Cyprus Company Formation in 2021

Updated 08 June 2021

 

How to register a Cyprus Company for 2021

We are located in Cyprus and have expertise since 1979!  Our hundreds of international clients are with us for many years. Trust the experts! We offer very competitive fees too. Cyprus company formation is fast and fuss free. We make it simple. Time is money. Don`t risk your future. We can register your company in 6 days. See below a few notes on Cyprus Company Formation 2021.

 

Documents for Cyprus Company Formation – 2021:

  1. Passport
  2. Utility Bill or other proof of address
  3. CV
  4. Fill in our questionnaire
  5. Bank Statement of any bank account you may have.
  6. We do not require your presence.

 

Cyprus Company Package for 2021

 

 The Legal Fee for this package is only €600 plus vat and it includes all the following without any other charge:

 

  1. Certificate of Incorporation in English,
  2. Certificate of Directors/Secretary in English,
  3. Certificate of Shareholders in English,
  4. Certificate of Registered Office in English,
  5. Memorandum and Articles of Association in Greek and English,
  6. Apostil of all the 4 Certificates and the M&A,
  7. All Court work necessary,
  8. Payment of all Court fees,
  9. Registrar work,
  10. Company Register of Members,
  11. Company Register of Directors,
  12. Company Register of Secretaries,
  13. Deed of Trust to Real Owner by the Nominee Shareholder, 
  14. Share Transfer Instrument,
  15. Nominee Director Services Agreement,
  16. Issued share capital of 1000 shares of 1 euro each,
  17. All Company Resolutions necessary to start up the company,
  18. One Incumbency Certificate at any time you request it during the first year for free.
  19. Company Kit,
  20. Company Rubber Seal.

 

 

Fast Business Bank Account – 2021

 

Our Firm will open a fast bank account for  your company as soon as it is incorporated. You have a choice of a Cyprus bank or an international bank. We do not require your presence. Minimum documents as possible offering the following facilities:

1.Debit/credit card for one or more,

2. Internet banking 24/7,

3. Multicurrency at no extra charge,

4. No minimum deposit,

5. No restrictions on transfers,

6. Two or more signatories. 

 

 

Get EU VAT Number in 48 hours

Our Firm can get you an EU Vat Number in about 48 hours after your Cyprus company formation. Vat rate in Cyprus is 19%. If you have an ECommerce business, now you don`t need to register your company in many countries. Cyprus will collect such Vat Tax and pay it to the various countries. You save a lot of costs and time!

 

 

Tax Benefits of a Cyprus Company

 

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.

 

 

Accounting- Audit – Vat Services – Financial Advice for 2021

 

Our Firm soon after your Cyprus Company Formation will get you in touch with independent Accountants to handle your company bookkeeping, accounting, audit and vat services. They are UK trained professionals. We have referred hundreds of international clients to them and did not have a single complaint. They will also advise you for free for your tax, vat or other issues in operating your company.

 

Immigration Services with your Cyprus Company

 

If you  need any immigration services with  your company we will be glad to assist you. For long stay visa (visa for life) for example we have extensive experience or for permanent residence by investing 300 000 Euro. For work permit or temporary visa. Our Firm can secure them to you fast and no fuss.

 

Tax Residency in Cyprus for 2021. Relocate to Cyprus

 

We can assist you to become tax resident in Cyprus with the 60 day tax residency rule or the 283 day tax plan. You don`t pay tax on dividends from all over the world for the first 17 years! You can pay personal tax in Cyprus if you choose. Personal tax is 20% on 19500 euro to 2800 euro, 25% on 28K to 36 K, 30% on 36K to 68K and thereafter 35%!

