THE MAIN CHARACTERISTICS OF CYPRUS COMPANY

General

Type of entity Private Company Limited by Shares
Type of law Common
Shelf company availability Yes
Our time to establish a new company 5 days
Corporate Taxation 12,5% in case of local activity, 0% in case of activity outside the island
Double taxation treaty access Yes

Share Capital or Equivalent

Standard currency EUR
Permitted currencies Any
Minimum paid up EUR 1
Usual authorised EUR 1,000

Directors or Managers

Minimum number One
Local required No, but advisable for purposes of tax residency
Location of meetings Anywhere, but Cyprus advisable for purposes of tax residency
Publicly accessible records No

Members

Minimum number One
Publicly accessible records Yes
Location of meetings Anywhere

Company Secretary

Required Yes
Local or qualified Yes

Accounts

Requirement to prepare Yes
Audit requirements Yes
Local Auditor Yes
Requirement to file accounts Yes
Publicly accessible accounts No

Other

Requirement to file annual return Yes
Change in domicile permitted No
*When wholly foreign-owned, a private company is referred to as an International Business Company.

Presentation of jurisdiction

Located in the north-eastern end of the Mediterranean Sea, Cyprus is a crossroads link between Europe, Asia and Africa. The main economic activities of Cyprus are vastly influenced by its geographical situation. Cyprus’ strategic situation has boosted its financial and banking industries, as well as shipping. During the last fifteen years, the economy of Cyprus has shown impressive growth.

Companies moving to Cyprus will benefit from:

  • A Government which understands it’s a role as a regulator, planner and provider of public utilities;
  • One of the lowest corporate tax rate in Western Europe;
  • Fund management trust;
  • Eligibility several tax exemptions.

Still the question our customers ask us more frequently is:

Who should choose Cyprus Company and what activities benefit the most?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers;
  • Holding companies.

Which activities?

  • International trade;
  • Inheritance tax purposes;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF CYPRUS

Advantages of a company in Cyprus:

  • Well-known professional infrastructure;
  • Company Law based on UK Common Low.
  • Well-established network of double Taxation Treaties available for all Cyprus Companies which are managed and controlled from Cyprus.
  • Strategically important location for trading with countries in Europe, Asia and Africa.
  • Optimal jurisdiction for the establishment of holding companies.

Disadvantages of a company in Cyprus:

  • Documentation submitted to the Companies Registry must be in Greek.

How to proceed

To incorporate or purchase a company the following documentation should be provided:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.