Cyprus Company Formation
Cyprus has fast become one of the more popular places for offshore company formation.
Cyprus was occupied by the United Kingdom from 1878 until they relinquished it back in 1960, however this has left a positive mark on the Island, in particular that it follows British Common law especially when it comes to corporate law. The majority of the Island is English speaking making it a more friendly option for English speaking business to be transacted.
The Island relies heavily on tourism for its economy, but light manufacturing contribute along with its good location and advanced physical and social infrastructure making Cyprus one of the most prosperous Islands in the Mediterranean region.
Cyprus joined the European Union in 2004 and adopted the Euro in 2008 replacing the Cyprus pound.
Corporate Advantages of Cyprus:
Cyprus has many other attractive qualities which make it one of the more appealing choices for International Business, such as it’s low corporation tax rate of just 10%, the lowest in the EU as well as numerous other tax benefits specifically designed to promote foreign investment in Cyprus. – Click here for more information on Cyprus Taxation.
In addition to the numerous tax benefits Cyprus also has double taxation treaties with over 40 other countries including most of the high tax countries in Western Europe and are continuing negotiations to further extend their network of treaties. Check this article for a full list of Cyprus double taxation treaties.
Cyprus is a full member of the EU and its central location make it ideal for interaction with Europe. Cyprus has a modern and competitive infrastructure along with an efficient and sophisticated business environment.
Cyprus Registry and Laws
The Cyprus registrar of companies has been in existence for over one hundred years and has developed a modern and sophisticated system including electronic filing on forms. Cyprus Company Registration can be done quickly. Cyprus does have a publicly accessible records, but this is only on the named Directors, Secretary and Shareholders of the company. Chesterfield’s common practice is to use in house nominee Directors, Secretary and Shareholders on our companies. There is no requirement to disclose the ultimate beneficial.
Cyprus has been implementing laws and regulatory requirements in connection with our industry which are now on par with many other EU states and has now announced that any company wishing to provide fiduciary services in Cyprus must be regulated which furthers adds to its reputation as being a respected jurisdiction – Check the following article for Cyprus to become regulated
Cyprus Banking
Cyprus is home to many reputable Banks as well as numerous International Banks with a permanent base so there is a lot of choice. The National currency has been the Euro since 2008 following Cyprus’s inclusion in the EU, but banking may be done in various currencies. Cyprus banks have modern sophisticated international systems and are able to transact with Europe efficiently. Chesterfield can liaise with several banks in Cyprus to fast track accounts in order that they may be opened within a few days. – Check this article for more information on Cyprus banks
Cyprus VAT
Cyprus first introduced VAT in 1992 and largely based this on the British VAT legislation of 1983. This has been amended several times since this date to comply with the EU VAT directive. It has a modern and respected tax regime and as it is a full member of the EU so is a good choice when looking for a reputable jurisdiction for your VAT Registration. It has a competitive VAT rate when compared to other EU Countries and registration and credits can be processed quickly. Chesterfield can assist you in every aspect of Cyprus VAT Registration.
Cyprus Structures
For more information on some of the more popular company types please follow the links below;
Company Name
Cyprus is a European Union member state that forms part of the Eastern Mediterranean. If you want to incorporate your company in Cyprus, it must have an English-language name and cannot include any Greek text unless accompanied by an accurate translation into another language (such as French). Additionally, there are certain restrictions on what types or characters can appear within these names: only letters A – Z and 0 – 9; no spaces; maximum three consecutive capitalized letter strings at beginning/end of word), so make sure yours meets all requirements before submitting!
Yearly Requirements for a Cyprus Company Formation
When you form a Cyprus company, it is imperative that the requirements are met each year to keep its registration in good standing. Renewals can be done with either an agent or online through concerned authorities on behalf of your company’s needs and preferences (e-mail confirmation required). Annual filings include submission deadlines for annual returns as well as paying fees if they have not been previously paid when initializing formation; renewal requests must also go out annually according to these same rules but will depend largely upon how often executives wish their details renewed – from one month up until five years depending entirely upon which option(s) were chosen during initialisation process. A company must submit annual returns 18 months after incorporation in Cyprus. These are submitted to the Cypriot government and then approved during an AGM.
Cyprus Intellectual Property
Intellectual Property Law or IP law as it is more often referred to is the Legal entitlement in connection with creative ideas and works such as literary works, artistic works, designs and inventions. Cyprus Intellectual Property Law is in line with the European Union and Cyprus is a member of the Office for Harmonization in the Internal Market for the registration and protection of Trade Marks and Industrial Designs within the European Union. Cyprus is also a member of the World Intellectual Property Organization and is party to numerous International Conventions and Treaties – Check this article for more information regarding Cyprus Intellectual Property
Permanent Residency in Cyprus
This has led to an influx in of wealthy families and businessmen, predominantly Chinese, Russian, Middle Eastern and beyond buying property or investing in Cyprus in order to gain permanent residency so that they can travel visa-free throughout the European Union. Permanent Residence holders can also apply for a Cypriot passport after seven years – Check this article for more information regarding permanent Residency in Cyprus
Chesterfield and Cyprus
Chesterfield can help you every step of the way from initial structuring including tax structuring and Asset Protection. To Incorporating a Cyprus Offshore Company, Opening a Bank Account, Providing corporate Services including dealing with the Cyprus Registrar of Companies and any Cyprus VAT Registration.
