Register your Cyprus company in the same day!
- Deliver your Cyprus Company within the same day
- Open a same day bank account with e-banking & credit card
- Secure you tax optimisation
- Offer value for money services with no hidden costs
- Prompt, professional and individual service at all times
- Full confidentiality
Parameters to Consider
- Uniform corporate tax rate of 12.5%
- No inheritance tax
- No capital gains tax, except on immovable property in Cyprus
- No tax on disposal of securities
- No tax on any profits from a PE situated outside Cyprus
- No taxes to be paid on liquidation
- No taxes on dividends received (subject to conditions)
- No withholding tax on payments to non-residents (dividends, interest, royalties)
- No capital taxes or net worth taxes
- No Control Foreign Companies (CFC) rules
- No thin capitalisation rules
- Unilateral tax relief provisions
- Tax losses carried forward (no time limit)
- Favourable shipping tax provisions
- Tax ruling practice
After Cyprus’ accession in the EU in 2004, it has managed to rapidly develop into one of the most prominent financial centres in Europe. It is a known fact that Cyprus has one of the lowest corporate tax rates in the EU at 12.5 %, with a close to perfect tax exemption system for holding company income and double tax treaties in place with around 45 countries in total. Cyprus does not levy any withholding tax over outbound dividends or interest. There is normally no withholding tax over royalties either. Cyprus is a politically and economically stable country where English, being one of the country’s official national languages, is widely spoken.
Below is a summary of information on Cyprus Companies:
- Language: Greek
- Currency: Euro
- Type of law: Common law
- Type of company: (LLC) Limited Liability Company
- Principal Corporate Legislation: The companies Law Chapt.113 and The Income Tax laws of 2002. The Special Contribution for Strengthening the defence of the Republic laws
- Uses: Holding, servicing, financing, licensing and (other) trading , portfolio investment and investment fund activities , subject to possible restrictions as below
- Trading Restrictions: Certain activities cannot be undertaken unless a license has been obtained. Including banking, insurance and other financial services
- Company Name: Previous approval required. Application rejected if the name is the same or very similar to existing company name.
- Language of legislation and corporate documents: Greek
- Taxation: The LLC is subject to income tax over its worldwide income from sources specified within the Income Tax laws of 2002
- Double Tax Treaty Network: Party to double tax treaties with around 45 countries (as per end 2010)
- Annual license fee: 350 euro
- Registered Agent/Office: Must maintain a registered office address in Cyprus
- Shareholders: Minimum Number: One
- Publicly accessible records: Yes
- Disclosure of Beneficial Owner: Not publicly available
- Directors: Minimum: One
- Nationality: No restriction
- Publicly accessible records: Yes
- Location of meetings: Anywhere, from tax point of view usually advisable to be in Cyprus
- Annual Reporting: Must file Annual Return and Annual Accounts. Filing of audited accounts is required for income tax purposes.
- Secretary: Local (not a legislative requirement but quite necessary)
- Share capital: No minimum required
Those who are non-Cypriots (natural persons or other entities) do not require any permit to hold shares in a Cyprus Company. Step one for setting up a Cyprus Company is to apply to the Registrar of Companies for approval of the Company’s name. To make things easier for our clients, we always have an available list of already approved names. Step two, an application is made to the Registrar of Companies to register the company in accordance with Cyprus Law.
The below requirements must be in place:
- The name of the Company.
- The names, addresses and nationalities of the directors, company secretary and shareholders, together with copies of their passports (main pages only).
- The company’s main activity. Our standard Memorandum of Association of a company contains objects that cover almost all possible activities.
- Reference letter for each shareholder. We require a reference letter from a bank, or professional lawyer or accountant.
- The number of Shares held by each shareholder.
- The amount of Authorised and Issued Share Capital.
Note: Shelf Companies are always available for immediate use.
- There is no minimum number of Directors.
- The registered office must be in Cyprus- clients can use our address
- Local auditors must be appointed.
- There is no minimum number of shareholders for a private company.
- Nominee shareholders can be appointed. Complete confidentiality is ensured by the use of nominees.
- Certified Memorandum & Articles of Association in the Greek language, together with an English copy as translated by our legal team
- Certificates of incorporation, shareholders, directors & secretary and registered office, in Greek or English.
- Share Certificates in Greek or English.
- A company stamp.
- Undated, signed share transfer documents and undated signed resignation letter by nominee shareholder and directors (respectively if nominees are opted).
- Indemnity Letters, whereby the beneficial owners indemnify the nominees for their actions.
- Declaration of Trust (when appropriate).