Here are some of the most Frequently Asked Questions and Answers about registering a company in Cyprus:
There are many benefits of incorporating in Cyprus
- Simple incorporation process
- Company requires only 1 shareholder
- Company requires only 1 director
- The shareholder is not required to be in Cyprus for incorporation
- 12.5% corporate tax rate
- Privacy, confidentiality and protection of information
- Extensive double tax treaty
Depending on the option chosen, a new company, including name application will take between 5-10 days. A ready off the shelf company can be ready for use in 1 day including the opening of a bank account.
Individuals
Proof of ID in the form of a certified passport copy. The certification must be done by a notary, lawyer, accountant or banker.
Bank reference letter.
CV
Professional reference letter from an accountant/lawyer.
Recent utility bill of the last three months which clearly shows the residential address. Please note that mobile phone bills are not acceptable.
Corporate
Proof of ID in the form of a certified passport copy for all of the beneficial owners, the directors and the shareholders. The certification must be done by a notary, lawyer, accountant or banker.
A bank reference for the beneficial owners, the directors and the shareholders.
Professional reference letter from an accountant/lawyer for the beneficial owners, the directors and the shareholders.
A copy of all the corporate documents of the company including shareholders’ certificate, directors’ certificate, registered office certificate, incorporation certificate, Articles and Memorandum of Association. All the above must be certified.
Recent utility bill of the last three months which clearly shows the residential address for the beneficial owners, the directors and the shareholders. Please note that mobile phone bills are not acceptable.
Included in our fees for your company are the following: Certificate of Incorporation, Certificate of Directors and Secretary, Certificate of shareholders, Certificate of the Company’s Registered Office, Company’s Memorandum and Articles of Association, rubber stamp, first company minutes and expenses paid to the Registrar of Companies.
Should you require the provision of nominee services, this can be arranged for an additional fee.
Certain activities cannot be undertaken unless a special license has been obtained. These activities include banking, insurance, financial services or other services.
An annual levy of €350 is payable to the Registrar of Companies annually.
The company must file an Annual Return. The filing of audited accounts is required for tax purposes.