Cyprus Company Formation
The information below displays the requirements to register a Cyprus company (Cyprus Limited Liability Company). We provide details on the maintenance, shareholder requirements, the minimum capital requirements for Cyprus company formation, along with the legal form, naming requirements, documentation required and director and secretary requirements.
The information below is a guide to help you with your Cyprus company registration, this serves as a general guide and may be subject to the most recent changes of the legislation in various jurisdictions. We invite you to Contact Us for the latest update and free quotation.
Cyprus Company (Cyprus Limited Liability Company)
Legal form: A duly incorporated Cyprus company constitutes a separate legal entity and may sue and can be sued in its own name. A Cyprus company may take the form of a Private Limited Liability Company either limited by shares or by personal guarantee of its members. By far the most usual form that businessmen and or corporations prefer is the Limited Liability Company.
Name of the company: A company name must be chosen and approved by the Registrar of Companies. This procedure usually takes 2-4 working days. We have a list of approved names to select from, which will help speed up the registration procedure.
Memorandum and Articles of Association: To register a limited liability company, Memorandum and Articles of Association must be prepared by a licensed law practitioner and filed at the Office of the Registrar of Companies. Memorandum specifies the activities in which the company may engage and Articles of Association specifies the rules governing the internal management of the company.
Shareholders: The number of shareholders in a private Limited Liability Company may be from 1 to 50. A shareholder can be a physical or legal person of any nationality. Details of shareholders such as their names, address, date of birth, passport number and nationality must be submitted to the Registrar of Companies. Beneficial owners of the company have the option not to disclose their details should they wish so. The beneficial owner may use nominee shareholders provided by our firm by virtue of a personal agreement or a Deed of Trust.
The minimum share capital: A Cyprus limited liability company should have a minimum authorized share capital of EUR 1,000. The minimum issued capital is one share of EUR 1.00.
Company Directors and Secretary: The minimum number of directors is one. The company must have a Cyprus resident secretary (individual or legal entity). The director can be a physical or legal person of any nationality. The same person cannot act as both the director and secretary if there is only one director in the company. The Registrar of Companies keeps the following details of company directors and secretaries: full name, nationality (or country of registration in the case of a body corporate), residential address (or registered address in the case of a body corporate), date of birth (or incorporation), passport number (registration number) and occupation. We can provide you with a nominee director (if this service is required) for a reasonable fee.
Registered office: Every company is required to have a registered office and address in Cyprus which should be notified at the Registrar’s Office.
Basic Tax Principles: Following the latest changes in the Cyprus Tax laws, a Cyprus registered company is taxed at 10% on its net profits provided that the company has management and control in Cyprus. However, a Cyprus registered company may apply for a tax non-resident status provided that company management and control are exercised outside Cyprus and the company does not derive any income in Cyprus. Management and control are considered to be exercised outside of Cyprus if (i) the important decisions about the company are made outside Cyprus and (ii) the majority of the members of the board of directors are not residents of Cyprus for tax purposes.
Non-resident status: In the case where a Cyprus company does not have management and control in Cyprus then the company is not subject to taxation in Cyprus. However, it should be noted that in such a case the company might not take advantage of Cyprus double tax treaties network. Further it should be noted that in some rare cases the company may be subject to taxation at the jurisdiction were management and control is exercised.
Submission of audited financial statements: A Cyprus company must submit audited financial statements to local Tax Authorities and Cyprus Company Registrar.
The Company Law requires that a Cyprus company maintains proper accounting records in accordance with the International Accounting Standards. The first reporting period can be up to 18 months from the date of incorporation. Financial statements for a 12-month period have to be prepared annually after that. A Cyprus registered Auditor is required to be appointed.
The Cyprus companies have to prepare and submit their annual tax returns to the Tax Authorities by 31st of December following their year-end.
Offices in Cyprus: A Cyprus company may operate from abroad or may have a fully-fledged office in Cyprus. There are certain regulations and procedures that must be fulfilled in the case were a businessman wishes to establish a fully-fledged office in Cyprus.
Meetings: Company meetings need not be held in Cyprus
Time needed for Cyprus formation: Usually it is 2-3 weeks.
In order to proceed with the formation of the Cyprus company (Cyprus Limited Liability Company) please complete our Company Application Form.
Our fees and prices for the formation of a Cyprus company
Cyprus Company Formation cost includes:
- Name check and approval
- Filling the incorporation documents with the Registrar of companies
- One set of standard corporate documents
- Payment of government subscription tax on authorized capital up to EUR 1,000
- Provision of registered office and address for one year
- Provision of a company secretary for one year
- Registration with Cyprus Tax Department and obtaining Cyprus tax number
- Rubber stamp
Optional services (to be chosen by the client)
- Provision of nominee shareholder, per annum
- Provision of nominee director, per annum
- General Power of Attorney issued by nominee director, Apostilled
- Notarial certification
- Apostille
- Opening a corporate bank account
- Bank card application
- Certificate of Incumbency
- Certificate of Good Standing
- Mail collection, mail forwarding
- Provision of a postal address
- Virtual office
- Metal seal
- Extra rubber stamp
Recurring maintenance fees from 2nd year and after
- Provision of registered office and registered address
- Provision of company secretary
- Preparing and submitting of Annual Return
- Government Annual Levy
Speak to one of our consultants for a free quotation
For DeltaQuest Corporate Services please contact:
Telephone: +357-25-878480
Fax: +357-25-761160
E-mail: corporate@deltaquestgroup.com
Mailing address: P.O.Box 57216, Limassol 3313, Cyprus
Business address: 14, Louki Akrita Str., Ayias Zonis, Limassol 3030, Cyprus
You can also fill our Contact Form
Print This Page
