General Information about Cyprus Company

October 30, 2016

Advantages of Cyprus Company Formation

Legislation

Principal Corporate Legislation
Companies Law, Cap 113, as amended.

Type of Law
Civil with many English Common Law influences.

Language of Legislation and Corporate Documents
English and Greek.

Cyprus Company

Type of Company for International Trade, Investment & Tax Planning
Cyprus Private Limited Company.

Share Capital
Standard authorised share capital is EUR 1,000. Minimum paid up share capital is EUR 1.

Classes of Share Available
Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares
Not permitted.

Restrictions on Trading
Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required
Each Cyprus company must have a Registered Office in Cyprus.

Secretary
Each Cyprus company must have a Secretary in Cyprus.

Directors
A Cyprus company requires a minimum of one director. Director can be of any nationality and need not be resident, but Cypriot advisable for purposes of tax residency Corporate directors are permitted.

Shareholders
A Cyprus company requires a minimum of one shareholder.

Publicly Accessible Records
Yes.

Nominee Shareholders and Nominee Directors
Allowed.

Location of Meetings of Directors and Shareholders
Anywhere, but Cyprus advisable for purposes of tax residency.

Personal Presence Required
No.

Taxation
The corporate tax rate is 12.5%.

VAT
A Cypriot company trading from Cyprus may be registered for VAT purposes and the VAT prefix will be ‘CY’.

Double Taxation Treaty Access
Azerbaijan, Armenia, Austria, Bulgaria, Belarus, Belgium, Canada, China, Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kuwait, Kyrgyzstan, Malta, Mauritius, Moldova, Norway, Poland, Romania, Russia, Singapore, Slovakia, Slovenia, South Africa, Sweden, Syria, Thailand, Ukraine, United Kingdom, USA, Uzbekistan.

Requirements to File Accounts
Yes.

Audit Requirements
Yes.

Currency
Euro.

Exchange Control
None.

Time required for Cyprus Company Formation
Two weeks, subject to name approval.

Name of a Company

Language of Name
English.

Restricted Words
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.

Name of a Cyprus Company
The name of each Cyprus company must end with the word “Limited” or “Ltd”.