set up a company in cyprus incorporation

Incorporate in Cyprus

$3,900.00

Set up a Cyprus Limited Liability Company

Cyprus has one of the lowest corporate tax rates across the European Union (12.5%). Due to its favorable tax regime, Cyprus is the gateway to the European common market chosen by many non-EU companies and a portal for investment from the West into Russia, Middle-east, Asia and South America. It is also a shipping hub, the Cypriot-registered vessel fleet is the fourth largest in the world.

In addition, dividends received by Cyprus companies are exempt from all taxes, with the exception of foreign-source dividends that are deductible for tax purposes for the paying company, being an interesting option for holding companies. Cyprus companies are also commonly used for international trading and for the provision of investment business services.

Learn more about incorporating in Cyprus

Cyprus Limited Company Formation and First-Year Fees – USD 3,900.00 (All included)

Note that our incorporation and annual fees are all “all-included fees”, and cover all the required services, duties, disbursements, and procedures to incorporate a Cyprus private limited company, and keep it in good standing.

  • All applicable Registration and Government Fees (Registrar of Companies)
  • Preparing the Memorandum of Association & Articles of Association in both Greek and English language
  • Preparing Letter of Appointment of Shareholder
  • Filing incorporation documents with the ROC
  • Providing Certificate of Incorporation, ROC-stamped M&AA, Certificate of Registered Office, Certificate of Corporate of Officers, and Certificate of Shareholders
  • Providing Certified Translated Copies of the Certificate of Incorporation, M&AA, Certificate of Registered Office, Certificate of Corporate of Officers, and Certificate of Shareholder
  • Preparing Shareholders’ Resolution resolving the Appointment of Director(s)
  • Preparing Board Resolution resolving the Appointment of Director(s), Secretary, Registered Office and other related matters
  • Preparing Board Resolution resolving the Opening of a Bank Account and the Appointment of Signatories
  • Registering the company with the Inland Revenue Department for Corporate and Value-added tax purposes;
  • Obtaining an EORI number with the Customs and Excise Department, if required
  • Preparing and maintaining Share Registers
  • Preparing Share Certificates
  • Providing Registered Office Services, including Registered Address, for one year
  • Appointing a Cyprus Resident Secretary and providing Corporate Secretary Services for one year
  • Providing notarized and apostilled copies of the Corporate Documents
  • Delivery of Corporate Documents, inclusive of Courier Fees

Time to form

Setting up the company generally takes between 2 to 3 weeks. We will prepare the Memorandum & Articles of Association, Letters of Appointment, Nominee Services Agreement (if applicable), and other related documentation within 1-2 days. The subscribers of the Memorandum (Shareholders) will need to print and sign the documents and post them to our offices.  Once we receive the signed documentation, we will proceed with filing the company with the Registrar. At that point, it may take between 5 to 10 business days for the Registrar to include the new Company in the Online Registry, and issue and release the certificates.

Bank Account Opening Services (Optional)

We can open bank accounts in Cyprus and elsewhere. In Cyprus, we can open accounts in Bank of Cyprus, RCB, Alpha Bank, Hellenic Bank, Eurobank, and Astro Bank. The accounts can be opened remotely, without the presence of the authorized signatories, directors, and/or shareholders/beneficial owners.

