Cyprus, officially the Republic of Cyprus,

is an island state in the eastern Mediterranean. It is the third largest and third most populous island in the Mediterranean, after Sicily and Sardinia. The island lies south of Turkey, west of Syria and Lebanon, northwest of Israel and Palestine, north of Egypt and southeast of Greece.

Fascination Cyprus

Cyprus is known for its Mediterranean lifestyle, characterized by warm weather, delicious cuisine and a relaxed way of life. The island offers a diverse landscape with breathtaking beaches, picturesque villages and historical sites dating back to ancient times. The capital Nicosia is the only divided capital in the world and offers a fascinating insight into the island’s recent history.

Due to its geographical location, Cyprus serves as a bridge between Europe, Asia and Africa. This makes the island not only an attractive place for tourists, but also a strategically important hub for trade and business activities. Membership of the European Union since 2004 brings additional benefits, including the use of the euro as the official currency.

Quality of life

In addition to its economic and geographical advantages, Cyprus also offers a high level of security and quality of life. The population is known for its hospitality and many people speak English, which makes the stay easier for foreigners. The health and education system meets high European standards, which also makes Cyprus an attractive place to live for families.

In summary, Cyprus is a fascinating place with a rich history, a strategic location and numerous opportunities for living and working. Whether for business people, investors or tourists – the island has something for everyone.

Cyprus is an island state in the eastern Mediterranean and has been a member of the European Union since May 1, 2004. The island has a strategically important location at the crossroads of Europe, Asia and Africa.

Memberships

• European Union: Cyprus has been a member of the EU since May 1, 2004.
• Schengen area: Cyprus is not a member of the Schengen area.
• NATO: Cyprus is not a member of NATO.

Facts & Figures

• Official language: The official languages are Greek and Turkish. However, English is widely spoken and frequently used in business and administrative circles.
• Capital: Nicosia (Nicosia), the last divided capital of Europe, which has both a Greek Cypriot and a Turkish Cypriot part.
• Form of government: Cyprus is a presidential republic. The president is both head of state and head of government.
• Population: Cyprus has around 1.24 million inhabitants (as of 2021).
• Gross domestic product: The GDP of Cyprus amounted to around USD 28.41 billion in 2021. This shows the economic development and prosperity of the island.
• Internet TLD: The top-level domain (TLD) of Cyprus is .cy.
• National currency: The euro (EUR) has been the official currency of Cyprus since January 1, 2008.
• Country code: The international dialling code for Cyprus is +357.
• Geography: The island has an area of around 9,251 square kilometers and offers a diverse landscape ranging from coastal regions to plains and mountain ranges. The highest point is Mount Olympus in the Troodos Mountains, which is 1,952 meters high.
• Climate: Cyprus enjoys a Mediterranean climate with hot, dry summers and mild, wet winters. This makes the island an attractive destination all year round.
• Culture and history: Cyprus has a rich cultural and historical heritage, ranging from ancient ruins and Byzantine churches to modern art galleries and festivals. Cypriot culture is strongly influenced by Greek, Turkish and British influences.
• Education and health: The education system in Cyprus is well developed, with numerous schools, colleges and universities. The healthcare system also meets high European standards and offers both public and private healthcare services.

These key facts provide a comprehensive overview of Cyprus and its importance both as a member of the European Union and as an independent nation with unique cultural and economic characteristics.

The tax system in Cyprus offers an attractive environment for companies and individuals who wish to benefit from the favorable tax rates and transparent tax policy. Here are the key figures of the tax system in Cyprus:

Personal income tax rate:

• The personal income tax rate varies from 0% to 35%, depending on income. Income up to 19,500 euros is tax-free. The tax rates then increase in several stages up to a maximum rate of 35% for income over EUR 60,000

Social security contributions:

• Employees pay 8.8% of their gross income as social security contributions.
• Employers also make a contribution of 8.8% of the employee’s gross salary.

