General Information

Type of Cyprus company available: 

International Business Company (IBC) 

This company can be used for many different purposes, and can be treated as:

  • Public Company 
  • Private Company
  • Company limited by guarantee
  • Company limited by shares

 

Capital requirement of a Cyprus company: 

There is no minimum capital requirement. The money for the company’s share capital does not have to be paid in a bank account of the company. In case the fees that are paid for the registration and set-up of the company exceed the share capital amount, this automatically means that the share capital has been paid. 

Restrictions upon the activities of a Cyprus company: 

Special permission is required for some types of services, including banking, insurance and financial services. 

Taxation of a Cyprus company: 

Cyprus maintains a competitive corporate tax rate of 12.5% which is one of the lowest among the EU countries Foreign sourced dividends are generally exempt from tax in Cyprus, when received by a Cypriot tax resident companies.

 

A Cyprus non-resident company: No taxation 

Non-Cyprus resident shareholders of a Cyprus company are not subject to any tax on dividend distributions by Cyprus IBCs. Resident shareholders are subject to additional tax on dividends of 17%. 

Double Tax Treaties between Cyprus & other countries: 

Cyprus has tax treaties with 52 countries, including the main Western European and North American countries and almost all Eastern European countries. The combination of low or no taxation with the benefits provided by its treaties with many countries make Cyprus a highly desirable location for international tax planning. 

Annual Tax Returns: 

Annual Tax Returns have to be submitted 

Annual Financial Reporting of a Cyprus company: 

Annual Financial Statements are required to be prepared and presented to members. A copy is filed with the Registrar of Companies, together with the Annual Returns. 

Registered Office & Registered Agent in Cyprus: 

Registered office in Cyprus: Yes, must be situated in Cyprus. 

Registered agent in Cyprus: Not required. 

Company Secretary in a Cyprus company: 

Yes. Can be of any nationality and residence and can be a physical person or a corporate entity. 

Directors in a Cyprus company: 

Minimum of one. Can be of any nationality and residence and can be a physical person or a corporate entity. 

Shareholders in a Cyprus company: 

Minimum of one 

Disclosure of Beneficial Ownership of a Cyprus company: 

There is no requirement to disclose the beneficial ownership to any Government Authority. It has to be disclosed, in confidence, to banks if a bank account is opened in Cyprus. 

Bearer shares in a Cyprus company: 

Not allowed 

Exchange controls in a Cyprus company: 

No. 

Language of corporate documentation in a Cyprus company: 

English is almost always acceptable. Sometimes though, it is necessary to prepare documents in Greek, however our experienced staff speak English, Greek and Russian and so we can prepare such documents on your behalf, we can also arrange to have copies of the corporate documents translated into the language of your choice. 

Time frame for incorporation: 

Approximately 7-10 days 

Shelf companies available in Cyprus: 

Yes, ask us for a list of the shelf companies that are currently available. 

Legislation for Money Laundering Prevention in Cyprus: 

Yes. 

Company Law in Cyprus: 

Companies Law, Cap.113. 

 The main body of the Law in Cyprus has been in force since 1952 and it was an exact copy of the Companies Act 1948 of the UK. Recently, in 2012 it has been amended to incorporate European Union directives. 

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