1. Can a foreigner open a company in Cyprus?
Yes. Cyprus welcomes foreign investors in various business fields. The legislation for investments allows foreigners to open the same types of legal entities as national investors.
2. What are the types of companies that can be incorporated in Cyprus?
The types of companies in Cyprus are: private and public limited companies, partnership, sole proprietorships or branches of foreign companies. Our Cypriot company formation experts can help you understand the particularities of each business type.
3. Does the company need to have an office in Cyprus?
Yes. A local registered office is needed for a company incorporated in Cyprus. The incorporation documents must be kept at this address. Our Cypriot company formation advisers can offer to businessmen special virtual office packages which include a local address.
4. What are the steps for company incorporation in Cyprus?
Choosing the right type of company and an available business name, drawing up the company documents and submitting them to the Cypriot Trade Register. After the company is registered, the business owner can start applying for other permits and licenses and register the company for VAT purposes.
5. What is the minimum share capital in Cyprus?
There are no mandatory requirements for a minimum share capital for a private limited liability company. Our company formation experts in Cyprus recommend that you do deposit an initial capital for your company of approximately 1,000 EUR. The public limited liability company required no less than 25,630 EUR as minimum share capital.
6. What are the requirements for opening a bank account in Cyprus?
Banks in Cyprus will generally require the company to present its incorporation documents. A bank account can be opened at any bank in Cyprus.
7. Do you need special permits and licenses in Cyprus?
Yes. Special permits and licenses are needed for some activities.
8. What are the taxes for companies in Cyprus?
Cyprus has a corporate income tax of 12.5%. Dividends have a taxation rate of 17% unless a double tax treaty applies. Other taxes in Cyprus include capital duty, social security contributions, stamp duty, transfer tax, real property tax. Our specialists in company formation in Cyprus can help you comply with the taxation rules available in this country.
9. How fast can you start a new business in Cyprus?
It taxes approximately 7 days to incorporate a company in Cyprus.
10. What are the reasons to invest in Cyprus?
A good geographical location and advanced infrastructure are why many import and export companies base their business in Cyprus. Moreover, the country has a good tax system, a sound legal and regulatory framework and qualified workforce.
Our company formation experts in Cyprus can help with detailed answers to the questions above and many other services for companies in Cyprus.