Cyprus Company Formation
Find all fees and additional information for an successful formation of your company in Cyprus.
Annual fee without nominees or additional services. (2nd year fee)995 ~ USD 1.275
|Incorporation fee* costs in euro||1.595 ~ USD 2.035|
|Ready-Made / Dormant * costs in euro||1.995 ~ USD 2.545|
|Annual fee without nominees or additional services. (2nd year fee)||995 ~ USD 1.275|
Use this currency converter if you need the current exchange rate.
Annual Fee / Ongoing Yearly fee
|Secretary (required by law) costs, in euro||450 ~ USD 575|
|Registered office (required by law) costs, in euro||450 ~ USD 575|
|Nominee directors (optional) (per nominee) costs, in euro||450 ~ USD 575|
|Nominee shareholders (optional) (per nominee) costs in euro||450 ~ USD 575|
|Foreign nominee shareholder (optional) (per nominee) costs in euro||895 ~ USD 1.139|
|Virtual Office in Cyprus with Phone, Mail and phone forwarding||1690 ~ USD 1.850|
Registration fee includes:
|Apostilled registration documents and shareholder certificate.|
|Memorandum of articles and registration certificate|
|Power of Attorny (POA)|
|Typically it takes 7 - 14 days for the company to be registered.|
|Ready Made / Dormant companies - it takes only 1 day before you can start doing business.|
- Accounting records must be kept in the offshore jurisdiction.
- Annual audited financial statements must be submitted to the Inland Revenue and Registrar of Companies.
- The tax rate is only 12,5% on profits. IBC does not pay any corporate tax!
- You need to let us know if you for any reason don't need this enity any longer, you can't just ignore renewal requests.
- You gain 100% privacy and security if nominees are appointed, otherwise your data is public available.
- We will send you the latest list of Shelf / Dormant Companies on request if needed.
ADD ON Services
- Accounting services - CCLOGIC offers to maintain the required accounting services for you.
- VAT Registration - If you need to registere for VAT, CCLOGIC offer you to complete this registration for you we will also submit the quarterly VAT submission upon request.
- Annual Report - CCLOGIC offers to complete and submit the corporate tax annual report.
- Dedicated Phone with a Cyprus phone number - CCLOGIC offers all it's clients a dedicated phone line with a dedicated phone number, with call forwarding to any international phone number.
- Virtual Office Services - As part of the mandatory registered office address, we also offer to forward all mail received on the companies address to an address of your choice.
- Cyprus Bank Account opening service for your company or private use, we handle the entire process from the beginning to the final account allocation.
This is what you need to incorporate:
- A copy of passport or other picture ID
- Utility bill (phone or electricity bill) not older than 3 months.
- Agreement which is send to you on request.
- From time to time a bankers reference letter is required if you want to open a bank account
- If you dont want to be listed at the public register, you will need to order a nominee shareholder and director.
- A Nominee Director is a local or foreign person which will be appointed to be the director, much more information can be found here
- A Nominee Shareholder is a local or foreign person which is registered as shareholder.
Most of our clients choose our nominee services.
CCLOGIC will introduce you to practising auditors and accountants that will provide these services at very reasonable costs which are always agreed in advance with the client.
Different types of companies:
We have 2 types of entities, as far as their tax status is concerned. These are:
(a) A resident entity which is taxed at 12,5% on its profits.
(b) A non-resident entity which is not taxed.
The place where management and control of the company is exercised determines the residence status. If the majority of the company directors are Cypriots, then it can be assumed that decisions are taken in Cyprus and the company is Cypriot resident.
A resident Company pays 12,5% tax, can get Cyprus Tax Resident Certificate and can distribute to its shareholders all remaining profits without any withholding taxes. Also the company can take advantage of more than 40 double tax treaties that Cyprus signed with various countries. It can get a VAT Registration number. For most who are doing business online and in Europe it is important to obtain a VAT number so that their customers can avoid to pay VAT directly to the vendor. You can consult our agent for more information if you need it.
A non-resident company, pays no taxes, but it cannot take advantage of the double tax treaties network and cannot get a Tax Resident Certificate. It cannot get a VAT Registration number.
Registered Office must be in the offshore jurisdiction. It cannot be anywhere else (any other country) most often this type of formation takes place if the purpose is a Holding structure for asset and property protection worldwide or to protect your assets from lenders and creditors.
In 2014 the total number of New Incorporations, was 11.169 that's an increase of new registrations because most know of the islands advantage. We don't have the total number for 2015 for obvious reasons but compared to the number of registration that took place last year same time then we can already see an increase in registrations of new entities in 2015!
The strongest setup in Cypriot Europe,for businesses that are looking for a reliable and stable enviroment of doing business. Many Internet Businesses and Online Internet Marketers have found their way to the island and to establish their virtual business and presence there. It's a perfect chance to enter the boarders of the European Union with the lowest possible tax in Europe.
Double Tax Treaty Overview
To avoid to pay taxes locally your country of residence need to have signed a double tax treaty with Cyprus.
Latest statistics from Februar 2015
The above stats are taken directly from the registry of companies and includes the latest figures from the last 6 years, we have tried to get the most relevant information delivered directly to you.
If you have any questions or need help then please do not hesitate to contact us anytime. We are here to help you through the entire process quickly and hassle free.