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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, but exemption for small companies
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:

INTEREST OF THE JURISDICTION

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.

Possible 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:

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

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:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening