Cyprus whilst being a full EU member and levying 10% Corporation tax on businesses located on the island also makes provisions for non-resident Cyprus companies that pay zero in taxation. Double taxation agreements vary from country to country but Dividends payable from a Cyprus company to a non-Cyprus resident are tax exempt. A Cyprus Company that takes advantage of tax treaties is classified as a resident company and therefore is liable to pay 10% Corporation Tax.
The officers and shareholders of a Cyprus Company are required to be recorded at Companies House and the annual return detailing any changes is required to be validated every year. For most companies, accounts are required to be prepared annually and filed at Companies House. A Resident Cyprus company is required to file audited accounts. A Corporate Director is permitted to be a director of a Cyprus company. Every Cyprus company must obtain a tax number. For most of our clients Keylink Consultancy provides a Corporate Company Director, Secretary and a Shareholder service (nominees) so that your name will not appear on any official record at Companies House, ensuring that your identity is protected. Records of the identity of the beneficial owners of a Cyprus Company remain confidential.
Local Cyprus company Corporation tax is 10%. Non-resident Cyprus companies are exempt from all corporate taxes including capital gains including profits from the sale of shares. Cyprus has tax trea-ties with Armenia, Austria, ,Austria - Final Protocol, Azerbaijan, Belarus, Belgium, Bulgaria, Canada, China, Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kurgystan, Kuwait, Lebanon, Malta, Mauritius, Moldova, Montenegro, Norway, Poland, Qatar, Ro-mania, Russian Federation, San Marino, Serbia, Seychelles, Singapore, Slo-vakia, Slovenia, South Africa, South Africa - Final Protocol, Sweden, Syria, Tajikistan, Thailand, Turkmenistan, Ukraine, United Kingdom, USSR, United States, Uzbekistan, Yugoslavia
Cyprus Company Law is based on English law under the 1948 Companies Act. Amendments made in 2003 to the Companies Law as part of the EU accession require Cyprus companies to file annual returns and accounts with the authorities .
Keylink Consultancy can carry out a quick name check for you and initiate incorporation the same day or next day. Normal Incorporation takes just one day.
Unlike most other on-line Formation Agents, Saveontax provides professional Nominee Corporate Director, Shareholder and Secretary Services. As an Associate of an International Accountancy Firm, we guarantee that your Cyprus Company will be properly formed and delivered to you, managed professionally and comply with local legislative requirements, for the price quoted. There may be aditional fees for VAT, accounting and audit which can vary.
Names may be expressed in Greek or any language using the Latin alphabet. The follow-ing words will be unacceptable: asset management, asset manager, assurance, bank, banking, broker, brokerage, capital, credit, currency, custodian, custody, dealer, dealing, deposit, derivative, exchange, fiduciary, finance, financial, fund, future, insurance, lend-ing, loan, lender, option, pension, portfolio, reserves, savings, security, stock, trust or trustees.
Have you considered forming a Gibraltar company where annual running costs are lower and there is no audit requirement and no VAT. More information about forming a Gibraltar Company
|Type of entity||Limited by Shares|
|Type of law||Common|
|Our time to establish a new company||5 days|
|Minimum government fees (excluding taxation)||Not applicable|
|Corporate Taxation||0% to 10%|
|Double taxation treaty access||No/Yes|
|SHARE CAPITAL OR EQUIVALENT|
|Local required||Yes for resident. No for Non Resident|
|Publicly accessible records||Yes|
|Location of meetings||Cyprus for resident. Anywhere for Non Resident|
|Publicly accessible records||Yes|
|Location of meetings||Anywhere|
|Local or qualified||No, but Cyprus advisable for residency and compliance|
|Requirement to prepare||Yes|
|Audit requirements||Yes for resident. No for Non Resident|
|Requirement to file accounts||Yes|
|Publicly accessible accounts||No|
|Requirement to file annual return||Yes|
|Change in domicile permitted|| No