 

See below a few quick bullet points for Cyprus Company Formation:

 

 

  • Our speed is our capital. We know that time is money. We do not want to waste your money. Get your Cyprus Company Formation in 4-5 days. Fast and no fuss. We do not require your presence although we will be thrilled to have you at our offices to get acquainted.
  • Reasonable and client friendly fees. No Hidden Costs! We offer you Nominee Director and Shareholder for very reasonable fees. Get in touch and ask us to quote the terms and fees for nominee services. 
  • The capital of your company is not payable in cash in the company bank account. It can be from 1 euro to as many millions you want. There is no tax on the nominal or issued capital of a Cyprus company. It can be increased at any time very quickly.
  • Operate from your country. No need to be in Cyprus. You save thousands of costs in labor, rents, electricity and other amenities by operating your company from your country, from your office. Your presence in Cyprus is not required. You are welcome to visit however! We`d love to meet you, show you around and treat you to Cyprus meze!

 

 

  • A Cyprus company can be tax resident or non tax resident in Cyprus. If you appoint a local nominee director your company will be tax resident and if you become director yourself your company will be non tax resident. Call or email us for more information.
  • What type of company should I choose? The company everybody uses is the private limited liability company. This is a private company, limited by shares and as the name says, your responsibility to creditors is limited to the capital you issue!
  • Changes in a few days. New documents same day! One of the big advantages of a Cyprus company is that you can make changes very fast compared to other countries. This save you time, money and you don`t lose any deals! Time is money!
  • Get all the types of services you need in Cyprus at very reasonable costs. Cyprus is one of the top countries in over qualified experts in all fields. Cyprus offers fast communications and internet, flights to all over the world, low crime and good food.

 

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.

 

 

Cyprus IBC for 2021

 

A Cyprus IBC company is a private limited liability company. As the title says it is an International Business Company. No difference from the common company. 

Cyprus company formation: 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 IBC company in your absence. There is no need to be present in Cyprus in order to form your company. We can do everything by email and courier. Save your time and money! 

 

We offer competitive fees. And there are no hidden costs. Our fees are client friendly and competitive while at the same time you get highly professional services. Email us today for a quote! 

 

All Nominee services for your IBC i.e. Nominee Director and Nominee Shareholder for full confidentiality and tax residency of your company plus Nominee Secretary. The Nominee Persons we offer you are specially trained and they have the experience to assist and support you in your business fast and effectively.

 

Cyprus company formation in about 6 working days, after approval of your company name by the Company Registrar. You may choose any name you like to submit for approval or choose a name from our pre-approved company names list for saving time. A name will be approved by the Registrar of Cyprus Companies in about 4 tp 5 days!

 

Bank Account with your IBC company formation. A Cyprus company can get a bank account in any country it chooses. Our Firm is well connected in the Banking sector and can offer you a fast and fuss free bank account for your company either in Cyprus or abroad!     YOU CAN GET A BANK ACCOUNT IN YOUR ABSENCE!

 

Full Accounting and Auditing services on the formation of your Cyprus company which includes Bookkeeping, Accounting, VAT  declarations filing, Audit and Filing Yearly Accounts. Our Firm also offers you full financial advice and tax optimization schemes. 

 

EU VAT NUMBER IN ABOUT 48 HRS!  We can get you an EU VAT NUMBER in 4-5 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 for 2021

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.

 

Cyprus Offshore Company

 

A Cyprus Offshore Company is a company which does not do business in Cyprus. It is widely used by international investors to carry out their business through Cyprus but not in Cyprus. A Cyprus Offshore Company offers a multitude of tax, legal and administration advantages. A Cyprus Offshore Company can be set up within 4-6 working days by our Firm remotely. It is a private limited liability company. 

See the difference between an international company and a local tax resident company by following this link:   Cyprus Offshore Company.

