Coat of arms of Cyprus

Offshore company formation in Cyprus


Cyprus company formation

Registering an offshore company in Cyprus has multiple benefits. Under the current tax legislation, Cyprus has the lowest tax regime in Europe and its role as an international financial center is greatly enhanced. There is no longer a differentiation in the tax treatment of local companies and International Business Companies as a single corporation tax rate is applicable for all companies.

How do I incorporate a Cyprus company?

Cyprus company formation

Company with management outside Cyprus – tax non-resident

The director of the company has to be a private person or company which are not a resident of Cyprus and the ownership (either private person or company) has to be foreign (outside of Cyprus). Business activity and source of income have to be outside of Cyprus, local borrowings to Cypriot companies are not allowed and all local payments must be registered and reported. Annual invoices and reports must be reported to the Central bank.

Company with management in Cyprus – tax resident

The director of the company has to be a private person or the company which is the resident of Cyprus, while the shareholder can be either domestic (Cypriot) or foreign (private person or company). A minimum of one director and one shareholder are required for company formation in Cyprus. We can offer you the service of a nominee director from Cyprus in order for your company to be a tax resident.
Cyprus company formation

What are the key features of the Cyprus tax & main advantages of having a company in Cyprus?


What are the steps to forming a Cyprus company?

In order to start the company opening procedure, please submit the following:

Opening an offshore bank account

We offer you the service of assisting in opening a bank account. For more information, please visit our Bank Accounts page.


Price List

The price depends on the type of service you want to use
Find out more about what we can do for you…


Frequently asked questions

The Republic of Cyprus is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean.

Cyprus is a presidential republic. The head of state and of the government is elected by a process of universal suffrage for a five-year term. Executive power is exercised by the government with legislative power vested in the House of Representatives whilst the Judiciary is independent of both the executive and the legislature.

The offshore regime in Cyprus has changed as part of the island’s accession to the EU, and as a result of agreements with the Organisation for Economic Cooperation and Development (OECD). Cyprus was excluded from the OECD’s June 2000 ‘harmful’ tax haven blacklist in return for pledging a commitment to amend its tax practices. In April 2009, Cyprus was placed on the OECD ‘white list’ of territories which have ‘substantially implemented’ the internationally agreed standard in tax transparency.

Cyprus has one of the lowest corporate tax regimes in Europe and has become a well-established, popular international financial center. Local companies and International Business Companies are taxed at the same corporation tax rate. Cyprus is a prestigious tax-incentive EU country and is free of the suspicions usually associated with “tax havens” which have zero tax.
A company incorporated in Cyprus is considered to be a tax resident of Cyprus if it is managed and controlled from Cyprus. A company to be managed and controlled from Cyprus is expected to have the majority of directors residing in Cyprus and holding Board Meetings in Cyprus. A company that is tax resident in Cyprus is taxed on worldwide income at the rate of 12.5% which is one of the lowest in Europe. Dividends distributed to non-resident shareholders of Cyprus Companies are not subject to any withholding taxes in Cyprus. Cyprus has concluded tax treaties with more than 53 countries worldwide. Apart from that a Cyprus company being an EU-based entity is entitled to the benefits of the EU Parent-Subsidiary Directive and the EU Interest and Royalty directives providing for withholding tax exemption for interest, dividends, and royalty payments made by companies in other EU-member states to a Cyprus company. A company incorporated in Cyprus is not considered to be a tax resident of Cyprus if it is not managed and controlled from Cyprus. A Cyprus company not managed and controlled from Cyprus is expected to have the majority of the directors residing outside Cyprus and holding Board Meetings outside Cyprus. Companies incorporated in Cyprus but not tax residents of Cyprus are not subject to taxation in Cyprus and are considered as Offshore Companies. A Cyprus non-resident company cannot take advantage of the Double Tax Treaties concluded by Cyprus, nor obtain a VAT number.
Nominee Service consists of Nominee Director and/or Nominee Shareholder. Both, resident and non-resident Nominee Directors and Shareholders are available in Cyprus.

According to the Companies Law in Cyprus (Cap.113), Cyprus Companies (active and/or dormant) have to prepare Financial Statements (accounting) on the basis of the International Financial Reporting Standards (IFRS) within 18 months of incorporation.

Cypriot companies are required to have their financial statements audited by registered auditors in Cyprus.

  • Memorandum and Articles of Association in the official Greek language (English-certified translations are prepared by our firm)

  • Certificate of incorporation

  • Certificate of registered office

  • Certificate of directors

  • Certificate of shareholders

Cyprus has legislation in place to protect the privacy of offshore bank account holders, the owners of Cyprus trusts and Cyprus International Business Companies. Cyprus offshore companies or International Business companies are also awarded privacy per the companies’ legislation of offshore Cyprus. Company’s legislation allows for the registration of Cyprus offshore companies beneficial owners need not be filed with the Registrar of Companies. Company legislation allows for the incorporation of companies using nominee shareholders and directors. The names of the beneficial owners will remain private.

A company name must be chosen and approved by the Registrar of Companies. Any name that is identical or similar to an existing company or implies illegal activity will not be approved.
For Cyprus IBC we can assist you with the bank account opening in Cyprus or internationally. The banks we cooperate with are reliable financial institutions with a long tradition in private and corporate banking. Our clients are provided with excellent customer service, online banking, Visa and/or Master cards, and other services, such as factoring, foreign exchange, savings, and specialized banking solutions.

What our clients say

Serving our clients—including corporations, private equity firms, government organizations—is a privilege.

Call us and we will start the process of opening a company today or schedule a consultation if you have any doubts


Send us a message