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Cyprus Company Formation

Although Cyprus is not an offshore tax haven as such it offers an efficient and tax friendly business environment, when this is combined with a corporate income tax rate of just 10% Cyprus becomes a very attractive location in which to form an EU company.

In Cyprus the formation is not as straightforward as a company formation in locations such as the British Virgin Islands, Belize, Delaware or the Seychelles but the advantages of a Cypriot company are such that the additional cost and work can be worthwhile for many clients . There are several stages to consider when we set up the structure which are the actual company formation itself, the bank account opening, the final stage is the tax and VAT registration. In Cyprus there are also ongoing maintenance and compliance procedures for the the company. These consist of accounting, general bookeeping, taxation, auditing, administration, statutory books maintenance, nominee services etc.

ORCA have access to several firms of accountants who will quote a fixed fee for corporate compliance. This fixed fee arrangement avoids any nasty suprises at the end of each year because it can be agreed annually in advance. When we form the company we can arrange to send you a form which can be completed and faxed or emailed to our office. Once it is received we will forward it to our accountant who will respond with a flat fee quote for the work required to keep the company compliant throughout the year.
In summary the documentation which is required for the Formation of a Cyprus Limited Company is below.

   1. Photocopy of Passport(s) - or corporate legal documents if the Ultimate Beneficial Owner is a company - this applies to each Beneficial Owner
   2. Bank, accountants or solicitors reference for each beneficiary (please request an example of a bank reference from our office) and proof of address, examples are a bank statement, utility bill etc.
   3. Payment of our fees

Note on Cyprus Fees: Cyprus is very competitive when it comes to legal, financial and professional services compared to many other EU jurisdictions. This difference is often very evident in the case of unavoidable ongoing costs such as administration, accounting & tax compliance which are often 50% or more below Western European rates. An example where Cyprus scores well is against the UK. We have found that accounting costs in the UK can be 60% higher than in Cyprus and although a UK company costs under £100 to form the Corporation Tax rate is 22% as opposed to only 10% in Cyprus so all of these factors tend to make Cyprus an attractive choice for an EU company formation.


SPECIAL OFFER - We currently offer an all-inclusive package comprising company formation fee, bank account, VAT, tax registration and all disbursements as below at €1950.00

Completion of all documents required by the registry, appointment of directors and secretary, registering shareholders, establishing registered office, appointment of the auditors and accountants, attendance at court and drafting the Articles, agreeing the exact structuring and arranging all corporate documents in English. All post incorporation work such as arranging share certificates and preparing the register. Drafting the first minutes and arranging the tax and VAT registration. Setting up an account with a local bank in multicurrency format if needed and assisting with obtaining credit and debit cards if needed. In essence we get the company to the stage where it can beging trading.

PLEASE NOTE: Our fees also include the items below which many firms will confront you with as disbursements. We always quote with everything needed to avoid any unexpected charges.

We pay the invoices below on your behalf and then provide you with the original paid invoices.

   1. Law Society Stamp Duty Fee, Lawyer Fee and Court Costs: €100
   2. Courier Costs: €25
   3. Incorporation Capital Duty payable to the registry: €239.22 plus share capital duty 0.6%
   4. Fee paid to Registrar for isssuing initial certificates in Greek €187.98
   5. Fee to issue certificates of incorporation, registered office certificate and certificates of directors, secretary, shareholders etc. 

UK / Ireland020 7175 0041
(International +44 20 7175 0041)
US / Canada1 954 866 5986
(INTERNATIONAL +1 954 866 5986)
Australia and New Zealand+61 2 9191 7472
(INTERNATIONAL +61 2 9191 7472)
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