Opening a company in Cyprus – a state registration of the firm in the Register of Firms with appropriate evidence. Since the official registration of a Cypriot company gets the opportunity to participate in business turnover as a legal entity.
Every year, many entrepreneurs seek to establish their business in Cyprus. This is advantageous for several reasons:
- the lowest tax rates in the EU: for example, the VAT rate does not exceed 15% and the corporate tax rate – 12.5%;
- the presence of many agreements on the avoidance of double taxation;
- no income tax on transactions with shares and securities (charged fee only for the defense);
- the possibility of opening a business bank accounts remotely;
- the possibility of cooperation without restrictions with the EU;
- no exchange controls;
- a fairly simple procedure of registration of companies, including for foreigners;
- financial statements of companies submit by international standards;
- versatile business support from the Cypriot authorities.
The main constituent documents of companies in Cyprus are the Charter and Agreement of the founders. This Agreement contains the priorities and in the Charter is fixing administrative procedures related to the operation and management of the company. For example, the order of the general meeting of shareholders, board of directors, issue, placement of shares and other issues defined by the Charter. In addition to the constituent documents Cypriot legislation requires the completed questionnaire about the opening of the company, bank reference letter to each shareholder, notarized copies of passports of shareholders, the annual state fee in amount of 350 euro.
Cypriot company must have at least one shareholder (any person), director and secretary (best of all if they will be citizens of Cyprus to obtain resident status). The authorized capital – 1000 euro, and the payment won’t be necessary. The whole registering procedure takes about 8 days after submission of documents to the Registrar of Companies. Within two months after the registration the firm must obtain taxpayer identification number.
To open a business in Cyprus you do not have to learn unfamiliar laws, spend your time on the collection of documents and personally visit the Republic. It is enough to entrust the solution of this issue to us. Our professionals are helping to entrepreneurs and business people to register their business in accordance with the laws of Cyprus for a long time. We are able to open a company of any organizational-legal form of all activities. Our professionalism is the key to your successful start.