 

Cyprus Company Formation – Tax Benefits

Benefits of a Cyprus company for 2021:

  1. Only 12.5% corporate tax!
  2. 0% tax on the dividends paid out to its shareholders.
  3. Only 2.5% tax on revenues from intellectual property rights.
  4. 0% tax on dividends received from subsidiary companies all over the world.
  5. 0% tax on any profits made by trading in its own shares or shares of other companies or other securities such a forex, bonds, debentures etc.
  6. Business bank account in only a few days after its incorporation.
  7. The company in Cyprus on its formation, can be logged with the vat authority in 2-4  days.
  8. It is an EU company and it enjoys respect all over the world. It is not blacklisted in any country. Cyprus is a low tax jurisdiction and not a no tax, tax haven.
  9. After its registration in Cyprus a company enjoys capital gains tax exemptions on sale of immovable properties or other assets, abroad.
  10. No contract stamp duties in many occasions.
  11. A Cyprus company pays no tax on profits from permanent establishments abroad!

 

Cyprus Shelf Company

 

A Cyprus Shelf Company is a ready made company. A company off the shelf. It can be used by investors who are in a hurry to sign a great deal, or to take advantage of a legislation which may be on the way out. A Cyprus Shelf Company has Directors, Secretary, Shareholders appointed. So if you prefer to be one of those positions yourself a change has to be made. A shelf company does not offer you more speed if you want to be appointed yourself Director or Secretary or Shareholder because the changes require a minimum of 15 days. A new company can be set up in about 6 days. However a Cyprus Shelf Company can be used to sign a big contract immediately and after you can make the changes you want. A shelf company if it is older than a couple of years will normally cost you more than a new Cyprus IBC because you will have to pay 490 Euro per year for renewal fees to the registrar. 

 

Any physical person of age and any legal entity irrespective of nationality can own a Cyprus Shelf company. A company in Cyprus is also called an IBC, or Cyprus IBC which means a Cyprus International Business Company. Follow this link if you want to read more about a Cyprus IBC.

 

The most common Cyprus company used is a private limited liability company limited by shares, and of course as the name suggests it is of limited liability. That means that its members ( the shareholders) of the company are only liable to the extent of the value of the shares they own in it. The creditors cannot confiscate the personal assets of the shareholders to satisfy debts of the company.

 

Types of Legal Entities in Cyprus

  1.  A private company limited by guarantee.
  2.  A private exempt company.
  3.  A partnership either general or limited.
  4.  A public company limited by shares.
  5.  Cyprus sole proprietorship (Law , Cap 116).
  6. A non-profitable organization.
  7. A Cyprus local or offshore or international trust.
  8. A club.

If you want to read more about company formation and the Cyprus company generally Cyprus Company Incorporation is a very interesting article full of technical information.

 

Services Available After A Cyprus Company Formation

 

 

1. Nominee Services-Full Anonymity

 

Our Firm will provide you with the services of qualified, professional and honest Nominee Director and Secretary to satisfy the legal requirements of your company and to enable you to benefit all those tax advantages when your company is tax resident.

 

 

2. Nominee Directors

 

  • Who can act as a nominee director?
  • What powers does he have according to the legislation?
  • Can he harm my interests? How can I restrict his powers?
  • How can I take over his powers?

A Cyprus company can have as many directors it needs. The minimum is one director. There is an answer to all your questions. Let’s take them one by one. Any male or female person of sound mind and of age, who has not declared bankruptcy, can be appointed to act as a nominee of any company in Cyprus. 

The directors can exercise all the powers as those are provided for by the memorandum and articles of association on the Cyprus company registration! 

 

 

3. Nominee Shareholders

 

A Cyprus company can have 50 shareholders maximum and one minimum. A nominee shareholder is usually appointed to provide confidentiality for the real owner of the company. He is a person whom we will use to be the shareholder, in each case that the beneficial owner needs to keep his anonymity. This person again, is one who is closely associated with our firm, and the real owners are persons of the utmost trust, integrity and honesty.

 

4. The Secretary

 

A Secretary is appointed as required by the Company Law. A company can have one or more secretaries. Here again, the same questions can be asked for the nominee secretary, as for the other nominees. Again for confidentiality reasons a nominee secretary is appointed. A nominee secretary does not have many. A nominee secretary`s participation in the day to day and the serious running of the business is minimal and peripheral. His powers are formal. 

 

 

 

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