Cyprus Company Registration

Why Cyprus is the Ideal Choice for Registering Your Business

Cyprus offers a business-friendly environment, low taxes, efficient company registration, and easy access to the European market, making it the perfect hub for international businesses. Yobbi can assist you throughout the process, ensuring a smooth and hassle-free experience.

Competitive Corporate Tax Rate

Cyprus offers a low 12.5% corporate tax rate, with an IP Box regime that can reduce taxes on IP income to 2.5%, plus over 60 double taxation treaties.

Business-Friendly Environment

Cyprus provides a stable economy, skilled workforce, and a strong legal system, with access to EU markets and preferential trade agreements.

Efficient Company Formation

Company registration in Cyprus is quick (7-10 days) with low fees and minimal bureaucracy, making it a hassle-free process.

Access to EU Markets

Cyprus’ EU membership gives businesses access to over 500 million consumers and valuable trade opportunities across Europe.

Register Your Company Now
Get a Free Consultation

What You Need to Know Before Incorporating in Cyprus

Setting up a company in Cyprus involves several important steps. Understanding the requirements and processes in advance will help you establish your business smoothly. Yobbi is here to assist you at each step, ensuring full compliance with local regulations.

Company Name Approval

Ensure the company name is unique and adheres to Cyprus’ legal requirements.

  • The company name must be approved by the Registrar of Companies before the incorporation / registration process commences. This ensures that no other company in Cyprus has the same name and that it complies with naming regulations.
  • The company name must end with the word "Limited" or its abbreviation "Ltd."
  • Name reservations are typically confirmed within 10 working days.
  • It's important to note that a company will not be registered under a name deemed undesirable by the Registrar or one that closely resembles an already registered name.
  • None at this stage.
  • Research Name Availability: Before submitting your request, do a preliminary search to check if your preferred name is already in use. This can save time and help you avoid choosing a name that's already taken.
  • Avoid Restricted Words: Be aware that certain words are restricted or require special permission (e.g., “bank,” “insurance,” or any term that could mislead consumers). Make sure the name doesn't violate any naming regulations.
  • Be Creative with Variations: If your first choice is unavailable, try adding a geographic reference, your business activity, or a relevant word that clearly identifies your business niche to differentiate it.
  • Trademark Search: If you're planning on branding your business, consider conducting a trademark search to ensure your company name isn’t already trademarked by another entity.
  • It’s helpful to have several name options in case the first choice is unavailable, or you may consult Yobbi specialist for assistance.
  • Yobbi can help you choose a name that complies with Cyprus regulations and submit the name approval request on your behalf.

Gathering Required Documents

Collect necessary documents to submit for company registration.

  • We need information of your company Director, Shareholder, along with the shares ratio.
  • Collect all the required documents for the directors, shareholders, and beneficial owners (UBOs) to submit to the Registrar of Companies.
  • Processing time: For normal cases, a company can be formed in about 14 working days, while urgent cases can be processed and completed in 10 working days. The process duration counts after the receipt of full payment and all required documents.
  • Notarized Passport Copy: For each director, shareholder, and UBO.
  • Proof of Residential Address: Recent utility bill or bank statement (within 3 months).
  • Banker's Reference Letter: A letter from a bank confirming the individual’s financial standing.
  • CV of the UBO: A professional background CV for the UBO.
  • Completed Application Forms: Forms provided by the Registrar to collect company details.
  • At least one shareholder is required (this can be a foreign national).
  • At least one director is required (this can be a foreign national).
  • A registered office is mandatory, which can be the company’s office address or a service address.
  • A company secretary is required and can be an employee of the company.
  • If using corporate shareholders, you will need additional documentation (e.g., Certificate of Incorporation of the corporate entity). If you need help with these services, Yobbi can assist in providing nominee services and a company secretary if required.
  • Prepare Documents Early: Start collecting the required documents as early as possible to avoid delays later in the process. This includes ensuring that all documents are up-to-date (e.g., utility bills and bank statements within the last three months).
  • Check Document Authenticity: Make sure that all notarized documents are authentic and properly certified. Inaccurate or improperly notarized documents can result in delays or rejection.
  • Verify UBO Details: Ensure that the Ultimate Beneficial Owner (UBO) is clearly identified and the CV includes detailed and up-to-date professional information to avoid confusion or delays.
  • Corporate Shareholder Documentation: If you are using a corporate shareholder, ensure that you have the correct documentation, such as the corporate shareholder’s Certificate of Incorporation, proof of the directors, and legal status of the entity.
  • Ensure Correct Address Documentation: Ensure the proof of address (utility bill or bank statement) is in the name of the director, shareholder, or UBO and clearly states their residential address, as this can sometimes be an issue if the name or address details are unclear.
  • Yobbi will guide you in gathering and verifying the necessary documents, ensuring they meet Cyprus requirements.

