Cyprus Company Registration

Cyprus company formation cost usually begin with €1,200. But, it's worth mentioning, that the final price varies individually depending on factors such as the type of business activity, company size, and company type and others. Moreover, yearly ongoing costs should not be loose sight of, such as taxes, accounting services, office rent and such.

Yes, there are no residency restrictions for shareholders. But please note that a company should have at least one director who is a resident of Cyprus. This need is connected with the fact that, in accordance with the Cypriot Law, management and control of an entity are to be exercised in Cyprus in order for the company to be a tax resident of Cyprus. Being a tax resident allows the company to benefit from favourable tax regime.

The registration process is quite straightforward. First, you will have to reserve your company name. So, that's what you do next is ready all that paperwork, and you submit it for company registration. The majority of times, name reservation and registration applications can be done from a distance, via government services online.

But you should also not forget the need to get registered with the tax authorities of Cyprus, once the company incorporation processes are over.

Cyprus has a lot to offer to entrepreneurs - business-friendly surroundings and a favourable tax system. If you make sure you follow local law, company registration and ongoing compliance is not complicated.

Requirements to open a bank account vary by bank. Additionally many companies can choose alternatives like online banks or Electronic Money Institutions (EMIs) instead of traditional banks.

There is no minimum share capital requirement for a Private Limited Company, whereas the minimum share capital for a public company is €25,629.

In Cyprus, an MSA and employment contract are both suitable forms of engagement, and the decision would be based on the particular facts of the case. The type of work, the amount of control the business has and the duration of the project, need to be taken into account.

Both formats are acceptable however they have distinct legal, tax and commercial implications. So, that's something you will need to talk to a specialist about before choosing. We can assist you to consider your particular circumstances and choose the best solution.

Any legal person registered in the Republic of Cyprus who has made taxable supplies of goods and services in the past twelve consecutive months, or expects to exceed €15,600 in taxable supplies within the next thirty days, is required to submit a supplementary VAT registration form.

After registration, the individual or entity must file VAT returns quarterly (every three months).