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 assist you in opening a bank account for the Company in Cyprus.

  • Cyprus Bank Account - USD $ 1,200.00
    Cyprus Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Astro Bank
    N/A
    Yes
    Multicurrency
    Yes
    Bank of Cyprus
    N/A
    No
    Multicurrency
    Yes
    Cyprus Development Bank
    N/A
    Yes
    Multicurrency
    Yes
    RCB Bank
    N/A
    Yes
    multi
    No
    Alpha Bank
    N/A
    Yes
    Multicurrency
    No
    Hellenic Bank
    N/A
    Yes
    Multicurrency
    Yes

Note that we can also open overseas bank accounts for Cyprus companies in the following offshore jurisdictions:

  • Antigua Bank Account - USD $ 300.00
    Antigua Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Global Bank of Commerce
    USD 25,000
    Yes
    USD, EUR, GBP
    Yes
    DBank
    USD 10,000
    Yes
    USD, EUR
    Yes
    North International Bank
    USD 5,000
    Yes
    USD, EUR
    Yes
  • Bahamas Bank Account - USD $ 500.00
    Bahamas Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Deltec
    USD 1,000,000
    No
    Multicurrency
    Yes
    EFG Bank
    USD 1,000,000
    No
    Multicurrency
    Yes
    Capital Union Bank
    USD 1,000,000
    No
    USD
    Yes
    High Turnover Individuals, Family Offices, Fund Managers and Asset Managers only
  • Belize Bank Account - USD $ 300.00
    Belize Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Caye Bank
    USD 1,000
    Yes
    USD, EUR, GBP, CAD, CHF, AUD, AED, CNY, SEK, NOK
    Yes
    Heritage Bank
    USD 3,000
    Yes
    Multicurrency
    Yes
    Belize Bank International
    USD 4,000
    No
    EUR, GBP, USD
    Yes
  • BVI Bank Account - USD $ 900.00
    BVI Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    VP Bank
    USD 250,000
    No
    Multicurrency
    Yes
    Bank of Asia
    USD 20,000
    No
    USD, GBP, HKD
    Yes
  • Cayman Islands Bank Account - USD $ 700.00
    Cayman Islands Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Cayman National Bank
    USD 100,000
    Yes
    USD, EUR, GBP, CAD, AUD, JPY, SEK, CHF
    Yes
    NCB Cayman Limited
    USD 100,000
    Yes
    USD, EUR, CAD, GBP
    Yes
  • Cook Islands Bank Account - USD $ 600.00
    Cook Islands Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Capital Security Bank
    USD 20,000
    Yes
    USD, EUR, GBP, CAD, NZD, AUD, SGD, HKD
    Yes
    Clients can have a corporate account for operational purposes only if they open an investment account as well.
  • Curaçao Bank Account - USD $ 500.00
    Curaçao Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Exprinter International Bank N.V.
    USD 100,000
    Yes
    Multicurrency
    Yes
  • Dominica Bank Account - USD $ 300.00
    Dominica Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    EqiBank
    USD 15,000
    Yes
    USD, EUR, GBP
    Yes
    Kingdom Bank
    N/A
    No
    EUR, USD
    Yes
    SWIFT transactions are carried out only through a pool account in the name of the bank.
  • EMI Bank Account - USD $ 300.00
    EMI Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    UK EMI Account
    N/A
    No
    EUR, GBP
    Yes
    LT EMI Account
    N/A
    No
    Multicurrency
    Yes
    MT EMI Account
    N/A
    No
    EUR
    Yes
    CA EMI Account
    N/A
    No
    EUR
    Yes
    KZ EMI Account
    Depending on category.
    No
    Multicurrency
    Yes
    HK EMI Account
    N/A
    No
    USD, EUR, GBP, HKD
    Yes
    Currently, the Neat account is available for businesses incorporated in Hong Kong, Australia, BVI, Cayman Islands and New Zealand only.
    IE EMI Account
    N/A
    No
    EUR, Multicurrency
    Yes
    Singapore EMI Account
    N/A
    Yes
    SGD, USD
    Yes
    Only companies incorporated in APAC jurisdictions.
  • Gibraltar Bank Account - USD $ 1,200.00
    Gibraltar Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Turicum Private Bank
    USD 200,000
    No
    USD, EUR, GBP
    Yes
    Moneycorp Bank Limited
    case-by-case
    No
    Multicurrency
    Yes
  • Hong Kong Bank Account - USD $ 2,000.00
    Hong Kong Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    DBS Bank
    HKD 200,000
    Yes
    HKD, USD, Multicurrency
    Yes
    A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.
  • Isle of Man Bank Account - USD $ 1,200.00
    Isle of Man Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Capital International Bank
    N/A
    No
    USD, EUR, GBP
    Yes
  • Labuan Bank Account - USD $ 500.00
    Labuan Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Bank Islam
    USD 10,000
