Company Registration in Cyprus

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  • 100% Foreign ownership 
  • End to end followed with      Government Authority 
  • No Local Sponsorship      required 
  • Yearly Compliance 

What is Company Registration in Cyprus?

Basically the company incorporation procedure in Cyprus is same for all business entities having a simple and straightforward structure.

Cyprus is considered as European Business Hub as it provides major benefits to the foreign investors such as low tax haven, a stable economy and a welcoming territory for any type of investments. 

In Cyprus, company incorporation procedure consists drafting of the articles of association and other required documents such as signatures, passport copies, forms etc.

It may also be required from the new owners to go to a local public notary and to find an office for their company and set up a bank account and Cypriot accountant may also be required.

TYPES OF COMPANIES 

  • In Cyprus, company can      either be public or private; it depends upon the types of shares and the      size of the company.
         For Private Limited Companies there is no requirement of minimum initial      capital. Whereas in case of public limited company, there is a requirement      of at least 15,000 EUR.
         Both types of companies can be established by one or more shareholders.
  • In Cyprus, Branch,      Subsidiary or Representative Office can either be formed separately      from the parent company or as an extension of it. Requirements of each      structure have to be met by the founders.

PRIVATE COMPANY LIMITED BY SHARES

  • In Cyprus, private company      limited by shares is the common type of company founded by one or more      partners but up to 50. 
  • The basic requirement is      that company must have a registered office in Cyprus and also a local      company secretary.
  • Under this, there is no      requirement of minimum capital. Shareholders subscribe shares which can be      monetary or non-monetary given nominal value and cannot be transferred. 
  • Members of this type of      company shall be liable for the company's debts and obligations only to      the extent of the nominal value of their shares. 

PUBLIC COMPANY LIMITED BY SHARES

  • Functions of a public      company limited by shares are as same as a private company limited by      shares except the fact that shares are freely transferable.
  • Under this, there is no      restriction regarding the maximum number of partners. 
  • There is a requirement of      minimum share capital of EUR 15,000.
  • In Cyprus, foreign company      is able to establish a Branch, Subsidiary or Representative Office. All of      these can be established as separate entities from the parent company      (Cypriot companies having the foreign company as shareholder) or      extensions of the parent company. 
  • To enter into a Cypriot      market, subsidiaries are a popular option.

PROCEDURE OF INCORPORATION 

  • In Cyprus, company      registration procedure can be performed by an authorized company      representative appointed by power of attorney.
  • There is a requirement for      Cypriot private companies limited by shares to have a registered office in      Cyprus and it is managed by a management board. 
  • However, it may be necessary      to come in person when the bank account is opened in order to sign papers      and provide the registration certificate with the identification documents      of the managers.
  • VAT registration is      mandatory but only for those companies which perform activities that are      subject to the Value Added Tax, such as trading.
  • After this, new company has      to hire employees. 
  • By collaborating with job      websites and recruitment agencies,recruitment process is not difficult,      especially when the workforce is so well-trained in Cyprus. 
  • In Cyprus, average monthly      salary is rather high and an employee earns approximately 1,800 EUR.

Doing Business in Cyprus

Doing Business in Cyprus