Submitting the Application to the Registrar of Companies

Submit the required documents and application to the Registrar of Companies for review.

  • A lawyer typically handles the submission process, either online or in person.
  • Usually 1-2 working days for submission, but the approval process takes about 7-10 working days.
  • Notarized Passport Copy: For each director, shareholder, and UBO.
  • Proof of Residential Address: Recent utility bill or bank statement (within 3 months).
  • CV of the UBO: A professional background CV for the UBO.
  • Completed Application Forms: Forms provided by the Registrar to collect company details.
  • A copy of the company’s Memorandum and Articles of Association (MAA).
  • Ensure all signatures are valid to avoid delays.
  • Double-Check All Documents: Before submission, review all documents thoroughly to ensure accuracy. Missing or incorrect information can cause delays or rejections.
  • Be Ready for Additional Requests: In some cases, the Registrar may request additional information or clarification. Be prepared to provide any further documentation or revisions quickly.
  • If additional directors, nominee shareholders, a registered office, or a company secretary are needed, Yobbi can arrange these services through a law firm for an extra fee. The fees will vary based on the specific service and terms of the agreement.
  • Yobbi can submit the application on your behalf, ensuring that all documents are properly prepared and filed.

Review and Approval by the Registrar of Companies

The Registrar reviews the submitted application to ensure all documents are in order and that the company complies with Cyprus regulations.

  • Name Approval: The Registrar ensures the company name is approved.
  • Documents Review: Ensures that all required documents (directors, shareholders, UBO) are in order.
  • The review typically takes 7-10 working days.
  • None at this stage.
  • If there are issues with the documents (e.g., missing signatures), the Registrar may request clarifications or revisions.
  • Yobbi monitors the process and handles any issues that may arise with the Registrar to ensure smooth approval.

Final Company Registration and Document Filing

Officially register the company and receive the Certificate of Incorporation.

  • Once the Registrar approves the application, the company is officially registered. You will receive the Certificate of Incorporation and other essential documents.
  • This step typically takes 1-2 weeks after the name approval and application submission.
  • The fee for company formation is EUR 1,250 plus VAT, based on a share capital value of EUR 1,000.
  • Certificate of Incorporation: Official confirmation of company registration.
  • Certificate of Directors and Secretary: Lists the appointed directors and secretary.
  • Certificate of Registered Office: Official company address.
  • Certificate of Shareholders: Lists the company’s shareholders.
  • Share Certificates: Issued to shareholders as proof of ownership.
  • Tax Identification Number (TIN)
  • Appointment of First Directors: Document proving the appointment of the company’s first directors.
  • Memorandum and Articles of Association: Governing documents in both English and Greek.
  • First Minutes: Documentation of the first meeting and decisions made.
  • Rubber Stamp: You may need to acquire a rubber stamp for official documents.
  • Provision of Registered Office and Registered Address for One Year.
  • Provision of Company Secretary for One Year.
  • Keep Original Documents Safe: Make sure to obtain the original copies of all official documents from the Registrar. These will be necessary for setting up bank accounts and dealing with other authorities.
  • Review Official Documents Carefully: Ensure that all official documents, such as the Certificate of Incorporation and the Memorandum and Articles of Association, are accurate and properly filed. Mistakes can cause delays or issues in the future.
  • Nominee Services for Privacy: If you wish to maintain privacy about the company’s directors or shareholders, you can consider using nominee services. Yobbi can provide these services for added confidentiality.
  • Registered Office Requirements: Ensure that the registered office address you use is compliant with Cyprus regulations. The address must be available for official correspondence. If you don’t have a local office, Yobbi can provide a registered office address for one year.
  • Company Secretary Compliance: A company secretary is a legal requirement in Cyprus. Ensure that your company has one to stay in compliance with Cyprus corporate laws. Yobbi can provide this service for one year.
  • Ensure Timely Submission: After approval, ensure that your registration and documents are filed with the Registrar of Companies promptly to avoid unnecessary delays in your company’s official establishment.
  • Rubber Stamp Use: While not mandatory, having a rubber stamp can be useful for official documents, contracts, and banking purposes. It’s often required when signing legal documents in Cyprus.
  • Bank Account Setup: Once your company is officially registered, you can begin the process of opening a corporate bank account. This will be necessary to start conducting business operations.
  • If you require additional directors, nominee shareholders, a registered office, or a company secretary, Yobbi can provide these services through a law firm for an extra fee. The fees vary depending on the service and the agreement terms.
  • Yobbi ensures you receive all the necessary documents, arranges for the rubber stamp if needed, and provides the registered office and company secretary services.

