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Cyprus offers a favorable corporate environment with a low corporate tax rate of 12.5%, no taxation on dividends, and no capital gains tax on certain profits, making it an attractive destination for various businesses, including technology and software companies.
There are many reasons why Cyprus corporate entities are such popular corporate vehicles.
And of course, a Cyprus Company offers many more benefits that could make it a perfect fit for your business, whether this is a holding company, an investment company, a trading company, a technology and software company and many more.
Step 1. Engage a Cyprus lawyer or licensed corporate service provider. Your professional advisors will assist you in structuring your company, drafting your Company’s Memorandum and Articles of Association, submit the incorporation documents with the Companies Registry and act as your local representative for your Cyprus Company.
Step 2. Submit an application to the Companies Registry for the company name you wish to incorporate. The name must be unique otherwise the Registrar of Companies will reject it. Here at Meridian, we hold an approved list of names ready to use, which can speed up the waiting period for registering your company. Check our list of the approved company names.
Step 3. Once your company name is approved, company incorporation documents are submitted to the Companies Registry. Registering a company in Cyprus is a simple and easy process, taking about 5 – 7 working days to complete. Shelf companies are also available.
Step 4. Following the company’s registration, the Cyprus Company should also be registered with the Cyprus Tax Authorities and obtain its Tax Identification Number.
Step 5. Once your company is registered with local tax authorities and you have a Tax Identification Number for your entity, you will then be able to open a bank account for your Cyprus Company, either with a banking institution in Cyprus or abroad.
Step 6. In case you need a VAT number for your business, the process takes just 3 – 5 days to complete and for your Cyprus Company to obtain a valid VAT number.
If you are curious as to whether you are eligible to register a company in Cyprus, the answer is any one can set up a company in Cyprus. There are no restrictions on residency for setting up a Cyprus Company - the world is welcome. Non residents can open a company in Cyprus and be 100% beneficial owners of the Company. You don’t have to live in Cyprus (or even visit the island) to set up and run your Cyprus Company.
Photo by Andrea Piacquadio
The main documents you would need to register your Cyprus Company are:
If for whatever reason you are not sure for any of the above or there is difficulty in obtaining any of the above documents, do get in touch with us and we might be able to provide alternative solutions.
Costs for setting up a company in Cyprus start at EUR 1,510 + VAT.
Get in touch with us today, for a free 30-minute consultation. Setting up a company in a foreign jurisdiction does not need to be complicated. Our business lawyers and tax consultants at Meridian Trust are here to provide you with clarity and simplicity.
We are Meridian Trust
Offshore Legal and Corporate Consultancy services in Cyprus. Our team of corporate lawyers, accountants and tax advisers has the experience, knowledge and contacts to help you set up your business in Cyprus. We advise on Company Formation, Tax and Tax Planning, Fintech and E-business, Intellectual Property and Investment & Banking. If you would like a free 30-minute consultation, pleasevisit this page.
Meridian Trust Corporate and Fiduciary Services Ltd
KALYMNOU 1, "Q MERITO", 4th Floor, Agios Nikolaos, Kamares 6037 Larnaca – Cyprus
+(357) 24 812 050, email info@meridian-trust.com
HAVE A QUESTION? Schedule here your free 30 minute consultation