It takes approximately 3-5 days to receive approval for the company’s name after submitting the application. After that the Registrar of Companies will need an additional 5 to 6 days to incorporate the Cyprus Company.

The beneficial shareholder is not required to visit Cyprus at any stage of the procedure

A Nominee Director can either be a natural or legal person. He/she is used when clients wish to remain anonymous. This is because all the company documents are accessible to the public through the Registrar of Companies.

Based on the law, a company registered in Cyprus is required to have a Registered Address in Cyprus. Our firm will provide you with the aforementioned.

Yes, licenses are required. There are some business activities like financial institutions and banking. Additionally, hotels and restaurants that wish to operate in Cyprus must also obtain special licenses.

A Cyprus Company is required to pay an Annual Levy amounting to 350 Euros which is paid to the Registrar of Companies. The company is also required to submit Audited Financial Statements to the Income Tax Office every year. Finally, the company must submit its Annual Return with the audited financial statements to the Registrar of Companies.

There is no specific procedure in place when opening a bank account in Cyprus. Every banking institution follows its own procedure and regulations involving documents.

It usually takes 2 to 3 weeks to open an e-bank account in Cyprus under the condition all documents needed are in place according to the bank requirements.

The Company should upon incorporation:

• Obtain a Tax Number by the Cyprus Tax Authorities
• Assess whether is needed to register for a V.A.T. number
• Assess if Company will be required to register with the Social Insurance authorities in Cyprus

Yes. The Company will benefit from the low tax rate of 12.5% and at the same time via the numerous Double Tax Treaties and unilateral Tax credits allowing it for a successful tax plan implementation.

The Company will not be subject to Tax in the Republic of Cyprus and as a natural course of effect it will not be able to benefit from the numerous tax treaties Cyprus has entered with various countries.