Post-Incorporation Compliance and Ongoing Obligations

Ensure the company complies with Cyprus’ tax and legal obligations after incorporation.

  • After incorporation, the company must complete VAT registration, set up a corporate bank account, and comply with ongoing legal obligations.
  • VAT registration and bank account setup can take 1-3 weeks after incorporation.

VAT Registration:

  • If the company’s taxable turnover exceeds €15,600, VAT registration is mandatory. The VAT standard rate of 19% applies to most goods and services in Cyprus.
  • Services or goods provided by a VAT-registered company in Cyprus to an EU individual or company are typically zero-rated for VAT purposes, meaning no VAT is charged by the Cypriot supplier. Similarly, services or goods provided to a non-EU individual or company are generally exempt from Cyprus VAT.

Obtain a Cypriot Tax Number (TIN):

  • Register with the Cyprus Tax Department to obtain a Tax Identification Number (TIN), which is necessary for tax filings and operations.

Bank Account Pre-Approval:

  • Pre-approval from a bank is needed to open a corporate account. Yobbi can assist you in obtaining this pre-approval.

Business Licenses:

  • Depending on the business activity, additional licenses may be required (e.g., licenses for specific industries). Ensure you have the appropriate licensing in place for your operations.

Ongoing Compliance:

  • Companies must maintain proper accounting records.
  • Submit Annual Financial Statements, which must be audited according to International Financial Reporting Standards (IFRS).
  • Submit Annual Returns (HE32), along with the financial statements, to the Registrar of Companies.
  • Audit Requirements: Financial statements must undergo auditing by an independent registered auditor in Cyprus, in accordance with International Standards of Auditing (ISAs).
  • Maintain Accurate Books and Records: Directors must ensure that records necessary for preparing financial statements are maintained in line with Companies Law. All records must be kept at the company's registered office and updated within four months from the transaction date. They should also be available for review by authorities such as the Inland Revenue Department, VAT Service, and Social Insurance Services.
  • Record Retention: All records must be retained for six years from the end of the relevant year for income tax and VAT purposes.
  • If employing staff, register with the Ministry of Labour’s Department of Social Insurance Services and make social insurance contributions.

Social Insurance:

To hire employees, you must register with the Ministry of Labour’s Department of Social Insurance Services. You will need to make contributions based on each employee’s salary, including:

  • 8.8% employer’s social insurance
  • 2% social cohesion fund
  • 1.2% redundancy fund
  • 0.5% industrial training fund
  • 8% holiday fund
  • 2.9% national health system (GESY) contribution
  • Social Insurance Registration Fee: EUR 70 per employee (one-time fee).

Corporate Tax:

  • The corporate tax rate in Cyprus is 12.5%. Ensure your company complies with tax obligations and qualifies for exemptions such as the Intellectual Property (IP) Box Regime, which can lower the effective tax rate to 2.5% on qualifying IP income.
  • For companies dealing with immovable property, be aware that Cyprus applies a 20% capital gains tax on gains from the disposal of such property or shares in companies owning such property.
  • Plan for VAT Registration Early: If your company’s turnover is approaching the VAT threshold of €15,600, initiate the VAT registration process early. This helps avoid delays and ensures your company remains compliant as your revenue grows.
  • Choose the Right Bank: Selecting the right bank is crucial. Opt for a bank that meets your business needs and understands international transactions, especially if you plan to operate globally. Yobbi can assist in helping you choose the right bank for your business.
  • Keep Records Updated: Ensure that the company's legal documents, such as the details of shareholders and directors, are kept up-to-date with the Registrar of Companies. This helps prevent legal issues and ensures the company remains compliant with Cyprus regulations.
  • Monitor Reporting Deadlines: Keep track of Cyprus’s annual filing deadlines and financial reporting requirements. This will help you avoid fines or penalties for late submissions, such as failing to submit your Annual Returns (HE32) or audited financial statements.
  • Yobbi provides comprehensive assistance throughout the post-incorporation phase. We help with VAT registration, tax number registration, obtaining bank account pre-approval, and ensuring your company meets all ongoing compliance requirements. We guide you through maintaining accurate accounting records, submitting annual returns, and registering for social insurance when hiring employees.
Register Your Company Now

Overview of the Cyprus Company Setup Timeline

The estimated timeline for processing applications typically extends to 4 months or longer, depending on the applicant’s circumstances, the completeness of their documents, and the efficiency of the registrar’s processing. However, the corporate setup process typically takes 7-14 working days, though this can also extend depending on various factors.