Corporate income tax rate:

• The corporation tax rate for income from intellectual property (IP) is only 2.5%.
• The regular corporation tax rate is 12.5%. This is one of the lowest rates in the European Union and makes Cyprus an attractive location for companies.

withholding tax:

• There is no withholding tax on dividends (0%). This makes Cyprus particularly attractive for holding companies.

Value added tax (VAT):

• The regular VAT rate is 19%.
• A reduced rate of 9% applies to certain services, such as in the hotel and catering industry.
• A heavily discounted rate of 5% applies to basic goods and services, such as certain foods and medicines.
• A very strongly reduced rate of 3% applies in special cases, such as for medical equipment for disabled persons.

Capital gains tax:

• Profits from the sale of securities are tax-free, making Cyprus an attractive location for investments and capital gains.

Double taxation agreements:

• Cyprus has an extensive network of double taxation agreements (DTAs) with over 60 countries, including Germany. This helps to avoid double taxation and facilitates international trade and investment.

Simplified tax regulations:

• Cyprus offers transparent and business-friendly tax regulations. The administration is efficient, and there are special regulations and incentives for foreign investors and companies.

Real estate tax:

• There is no annual real estate tax on property ownership, which makes the purchase of real estate in Cyprus even more attractive.

These key figures make it clear why Cyprus is considered one of the most attractive locations in Europe for business people, investors and private individuals. The favorable tax system, combined with the benefits of EU membership, creates a positive environment for economic growth and personal development.

Cyprus is in a constant state of change and is adapting to global and European requirements. Here are some of the most important current developments:

Implementation of the EU regulation ATAD-3 (Anti-Tax Avoidance Directive):

Cyprus has implemented the Anti-Tax Avoidance Directive (ATAD-3) of the European Union. This regulation aims to combat aggressive tax planning practices and ensure that companies pay a fair share of taxes. The directive includes measures such as limiting the deductibility of interest, rules on add-back taxation, as well as measures against hybrid mismatches and the abuse of double taxation agreements.

Increase in the minimum wage to EUR 940 (gross):

The minimum wage for 38 hours/week (165 hours/month) in Cyprus was increased to EUR 940 gross. This measure aims to improve the standard of living of employees and reduce economic inequalities. It is a step towards supporting the workforce and promoting social cohesion.

Implementation of the EU regulation on the global minimum tax:

Cyprus has implemented the EU initiative to introduce a global minimum tax. This measure, which is part of a broader international tax reform package, is intended to ensure that multinational companies pay a minimum tax rate on their income, regardless of where it is generated. This will help to prevent profit shifting to low-tax countries and ensure fairer international tax competition.

Promotion of renewable energies:

Cyprus is investing more in renewable energies and is committed to a sustainable energy policy. The aim is to increase the share of renewable energies in total energy production and reduce dependence on fossil fuels. This includes investments in solar energy, wind power and other sustainable energy sources.

Digitization and innovation:

The Cypriot government is promoting digitalization and innovation in various sectors. There are initiatives to promote start-ups and technology companies as well as programs to improve the digital infrastructure. This should make Cyprus an attractive location for technological innovation.

Reform of the healthcare system:

Cyprus has implemented significant reforms to its healthcare system in recent years, including the introduction of the General Healthcare System (GESY). These reforms aim to improve healthcare for all residents and create a universal healthcare system that is geared towards efficiency and quality.

Tourism development:

Cyprus continues to focus on the development and diversification of the tourism sector. New tourist offers and infrastructures are being created to promote tourism all year round. Particular attention is paid to sustainable and cultural tourism in order to fully exploit the island’s tourism potential.
These developments show that Cyprus is actively working on adapting to international standards, overcoming economic challenges and shaping a sustainable future. The implementation of EU regulations and national reforms is helping to continuously improve the island’s economic and social environment.