Latest Articles on Cyprus
Unlocking Financial Opportunities: Swiss Bank Accounts for Cyprus Companies and Chesterfield’s Services
Swiss bank accounts have long been synonymous with financial stability, privacy, and exceptional banking services. For Cyprus companies seeking to optimise their financial strategies, opening a Swiss bank account can offer a range of advantages. [...]
Unlocking Financial Opportunities: Offshore Bank Accounts in Cyprus and Chesterfield’s Expertise
Offshore bank accounts have long been recognised as a powerful tool for individuals and businesses seeking to optimise their financial strategies. Cyprus is world-renowned for its favourable tax regime, robust banking sector, and strategic location. [...]
Setting up a Family Office in Cyprus: Unlocking Wealth Management Opportunities with Chesterfield’s Expertise
For high-net-worth individuals and families seeking to manage and preserve their wealth, setting up a family office can provide a comprehensive solution tailored to their unique needs. Cyprus, with its attractive business environment, favourable tax [...]
Restructuring your Business in Cyprus
In today's dynamic business landscape, restructuring is often a necessary step for companies seeking to adapt, grow, or optimise their operations. In Cyprus, a strategic approach to business restructuring can offer numerous benefits, such as [...]
Virtual Office in Cyprus: Enhancing Business Flexibility with Chesterfield
In today's fast-paced and digital world, the concept of a traditional office space is evolving. Entrepreneurs and businesses are increasingly turning to virtual offices as a flexible and cost-effective solution. This is particularly true in [...]
Corporate Secretarial Services in Cyprus: How Chesterfield Supports your Business
Corporate secretarial services play a vital role in ensuring the smooth and compliant operation of companies in Cyprus. From maintaining statutory records to handling corporate governance requirements, these services are essential for businesses to meet [...]
Company Secretarial Services for Cyprus Companies: Simplify Compliance with Chesterfield
Compliance with legal and regulatory requirements is crucial for any business operating in Cyprus. From annual filings to maintaining proper corporate governance, the administrative burden can be significant, diverting your attention from core business activities. [...]
Nominee Services in Cyprus and Shareholder Provider for Cyprus Companies
When it comes to setting up a business in Cyprus, many entrepreneurs value privacy, flexibility, and the ability to maintain anonymity. This is where the services of a nominee and shareholder provider become crucial. By [...]
Cyprus Registered Office Service Provider
When it comes to establishing and maintaining a business presence in Cyprus, one of the key requirements is having a registered office. A registered office serves as the official address of a company, and is [...]
Changing your Current Registered Agent and Office in Cyprus: How Chesterfield can Help
Changing your current registered agent and office in Cyprus can be a complicated process. However, with the assistance and expertise of a reliable service provider like Chesterfield, you can ensure a smooth transition – and [...]
Changing Registered Agent and Office in Cyprus
As a business owner in Cyprus, there may come a time when you need to or want to change your registered agency and office. This could be for a variety of reasons, such as wanting [...]
Cyprus Trust and Trustee Services Offered by Chesterfield
Chesterfield is a renowned provider of trust and trustee services. Founded in 1994, our company has a well-established global reputation, as well as a team of reliable, knowledgeable experts who remain on hand to provide [...]
Transferring your Cyprus Company from your Current Fiduciary Provider
Chesterfield is a leading provider of corporate services, including fiduciary services. As a trusted fiduciary services provider, we offer a wide range of professional corporate services, including company formation, bank account opening, and corporate administration. [...]
Relocating/Redomiciling and Growing your Company in Cyprus
Cyprus is an alluring destination for businesses seeking to relocate or redomicile their operations. The country is world-renowned for its high quality-of-life, advanced infrastructure, multilingual workforce, and excellent tax benefits. In addition to the above-mentioned [...]
How to Obtain a Residence Permit in Cyprus
Cyprus is an incredibly popular location for tourists and expats alike, thanks to its glorious climate, stunning beaches, and high quality-of-life. It’s also with individuals looking to live and work abroad, thanks to its benefits [...]
The Benefits of Registering a Company in Cyprus
Cyprus is an island nation in the Eastern Mediterranean situated at the crossroads of Europe, Asia and Africa. It is a highly popular place for company formation thanks to its attractive business environment, favourable tax [...]