Company Formation Cyprus

Our team provides the fastest company formation solutions in Cyprus.

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Empowering Your Financial Future

Company formation Cyprus: Open a company with ease.

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Fast Company formation: accelerated

Experience fast and efficient company formation in Cyprus with Create. Our streamlined process ensures quick turnaround times, allowing you to establish your business with ease and speed.

Company Formation in Cyprus made easy

We incorporated this service within our business because we were tired of clients complaining about 1-2 month process to form a company in Cyprus. Now we’re 39.20% faster than average company opening time. 

39.2

Faster

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Start company formation process today & enter the market!

Why create for company formation in Cyprus?

Create understands the urgency of opening a company in Cyprus within 2 weeks rather than 1-2 months. Due to our expertise in business & startup launches – we’ve helped clients incorporate their company as standard procedure. We’re now offering company formation in Cyprus as a stand-alone service due to large amount of requests.

  • Company formation within 10-days

  • Banking & Payment Processing Included

  • 30-Minute Business Consultation Included

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Types of
Companies in Cyprus

Name
Description

Private limited [LTD]

The private limited liability company is the most common business structure in Cyprus, typically founded by one or more partners, with a maximum of 50. Requirements include a local address and a secretary. Shareholders subscribe to shares, either monetary or non-monetary, each assigned a nominal value and are non-transferable. Members’ liability is limited to the nominal value of their shares, and there is no minimum required capital.

Public Limited

Entrepreneurs interested in establishing a public company limited by shares in Cyprus should note that this type of company operates similarly to a private company limited by shares. However, shares in a public company are freely transferable, and there is no restriction on the maximum number of partners. Additionally, a public company must have a minimum of 7 shareholders, and the minimum share capital required is 25,629 euros.

Cyprus partnership

Two types of partnerships are available for registration in Cyprus: general partnerships and limited partnerships. These partnerships are not considered separate legal entities from their owners. Both types require a minimum of two participants and a maximum of 20 participants.

Non-Profit

A non-profit organization in Cyprus is established to serve specific social, cultural, charitable, or other non-profit purposes. These organizations operate without the goal of making a profit for its members. To establish a non-profit organization in Cyprus, founders must adhere to specific legal requirements and regulations. Our team specializes in non-profit organization formation and can guide you through the process to ensure compliance and successful establishment.

Cyprus Company Formation Package

Our pricing package

We offer upfront pricing for LTD company formation in Cyprus. If you’re interested in other types please contact us.

Starter

Type: LTD

Save up to 45%

€1250

/ one-time

Featured include :
Choose the plan that best suits your business needs and start your journey to success with veloix.

Pro

Type: LTD

Save up to 26%

€2500

/ one-time

Extra’s include :

If you have any questions or need additional customization, feel free to contact our support team.

Launch Ready

Type: LTD

Save up to 33%

€7250

/ one-time

Extra’s include :

Choose the plan that best suits your business needs and start your journey to success with veloix.

Start Company Formation Process

The company formation process in Cyprus follows a simple and straightforward structure for all business entities. This includes drafting the necessary documents, such as the articles of association, and providing required information such as signatures, passport copies, and other relevant forms for the incorporation of a Cypriot company.

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Company Formation Process in Cyprus

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  • Pick Company Type

    Select the most suitable company type for your business needs, whether it's a private limited liability company, public company limited by shares, partnership, or non-profit organization

  • Choose registered address & officers

    Choose a registered address for your company and appoint directors, secretaries, and other officers as required by law.

  • Prepare Company Opening Documents

    Prepare all necessary registration documents, including the Memorandum and Articles of Association, and ensure they comply with Cyprus company law requirements.

  • Company Tax Registration

    Complete tax registration by obtaining a Tax Identification Number (TIN), registering for Value Added Tax (VAT) if required, and registering for social security purposes with the tax authorities.

  • Obtain Operational License

    Obtain any necessary operating licenses or authorizations required for your business activities in Cyprus.

Banking Setup in Cyprus

Our partners XPro Card can provide you with super fast banking setup.

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Manage your company finances online

Track where your money goes and make informed financial decisions.

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Key Facts of incorporating in Cyprus

  • Cyprus has one of the lowest corporate tax rates in Europe: 12.5%.

