Cyprus Company Formation

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Jurisdictions >> Cyprus Company >> Cyprus Company Formation

Cyprus Company. Cyprus Company Registration

Worldwide Incorporation Services specializes in Cyprus company registration and opening bank accounts.

Cyprus – General Information

Cyprus Company

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.).
Capital: Nicosia.
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.
Currency: Euro.

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.
  • 0% Taxation for NON 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.

Cyprus Company

Type of Company for International Trade, Investment & Tax Planning

Cyprus Private Limited Company.

Share Capital

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.

Bearer Shares

Not permitted.

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.

Secretary

Each Cypriot company must have a Secretary in Cyprus.

Directors
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.

Shareholders

A Cyprus company requires a minimum of one shareholder.

Publicly Accessible Records

Yes.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere, but Cyprus advisable for purposes of tax residency.

Personal Presence Required

No.

Taxation

The corporate tax rate is 12.5%.

VAT

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

Yes.

Audit Requirements

Yes.

Currency

Euro.

Exchange Control

None.

Time required for Cyprus Company Formation

Two weeks, subject to name approval.

Cyprus Company Formation – Name of a Company

Language of Name

English.

Restricted Words

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”.


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Cyprus Company Formation – Packages


Packages

COMPARE PACKAGE FEATURES

Corporate Consultancy

Name Check

Initial Approval

Preparation of Application Documents

Drafting of M&A in Greek and English

Company Registration

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

Share Certificate

Consent to Act as Director

Consent to Act as Secretary

Company Stamp

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)

Nominee Agreements

Nominee Shareholder

Declaration of Trust


SILVER

EUR 750

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-

-

-

-

GOLD

EUR1950

PLATINUM

EUR 2250


 
* 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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Why Choose Worldwide Incorporation Services?
  • We’ve been helping business owners since 1998
  • Incorporating your business is our focus
  • We make a complex process fast and easy
  • We work closely with Cyprus Companies Registry to guarantee our service

Ready-Made Cyprus Companies

This is a list of ready-made and approved company names available as of today.

FERONICA LTD Approved View Packages
VEDONTA LTD Approved View Packages
VEDONICA LTD 29.05.2018 View Packages
ZERONA LTD 16.04.2018 View Packages
HARVESTICA LTD 20.01.2017 View Packages
PREDERICA ENTERPRISES LTD 07.04.2016 View Packages
FIRST EUROSTAR TRADING LTD 26.01.2016 View Packages

How To Buy a Shelf Company in Cyprus
To buy a shelf company in Cyprus please contact one of our offices or submit an online enquiry.

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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

 

Free Initial Consultation
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How to proceed
To start your business in Cyprus please contact one of our offices or submit an online enquiry.

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Why Our Company is the Best Choice for Cyprus Company Formation and Administration?
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