Cyprus

Cyprus is a Presidential Republic, a Member State of the European Union since 2005. Cyprus is a politically stable country with multi-party democracy.

Cyprus has been an independent republic since 1960, population – 850,000.

The legal system of Cyprus is based on the English Common Law.

Company limited by shares (LTD) incorporated under the Cyprus Companies Law (identical to the 1948 Companies Act of the UK) can conduct business in any part of the world including Cyprus.

Tax RateNotes
Income (Corporate) tax12.5 %* non-resident company
Received dividends0 %certain exceptions
Paid dividends0 %
Profit from trading in Securities0 %
Capitals gains tax0 %exceptions if any immovable property is owned
Interest received (trading)12.5 %income tax
Interest received (passive)30 %defence tax
Interest paid0 %
Royalty income12.5 %
Royalties paid0 %if the right is used outside Cyprus
* if the director (management outside Cyprus) is a non-resident, a Cyprus company is not taxable in Cyprus.
Such a company cannot benefit from any Double tax treaties and cannot obtain a tax Certificate declaring it to be a resident of Cyprus.
Double tax treaties with 44 countries

Advantages

  • Member State of the EU
  • The lowest income tax rate in the EU
  • Good taxation rules
  • An LTD can be used as a holding company, for international trade, asset protection, as an investment company, etc.

Disadvantages

  • An income tax of 12.5 % for resident companies
  • Annually required to file an audited Financial Statement with the Register and tax authorities
Name Must end with the word “Limited” or “Ltd”
Share capital The standard authorized share capital is EUR 1 000, not required to be paid before the company is incorporated.
Stamp duty is payable, calculated on the basis of the value of nominal capital
Shareholders A minimum of one Shareholder, corporate Shareholders are allowed
Director A minimum of one Director, corporate Directors are allowed
Secretary Required, corporate Secretaries allowed. Must be a resident of Cyprus
Registered Address Required
Annual reporting Annual reporting (form HE32) to the Registrar.
An audited Financial Statement is to be provided annually to the Registrar and tax authorities

Company formation packages & prices
Basic
Plus
Company formation, preparation of documents
Incorporation fee
Registered address for one year
Resident Secretary fee for one year
A set of notarized and apostilled registration documents
Company seal
Shareholder’s services for one year -
Corporate director’s services for one year -
Issue of a General Power of Attorney (GPA), apostilled -
The basic currency for invoice issuance – USD

Annual levy to the Register (if the company was registered before the 1st of July), EUR 350350

Timeframe

Incorporation of a new company along with the preparation of apostilled documents 25 business days

Annual support (beginning with the second year)
Basic
Plus
Government fee
Informative annual report (HE32)
Registered address for one year
Resident Secretary fee for one year
Shareholder’s services for one year -
Corporate director’s services for one year -
Issue of a General Power of Attorney (GPA), apostilled -

Annual levy to the Register (must be paid before June 30th), EUR
350350

The basic currency for invoice issuance – USD


Audit Required


Information that has to be provided by the customer

Incorporation process is possible as soon as the Due Diligence procedure is completed. Please fill in and send us the Order form; immediately afterwards, we are going to send you the information on the document required within the boundaries of the Due Diligence procedure.

1. Consult to determine the order. To choose a jurisdiction for a company we offer a consulting services:

  • via telephone +(371) 67280645
  • via e-mail: consult@bbp-net.com
  • via online question form found in the header Ask an expert
  • Navigation through our web site will help you to determine: benefits, prices and requirements in respective jurisdiction

2. Complete an application form. After you have made your decision, please complete one of the online application forms:

3. Issue of invoice and settlement of order. Within one business day of filling in the online application form, you will receive an invoice via e-mail. You can pay the invoice using money transfer to the BBP bank account provided in the invoice or via Internet, using PayPal. We suggest using PayPal only in case the amount is less than 200 EUR.

ATTENTION! The invoice number should be written in the details of payment!

A payment acknowledgement will be sent to you as soon as we will receive the payment.

4. After we receive the required Due Diligence documents from you, we shall commence the incorporation or the preparation of the documents required in order to carry out the acquirement of a ready-made company.

5. Document delivery to the client. Documents are sent via international courier mail.

6. Further supporting services. We guarantee to inform, assist and provide you with all the necessary services for further support of the company.

Get acquainted with jurisdiction legislation free of charge!

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