  • The standard VAT rate is 19%, reduced rates of 8% and 5%.

  • Foreign investors can establish holding companies in Cyprus, providing one of the most effective tax minimization solutions available in the country.

  • The minimum share capital requirement for a Private Limited Company (LTD) in Cyprus is one share with a nominal value of €1.

  • A Limited Company (LTD) in Cyprus can be formed with a minimum of one shareholder.

  • In Cyprus, the dividend tax rate is 0%, offering favourable conditions for investors.

  • There is a 0% tax rate on profits generated by permanent establishments abroad, including hotels, casinos, restaurants, factories, and other businesses.

  • The minimum number of directors required for a private company is one, while for a public corporation, it is two.

Time Frame: 10-14 Days

Company Formation info

Here you can find valuable information about the company formation process in Cyprus, including steps, costs, and requirements.

Both local and foreign investors interested in establishing companies in Cyprus must prepare the following documents and submit the following information to the Trade Register:

  • Name application for approval of name
  • HE1 Form stamped at the Court
  • HE2 form – declaration of Registered address
  • HE3 Form – declaration of Director and Secretary
  • Memorandum and Articles of Association signed by Shareholder and Lawyer

Our experts in company formation in Cyprus can assist you with the preparation of the Memorandum and Articles of Association, ensuring a smooth and efficient registration process.

Off-shore Company Formation

Offshore companies in Cyprus are subject to the same incorporation procedures and taxes as regular Cyprus companies. However, they offer several advantages, including:

  • Reduced tax rates, benefiting from one of the lowest corporate taxes in Europe
  • Ability to be established as a holding company, primarily for the control of assets in other Cypriot companies
  • Enhanced privacy protection for shareholders

Our incorporation advisors in Cyprus can assist foreign investors in setting up offshore companies in the country.

Company Formation Steps in Cyprus

Cypriot private companies limited by shares are required to have a registered office in Cyprus and are managed by a management board. Foreign investors must appoint a specialised local agent to handle the company formation process in Cyprus. However, it is necessary for investors to be present in person to open a bank account, sign required documents, and provide registration certificates and identification documents of the managers.

VAT registration is compulsory only for companies engaged in activities subject to Value Added Tax, such as trading. If you need to register your company for VAT, our specialists in company registration in Cyprus can assist you.

Regardless of the chosen business form, the following steps must be completed for the incorporation of a company in Cyprus:

  • Choosing and reserving a unique company name with the Companies Register
  • Preparation and notarisation of the company’s statutory documents, including the Articles of Association
  • Filing all required documents and information with the Trade Register to obtain approval and the company’s Certificate of Registration
  • Registering for taxation, obtaining a VAT number, and registering for social security purposes with the tax authorities
  • Applying for any necessary special licenses or authorisations based on the industry in which the Cypriot business will operate.

Investors looking to establish a business in Cyprus can receive specialised assistance from our team of incorporation agents.

Costs Associated with Starting a Business in Cyprus

One of the primary considerations for company registration in Cyprus is the associated setup costs. It’s important to note that the costs of registering a company depend on its type and the industry in which it will operate. The following procedures should be considered when discussing the costs related to opening a company in Cyprus:

  • The company name reservation is completed with the Trade Register and is subject to a fee of approximately 30 euros.
  • The costs related to the drafting and notarisation of incorporation documents will depend on the public notary.
  • The future business owner must also take into account the company registration fee.
  • There are no costs related to tax, VAT, and social security registration.

The costs of forming a business in Cyprus typically include:

  • The company registration fee imposed by the Cyprus Companies Registrar is 650 EUR.
  • The registered address, set at approximately 350 EUR per year with us, represents one of the most cost-effective and expedited solutions for a registered office in the country.
  • While the minimum share capital of a private limited liability company in Cyprus is set at 1 EUR, the investor chooses the necessary amount of capital for the business.
  • The company registration cost with our local specialists is around 1,250 EUR, one of the lowest setup fees in Cyprus.
  • Accounting fees imposed by our local accountants start at around 100 EUR/month and depend on the services required by clients.

Businessmen interested in starting a business in Cyprus should also consider the costs related to opening a corporate bank account, which will vary depending on the bank and the services attached to the account.

How long does it take to register a company in Cyprus?