The establishment of a company in Cyprus requires the fulfillment of certain requirements and compliance with legal regulations. Here are the most important requirements:

1. Choice of legal form

• Limited Company (Ltd): The most common legal form for foreign investors is the Cyprus Limited Company. Alternatives are partnerships and branches of foreign companies. A distinction is made between a business limited and a holding limited.

2. Company headquarters

• Address: The company must have an official address in Cyprus which serves as its registered office. This must be a physical address incl. Office as soon as the Limited generates turnover outside the Cypriot borders or participates in foreign companies

3. Partner, Managing Director, Secretary

• Shareholder: There must be at least one shareholder, who can be either a natural person or a legal entity.
• Managing director: The company requires at least one managing director, who must be a natural person.
• Secretary: The company must appoint a secretary who is resident in Cyprus to ensure the service of official documents. The secretary has no influence on the business activities of the limited company and has no authority over bank accounts etc.

4. Memorandum and articles of association

• Articles of Association: The Articles of Association and the Articles of Association must be drawn up and written in Greek.
• Signature by a lawyer: A licensed Cypriot lawyer must sign and submit the incorporation documents.

5. Name reservation

• Unique company name: The desired company name must be reserved and approved by the Cyprus Commercial Register. The name must not already be taken and must meet the requirements of Cypriot law.

6. Share capital

• No minimum requirement: There is no statutory minimum share capital, but a typical share capital is EUR 1,000 to cover the formation costs.

7. Tax registration

• Tax number: After registration in the commercial register, the company must apply for a tax number (Tax Identification Number).
• VAT ID: If the company carries out activities subject to VAT, a VAT number must be applied for.

8. Social insurance

• Registration with the social security institutions: If the company wishes to employ staff, it must register with the Cypriot social security institutions. A managing director is also an employee of the limited company.

9. Bank account

• Opening a bank account: The company must open a bank account in Cyprus in order to carry out business transactions and pay in the share capital.

10. Further registrations

• License and permit requirements: Depending on the type of business activity, it may be necessary to apply for additional licenses or permits. This applies in particular to regulated sectors such as financial services, healthcare and construction.

Steps to incorporate a company in Cyprus:

Name reservation:

The first step is to reserve the company name with the Cypriot Commercial Register. The name must be unique and not already assigned.

Social contract:

The Articles of Association must be drawn up in Greek. This agreement defines the internal regulations and structure of the company.

Company headquarters:

An official registered office in Cyprus is required. An office can be rented for this purpose or a virtual office service provider can be used.

Lawyer:

A licensed Cypriot lawyer must sign and submit the incorporation documents. This step ensures that all legal requirements are met.

Submission of the documents:

The complete documents must be submitted to the relevant commercial register. This includes the articles of association, the deed of incorporation and other necessary documents.
Duration and subsequent steps:

Processing time:

The entire start-up process usually takes six to eight weeks.

Tax number and VAT ID:

After registration in the commercial register, a tax identification number and a VAT number must be applied for.

Registration with the social insurance institutions:

If the company wishes to employ staff, registration with the Cypriot social security authorities is required. This is particularly relevant if the founder plans to relocate to Cyprus and/or work as an employee in his own company.

This means that he can prove that he has an employment relationship and a stable source of income.

Additional advantages:

Tax advantages:

The low tax rates and the tax exemption on dividends make Cyprus particularly attractive for companies and investors.

Simple administration:

Corporate law in Cyprus is business-friendly and the administration is efficient and transparent.

International orientation:

Membership of the EU allows companies to benefit from the advantages of the European single market and freedom of movement.
Setting up a company in Cyprus therefore not only offers tax advantages, but also a business-friendly environment and access to a broad international market.

Summary of the requirements

Setting up a company in Cyprus is a process that requires the fulfillment of certain legal and administrative requirements. Through careful planning and compliance with all legal requirements, entrepreneurs can benefit from the many advantages of the Cypriot business environment.

