Cyprus Limited Liability Company (LLC) Formation
|Formation Package||1st Year||EUR 1,399||2nd Year||EUR 699|
- Name check and approval
- Filling incorporation documents with the Registrar of Companies
- Payment of government subscription tax on the authorized capital up to EUR 1,000
- Provision of registered office and registered address for one year
- Provision of company secretary for one year
- Registration with Cyprus Tax Department and obtaining a Cyprus tax number
- Certificate of Incorporation
- Certificate of Directors and Secretary
- Certificate of Registered Office
- Certificate of Shareholders
- Memorandum & Articles of Association in English & Greek
- Appointment of First Directors
- Share Certificate
- First Minutes
- Company Seal
- Courier Delivery
|Nominee and Management Services||EUR|
|Physical Person Director||800|
|Professional Management Services||4500|
|Physical Person Shareholder||400|
|Corporate Documents – Apostilled|
|Corporate Set of Documents||300|
|Special Power of Attorney||300|
|Certificate of Good Standing||200|
|Certificate of Incumbency||200|
|Hermes Bank||St. Lucia||399|
|Bank of Cyprus||Cyprus||399|
|Loyal Bank||St. Vincent||399|
Cyprus has been recognised across the world as offshore vehicles that can be successfully used in a variety of International Business, carry out commercial and industrial activities. Cyprus is a member of the European Union and member of the Eurozone.
A Cyprus company, is a limited liability company which conducts its trading and business outside the Cyprus and is intended for offshore activities. It takes up to 5 days to incorporate a company in the Cyprus.
The Directors of the company may be of any nationality and may reside anywhere. At least one director is required and there is no requirement to appoint a local resident director.
The Shareholders of the company may be of any nationality and may reside anywhere. At least one shareholder is required, this can be the same person as one of the directors. There is no upper limit to the number of shareholders and a shareholder can be a person or a corporation.
The standard share capital of a Cyprus IBC is €1,000. However, only one share of the share capital must be issued and paid up. Your company’s share capital can be issued in any currency.
Company Secretary / Registered Office / Registered Agent
The company must have a local secretary and registered office in Cyprus.
The details of the Shareholders and Directors of company do appear on public record are fully accessible by the public.
The company must maintain accounting records, however it does not have to keep records in the Cyprus. There is a requirement for audited financial statements and submit details of the directors and shareholders to companies’ house.
Corporation and other taxes
A Cypriot company is taxed on its worldwide income at a rate of 12.5%.
The VAT (sales tax) standard rate is at 19% of product located within the island or the EU.
In addition, there is an annual government levy of €350.
Why use a Cyprus Company.
Cyprus offshore companies are commonly used for
- Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title;
- Owner of the shares of other companies or legal entities;
- Owner of real estate and any other movable or immovable property or goods;
- Manager and promoter of international business transactions;
- Borrowing or lending money, paying or receiving commissions, or others;
- Access to EU market using the European Directives of Parent- Subsidiary, Interest and Royalties, Merger
- Owner of Intellectual Properties. This will enable the very attractive tax regime with a corporate tax of just 2.5%
- Ship ownership. Cyprus has one of the largest ship registry in the world and special tax environment based on tonnage.
- Substance requirement for trading companies looking to minimize the tax by establishing a physical office in Cyprus with operations at a very competitive pricing.
- Payment service provider used to transfer funds
- Electronic Money Licensing (E-Wallets)