Serviced & Virtual Offices in Paphos, Cyprus.
Conference Rooms, Cyprus Company Formation, Corporate Services.
Tel. +357 7000 5705
info@yamaforoffices.com
Company Formation

Company Formation

Type of Cyprus company available:
International Business Company (IBC)
This company can be used for many different purposes, and can be treated as:

  • A Cyprus Trading Company
  • A Cyprus Holding Company
  • A Cyprus Investment Company
  • A Cyprus Consultancy company

Capital requirement of a Cyprus company:
There is no minimum capital requirement. The money for the company’s share capital does not have to be paid in a bank account of the company. For most companies we reccomend an issuance of 1000 shares @ 1 Euro each.

Restrictions upon the activities of a Cyprus company:
Special permission is required for some types of services, including banking, insurance and financial services.

Taxation of a Cyprus company:
Taxed at the rate of 12.5% on the net profits of an International Business Company.
No taxation on income from dividends if the shareholders live abroad or on disposal of securities unless the company owns immovable property.

Double Tax Treaties between Cyprus & other countries:
Cyprus has tax treaties with many countries, including the main Western European and North American countries and almost all Eastern European countries (see website section on International Tax Planning for a full list of countries). The combination of low or no taxation with the benefits provided by its treaties with many countries make Cyprus a highly desirable location for international tax planning.

Annual Tax Returns:
Annual Tax Returns have to be submitted

Annual Financial Reporting of a Cyprus company:
Annual Financial Statements are required to be prepared. A copy is filed with the Registrar of Companies, together with the Annual Returns.

Registered Office & Registered Agent in Cyprus:
Registered office in Cyprus: Yes, it must be situated in Cyprus.
Registered agent in Cyprus: Not required.

Company Secretary in a Cyprus company:
Yes. Can be of any nationality and residence and can be a physical person or a corporate entity.

Directors in a Cyprus company:
Minimum of one. Can be of any nationality and residence and can be a physical person or a corporate entity.

Shareholders in a Cyprus company:
Minimum of one

Disclosure of Beneficial Ownership of a Cyprus company:
There is a requirement to disclose the beneficial ownership to a Government Authority. It has to be disclosed, in confidence, to banks if a bank account is opened in Cyprus.

Bearer shares in a Cyprus company:
Not allowed

Exchange controls in a Cyprus company:
No.

Language of corporate documentation in a Cyprus company:
English is almost always acceptable. Sometimes though, it is necessary to prepare documents in Greek.

Time frame for incorporation:
7-10 days

Shelf companies available in Cyprus:
Yes, please contact us for details.

Legislation for Money Laundering Prevention in Cyprus:
Yes.

Company Law in Cyprus:
Companies Law, Cap.113.
The main body of the Law in Cyprus has been in force since 1952 and it was an exact copy of the Companies Act 1948 of the UK. Recently, it has been amended to incorporate European Union directives.