Who is a company formation in Cyprus suitable for? This depends heavily on the business model and the individual goals. In general, however, various sectors and groups of people benefit from the advantages offered by Cyprus. Typically, clients from the following sectors decide to set up a company in Cyprus:

Marketing / Sales / Media:

• Companies and freelancers in the fields of marketing, sales and media benefit from the international orientation and tax advantages.

Coaching / Speaker / Writer:

• Coaches, speakers and writers appreciate the opportunity to work internationally and benefit from low tax rates at the same time.

IT / Programming:

• IT companies and programmers take advantage of the favorable conditions for start-ups and the high availability of qualified specialists.

HR / Recruiting:

• Companies in the human resources and recruiting sector find a favorable regulatory environment and access to an international labor market in Cyprus.

Remote Worker:

• For people who work from anywhere, Cyprus offers an attractive quality of life and the opportunity to take advantage of tax benefits.

Trade:

• Trading companies benefit from Cyprus’ strategic location and good connections to Europe, Asia and Africa.

Production:

• Production companies take advantage of the low operating costs and the benefits of the EU single market.

Services:

• Service companies appreciate the business-friendly legislation and efficient administration.

Logistics:

• Logistics companies benefit from the geographical location and the well-developed infrastructure.

Commission business:

• Companies that work on a commission basis can make the most of the tax advantages and efficient administration.

Tax advantages:

Non-Dom status:

• Cyprus offers non-dom status, which is particularly attractive for foreign entrepreneurs. This status makes it possible to receive foreign income tax-free.

Corporate income tax:

• With a corporate tax rate of just 12.5% on company profits, Cyprus is one of the most attractive tax locations in the EU.

withholding tax:

• In principle, there is no withholding tax on dividends. There are only exceptions for income from non-cooperative countries in tax matters for which a withholding tax has been introduced.

Cyprus is therefore an ideal location for companies and entrepreneurs who operate internationally and want to benefit from a favorable tax and business environment. The combination of low tax rates, strategic location and EU membership makes Cyprus an attractive destination for setting up a company.

Setting up a company in Cyprus offers a number of advantages that make the country an attractive location for companies and investors. Here are the most important advantages:

Low corporate income tax:

• A corporate tax rate of just 12.5% on company profits is one of the lowest in the European Union and offers considerable financial advantages for companies.

No withholding tax on dividends:

• Cyprus does not levy withholding tax on dividends, which is particularly advantageous for holding companies and investors.

A well-trained workforce:

• The country has a well-trained workforce with high qualifications in various areas, including finance, IT and services.

Favorable geographical location:

• Cyprus is strategically located at the crossroads between Europe, Asia and Africa, making it an ideal location for international business.

Excellent logistics:

• With several international airports and well-developed seaports, Cyprus offers excellent logistical conditions for the transportation of goods and people.

Member of the European Union:

• As an EU member, companies in Cyprus benefit from the advantages of the European Single Market, including the free movement of goods, services, capital and people.

Stable political situation:

• Cyprus is a stable presidential republic with a solid democratic structure that provides a safe environment for business and investment.

Transparent and efficient administration:

• The Cypriot government promotes a business-friendly environment with transparent and efficient administrative processes.

Attractive quality of life:

• In addition to the business advantages, Cyprus offers a high quality of life with a mild Mediterranean climate, beautiful landscapes and a rich culture.

Double taxation agreements:

• Cyprus has an extensive network of double taxation agreements (DTAs) with over 60 countries, which facilitates international business and reduces tax burdens.

Promotion of start-ups and innovation:

• The Cypriot government supports start-ups and innovation through various programs and incentives, which makes the country attractive for new and innovative companies.

Simple foundation and administration:

• The process of setting up a company is comparatively simple and quick, and there are numerous service providers offering support.

These advantages make Cyprus an ideal location for entrepreneurs and companies wishing to benefit from a favorable tax environment, a strategic location and a stable political and economic situation.

