The Republic of Cyprus is an island state in the Mediterranean Sea. Being a former colony of Great Britain, it is now an active member of the European Union.
In addition to a convenient geographical location and close links with Great Britain, Cyprus is a popular area for registering companies and doing business. The main currency is the euro, the main languages are English, Greek and Turkish.
Many entrepreneurs from all over the world love Cyprus as an ideal place both for holidays and for registering and doing business.
The legislation of the jurisdiction has simplified all processes as much as possible.
In order to learn all the details of doing business in Cyprus, contact our lawyers and find out the answers to your questions already at the first free consultation.
Advantages of Cyprus as a jurisdiction
Cyprus is considered by many businessmen today. The following advantages of it can be listed:
- favorable tax regime
- convenient geographical location
- relatively simple registration process and low maintenance costs
- Cyprus is not included in the list of “black countries”
- double tax treaties with a number of countries
- low tax rate for a European state
- lack of currency control
- if a non-resident receives an inheritance, he or she is exempt from paying taxes
- data anonymity
Since a wide variety of companies are registered in Cyprus and successfully operate here, you can also transfer your business to this jurisdiction.
Contact our lawyers and get a free professional consultation.
What types of companies are the most common?
In Cyprus, as in many other jurisdictions with preferential taxation, the following types of companies are especially widespread:
Limited liability Company
Sole proprietorship
Branch of a foreign company
Partnership
Company registration process
As noted earlier, today the process of registering a company in Cyprus is simplified as much as possible. Among the special requirements are the following:
- Director / shareholder — from 1 person
- There are a number of requirements for the future name of the company (translation into Greek or English, euphony, use of Limited)
- Having an office with registration in Cyprus is mandatory
- You shall have a secretary
- You can use a nominee service
Are there any business restrictions?
Despite the rather large number of advantages of Cyprus, it is worth noting that there are some restrictions, such as the need to obtain special permission for certain types of services (especially banking and insurance services).
Document features
In order to register a company in Cyprus, you shall be very careful with the documents. Our lawyers will help you to draw up a detailed set of documents and, if necessary, will do everything for you.
- Company registration certificate
- Copies of shareholders’ passports
- Charter and statutory documents, duly executed
- Bank statement
- Certificate of legal address
To receive a complete set of documents, write to us.
Taxes and reporting
- Tax rate 12.5%
- Value added tax 19%
- Submission of tax returns and financial statements annually
Depending on the type of company, certain benefits need to be considered and applied.
Our company will allow you to register any company in Cyprus.
