Cyprus Company. Cyprus Company Registration
Worldwide Incorporation Services specializes in Cyprus company registration and opening bank accounts.
Cyprus Ready-Made Companies
This is a list of Cyprus ready-made companies available as of today.
Cyprus – General Information
Location: Middle East, island in the Mediterranean Sea, south of Turkey; note – Cyprus views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both.
Area: total: total: 9,251 sq km (of which 3,355 sq km are in north Cyprus), land: 9,241 sq km, water: 10 sq km.
Natural resources: Copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment.
Population: 1,221,549 (July 2017 est.).
Time Zone: UTC+2.
Languages: Greek, English.
Government type: Presidential democracy.
Legal system: Mixed legal system of English common law and civil law with European law supremacy.
International organization participation: Australia Group, C, CD, CE, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, NSG, OAS (observer), OIF, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO.
Economy: Tourism, finance, shipping, and real estate have traditionally been the most important services. Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008.
In October 2013, a US-Israeli consortium completed preliminary appraisals of hydrocarbon deposits in Cyprus’ exclusive economic zone (EEZ), which estimated gross mean reserves of about 130 billion cubic meters. Though exploration continues in Cyprus’ EEZ, no additional commercially exploitable reserves have been identified. Developing offshore hydrocarbon resources remains a critical component of the government’s economic recovery efforts, but development has been delayed as a result of regional developments and disagreements about exploitation methods.
Cyprus Company Formation – Overview
Advantages of Cyprus Company Formation
- European jurisdiction
- Advantageous vehicle for International Tax Planning and use
- 0% tax on Dividends received (Dividends received by a Cypriot Company, on certain conditions, are free of tax making Cyprus the most competitive jurisdiction for holding companies)
- 0% withholding tax on Dividend payments (Dividends payable by a Cypriot resident company to its foreign shareholders (whether a company or individual) are not subject to any withholding tax in Cyprus)
- Full tax exception on the payment of dividends to its non-resident shareholders and has a real advantage over the other traditional holding jurisdictions
- No capital gains tax is paid on the transfer of immovable property owned by a Cypriot Company abroad (outside Cyprus)
- 12, 5% Taxation for tax resident companies.
- Double Tax Treaties (Cyprus has signed a considerable number of Double Taxation Treaties with various countries, to avoid the double taxation of income earned in any of the two contracting states)
- A minimum of one director is required for a Cyprus company formation. Director can be of any nationality and need not be resident, but Cypriot advisable for purposes of tax residency corporate directors are permitted
- A minimum of one shareholder is required for a Cyprus company formation
- Nominee Shareholders and Nominee Directors Allowed
Cyprus Company Formation. Legislation
Principal Corporate Legislation
Companies Law, Cap 113, as amended.
Type of Law
Civil with many English Common Law influences.
Language of Legislation and Corporate Documents
English and Greek.
Type of Company for International Trade, Investment & Tax Planning
Cyprus Private Limited Company.
Standard authorised share capital is EUR 1,000. Minimum paid up share capital is EUR 1.
Classes of Share Available
Registered shares, preference shares, redeemable shares and shares with or without voting rights.
Restrictions on Trading
Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
Registered Office Required
Each Cypriot company must have a Registered Office in Cyprus.
Each Cypriot company must have a Secretary in Cyprus.
A Cyprus company requires a minimum of one director. Director can be of any nationality and need not be resident, but Cypriot advisable for purposes of tax residency Corporate directors are permitted.
A Cyprus company requires a minimum of one shareholder.
Publicly Accessible Records
Nominee Shareholders and Nominee Directors
Location of Meetings of Directors and Shareholders
Anywhere, but Cyprus advisable for purposes of tax residency.
Personal Presence Required
The corporate tax rate is 12.5%.
A Cypriot company trading from Cyprus may be registered for VAT purposes and the VAT prefix will be ‘CY’.
Double Taxation Treaty Access
Azerbaijan, Armenia, Austria, Bulgaria, Belarus, Belgium, Canada, China, Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kuwait, Kyrgyzstan, Malta, Mauritius, Moldova, Norway, Poland, Romania, Russia, Singapore, Slovakia, Slovenia, South Africa, Sweden, Syria, Thailand, Ukraine, United Kingdom, USA, Uzbekistan.
Requirements to File Accounts
Time required for Cyprus Company Formation
Two weeks, subject to name approval.
Cyprus Company Formation – Name of a Company
Language of Name
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.
Name of a Cyprus Company
The name of each Cyprus company must end with the word “Limited” or “Ltd”.
Cyprus Company Formation – Packages
COMPARE PACKAGE FEATURES
Preparation of Application Documents
Drafting of M&A in Greek and English
Incorporation Service Fee
Registered Office Address for 1 Year
Registered Agent’s Service Fee for 1 Year
Certificate of Incorporation in Greek
Certificate of Incorporation in English
Certificate of Registered Address
Certificate of Director & Secretary
Certificate of Shareholders
First Resolutions of the Shareholders
Register of Directors & Officers
Registers of Shareholders
Consent to Act as Director
Consent to Act as Secretary
Memorandum of Association
Daily Update Regarding The Full Process
Certificate of Incorporation in English with Apostille, Certificate of Registered address with Apostille, Certificate of Director & Secretary with Apostille, Certificate of Shareholders with Apostille, M&A in Greek and translation into English with Apostille
Local Nominee Director (Cypriot Resident)
Declaration of Trust
* Annual Levy EUR 350 is not included (payable to the Registrar of Companies every year). Tax Identification Code (TIC) registration EUR 175 is not included.
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Cyprus Company Formation – Office Addresses
Services related Cyprus Company Formation | Cyprus Offshore Company
Worldwide Incorporation Services provides the following services related Cyprus Company Registration:
- Cyprus Company Formation
- Registered Office Services
- Secretarial Services
- Nominee Shareholder / Nominee Director
- Opening of Bank Accounts
- Full Cyprus Company Administration Services
- Mailing Address
- Virtual Office
- Bookkeeping & Audit
- VAT Registration
- EORI Registration
- Trademark Registration
- Family Office
Worldwide Incorporation Services | Cyprus Offshore Company | Cyprus Company Formation
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