In Cyprus, there are various legal forms that can be chosen depending on the business model and individual requirements. The most important legal forms are

Company Limited (Ltd.) or Holding Limited (Ltd.):

• The Cyprus Limited (Ltd) is the most common legal form for corporations. It offers the advantage of limited liability and is fiscally attractive with a corporation tax rate of 12.5%. This legal form is particularly suitable for medium-sized and larger companies as well as for holding companies. A distinction is made between a business limited and a holding limited.

Branch of a Foreign Company:

• Foreign companies can open a branch in Cyprus. This is not an independent legal entity, but part of the foreign company and is subject to Cypriot laws and tax regulations.

Public Limited Company (PLC):

• This legal form is intended for larger companies that wish to issue shares on the stock exchange. A PLC must fulfill certain requirements with regard to minimum capital and reporting.

Non-Profit Organization:

• For charitable activities, there is the option of founding a non-profit organization. This must meet certain requirements and enjoys tax advantages.

Trusts:

• Cyprus also offers the possibility of setting up trusts, which can be used for asset management and estate planning. These are particularly popular in an international context.

Choosing the right legal form depends on several factors, including the size and nature of the business, liability exposure, tax considerations and long-term business goals. It is advisable to seek advice from our experts when making your decision – we would be happy to consult our German-speaking lawyer licensed in Cyprus.

Cyprus is known for its attractive tax system, which attracts many companies and investors. The most important taxes and duties for legal entities include

Corporate income tax:

• The corporation tax rate is 12.5%. This is one of the lowest rates in the European Union and applies to all corporate profits made in Cyprus.

Value added tax (VAT):

• The standard VAT rate is 19%.
• Reduced rates of 9%, 5% and 3% apply to certain goods and services, such as hotel accommodation, food and medicines.
• Companies that generate taxable turnover must register for VAT and submit regular VAT returns.

Withholding tax:

• Cyprus does not levy withholding tax on dividends, interest and royalties paid to non-residents, except in cases where payments are made to countries on the EU blacklist.

Special Defense Contribution (SDC):

• The SDC applies to dividends, interest income and rental income and only affects resident legal entities. Non-resident companies are exempt.
• The SDC rate for dividends is 17%.
• The SDC rate for interest is 30%.
• The SDC rate for rental income is 3% (on 75% of the gross rent).

Capital gains tax:

• Capital gains from the sale of real estate in Cyprus or shares in real estate companies are subject to a capital gains tax of 20%.

Social security contributions:

• Employers must pay 8.3% of their employees’ gross salary as a social security contribution. Further contributions are:
• 2% for the Social Cohesion Fund
• 1.2% for unemployment insurance
• 0.5% for maternity leave
• 0.5% for the occupational accident insurance scheme
• The employer’s total contribution is therefore 12.5%.

Property tax:

• No annual property tax has been levied in Cyprus since 2017. Nevertheless, other taxes are payable on the purchase or sale of real estate, such as land transfer tax.

Stamp duty:

• Stamp duty is payable on certain documents and transactions, including company contracts, purchase agreements and company incorporation documents. The rate varies depending on the type and value of the transaction.

Double Taxation Agreement (DTA):

• Cyprus has concluded a large number of double taxation agreements that offer tax benefits and avoid double taxation of income from international transactions.

These taxes and duties make Cyprus an attractive location for companies wishing to benefit from the low tax rates and numerous tax advantages. It is recommended to seek tax and legal advice to ensure that all local regulations and requirements are met.

The Cyprus Limited (Ltd) is a popular legal form for companies wishing to benefit from the tax and legal advantages of Cyprus. Here are the main features of this legal form:

Legal form:

• The Cyprus Limited is a legal entity that acquires its own legal personality upon registration in the commercial register. This means that it acts independently of its shareholders and is legally autonomous.

Number of shareholders:

• A Cyprus Limited can be founded by at least one shareholder. The maximum number of shareholders is 50. Shareholders can be natural persons or legal entities, and there is no restriction on nationality.

Share capital:

• There is no legally prescribed minimum share capital for the formation of a Cyprus Limited. In practice, however, a share capital of EUR 1,000 is common in order to cover the formation costs and ensure a solid financial basis.

