• About Cyprus
• Company Formation
  Cyprus Company Formation Steps to Form a Company Company Tax Law
• Cyrpus for Expats
• Domicile and Tax Residency

1. Choose a Company Structure:
 
- Private Limited Company (Ltd): The most common type, suitable for small to medium-sized businesses.
- Public Limited Company (PLC): For larger businesses planning to trade shares on the stock exchange.
- Branch of a Foreign Company: For extending an existing foreign company into Cyprus.
- Partnership or Sole Proprietorship: Less common structures.
 
2. Company Name Reservation:
 
- Choose a unique company name and ensure it complies with naming regulations.
- The Registrar of Companies in Cyprus must approve the name.
 
3. Prepare Company Documents:
 
- Articles of Association (AoA): Defines the company's internal regulations.
- Memorandum of Association (MoA): Includes the company's name, objectives, and registered office address.
 
4. Shareholders and Directors:
 
- At least one shareholder (can be an individual or a legal entity).
- At least one director (individual), who must be a resident of Cyprus for tax purposes.
 
5. Registered Office:
 
- A physical address in Cyprus must be provided as the company's registered office.
 
6. Registration Process:
 
- Submit the necessary documents to the Cyprus Registrar of Companies.
- Pay the registration fees.
 
7. Tax Registration:
 
- Register with the Cyprus Tax Department to obtain a tax identification number (TIN).
 
8. Bank Account Opening:
 
- Open a corporate bank account in Cyprus to start operations.
 
Required Documents
 
- For Shareholders and Directors:
- Passport copies.
- Proof of address (e.g., utility bill).
- Curriculum vitae (CV).
- Bank reference letter.

- For the Company:
 
- Memorandum and Articles of Association.
- Certificate of Incorporation.
- Registered office address.

Costs and Timeline
 
- Costs: The costs involved include registration fees, legal fees for drafting documents, and the cost of a local director if needed.
- Timeline: The process typically takes about 2-4 weeks, depending on the efficiency of document preparation and processing.
 
Ongoing Compliance Requirements
 
- Annual Return: Must be filed with the Registrar of Companies.
- Annual Financial Statements: Must be prepared and filed with the Cyprus Tax Department.
- Annual General Meeting (AGM): Must be held annually.
 
Benefits of Cyprus as a Business Location
 
- Tax Advantages: Cyprus offers one of the lowest corporate tax rates in Europe (12.5%).
- EU Membership: Cyprus is a member of the European Union, allowing businesses to benefit from EU trade agreements.
- Strategic Location: Positioned at the crossroads of Europe, Asia, and Africa.
 
Forming a company in Cyprus can be advantageous due to its favorable tax regime, strategic location, and membership in the EU and requires careful planning. Due to the complicated nature of taxation, it is crucial that you understand the taxation criteria and how it will impact your plan as a whole.
 

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