Cyprus

The Republic of Cyprus is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean, a member of EU since 2004. Although Cyprus law is extensively codified, it is still heavily based on English Common Law in the sense that the fundamental principle of precedent applies.

Cyprus has been sought as international business center through which foreigners choose to conduct their business for its lowest income tax rates in the EU and other favorable tax provisions.

The official languages are Greek and Turkish and the currency is Euro (EUR).


Company Incorporation and local Requirements

Possible Name Endings

Limited,Ltd

Approved Company Names

Yes

Shelf Company

Yes

Minimum Share Capital

No minimum

Minimum Number of Shareholders

One (any nationality)

Nominee Physical Shareholders

Allowed

Nominee Corporate Shareholders

Allowed

Bearer Shares

No

Minimum Number of Directors

One

Physical Directors

Allowed

Corporate Directors

Allowed

Non-resident Directors

Optional but local directors are

advisable for purposes of tax residency

Registered office

Yes

Company Secretary

Yes


COMPANIES FEE SCHEDULE

 

Basic package

New company (Euro 1.000 Share Capital) – 2.000 Euro

Shelf company (less than six months old) – 2.500 Euro


Annual fees

Company Secretary – 300 Euro

Registered office (company or branch) – 300 Euro

Government Annual Levy – 350 Euro


Confidential package

Corporate shareholder (each) – 350 Euro or

Physical shareholder (each) – 1.250 Euro

Corporate director (each) – 500 Euro or

Physical director (each) – 1.750 Euro

Physical person representative in Greece – 400 Euro

Authorised person Cyprus branch – 600 Euro


COMPANY RELATED COSTS

Power of Attorney without notarisation – 150 Euro

Power of Attorney with notarisation – 175 Euro

Notarisation of documents – 150 Euro