Registration of a company in Cyprus

Name of service Bronze Silver Gold Platinum Brilliant
Company name verification and reservation in Department of Registrar of Companies Verifying the availability and reserving of your preferred company name in the registry
Company registration in form of LTD including government fees Preparation and submission of all required documents and fees to the relevant government authorities for company registration, ensuring a streamlined process for our clients
Certificate of Incorporation This document confirms the company's registration with the Department of Registrar of Companies and Official Receiver in Cyprus. It includes details such as the company name, registration number, date of incorporation, registered address, and legal form
Memorandum and Articles of Association The Memorandum and Articles of Association outline the company's constitution and internal regulations. They include details about the company's name, registered office address, objects and powers, share capital, shareholders' rights and obligations, management structure, and other important provisions
Register of Directors and Secretaries The Register of Directors and Secretaries records the company's directors and company secretary, including their names, addresses, dates of appointment, and any changes in positions
Local secretary services for one (1) year Provision of a local secretary for your company. This means we provide you with a local contact person who will ensure communication between you and the authorities, banks or other parties in Cyprus. The contact person can help you with translations, receiving and forwarding official documents, representing your company and general administrative support. This gives you confidence and convenience in communicating and interacting with government agencies and institutions
Company seal Production of the company seal
Assistance in opening a corporate bank account in the payment system Collection, processing and filing of the documents required for opening a corporate account with a payment system, including consultation of appropriate jurisdiction
Assistance with a VAT number obtainment Assistance in obtaining a VAT number for your company
Apostilled and Translated company documents Apostille certification and consular legalization of documents, depending on the country of operation
Assistance in opening a corporate bank account in Bank of Cyprus, Hellenic Bank Collection, processing and filing of the documents required for opening a corporate account in a traditional bank
Local director for one (1) year for corporate bank opening Provision of Cyprus resident director to sign company contracts and keep confidentiality of the founder
Free consultation We offer a free consultation where you can discuss your needs and questions regarding company registration and management. Our experts will be happy to help you understand the process and provide guidance based on your situation. We are happy to answer your questions and help you make an informed decision about the services you need
Total cost
1000 EUR 2000 EUR 2500 EUR 4500 EUR 15200 EUR
Provision of a legal address for 1 (one) year
550 EUR 550 EUR 550 EUR 550 EUR 550 EUR
Remote company registration with transfer of authority
300 EUR 300 EUR 300 EUR 300 EUR 300 EUR
Accounting services
175 EUR 175 EUR 175 EUR 175 EUR 175 EUR

Deal of the month

If you will register a company until 31 January,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

The Republic of Cyprus is a small Mediterranean country. It is known for its developed tourism sector and loyal foreign investment policy, which allows us to judge the country as a tax haven. Offshore Cyprus has a favorable tax environment and stable legislation. Nevertheless, the Republic does not have the disadvantages typical for tax havens. The legal norms of creation and functioning of companies fully comply with the European ones, and reputational risks are excluded due to the inclusion in the allowlist of the OECD. Registering a company in Nicosia or any other city in Cyprus is also beneficial due to access to the EU market, which promotes international trade.

Advantages of registering a company in Cyprus

  • well-developed infrastructure;
  • absence of restrictions on the choice of the sphere of activity of foreign companies;
  • the possibility of creating a company in Cyprus with one founder;
  • freedom of currency operations and capital repatriation;
  • availability of double taxation avoidance agreements with more than 60 countries;
  • the opportunity to obtain a long-term visa for two years and in the future to apply for citizenship.

Main forms of legal presence and doing business in Cyprus

  • Private limited company (LLC);
  • Public limited company (PLC);
  • European company (Societas Europaea);
  • Partnership;
  • Subsidiary;
  • Affiliate.

The most popular business structure used in Cyprus is the Limited Liability Company (LLC). Such organizations can have up to 50 members of any nationality and residency. Registration of companies in Cyprus in the legal form of LLC requires a legal address in the country, a secretary, and at least one director, who can be both a secretary and a shareholder. In addition, the law restricts the right not to transfer LLC shares to third parties. This allows you to benefit from favorable taxation in the country and receive a tax deduction for the tax paid abroad.

Registration procedure in Cyprus

  • choose a name and get approval for its use from the Registrar;
  • register the company in Cyprus with the State Registry of Companies and obtain a certificate;
  • to submit the details of the new company to the tax authorities and to receive the TIN;
  • to open a bank account;
  • register with the Social Security Service of Cyprus;
  • obtain business licenses and permits (if required);

Cyprus Legislation and Regulatory Environment

The legal system of Cyprus is based on the principles of English common law. After the country acceded to the European Union, the legislation adapted to the European norms. The Companies Law outlines the basic requirements for company registration in Cyprus, management, and corporate reporting.

The Industrial Property Office regulates intellectual property. It is responsible for the maintenance of registers and takes administrative decisions leading to the registration of intellectual property rights. The Office, the district courts, and the Supreme Court resolve disputes in the first instance.

Regulated business activities in Cyprus include auditing, law practice, gambling, finance, and investment business. Therefore, you must obtain the appropriate permissions to engage in these companies.

Once a company is established in Cyprus, its founders must hold an annual general meeting and file financial statements.

Cyprus tax system

Cyprus is an offshore zone, which does not exempt entrepreneurs from paying taxes, but provides an exhaustive list of preferences. The level of taxation here is one of the lowest among the EU countries. The central tax rates:

  • corporate tax - 12.5%;
  • capital gains tax - 20%;
  • VAT - 5% to 19% (0% on export transactions and financial services);
  • PIT - 35%.

Dividends or interest paid to a non-resident is not subject to withholding tax in Cyprus. However, residents must also make a Special Contribution to the Defense of the Republic (SDC) of 3% or 17% (for dividends received from non-resident companies). SDC is imposed only on non-taxable income through dividends, "passive" interest, and rental income.

Cyprus law applies the criterion of management and control to determine tax residency. An organization will be considered a tax resident if the company's business decisions are made in the state's territory, and the majority of the board of directors are residents. A company in Cyprus is taxed on its worldwide income.

Opening a company in Cyprus also allows you to take advantage of the tax deduction (NID). Its value can be up to 80% of taxable income from raising capital.

Opening a business in Cyprus: how Aotopay lawyers can assist

Cyprus offshore is one of the best ways of tax optimization. Investors who decide to open a business on the island are protected by European legislation, get access to the developed EU market, and optimize tax liabilities. Opening a company in Cyprus seems simple. However, ignorance of the local law or failure to comply with its requirements may lead to adverse consequences.

Aotopay lawyers will support to set up a business following the client's priorities. Our specialists will consult on organizational-legal forms of companies and prepare documents under current legislative requirements. Aotopay lawyers can perform the procedure with maximum comfort for the client. In addition, we provide services of annual maintenance and accounting.

Cooperation

Our clients

© 2023, Aotopay