Company registration in Cyprus

CYPRUS COMPANY REGISTRATION

Although Cyprus is no longer the offshore tax haven that it used to be before it became a member of the EU, it remains a dream destination for many foreign investors. An efficient and sophisticated business environment, coupled with company income tax of just 10%, help to explain the pull.

Companies registered in Cyprus are commonly used as:
Trading companies - a company in Cyprus may be registered for international trading purposes and pay the lowest taxation in Europe (10%) on their net profits. In addition, there are no withholding taxes on payment of dividends to non-resident shareholders.

If Cyprus company management and control is overseas (non-resident Directors) then the Cyprus company may elect to not be taxable in Cyprus. This type of company is useful for trade purposes. It cannot benefit from any Double Tax Treaties and cannot obtain any Tax Certificates stating that it is resident/taxable in Cyprus.

Holding companies – provided that minimum requirements are satisfied, a company can be registered in Cyprus with 0% tax rate on dividends received by overseas subsidiaries.

REQUIREMENTS FOR COMPANY REGISTRATION IN CYPRUS

• No minimum share capital requirement. It is customary to have €1,000 issued companies share capital
• A minimum of one shareholder is required for company registration in Cyprus. Foreign corporate or individual shareholder is permitted
• For company registered in Cyprus a minimum of one director and one secretary is required. Cyprus company director’s information is available on public record
• Annual audited financial statements and annual return of Cyprus company must be submitted to the Registrar of Companies in both English and Greek
• Although Cyprus company shareholder information is part of the public record, beneficial ownership information is not disclosed to any regulatory authority

CYPRUS COMPANY REGISTRATION FEES

TIMESCALES FOR COMPANY REGISTRATION IN CYPRUS

• We maintain ready made shelf companies and pre-approved Cyprus company names. If you purchase our company in Cyprus with existing nominee director / shareholder, time frame is 3 – 5 working days. With a shelf company in Cyprus the time frame to register changes in director / shareholder + apostilled documents is approximately four weeks. The same time frame applies for a pre-approved Cyprus company name.
• If a company in Cyprus will be incorporated with a name that requires prior approval from the Cyprus Company Registrar the incorporation process will take approximately 4 – 6 weeks.
• 2 - 5 working days to obtain company's VAT registration. VAT registration for company in Cyprus becomes valid only at the end of the month in which you have submitted your registration.

ACCOUNTING SERVICES FOR COMPANIES REGISTERED IN CYPRUS

If the company registered in Cyprus had no activity for the fiscal year, dormant accounts are included in the fixed annual company maintenance fee € 2350. For those Cyprus companies with minimal activity, basic audited annual financial statement preparation and submission fee starts at € 1100 per year based upon approximate number of monthly invoices and projected annual turnover of Cyprus company. Fees for larger companies registered in Cyprus and companies with VAT numbers registered in Cyprus vary. Please contact us for more details.

VIRTUAL OFFICE FOR COMPANY REGISTERED IN CYPRUS

Cyprus company office at central location in Nicosia with telephone, fax and mail forwarding facilities: $200 per month payable quarterly in advance, $600 deposit refundable within 30 days upon written termination of company office contract.
Serviced office for Cyprus company: cost as per requirement. Please contact us for office service fees.

HOW TO REGISTER A COMPANY IN CYPRUS?

To register a Cyprus company, we will require the following:

• 100% prepayment of the Cyprus company formation cost
• A completed Cyprus company registration application form
• A copy of each Cyprus company director/shareholder’s passport
• A utility bill copy that is less than three months old

Please send your documentation for company registration in Cyprus to:

SIA IBC Konsultants
Antonijas St. 22-4, LV-1010

Riga, Latvia
Fax: +371 67333957
Email: info@eurocompanyregistration.com
Skype: Contact_IBC

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