9 AM - 6 PM HKT / 03.00 - 12.00 CET
UK: +44 20 3239 1425
HK: +852 8170 1463

CYPRUS

CYPRUS COMPANIES

Cyprus Companies are suitable for:

  • Businessmen
  • E-commerce
  • Consultants / Counsellors
  • International business
  • EU holding company
  • Holding intellectual property rights
  • Custody vehicle of movable and immovable property
  • Estate planning
  • Wealth management

Cyprus Companies quick facts:

Company type Private Limited by shares
Governing corporate legislation The Cyprus Bar Association is the governing authority and companies are regulated under the Cyprus Companies Law, Cap.113.
Information relating to company officers Upon registration, names of companies officers will appear in the public registry. Nominee directors are used on a regular basis to protect our clients' identities.
Confidentiality Cyprus offers a high level of anonymity and privacy.
Accounting requirement Yes
Taxation Lowest taxation in Europe (12.5%)
Currency Euro
Timeframe Cyprus has an efficient Registry : 10 days formation time
Stability Stable jurisdiction with very good reputation
Time Zone GMT+2
Secretary required Yes
Paid up capital requirement 1000 Euros
Basis of legal System Common Law
Minimum shareholders / directors Minimum of 1 Director and 1 Shareholder (Corporate shareholders and directors allowed.)
Fees
  Fee (USD/EUR) Renewal Fee (USD/EUR)

Cyprus Company, basic company formation incl. registered office, first year's government fees, agent fees.

2,995.00
2,536.85

1,945.00
1,647.47

Shelf company

395.00
334.58

-

Nominee director & nominee shareholder

1,295.00
1,096.90

1,295.00
1,096.90

Set of certified copies of company documents (by notary public with apostille)

395.00
334.58

-

Bank account opening per correspondence in Cyprus. Multi-currency account, corporate credit cards, anonymous debit card and internet banking. Min. deposit 1000 EUR.

995.00
842.79

-

Bank account opening through correspondence with a well established bank in the Caribbean. Accounts in all major currencies, no name debit cards in USD/EUR/GBP, payroll cards, corporate credit cards and Internet banking. The bank also offers investments in Gold/Silver, Stocks, Forex, Futures. Min. deposit 500 USD.

995.00
842.79

-

Bank account opening through correspondence with a well established bank in Belize. Accounts in all major currencies, corporate credit cards, no name debit cards and internet banking. Min. deposit 5000 USD.

995.00
842.79

-

Bank account opening through correspondence with a well established bank in Latvia. Accounts in different currencies, credit card in corporate name only and internet banking. Min. deposit 500 EUR.

995.00
842.79

-

Bank Account opening per correspondence in Switzerland. The bank has multicurrency accounts, credit cards, anonymous debit cards, internet banking, stock trading, forex trading etc. Bank account can be opened through correspondence. Min. deposit 10000 USD/CHF/EUR.

995.00
842.79

-

Courier Delivery MANDATORY

110.00
93.17

-

Required documents: Notarized passport copy, utility bill in original, bank reference letter or other professional reference letter. None of the documentation can be older than 3 months.

CAUTION: Many others list low fees that do not include what is necessary, our fees are Complete.

About CYPRUS

Location

Cyprus is located in the eastern Mediterranean, surrounded by three continents – Europe, Asia and Africa. It has a nice Mediterranean climate with dry, hot summers and mild winters.

Population

The population is about 770 000. Cypriots represent 78%, Turkish – Cypriots 18% and the remaining 4% represent other minorities.

Languages

The official languages are English, Greek and Turkish. English is almost spoken by all of the population and is frequently used in commercial and government sectors.

Political Structure

Cyprus has been an independent republic since 1960. The government structure is similar to other western countries, where free speech, political freedom, human rights and private property are safeguarded.

Cyprus has a presidential system where the President is the Head of State. He is elected for a five-year term. The executive power is in the hands of the Council of Ministers. The President has appointed the members of the council. The legislative body of Cyprus is the House of Representatives, which consists of 56 elected members who serve for five-year term. The legal system is based on English Law. Cyprus is a member of the Commonwealth, UN and the Council of Europe.

Membership in the European Union

On 1st May 2004, Cyprus became a full member of the European Union. The membership is expected to improve the stability and security in Cyprus.

Economy and Infrastructure

Cyprus has first-class telecommunications, air and port connections. There are two international airports, one in Larnaca and one in Paphos, but the major ports are located in Limassol and Larnaca.

Cyprus has a free-enterprise economy, where the government’s role is limited to supervision, regulation, planning and provision of public utilities.

The banking facilities available are excellent with a number of onshore banks, offshore banking units (OBU’s) and other licensed financial institutions operating on the island.

ABOUT CYPRUS COMPANIES

Main Key Features & Advantages

Today, Cyprus has the lowest tax regime in Europe and its role as an international financial and business centre is growing day by day. There is no longer a difference in the tax treatment of local companies or International Business Companies, since a single corporation tax is applicable for all companies.

The main tax and fiscal incentives may be outlines as follows:

  • International Business Companies pay a tax of 12.5% on its net profits if it is a Cyprus resident. A resident IBC is a company with management and control in Cyprus. In order to determine the management and control of the company, look at the residence of the majority of directors and where board meetings normally take place. Resident IBCs may obtain full access to Cyprus double-tax treaty network.
  • Cyprus has no withholding tax on payment of dividends, interest and royalties by an IBC to non-resident individuals or companies.
  • Dividend income received by a Cypriot IBC is 100% exempt from tax in Cyprus (under certain conditions).
  • Profits earned from branches/daughter companies abroad are 100% exempt from corporation tax. Profits from the sell of shares are not taxable for all Cyprus tax residents.
  • 50% of interest bearing investments received is exempted from tax. The interest that arises in the ordinary course of business (e.g. interest on overdue debtor balances) is not exempted from tax.
  • There is no restriction how many years you can carry-forward tax losses. You can bring them forward indefinitely to be set off against possible future profits.
  • Group relief is available whereby losses from a company can be set off against taxable profits accumulated by another company in the same group.
  • There are no tax implications on reorganizations, amalgamations, mergers and acquisitions of companies.
  • Exemption from capital gains tax (except on sale of real-estate in Cyprus).
  • No exchange control restrictions - an IBC can open a bank account in any currency in any country.
  • Cyprus has 32 Double Tax Treaty agreements, which apply to 40 countries. They can be used to minimize tax.
  • Confidentiality and anonymity of beneficial owners is safeguarded (true identity is only disclosed to local banks, if a local account is opened and information is not disclosed to any third party or to other countries, except in the case of properly authorized criminal investigation (drugs, terrorism, e.t.c.).

Other advantages of more general nature that Cyprus can offer

  • Geographical location (in the middle of three continents)
  • Excellent infrastructure
  • First-class banking facilities
  • A stable, western-type economy
  • Legal system based on English Law
  • Readily available and highly educated local staff
  • Low cost of living in comparison with most Western European countries
  • Low crime level
  • Excellent schools incl. universities.
  • Excellent climate