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Companies registration in Cyprus

Cyprus is the third largest island in the Mediterranean Sea, its area is 9251 square kilometers. It stretches 240 km from east to west and a maximum width is 100 km from north to south. Cyprus is situated in north-eastern Mediterranean at a distance of 380 km from Egypt, 105 km from Syria and 75 km from Turkey.

Cyprus is a member state of the European Union not an offshore jurisdiction where preferential taxation is not possible, therefore it is not “tax heaven”.

When registering a company in Cyprus is widely used nominal service that allows you to increase the level of confidentiality of information about the beneficial owners of the company.

 Cyprus companies are often referred to as offshore companies. But in fact they are not. However, the tax rate is quite low and depends on the activities of the company.

Type: resident company. The company’s name must contain "Limited".

Restrictions on activity: banking, insurance, reinsurance and asset management require a special license.

Share capital: there are no requirements for the minimum amount of authorized capital. Capital should be in Euros.

Shareholders and directors: a shareholder and  a director can be both physical and legal persons. There are no requirements for  the status of residence of the shareholder and director.

General Meeting: obligatory once a year, no additional requirements.

Accounting is compulsory, requires submission of audit reports.

There is statutory requirement for registering of directors, shareholders, secretaries. Registries (registration books) are public.

Taxes: 12.5% of income tax, VAT - 19%.

The tax rate on defense is 30% of income from interest and dividends.

The tax rate on defense is 30% of income from interest and dividends. Cyprus signed a double taxation treaty with 45 countries, including Austria, Belgium, Bulgaria, Canada, Czech Republic, China, Hungary, Germany, Greece, Denmark, Egypt, Kuwait, Ireland, Italy, Malta, Norway, Poland, Romania, Syria, the United Kingdom, USA, CIS (except Georgia).

There is no currency regulation and control.



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