Cyprus Company Formation and Bank Accounts
Worldwide Incorporation Services specializes in Cyprus company registration and opening bank accounts.
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.
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.
Exchange Control
None.
Time required for Cyprus Company Formation
Two weeks, subject to name approval.
Cyprus Company Registration – 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”.
Questions? Need Advice?
Make an enquiry or chat with us.
MAKE AN ENQUIRYCyprus Company Registration Prices
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Cyprus Company Formation Package Includes:
- Company Name Check
- Initial Business Approval
- Preparation of Application Documents
- Registration of a standard company with a maximum share capital of €1.000 inclusive of legal fees and stamp duties
- Transfer of subscribers’ shares
- Allotment of new shares appointment of directors
- Arranging of the registered office
- Filing statutory returns and issue of share certificates
- Nominee Director (Cyprus Resident)
- Secretarial Services for 1 year
- Register of shareholders
- Register of directors
Starting at: €1790
MAKE AN ENQUIRYCyprus Ready-Made Companies
We have a number of Cyprus ready-made companies available as of today.
CYPRUS READY-MADE COMPANIES LIST
Why Choose Worldwide Incorporation Services?
People Also Ask
How much does it cost to register a company in Cyprus?
Cyprus company registration costs starting at 1790 EUR (incl. Nominee Director).
How do I register a company in Cyprus?
The formation of the company must be finalised before registering a company. Afterwards, an application must be submitted to the Cyprus registrar.
Is Cyprus Offshore?
Cyprus is not offshore. Cyprus is not a tax haven, so it’s not considered to be an offshore jurisdiction.
How much tax do you pay in Cyprus?
There’s a corporate tax that a company would need to pay in Cyprus. Since it’s not a tax haven, this low and favourable tax is required and must be paid.
Cyprus Company Formation – Office Addresses
Interested in Cyprus Company Formation?
Services related Cyprus Company Formation
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