Cyprus, an EU member since 2004, sits in the eastern Mediterranean. Known for its flexible business setup, strong banking options, and skilled workforce, Cyprus stands as a top choice for global business.

Creating a company in Cyprus opens doors to EU markets, ideal for ventures like ecommerce, trade, and financial services. Cyprus excels in shipping, offering favorable conditions for shipping companies with its tonnage tax system. It’s also friendly towards blockchain and cryptocurrency businesses.

• Great for international businesses.
• 12.5% Corporate income tax on net profits.
• If you are a foreigner from countries that tax global income – you must declare all income to their tax authorities.
• Limited liability. The members of LLC liability is limited to their contributions, the shareholders are not liable for the company’s activities beyond the share capital.
• Fast registration.
• No local presence requirements.

Tax Rules:

• Cyprus boasts an exceptionally low corporate tax rate of 12.5%, making it highly competitive within the EU.
• The country has signed 63 double taxation agreements, simplifying tax management and dividend payouts.

Company Registration in Cyprus:

• Forming a company in Cyprus typically takes 1-7 business days, offering a streamlined and rapid process.
• Companies enjoy the flexibility of not immediately paying the entire share capital upon incorporation, allowing for deferred payment.

Regulatory Requirements:

• While not classified as an offshore haven, Cyprus requires companies to comply with local and EU regulations.
• Despite regulatory adherence, Cyprus maintains robust confidentiality for business transactions.
• Annual tax returns, reports, and audits are obligatory, irrespective of a company’s active engagement in business activities.

Great Business Environment:

• Cyprus secures the 54th spot globally for ease of doing business, as per the World Bank rankings.
• Renowned as one of the EU’s top countries for business, Cyprus offers diverse opportunities in finance, real estate, cryptocurrency, trade, and maritime sectors, making it an appealing destination for entrepreneurs and investors.

For individuals:

• Passport copy of all shareholders;
• Passport copy of all directors;
• Copy of a recent utility bill not older than three (3) months.

If shareholder is a legal person:

• Copy of company extract (visible shareholders, directors, beneficial owners).

DOCUMENTS REQUIRED FOR COMPANY IN CYPRUS BANK ACCOUNT

• Passport copy of all directors and shareholders.
• Utillity bill not older than 3 months.
• CV of the company management.
• Business plan.

Just get in touch with us to get more information about company formation in Cyprus and getting local legal partner for your company in Cyprus.