from case to case.

Note: All documents in a foreign language must be translated into English and certified by a qualified translator.

Interested in company registration in Cyprus?

Just get in touch with us to get more information about company registration in Cyprus and getting local legal partner for your company in Cyprus. We typically respond in 2 hours.