Liability:

• The liability of the shareholders is limited to their contributions. This means that the shareholders are only liable for the amount that they have contributed to the company. The company is liable for its liabilities with all of its assets.

Management:

• A Cyprus Limited must have at least one managing director, who must be a natural person. There are no restrictions regarding the nationality or place of residence of the managing director. The Managing Director is responsible for the day-to-day administration and representation of the company.

Accounting:

• There is a statutory accounting obligation. The company must keep proper accounting records and prepare annual financial statements. These financial statements must be audited by a licensed auditor and submitted to the competent authorities.

Organs:

The main bodies of Cyprus Limited are

• Shareholders’ meeting: This is the company’s highest decision-making body and makes important decisions such as amending the articles of association, appointing managing directors and approving annual financial statements.
• Management: Responsible for the day-to-day management and implementation of the resolutions of the shareholders’ meeting.
• Secretary: A secretary must be appointed by the shareholders at the time of incorporation, who must be regularly resident in Cyprus. This only has the function of ensuring the postal delivery of official documents and acts as a witness for the Limited.
• Supervisory Board (optional): A supervisory board is not mandatory, but can be set up voluntarily to monitor and advise the management.

Further features:

• Flexibility: Cyprus Limited offers great flexibility in the design of the articles of association and internal structures.
• Anonymity: In Cyprus, it is possible to use nominee directors and shareholders to preserve the anonymity of the actual owners.
• Availability of service providers: There are numerous specialized service providers in Cyprus that offer assistance with the formation and management of a Limited company, including legal, accounting and administrative services.

These features make the Cyprus Limited an attractive legal form for entrepreneurs and investors who want to benefit from the advantages of the Cypriot business environment.

Non-dom status in Cyprus offers significant tax advantages for individuals who settle in Cyprus and meet certain conditions. This regulation aims to position Cyprus as an attractive place of residence for wealthy individuals and entrepreneurs.

Advantages of non-dom status:

Exemption from the Special Defense Contribution (SDC):

• Persons with non-dom status are exempt from Cyprus defense tax for 17 years. This tax is levied on certain income such as dividends, interest and rental income.

Low residence requirements:

• The non-dom status can be maintained with a minimum stay of only 60 days per year in Cyprus. This allows great flexibility for people who work internationally.

Requirements for non-dom status:

Residency in Cyprus:

• You must become a resident of Cyprus, which means that you must establish your domicile in Cyprus and actually live there.

No tax domicile in Cyprus:

• You must not have been resident in Cyprus for tax purposes for more than 17 years in the 20 years prior to submitting your application.

60 days minimum stay:

• You must spend at least 60 days per year in Cyprus.

Year-round apartment:

• You must own or rent a year-round home in Cyprus.

employment relationship:

• You must either be employed in Cyprus for the whole year, be a director of a Cypriot company or be self-employed in Cyprus.

Exclusive tax liability:

• You may not have a tax residence in any other country in the world except Cyprus.

Application process:

Documentation:

• You must provide proof that you meet all of the above requirements. This can be done by submitting rental or purchase contracts, employment contracts and proof of your residence in Cyprus.

Application:

• Non-dom status is not automatically granted upon arrival in Cyprus, but must be officially applied for. It is advisable to seek professional assistance with the application to ensure that all requirements are met correctly.

Support:

Professional help:

• If you need assistance in obtaining non-dom status, specialized service providers and consultants in Cyprus can help you take the necessary steps and make the process smooth.

Non-dom status offers considerable tax advantages and flexibility for people who wish to live and work in Cyprus. By meeting the above requirements, you can benefit from attractive tax arrangements while enjoying a comfortable lifestyle in Cyprus.

Here are the three comparison tables showing the tax advantages between Germany and Cyprus for different amounts of profit:

These tables clearly show that the tax advantages of relocating the company to Cyprus are considerable, in particular due to the lower corporate tax rate and the absence of trade tax and capital gains tax.

