Costs to open a Cyprus company
The expenses associated with registering a company in Cyprus vary based on several factors, such as the type of company and the legal service provider you choose. Below is an approximate breakdown of the expected costs:
Registration Fees: Depends on the company structure that you require, typically our fees can range from €900 to €2,000 for a limited company this fee often includes additional services after your company is registered. Be cautious of firms that advertise registration fees as low as €500, as they often impose extra charges and hidden fees for essential registration services, we dont’do that!
Annual Fees: These are recurring yearly expenses and include the following:
Nominee Shareholders and Directors: Usually legal representatives or accountants acting on behalf of the company.
Registered Office: This refers to either the representative office or your company’s registered office address, with an annual fee to be calculated on the base of the address chosen.
Secretary: Every Cypriot company must appoint a secretary, with a low annual fee.
Accounting and Auditing Fees: These costs depend on the number of transactions your company conducts annually and the size of your accounting firm. Larger firms, such as KPMG and PwC, generally charge higher fees compared to us.
Annual Return: You are required to file an annual return with the Registrar of Companies each year. The stamp cost is approximately €100, and additional fees may apply for the preparation and filing of the report by your accountant or legal representative
CONTACT US FOR A PRECISE QUOTE ON EACH COST BASED ON YOUR COMPANY OBJECT AND COMPANY STRUCTURE
Opening a company in Cyprus offers numerous advantages, making it an attractive country destination for businesses. Here are some key benefits:
1. Favorable Tax Regime Low Corporate Tax Rate: Cyprus has one of the lowest corporate tax rates in the European Union at 12.5%.
Double Tax Treaties: The country has a wide network of double tax treaties with over 60 countries, reducing the risk of double taxation on international transactions.
Tax Exemptions: Dividends, profits from overseas permanent establishments, and gains from the sale of securities are generally tax-exempt.
2. Access to the EU Market
As a member of the European Union, Cyprus provides businesses with access to the EU’s single market, facilitating the free movement of goods, services, and capital across member states.
3. Strategic Location
Cyprus is strategically located at the crossroads of Europe, Asia, and Africa, making it an ideal hub for businesses looking to operate in these regions.
4. Efficient and Transparent Legal System
The legal system in Cyprus is based on English common law, providing a familiar and reliable framework for international businesses.
The country is known for its strong protection of property rights and adherence to EU regulations.
5. Business-Friendly Environment
Cyprus offers a straightforward and efficient process for company registration, making it easy to set up a business.
The country has a well-developed infrastructure, including modern banking services, telecommunications, and transportation networks.
6. Skilled Workforce
Cyprus has a highly educated and multilingual workforce, with a strong emphasis on professional services such as accounting, legal, and financial sectors.
The workforce is known for its proficiency in English, which is widely used in business.
7. Relatively Low Operating Costs
Compared to other EU countries, Cyprus offers relatively low operating costs, including lower office rent, labor costs, and utility expenses.
8. Residency and Citizenship Opportunities
Business owners who establish a company in Cyprus may be eligible for residency permits, and under certain conditions, may also apply for Cypriot citizenship.
9. Robust Banking and Financial Services
Cyprus has a well-regulated and robust banking system with a wide range of financial services, making it easier for businesses to manage their finances and conduct international transactions.
10. Stable Political and Economic Environment
Cyprus enjoys a stable political environment and a growing economy, providing a secure and predictable environment for business operations.
These advantages make Cyprus an attractive option for entrepreneurs and companies looking to expand their presence in Europe and beyond.
