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Cyprus
  • Cyprus is an independent republic which is situated on an island in the Mediterranean Sea between the continents of Europe, Asia and Africa. The country is well known for having a developed infrastructure, a relatively high standard of living, as well as a high level of education of its population. Cyprus is an important jurisdiction for tax planning and registration of companies for international business operations. Since 2004, Cyprus has been a member of the European Union, and as such, it has access to the EU Tax treaties.
  • In Cyprus, the tax rate amounts to 12,5%, which is amongst the lowest rates in the EU. Some types of revenue (such as dividends and income from securities trading) are exempted from tax in full.

GENERAL INFORMATIONTotal area - 9,250 sq km
Population - 850,000
Location - click here to see the map of offshore jurisdictions
Political status - republic
Capital - Nicosia
Official language - Greek, Turkish
Official currency - Euro (EUR)
Time zone - GMT + 2
Company typePrivate Limited Company (Ltd.)
Directors/OfficersCyprus Ltd. companies require a minimum of 1 Director, who may be a natural person or a corporate body from any legal jurisdiction. For a company having resident status, majority of directors must be Cyprus residents.
Each Cyprus company must file a Register of its Directors with the Register of Enterprises of Cyprus.
ShareholdersCyprus Ltd. companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each Cyprus company must file a Register of its shareholder/s with the Register of Enterprises of Cyprus.
SecretaryCyprus Ltd. companies require a minimum of 1 Secretary, who may be a natural person or a corporate body from any legal jurisdiction.
Each Cyprus company must file information on its Secretary with the Register of Enterprises of Cyprus.
Authorised share capital Standard authorised capital - EUR 2,000; must be paid into account of the company during the first accounting period.
Company Names The name of a Cyprus company must be expressed in Greek and English, and must end with the word "Limited" or the suffix "Ltd.".
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Finance", "Deposit", "Savings", "Security", "Royal", "Corporation" etc., will not be permitted unless an appropriate national operating licence has been obtained by the company.
There are restrictions on registration of a company under a name of geographical places - cities or countries. Also, the names specifying similar types of activity (for example, ABC TRANSPORT/ABC LOGISTICS) will not be registered.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.
Filing of Annual ReturnAn Annual Return must be submitted every 12 months after the date of registration.
Filing of Financial StatementsFinancial Statement, certified by licensed auditor, must be submitted every year.
Corporate TaxationThe standard tax rate 12,5 %. Certain types of income are completely free from the taxation.
Tax TreatiesCyprus has concluded more than 30 Double Tax treaties with different countries worldwide.
Timeframe for incorporation 5/7 working days. A complete set of company documents can be delivered in 6/7 weeks.
Takeover of management & secretarial services for an existing Cyprus Ltd. companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Cyprus.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 8 "Ready-made" companies available in this jurisdiction
Price of Cyprus Ltd. companyEUR 1,840, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 1,450 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
Also, additional fees must be paid for preparing of financial statement, which depends on complicity of the statement.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • Cyprus is one of the favourite jurisdictions for registration of holding companies due to preferable tax rules. All dividend income, in most cases, is tax exempt in Cyprus. Purchase and sale of shares or other securities are also not taxable in Cyprus in most cases.
  • With the current tax rate of 12,5%, Cyprus is among the most attractive jurisdictions from which to enjoy benefits under Double Tax treaties with the EU and other countries.
  • It is important to note that all companies registered in Cyprus are subject to strict regulations in respect of financial reporting under the applicable EU laws. Financial statements of Cypriot companies must be certified by a licensed auditor. Accordingly, the company owner is obliged to supply full business documentation of the company for the fiscal year.