Gross salary (13 salaries/year and at least 22 days of vacation are required by law)

• Gross monthly salary: € 940
• Annual gross salary: € 940 x 13 = € 12,220

Income tax

• Allowance: € 19,500 (total income is below the allowance, therefore no income tax)

Social security contributions (employee share)

• Contribution rate: 8.8%
• Monthly contribution: € 940 x 8.8% = € 82.72
• Annual contribution: € 82.72 x 13 = € 1,075.36

Net salary

• Monthly net salary: € 940 – € 82.72 = € 857.28
• Annual net salary: € 857.28 x 13 = € 11,144.64

Summary

The process of company formation in Cyprus follows a clear sequence of steps to ensure that all legal and administrative requirements are met. Here is a detailed overview of the process:

Conversation to get to know each other:

• An initial meeting serves to get to know each other, discuss your requirements and expectations and explain the entire start-up process.

Order placement and payment via our website:

• After the initial consultation, the order is placed and the service paid for via our website. You will receive an order confirmation and a detailed list of the next steps.

Sending proof of identity (Post-ID procedure), proof of residence and questionnaire:

• You send us copies of your identity card or passport as well as proof of residence (e.g. a current electricity bill or bank statement).
• Completion of the questionnaire (name for the Limited, location, etc.)

Company formation via our law firm (German-speaking):

• Reservation of the company name: Our licensed lawyer reserves the desired company name with the Cyprus Commercial Register.
• Preparation of the articles of association: Our licensed lawyer prepares the articles of association and the statutes in Greek and English.
• Attorney appointment: Signing of the founding documents.
• Entry in the commercial register: The company is officially entered in the commercial register.

Application for tax numbers:

• After registration in the commercial register, we apply for the Tax Identification Number and, if necessary, the VAT Number.

Registration as an employer for social security purposes:

• We register the limited company with the Cypriot social security institution via our tax advisor.

Preparation of a management contract:

• We draw up a managing director contract that regulates the rights and obligations of the managing director. This contract is signed by you and the managing director.

Opening an account with a Cypriot bank:

• We support you in opening a bank account in Cyprus. This requires your personal presence. We arrange an appointment with the bank and guide you through the process.

Summary of the procedure

The company formation process in Cyprus is well structured and involves several steps, ranging from the preparation of the necessary documents to the final registration and account opening. Every step is designed to make the process as smooth and efficient as possible so that you can start doing business quickly and easily.

As soon as your Cyprus Limited is entered in the commercial register, you have certain rights and obligations, particularly with regard to the tax office. To ensure that you do not miss any deadlines and do not have to pay any fines, you will be looked after by an experienced tax consultant licensed in Cyprus. This service offers you security and allows you to concentrate on your core business.

Services of the tax advisor:

Accounting and annual financial statements:

• The tax advisor takes over the complete bookkeeping of your company, prepares monthly and annual financial statements and ensures that all transactions are recorded correctly.

Tax returns:

• The tax advisor prepares your tax returns and submits them to the Cypriot tax office on time. This includes the corporate income tax return, VAT return and, if necessary, other tax returns.

Advice and support:

• You will receive regular advice on tax and financial issues in order to optimize your tax burden and meet legal requirements.

Deadline monitoring:

• The tax advisor monitors all tax deadlines and reminds you of necessary actions in good time to avoid penalties and fines.

Payroll accounting:

• If you have employees, the tax consultant will take care of payroll accounting and ensure that all social security contributions and taxes are calculated and paid correctly.

Individual offer:

We will be happy to provide you with an individual offer tailored to your specific needs and requirements. However, we already recommend our “all-round carefree package” at this point, as this includes everything and no additional costs, which gives you great cost and planning security.

Reliable support from a licensed tax advisor in Cyprus ensures that your Cyprus Limited company meets all legal requirements and that you can concentrate fully on the success of your company.