  • 1-3 working days

    Choosing and Approving Your Company Name

    Submit a name reservation request to the Registrar.

  • 5-7 working days

    Preparing Documents and Submitting to the Registrar

    Collect and prepare the necessary documents for directors, shareholders, and beneficial owners (UBOs) for submission to the Registrar of Companies.

  • 1-2 weeks

    Registrar Review

    Once the application and documents are submitted, the Registrar will conduct a review to ensure everything is in order.The approval process typically takes 7-10 working days, but it can extend depending on the complexity of the application and the completeness of documents.

  • 1-3 weeks

    Post-Incorporation Setup

    Complete all necessary tasks following company incorporation, such as VAT registration, obtaining a tax ID, and setting up a corporate bank account.The process could take between 1-3 weeks. Some additional permits or licenses may be required depending on your business activities.

  • Ongoing

    Ongoing Compliance

    Once your company is fully set up, ongoing compliance involves various tasks such as annual tax filings, maintaining accurate financial records, submitting VAT returns, preparing audited financial statements, and holding annual general meetings (AGMs).

Register Your Company Now

Annual Maintenance Fee for Cyprus Company

Note: Prices are subject to change depending on individual cases.

Annual Maintenance Fee

EUR 1,150 + VAT

This includes the following services:
  • Provision of Registered Office and Address

    This service provides your company with a legal address in Cyprus, which is required for official correspondence and documentation.

  • Provision of Company Secretary

    A company secretary ensures compliance with local regulations, handles legal documents, and assists with corporate governance matters.

  • Fee for Holding of Accounting Records

    This covers the management and storage of your company’s financial records, ensuring they are organized and compliant with accounting regulations.

  • Annual Disbursement (Printing and Scanning)

    This covers the costs of printing and scanning documents required for maintaining company records and ensuring compliance with legal requirements.

  • Annual Compliance Fee

    This fee ensures your company remains compliant with local laws, including filing necessary reports and meeting regulatory requirements each year.

Additional Charges (One-Time/Optional)

Payment Breakdown:
  • UBO Filing (Compulsory) EUR 180 + VAT

    The Ultimate Beneficial Owner (UBO) filing is a mandatory requirement for all companies in Cyprus. This filing ensures transparency regarding the individuals who ultimately own or control the company. The filing needs to be updated annually, or whenever there are changes to the beneficial ownership. This charge covers the administrative work and filing of the required UBO details with the relevant authorities.

  • VAT Registration EUR 150 + VAT

    VAT registration is required for companies engaging in taxable activities that exceed a certain threshold of turnover. If your company meets the criteria for VAT registration, this fee covers the process of applying for VAT registration with the Cyprus tax authorities. It includes preparing and submitting the necessary documentation, as well as ensuring compliance with local VAT laws.

Total Annual Cost:
  • EUR 1,150 + VAT (Annual Maintenance Fee)
  • EUR 180 + VAT (UBO Filing)
  • EUR 150 + VAT (VAT Registration)

Total Cost (Excluding VAT): EUR 1,480

(Note: VAT will be added based on the applicable rate.)

Enquiry Now

Frequently Asked Questions

The most common type of company in Cyprus is a private limited liability company (Ltd), but you can also set up a public limited company (PLC), a branch, or a representative office.

To set up a Cyprus company, you need at least one director, one shareholder, and a registered office address in Cyprus. The director can be a resident or non-resident.

No, you do not need to be in Cyprus to register a company. You can handle the entire process remotely with the help of a local service provider or corporate secretary. Yobbi can assist you throughout the entire process, ensuring a smooth and efficient company registration, from paperwork to compliance.

There is no mandatory minimum share capital required by law for a private limited company in Cyprus, but it is customary to have at least EUR 1,000. The share capital can be in any currency.

If your company’s taxable turnover exceeds EUR 15,600 annually, you must register for VAT in Cyprus. VAT registration is also recommended for companies that intend to trade internationally.

Cyprus companies must file annual financial statements, hold annual general meetings (AGMs), and maintain accounting records. Additionally, they must file a UBO (Ultimate Beneficial Owner) register and comply with tax and VAT filings as applicable.

Ready to get started?

Packages & Pricing
Chat with Us