The time required to register a company in Cyprus can be divided as follows:

  • 4-5 days for company name approval
  • 1 or 2 days for preparing the company’s statutory documents
  • 5 working days for filing and reviewing the company’s incorporation documents with the Trade Register
  • 2 working days for tax registration
  • Approximately 1 week for social security registration

One of the main advantages is that all paperwork can be filed electronically with the Cyprus Trade Register, streamlining the registration process.

Tax and VAT Registration When Opening a Business in Cyprus

The tax registration procedure is an integral part of the business opening process in Cyprus and is completed alongside the company incorporation process. The tax identification number is issued concurrently with the Certificate of Registration. However, VAT registration must be completed separately, as it is not mandatory.

VAT registration becomes mandatory when a company involved in distance sales in Cyprus reaches the 35,000 euros distance selling threshold. Additionally, based on the VAT number, companies engaged in trading activities within the EU can obtain EORI numbers to facilitate trading procedures.

Our company formation experts in Cyprus can provide detailed information about the procedures for obtaining VAT and EORI numbers. We can also assist you with these important steps when starting a business in Cyprus.

A quick guide to Hiring Personnel in Cyprus:

One of the key advantages of owning a company in Cyprus is access to a highly educated and mostly English-speaking workforce.

The minimum working age is 15 years old.

Personnel can be recruited through numerous employment agencies. Additionally, the Cyprus Human Resource Management Association and the Cyprus Chamber of Commerce and Industry (KEBE) can provide valuable information regarding hiring personnel.

Employment contracts can be for a fixed or indefinite period and must include details such as the company’s location, job description, start and end dates, salary, and other benefits. Collective agreements, typically lasting for two years, can also be signed.

Employers have the option to hire personnel for part-time, fixed-term, or remote work. Working hours cannot exceed 48 hours per week, with a minimum rest period of 11 hours within a 24-hour period.

Employees are entitled to various benefits, including sickness benefits for up to 156 days, unemployment benefits for up to 156 days, and maternity allowance for 18 months.

Before hiring foreign staff, companies in Cyprus must fulfill certain conditions: the company must be listed on the stock market, direct shareholders must be registered with the Immigration Control Board and the Civil Registration Board, capital sources must be transparent, the company must have an administrative office located in an appropriate district, and financial stability must be proven through annual balance sheets.

Foreign employees must obtain a residence permit before being hired. To do so, they must submit the following documents to the Immigration Department at the local police:

  • A fee for the permit
  • A CV
  • Passport
  • Medical certificate and insurance
  • Criminal record
  • Employment contract (including duration and salary)
  • Bank guarantee and two completed specific forms

All EU citizens must register for taxes at the Department of Inland Revenue to receive a taxpayer identification code. Any labor disputes are regulated by the Industrial Relations Code, with strikes typically mediated by the Ministry of Labor.

The Share Capital of a Cyprus Company

One of the initial considerations for a businessman planning to open a business in Cyprus is the share capital, which may be mandated by the Company Law for certain types of structures or estimated for other business forms.

For instance, in the case of a private limited liability company, there are no minimum share capital requirements. However, investors must estimate the amount of money to be deposited as share capital for the business. For public companies, the minimum share capital requirement is 25,629 euros.

It’s important to note that a small percentage of the share capital must be paid as a registration fee to the Companies House in Cyprus.

What are the main attractions for foreign investors in Cyprus?

Cyprus offers numerous advantages for investors, particularly in the transportation sector. For example, profits from the operations of Cypriot vessels are not taxable, and dividends of companies that own ships are exempt from tax.

With excellent infrastructure, including two international airports, three shipping ports (in Limassol, Larnaca, and Vasilikos), and a modern road network, Cyprus facilitates the export and import of goods.

International and multinational companies, as well as banks, operate in Cyprus, attracted by low operating costs, economic freedom, and well-trained local companies ready to provide counsel if necessary. The island’s pleasant weather, rich culture, and Mediterranean cuisine attract tourists year-round.

For legal services in other European countries, such as opening firms in Malta or forming companies in Switzerland, please contact our partners in these countries for the best legal advice and personalised consultancy.

Open a Cyprus company

From anywhere

Our
Mission

To empower businesses with cutting-edge technological solutions, driving their growth and contributing to a smarter, more connected world.

