The Republic of Cyprus traditionally belongs to the list of regions with the lowest level of taxation for commercial activities. If you want to get the maximum profit and at the same time have access to the EU market, then company registration in Cyprus will be a profitable option.
About the cost of establishment a Cypriot business
The price of company formation in Cyprus from Lawrange is 2500 euros. The price includes the following package of services:
- comprehensive legal services in the first year of operation of the enterprise;
- direct registration of the company or the purchase of a ready-made business;
- agency services;
- appointment of a secretary;
- lease of a legal address;
- appointment of a nominee director and shareholder (upon request).
Thus, we provide a comprehensive turnkey service in the shortest possible time. You do not need to resort to the help of third parties – Lawrange will provide full assistance in company registration in Cyprus from scratch.
Features of registering a business in Cyprus
As a former British colony, Cyprus has adopted many of the advantages of English law. This is especially true of organizational and legal forms. For non-residents, the best solution would be to register a company in Cyprus as a limited liability company (LTD). At the same time, the state allows the use of a nominal service.
It will take up to 15 business days to set up a new business. When buying a ready-made business, the period is much shorter – up to 4 working days.
Contrary to popular misconception, the Republic of Cyprus is not a full-fledged offshore. The state can be attributed to midshores – regions that provide a low tax burden, but maintain a reputation in the world market. This must be understood by everyone who wants to establish a business in Cyprus.
With regard to the need for reporting documentation, Cyprus is no different from most other European countries. Here you also need to submit a tax return and financial statements certified by an independent auditor.
In Cyprus, there are extremely favorable conditions for the development of both start-ups and holdings (there are no restrictions on consolidation and other actions). This opens up an almost limitless scope for economic growth and development. At the same time, Cyprus cooperates with all the world’s credit institutions – you can safely open a current account in any convenient bank.
What do you need to set up a company in Cyprus?
Lawrange law firm takes care of the registration of your business on the island. All that is required from you:
- a copy of the passport;
- a copy of the national passport;
- three options for the name of the future organization.
The republic is loyal to the names of enterprises – you can register a company in Cyprus and come up with a name in any language, but with a translation into Greek or English. It is not allowed to use existing names.
When providing the specified documentation, we draw up all the main certificates for your business: Certificate of registration, certificates for managers and shareholders, certificate of legal address, receipts for payment of administrative fees and the Charter of the company.
What taxes does a business in Cyprus pay?
Before setting up a company in Cyprus, it is important to study the peculiarities of local taxation. There are the following types of taxes on the island:
- at a profit. The base rate is 12.5%. Tax is not charged if the profit is transferred to a foreign partner;
- VAT – 19%;
- royalty. Average size – 5%;
- for dividends – 0%.
There are a large number of tax benefits for non-residents in the Republic (which is why the state is considered a midshore). Lawrange will help you get privileged conditions for doing business.
Benefits of Cypriot jurisdiction
Company registration in Cyprus offers the following advantages for business:
- entry into the European market;
- loyal taxation;
- simple registration procedure;
- many government benefits;
- lack of currency control.
Do you want to conduct business under English law and with access to the EU market? All you need is to set up a company in Cyprus through Lawrange services.
FAQ
The cost of company registration in Cyprus
The price of registration of the enterprise is 2500 euros.
What do you need to register a company in Cyprus?
For registration, copies of your passports and three options for the names of the organization are required. We prepare all other certificates ourselves.
Advantages and disadvantages of jurisdiction
Pluses of Cyprus: minimum taxes, access to the EU market and the absence of currency control. Nuance: recently, a number of states have been conducting strict control in cooperation with offshore companies, but it is worth remembering that the Republic of Cyprus is not an official “free harbor”.
