Offshore company formation in Cyprus
Cyprus company formation
How do I incorporate a Cyprus company?
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
What are the key features of the Cyprus tax & main advantages of having a company in Cyprus?
STEPS TO FORMING A COMPANY
What are the steps to forming a Cyprus company?
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.
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.
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.
What our clients say
Call us and we will start the process of opening a company today or schedule a consultation if you have any doubts