February 10, 2025
Cyprus Company Establishment
Incorporating a Cyprus private limited liability company is a straightforward and efficient process. There are no minimum capital requirements, though it is common practice to set the initial capital at EUR 1,000, which generally covers incorporation fees. Shareholders and directors can be of any residency, with no restrictions on their nationality. However, for tax purposes, it is highly recommended that the majority of the board (or at least the board meetings) be based in Cyprus.
The company is permitted to engage in any activities outlined in its memorandum (founding document) and allowed by law and regulation. Certain activities may be regulated and require a license. Note that holding assets, including shares, properties, or yachts, is not considered a licensed activity.
If the company employs staff, it must register with social insurance and make monthly contributions. Both the employer and employee are required to contribute approximately 8.3% of the salary to social insurance, in addition to contributions to the General Healthcare System (around 2.6% for the employer and 2.9% for the employee).
Every company or legal entity incorporated in Cyprus is required to maintain up-to-date information on its beneficial owner(s) with the central registry of Ultimate Beneficial Owners (the “UBO Registry”).
The company must have a registered address in Cyprus. We can provide this service for an annual fee.
Once incorporated, the company is required to register with the tax authorities and obtain a tax identification number within 60 days of its incorporation. Directors are also obligated to maintain proper accounting records necessary for preparing financial statements. The company must prepare annual audited financial statements and file annual returns.
Benefits
- Full European Union member – option to carry out activities in any EU state
- One of the lowest corporate tax rates in Europe – a mere 12.5% on net income
- Low business arrangement costs
- A great number of treaties with other countries for the avoidance of double taxation
- Option to open an account in a European bank
- Option to set up the company and its bank account in one country
- Certificate of tax residency issued
- Legit jurisdiction (not considered as an offshore jurisdiction)
Our Services Include
- Incorporation of the company.
- Mandatory registration with the Tax Department.
- Registration with the Ultimate Beneficial Owners Registry.
- Provision of secretary services.
- Provision of a registered office address.
- Assistance with opening a local bank account.
Saint Lucia Establishment
- Set-up of the company, which includes registration with the RoC;
- Sourcing a registered office for the Company;
- Sourcing a registered agent for the Company;
- Certification of incorporation documents;
- Obtaining a legal opinion for the performance of the Company’s activities;
- Provision of nominee services (director/shareholder), if requested;
- Provision of physical office, if requested.
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