Formation Cyprus Limited (Ltd)

The key features of a Cyprus Company Formation are:

• Fast Incorporation usually done within 48 hours
• The company only needs one Director, one Secretary and one Shareholder
• The Director and Shareholder do not need to reside in Cyprus
• There is no withholding tax on dividends paid to non-resident shareholders
• A visit to Cyprus is not required to form your company, everything will be done remotely
• The minimum share capital for a Cyprus incorporation is 1EURO and there is no maximum capital

Cyprus is an island country in the Eastern Mediterranean Sea. Cyprus is the third largest and third most popular island in the Mediterranean, and a member state of the European Union. It is located south of Turkey.

Thanks to its beneficial tax system, Cyprus is proving itself to be one of the most popular offshore jurisdictions for holding, trading and intermediary companies to conduct international business. Cyprus is an established and popular place to incorporate limited liability companies also known as LLC Companies, an LLC is a legal entity that is separate from the individuals who run it. Cyprus is a full member of the European Union with the lowest corporation tax rate within Europe.

To request a free consultation about your Cyprus company formation with our experienced team, please call us on +44 (0)7490489817 or email info@companies4u.org. Alternatively, use the live chat facility on our website.

What’s included

• Cyprus Company Formation
• Cyprus Government Registration Fees
• Registration with Cyprus Tax Office (TIC Number)
• Registered Office for 1 Year
• Registered Agent for 1 Year
• Certificate of Incorporation
• Provision of Memorandum and Articles of Association in Greek and Translation into English
• Certificate of Registered Office Address
• Certificates of Directors and Secretary
• Company Stamp

Offshore Bank Account

After forming your company you may wish to open an Offshore Business Bank Account. CFS International Formations have a close working relationship with a major bank in Cyprus.

The bank we have chosen to work with in Cyprus meet our high standards of confidentiality, and offers a wide range of banking services which we believe will best suit your requirements.

To apply for an offshore bank account in Cyprus, you will need to comply with the identification requirements. Like us, the bank must ensure they are complying with the authorities, as this will help to reduce the chances of money laundering.

Timescale

Once we have received all the required identification documents, the Cyprus company formation process will take approximately 5 working days.

Why form a company in Cyprus

As a member of the EU, Cyprus has quickly become a reliable, legitimate jurisdiction with some of the lowest tax rates in Europe. It is an ideal destination for many foreign investors. The business environment in Cyprus is sophisticated and there is a corporate income tax rate of only 12.5%. The Cyprus incorporation is a Limited Liability Company (LLC), designed to engage in international business.

The speed in which a Cyprus company can be formed makes it an attractive jurisdiction for potential business owners in need of a simple start-up – most Cyprus companies can be formed within 48 hours.

The company is only required to have one Director, one Shareholder and one Secretary. The officer’s information is not displayed on public records allowing the whole process to be completely confidential.

When incorporating a company in Cyprus, you are not required to visit Cyprus to do so. Everything can be done remotely.

The corporate structure of a Cyprus company formation is flexible. When it comes to a Cyprus company registration, there is no need for the owners to have any physical address in Cyprus - the only requirement is a registered agent with a registered office address.

Cyprus is not a dependency of Great Britain and the British Crown, nor is it a dependency of an EU member state. This means it has more freedom to make its own rules, particularly public filings and beneficial owner requirements.

Tax Information for a Cyprus Company Registration

Cyprus is a very good choice for holding and investment companies as they have double tax treaties with over 45 different countries.

Income tax rates vary from around 20% – 30%.

Using Cyprus for an Offshore Company Formation allows you to be free of income tax in the following areas:

• Interest received by individuals
• Dividends
• Profits from the sale of shares
• Income from employment services provided abroad to a non-resident
• 50% of interest income of companies
• Profits of permanent establishments carrying on a trade abroad

Company Name

Formal approval from the Company Registrar is required before a proposed company name can be used within a Cyprus company formation. When choosing a company name for a company incorporated in Cyprus, the name must be in English.

Names must be unique and not similar to any other name.

The company name may be in English or Greek. If the name is in Greek, this must be accompanied by an English translation.

The company name must end in LLC or LTD.

Directors, Shareholders and Secretary

The minimum number of directors within a Cyprus Company is one. The directors can be a natural person or a legal person or corporate entity. There are no restrictions on the nationality or residency of the director.

One shareholder is required for a Cyprus Company Registration. They may also be any nationality or residency. Unfortunately, corporate shareholders are not accepted.

Companies Incorporated in Cyprus require one secretary. For tax purposes, it is recommended that the secretary is based in Cyprus, however this is not a legal requirement. We do include a resident secretary in our package.

The director may also be the shareholder of the company. They can also be an employee of the company and be paid a monthly salary.

Share Capital

The Standard Share Capital for a Cyprus Company Registration is 100 shares worth one EURO.

The shares must be issued by the shareholder within the company.

Annual Requirements for a Cyprus Company Registration

A Cyprus Company must be renewed on a yearly basis with the registered agent and authorities in Cyprus. Renewing the company allows the company to stay in good standing.

If you choose to have nominee directors, shareholders or secretaries within your Cyprus Company then these services will need to be renewed on a yearly basis.

A Cyprus company formation does have annual filings.

All companies in Cyprus are required to submit annual returns 18 months after incorporation. After the first annual return the next will fall on the date of incorporation each year.

It is a legal requirement for a company incorporated in Cyprus to hold at least one annual shareholder meeting. The annual returns and balance sheets are approved during this meeting. The annual meeting can be held anywhere in the world.

Yearly Renewal £699.00

On a yearly basis, a Cyprus company must be renewed with the registered agent and authorities in Cyprus. By renewing your company this ensures that it is kept in good standing with the authorities in Cyprus, there are no other accounting requirements for a Cyprus company. Any nominee officers will require renewing on a yearly basis.

The price for a Cyprus yearly renewal is £699.00

The following is included in a Cyprus yearly renewal:

• Registered Agent
• Registered Office
• Government Registration Fees
• Nominee Secretary (if applicable)