Our
Vision

Be a catalyst for change in the technological realm, setting new standards of excellence and innovation in the services we offer.

Secure Your Company Formation Services

Secure your company formation services with Create Cyprus, your reliable partner for establishing your business in Cyprus efficiently and effectively.

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FREQUENTLY ASKED QUESTIONS

Explore our comprehensive FAQ section to find answers to a wide range of questions and gain a deeper understanding of company formation srvices in Cyprus.

Do you have Shelf-Companies available?

Yes, shelf companies, also known as ready-made companies or aged companies, are readily available in Cyprus. These are pre-registered companies that have been already incorporated but have not commenced any business activities. They offer a convenient option for investors looking to start their business operations quickly without going through the entire company formation process. Shelf companies in Cyprus are fully compliant with local regulations and can be transferred to new owners almost immediately, allowing for swift business setup.

Can a foreigner open a company in Cyprus?

Yes, Cyprus welcomes foreign investors in various business fields. The legislation for investments allows foreigners to open the same types of legal entities as national investors.

What types of companies can be incorporated in Cyprus?

 

The types of companies in Cyprus include private and public limited companies, partnerships, sole proprietorships, or branches of foreign companies. Our Cypriot company formation experts can help you understand the particularities of each business type.

Does the company need to have an office in Cyprus?

 

Yes, a local registered office is needed for a company incorporated in Cyprus. The incorporation documents must be kept at this address. Our specialists in company formation in Cyprus can offer businessmen special virtual office packages that include a local address.

What are the steps for company registration in Cyprus?

The steps include choosing the right type of company and an available business name, drawing up the company documents, and submitting them to the Cypriot Trade Register. After the company is registered, the business owner can start applying for other permits and licenses and register the company for VAT purposes.

What is the minimum share capital in Cyprus?

There are no mandatory requirements for a minimum share capital for a private limited liability company. Our experts in company registration in Cyprus recommend depositing an initial capital for your company of approximately 1,000 EUR. A public limited liability company requires a minimum share capital of no less than 25,629 EUR.

What are the requirements for opening a bank account in Cyprus?

Banks in Cyprus generally require the company to present its incorporation documents. These documents typically include the Certificate of Incorporation, the Memorandum and Articles of Association, and a resolution authorising the opening of the bank account. Additionally, banks may require identification documents for the company’s directors and shareholders, as well as proof of the company’s registered address. A bank account can be opened at any bank in Cyprus, and our company formation experts can assist you throughout the process.

Do you need special permits and licenses in Cyprus?

Yes, special permits and licenses are needed for certain activities in Cyprus. Depending on the nature of your business, you may require specific permits or licenses from government authorities. These could include licenses for activities such as trading, manufacturing, construction, or providing professional services. Our team can help you determine which permits and licenses are required for your business and assist you with the application process.

What are the taxes for companies in Cyprus?

Cyprus has a favorable tax regime for businesses, with a corporate income tax rate of 12.5%. Dividends paid by Cypriot companies are generally not subject to tax, making Cyprus an attractive location for holding and investment companies. Additionally, there is no withholding tax on dividends paid to non-resident shareholders. Other taxes in Cyprus may include capital duty, social security contributions, stamp duty, transfer tax, and real property tax. Our specialists in company formation in Cyprus can help you understand and comply with the taxation rules applicable to your business.

What are the reasons to invest in Cyprus?

Cyprus offers a range of benefits for investors looking to establish or expand their business operations. These include its strategic geographical location at the crossroads of Europe, Asia, and Africa, as well as its advanced infrastructure and modern business environment. Additionally, Cyprus has a favorable tax system, with a low corporate tax rate, no tax on dividends, and a wide network of double tax treaties. The country also boasts a sound legal and regulatory framework, with robust investor protection measures in place. Furthermore, Cyprus offers access to a skilled and multilingual workforce, as well as a high quality of life for employees and their families.

Is Cyprus a member of the European Union?

Yes, Cyprus has been a member of the European Union since 2004. As an EU member state, Cyprus benefits from access to the EU single market, allowing businesses based in Cyprus to trade freely with other EU member states. Additionally, Cyprus is part of the Eurozone, with the euro as its official currency. This provides businesses with stability and certainty when conducting transactions within the European Union.