  • Cyprus Bank Account (6 Banks, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Switzerland Bank Account (1 Bank Remotely, 3 Banks In-person) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Netherlands Bank Account (2 Banks, Remotely) – USD 1,200.00 – Debit/Credit Cards Available
  • Lithuania Bank Account (1 Bank, In-person) – USD 1,200.00
  • Latvia Bank Account (1 Bank, In-person) – USD 1,200.00 – Debit/Credit Cards Available
  • Liechtenstein Bank Account (2 Banks, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Luxembourg Bank Account (2 Banks, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Czech Republic Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards Available
  • Gibraltar Bank Account (1 Bank, In-person) – USD 1,200.00 – Brokerage Accounts Available
  • New York (US) Bank Account (2 Banks, Remotely) – USD 2,000.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Singapore Bank Account (5 Banks, Remotely) – USD 900.00 – Debit/Credit Cards Available – Remote account opening available due to COVID-19 and related travel restrictions
  • Hong Kong Bank Account (3 Banks, In-person) – USD 2,000.00 – Debit/Credit Cards Available
  • Bahamas Bank Account (4 Banks, Remotely) – USD 500.00 – Brokerage Accounts Available
  • Cayman Islands Bank Account (5 Banks, Remotely) – USD 900.00 – Brokerage Accounts and Debit/Credit Cards Available
  • British Virgin Islands Bank Account (1 Bank, Remotely) – USD 900.00 – Brokerage Accounts Available
  • Mauritius Bank Account (3 Banks, Remotely) – USD 600.00 – Debit/Credit Cards Available
  • Labuan Bank Account (1 Bank, Remotely) – USD 500.00
  • Curaçao Bank Account (2 Banks, Remotely) – USD 500.00 – Debit/Credit Cards Available
  • Armenia Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • New York (US) Bank Account (2 Banks, Remotely) – USD 2,000.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Cook Islands Bank Account (1 Bank, Remotely) – USD 600.00 – Brokerage Accounts available
  • Belize Bank Account (1 Bank, Remotely) – USD 300.00 – Prepaid Cards Available.
  • Antigua Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • Puerto Rico Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available and Brokerage Accounts available
  • Nevis Bank Account (Remotely) – USD 300.00
  • Dominica Bank Account (Remotely) – USD 300.00 – Debit/Credit Cards Available and Brokerage Accounts available

Note that we can also assist the client with opening Electronic Money Institutions Accounts in the EEA at no additional cost.

All our bank account options provide for accounts in major currencies (USD, EUR, GBP, CHF, etc) as well as internet banking facilities. Note that “Remotely/In-person” means whether the account can be opened remotely or a personal visit to the bank is required to finalize the application.

Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.

Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.

Directorship Services (Optional)

The appointment of a Cyprus resident director is not legally required. However, having the majority of Board Members being local directors will entitle the company to obtain a Tax Residence Certificate, and access double-tax agreement benefits.

  • One (1) Local Director – USD 2,000.00 p.a.
  • Two (2) Local Directors – USD 3,000.00 p.a.

The provision of a local director includes the issuance of a notarized and apostilled General Power of Attorney and application for a Tax Residence Certificate, if required

Nominee Services

  • Nominee Shareholder – USD 2,000.00 p.a., including a Deed of Trust to assign beneficial interest to the ultimate beneficial owner

Cyprus Company Annual Fees – USD 2,100.00 (payable one year after incorporation and annually thereafter)

  • Providing Registered Office Services, including Registered Address, for one year
  • Providing Cyprus Resident Secretary and Secretarial Services for one year
  • ROC Annual Fees
  • Preparing and Filing the Annual Return
  • Annual Levy (EUR 380, payable on June)

Annual Accounting, Audit and Tax Services (Optional)

  • Accounting Services (setting up the company general ledger and Trial Balance and preparation of Financial Statements) – USD 880.00 per annum
  • filing Quarterly VAT returns with the VAT Authority – USD 275.00 per quarter (if applicable, on an ongoing basis)
  • auditing of annual accounts and preparing and submitting annual tax return – USD 1,650.00 per annum, starting one year after incorporation

Other Services (Optional)

  • Physical Office and Internet and Utility Services for verification of operating address purposes
  • Employment Permits for non-EU citizens
  • Establishment of Trusts, and provision of Trustee Services
  • CySEC licensing and registration of Investment Firms (CIS) and Investment Funds
  • Central Bank of Cyprus licensing of Payment Institutions and Electronic Money Institutions

Please, contact us for further information.

Bank Accounts

SKU: INC-KN-001-3-1 Category:
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