The procedures for a Cyprus company incorporation are fast and simple. The company can be incorporated in your absence and in a few days. Choose the name of your company and we will do the rest. All we need from you is a copy of your passport, a description of the main activities of the company and the incorporation is over in 4 to 5 working days. That simple. At the time you incorporate your company you will need to appoint a Director, a Shareholder and a Secretary. A Registered Office Address is also required. Finally you have to declare the capital of the company i.e. how many shares and what value each. There is a small tax of 0.6% on the capital paid once. The capital itself does not have to be paid in cash. Below we give more information about these requirements.
Great Benefits of A Cyprus Company
One of the reasons international investors show so much preference to the Cyprus company is its multitude of tax, legal and administrative advantages that no other jurisdiction offers. Cyprus is not a Tax Haven, it is a low tax jurisdiction. it is not any black list and there are no embargoes or other restrictions against Cyprus such as there are against some and very soon against a lot of Tax Havens. See below the amazing tax and other benefits of a Cyprus company:
- A Cyprus company pays only 12.5% tax on its net profits.
- Plus it pays 0% tax on any revenues from trading in securities such as shares, bonds, forex, bitcoin, etc.
- Also a Cyprus company pays 0% tax for all profits from the sale of real estate abroad.
- With a proper tax optimization scheme we can reduce your corporate taxes even lower than the 12.5%!
- A Cyprus Company is an EU company. It is acceptable in every country of the world without any problem for operating and for trading or for banking.
- A Cyprus company pays 0% tax on dividends paid out to the shareholders.
- A Cyprus company pays no tax on any dividends paid to it by any other company in which it holds shares.
- A Cyprus company is exempt from stamp duty in many occasions.
- A Cyprus company pays 0% tax on profits of permanent establishments abroad, such as hotels, casinos, restaurants, factories etc!
- Cyprus has a network of more than 65 Double Taxation Avoidance Treaties with as many countries of which you can benefit!
- You can get any documents you need for your Cyprus company very fast, in English, Appostil and at reasonable fees.
So Incorporate a Cyprus Company today and be on your way to success and low tax bills. Our firm will do everything by email, fax and courier. Incorporation of Cyprus Company is now done in 4 days from the day a name is approved by the Cyprus Registrar of Companies. Once the company is complete, all the incorporation certificates are appostilled and a company kit or package is prepared for you in which all the certificates, the trust deed, the share transfer instrument, share certificate, tax registration, memorandum and articles of association, welcome letter, instructions and other literature is prepared for you and couriered to you door. Your Company is complete and you can start trading! Cyprus company formation process formalities, fees, time schedule, benefits and so on can be seen in our article on Cyprus company formation. See Cyprus Company Formation for more information and other data for a Cyprus Company generally.
Cyprus Company Incorporation Requirements
The requirements for a Cyprus Company Incorporation entail the following basic needs and actions. First a name must be chosen by the real owner of the company which is submitted to the Cyprus Registrar of Companies for approval. That normally takes about 5 days if it is approved without ado. The company must have a Director at least who must be a Cyprus tax resident person, so that the company is considered to be a Cyprus tax resident company.The Director can be anyone of course, He can be a foreigner, But the company will not be a Cyprus tax resident company and lose the advantage of the 12.5% tax.
A secretary is also required by the Companies Law Cap 113. He is usually a local tax resident individual. These positions are filled at the time of the Cyprus Company Incorporation, although they can be changed at any time later.Finally the Shareholder of the company must be submitted to the Cyprus Registrar of Companies. Nominee persons or legal entities can be appointed, so that the identity of the real owner of the company can remain confidential. Our firm can make available to you Nominee Directors, Nominee Shareholders and Secretaries. When you incorporate a Cyprus company all your records, certificates, documents, financial statements, loans etc are kept in the Cyprus company register, by the Cyprus company Registrar.
Registration of the New Company at the Tax Office and The Vat Authority
Upon its incorporation a Cyprus company must within 30 days be registered at the Tax Office to secure its TIC number. The company must once a year file audited accounts and pay its income tax-corporate tax. Also a new company must register with the Vat Authority and get its EU Vat registration number as soon as it begins operations and calculates that it will have sales per year over the sum of 17k. Getting a Vat Number is not difficult in Cyprus. You can have it in about 2 days! You will get a Vat Registration Certificate in Greek, in about 2 months after incorporation. For more info about vat registration follow this link: Cyprus VAT Registration.
Bank Account for Company in Cyprus
Cyprus is an EU state and enjoys all the benefits of the EU. As such your Company in Cyprus also enjoys all the EU benefits. Nowadays when the banking environment has become more demanding and cautious opening a bank account in many countries has become almost impossible or difficult. Yours Cyprus Company will have no problem. It will be able to open a bank account in Cyprus or any other country without any problem. This is something to write home about as it will assist you to access your clients and your providers easily fast and efficiently. Incorporate a Cyprus Company and reap all the benefits and… break a leg!
Capital Requirements On Cyprus Company Incorporation
At the time of a Cyprus Company Incorporation the capital of the company must be also declared. The capital of a Cyprus company must be in Euro. There is no minimum or maximum rule for it. It can be one Euro or 1 mil. Euros. There is also no requirement that the capital must be paid up at the time of Incorporation. The capital also defines and restricts the liability of the owner of the company. It is a limited liability company because the liability of the shareholder for the debts of a Cyprus company is limited to the amount of the capital he has bought in the company! The capital of a Cyprus company can be later increased or decreased as the needs arise. It can be increase by a resolution of the company. It can be decreased only by a court order on application by the Directors. A company can be closed down by voluntary liquidation or by a creditor`s liquidation.