cyprus company formation

Cyprus Company Formation – May 2022

Updated 17th of  May 2022

 

How do I register a company in Cyprus?  Is Cyprus company formation possible in my absence?  How fast can I set up a Cyprus company?  What are the requirements for company formation in Cyprus? All these questions and more can be answered to you if you get in touch with us. Is a Cyprus company an IBC company?

 

Documents Required for Cyprus Company Formation –  May 2022

 

For the incorporation of your company you don`t need too many documents. Only your passport, a utility bill, a CV and to fill in our questionnaire. We will do the rest. Your presence is not required. Everything is done by email and courier. 

 

tax benefits of cyprus company

Tax Benefits of a Cyprus Company – May 2022

 

A Cyprus company pays only 12.5% corporate tax, 0% tax on dividends to the shareholders, 0% tax on dividends paid to the company, 0% tax on the revenue from sale of the shares of the company, 0% Capital Gains Tax, 0% Stamps duties, No withholding tax, only 2.5% tax on revenue from IP rights.


Quick bullet points for Cyprus Company Formation

 

-Your presence is not required for your Cyprus company formation. We can do everything remotely.

-Documentation required is minimal.

-All foreign people can own a Cyprus company.

-You don`t need a real office in Cyprus.

-You can open a bank account for your company in Cyprus. 

 

Cyprus Company Formation for 2022

 

Cyprus company formation for 2022: Our Firm is one of the oldest Law Firms in Cyprus. We have the expertise to make your company formation fast and simple. No fuss. No time wasting. Our Firm has been incorporating companies since 1979!

 

We can form your company in your absence. There is no need to be present in Cyprus in order to form your company. 

 

All Nominee services for you. Nominee Director and Nominee Shareholder for full confidentiality and tax residency of your company plus Nominee Secretary. See nominee services here.

 

Bank Account with your Cyprus company formation. A Cyprus company can get a bank account in any country it chooses. 

  

We can get you an EU VAT number in 2 days!  On the registration of your company at the VAT Authority a Cyprus vat registration certificate in Greek is issued. That is sent to you in the company Kit.

 

Cyprus Company Registration is a term also  popularly used for  the formation of a company, although technically it is the act of the Registrar to register your company in the records of the Registrar of Companies and issue your company certificates.

 

 

Company Formation Info

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Frequently Asked Questions

By the Cyprus Company Law, Cap 113 and the general legislation or the Common Law principles there are no restrictions at all as to the Real Owner of a Cyprus Company. Any physical person from any country and of any nationality if he is of age and not a bankrupt can be the Owner Shareholder 100% of a Cyprus company. Also any legal entity such as another company, or Trust, or Foundation or any form of legal entity such an LLP etc can be the Owner Shareholder of a Cyprus Company.
There is peculiarity on this issue. You can be the Director of your company of course but the rule is that for your company to be Tax Resident in Cyprus and benefit of the very low taxes, the management and control of the company must be in Cyprus. That means that the director must be residing in Cyprus. What can you do? You can appoint a Nominee Director i.e. a local person to act as Director on your behalf. Our Firm offers Nominee Director services. Ask for details.
There are two addresses you may have. One is the Registered Office Address. This required by the Company Law to be in Cyprus. This address is only useful for the notification of official letters or other communications to your company by the Registrar of Cyprus Companies, the Tax Office, the Vat Authority, any other Cyprus Authority and by any third parties who need to officially communicate something to your company and to you. This address is not the Business Address of the company and you may not use this address on the official documents of the company such as invoices, website, letters, business cards etc. If you need such a business address we offer Virtual Office Services. Please visit our relevant article or ask for details.
You may suggest a name of your liking or choose a name from our list of pre-approved company names. It`s free. If you suggest your own name it will have to be approved by the Registrar of Cyprus companies. It takes generally about 5 days for its approval. The name must not contain any offensive words, illegal content, must not be identical or similar to other names in the records of the Registrar and must not appear on the internet as the name of any other person worldwide.
A Cyprus company has very low yearly maintenance costs compared to most EU countries. The main services required for it are the Registered Office Address, the Registrar renewal fee, the filing of HE 32 document and the filing of the yearly Financial Statement. If you use the services of a Nominee Director of course then you will have to pay his yearly salary. Finally must keep in mind that your company must file audited accounts every year and file vat declarations on a quarterly basis. Ask for details to get a full picture. These fees are much lower than in any central European state.
If you deposit 173 K Euro in the Bank Account of your Cyprus company in Cyprus you get a work permit. This money is not blocked. It can be used for the needs of the company such as salaries, rents etc. If you return it to its source after you get the work permit, if the immigration happens to check on it which is very rare you may be requested to return the money back.