    No
    USD, JPY, SGD, EUR, GBP
    Yes
    MayBank International Labuan Branch
    USD 25,000
    No
    USD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AED
    Yes
    Citibank
    USD 250,000
    No
    Multicurrency
    Yes
  • Liechtenstein Bank Account - USD $ 1,200.00
    Liechtenstein Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Alpinum
    CHF 250,000
    No
    Multicurrency
    Yes
    Companies conducting commercial activities (as opposed to only holding assets) must have a physical presence in the form of offices and employees in the country where it is incorporated or tax resident.
    Bendura Bank
    USD 500,000
    No
    Multicurrency
    Yes
  • Luxembourg Bank Account - USD $ 1,200.00
    Luxembourg Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    East West United Bank
    N/A
    Yes
    USD, EUR, GBP, RUB, CHF
    Yes
    Companies conducting commercial activities are expected to conduct at least 30 incoming / outgoing transactions per month.
  • Mauritius Bank Account - USD $ 600.00
    Mauritius Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Bank One
    USD 25,000
    Yes
    Multicurrency
    Yes
    Companies must have some form of business connection to Africa in the form of clients, suppliers or investments.
    Investec
    USD 50,000
    Yes
    Multicurrency
    Yes
  • Panama Bank Account - USD $ 1,200.00
    Panama Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    MMG Bank
    USD 10,000
    Yes
    USD, EUR, CHF, GBP, CAD
    Yes
    Credicorp
    USD 50,000
    Yes
    USD, EUR
    Yes
    Capital Bank
    USD 20,000
    Yes
    USD
    Yes
  • Puerto Rico Bank Account - USD $ 300.00
    Puerto Rico Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    FV Bank
    Case by case
    Yes
    USD
    Yes
    Strategic Bank
    USD 100,000
    No
    USD
    Yes
    Arival Bank
    N/A
    No
    USD
    Yes
    CB International Bank LLC
    N/A
    No
    Multicurrency
    Yes
  • Saint Lucia Bank Account - USD $ 300.00
    Saint Lucia Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    PROVEN BANK (Former BOSLIL)
    USD 5,000
    Yes
    USD, EUR, GBP, HKD
    Yes
  • Seychelles Bank Account - USD $ 500.00
    Seychelles Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Al Salam
    USD 25,000
    Yes
    USD
    Yes
  • Singapore Bank Account - USD $ 900.00
    Singapore Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    OCBC Bank
    USD 30,000
    Yes
    USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    RHB
    SGD/USD 30,000
    No
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    DBS Bank
    SGD 250,000
    Yes
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    UOB Bank
    SGD 350,000
    Yes
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    Credit Suisse
    USD 3,000,000
    No
    USD, SGD
    Yes
    Bank of China
    SGD 100,000
    No
    USD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CAD
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
  • Switzerland Bank Account - USD $ 1,200.00
    Switzerland Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Maerki Baumann
    CHF 500,000
    Yes
    Multicurrency
    Yes
    CIM Banque
    USD 10,000
    Yes
    Multicurrency
    Yes
    Companies must have a business presence in the country where they are incorporated or tax resident in the form of offices and/or employees.
    mbaer
    CHF 5,000
    No
    Multicurrency
    Yes
    Companies must have an expected turnover of at least CHF 3,000,000
    Sygnum
    CHF 3,000,000
    No
    Multicurrency
    Yes
    Deposit must be maintained in crypto assets held through the bank's custody services.
    Credit Suisse
    CHF 1,000,000
    Yes
    Multicurrency
    Yes
  • USA Bank Account - USD $ 1,400.00
    USA Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    USA Bank Account
    N/A (USD 250,000 preferred)
    No
    USD
    Yes
    USA Bank Account
    Typically USD 25,000 - USD 50,000, for high right 500,000
    Yes
    USD
    Yes
    At least one US based signatory is required. Purpose to open an account in US is required.
  • Vanuatu Bank Account - USD $ 500.00
    Vanuatu Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Pacific Private Bank
    USD 1,500
    No
    EUR, GBP, USD
    Yes
    Outgoing USD transactions cannot be facilitated.

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 1,200.00 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 in June)

Annual Accounting, Audit and Tax Services (Optional, Starting Prices)

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