Cyprus Resident Company Formation
Cyprus, officially the Republic of Cyprus, is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean. It is located south of Turkey, west of Syria and Lebanon, northwest of Israel, north of Egypt, and southeast of Greece. Cyprus Resident Company is a valuable entity in this strategic location.
As a former British Colony, English is a second language spoken, with 80% of the population being relatively fluent speakers. The legal system is structured on its English counterpart. It is based on common law, making it conducive for establishing Cyprus Resident Companies, which benefit from this legal framework.
The Republic of Cyprus is a free-market economy providing vast opportunities for international business and efficient tax planning. The extensive network of double tax treaties, first-class legal and accounting services, and ideal conditions make Cyprus an attractive destination for Cyprus Resident Companies to conduct business, invest, and trade within European territory.
Cyprus Limited Companies are not considered offshore companies, showcasing the legitimacy and transparency of Cyprus Resident Companies within the country.
Cyprus company formation allows entrepreneurs to conduct business internationally and within Cyprus with one of the lowest corporate tax rates in the European Union – 12.5%. Cyprus Resident Companies enjoy this competitive tax advantage.
In addition to the favourable corporate tax rate, Cyprus offers a 19% VAT rate, making it an advantageous location for businesses, including Cyprus Resident Companies.
Another benefit for Cyprus Resident Companies is the 0% withholding tax on dividends repatriated to a non-resident shareholder, whether individual or corporate, enhancing the attractiveness of Cyprus as a business destination.
Cyprus Resident Companies are well-positioned to leverage the strategic location of Cyprus, serving as a bridge between Europe, Asia, and the Middle East for international trade and investment.
Establishing Cyprus Resident Companies aligns with Cyprus’s commitment to providing a business-friendly environment that fosters economic growth and development.
Cyprus Resident Companies contribute to the economic vitality of Cyprus and play a pivotal role in the country’s status as a hub for international business and investment in the Eastern Mediterranean.
The presence of Cyprus Resident Companies enhances Cyprus’s reputation as a premier destination for entrepreneurs and businesses seeking to establish themselves within the European market and beyond.
For additional information about Cyprus Resident Company, you can check the site Consil Formation.
Advantages of Cyprus Resident Company:
If you are interested in the Cyprus Resident Company Formation, you can contact us any time.
Summary of Cyprus Resident Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Private Company limited by shares |
| Corporate Legislation | The Cyprus Bar Association is the governing authority and companies are regulated under the Cyprus Companies Law, Cap. 113. Legal system: Common Law |
| Taxation | Standard Corporation Tax – 12.5% Tax on Dividends for foreigners – 0% Standard VAT rate – 19% |
| Currency | Standard Currency EUR€ Commonly used currency of shares capital EUR€ |
| Paid up capital requirement | No paid up capital required |
| Time zone | GMT (UTC) +2 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No, but in order for the company to be tax resident in Cyprus – Yes (can provided by Consil Formation) |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Optional (can provided by Consil Formation) |
| Local Secretary required | No, but in order for the company to be tax resident in Cyprus - Yes |
| Registered office required | Yes |
| Share Capital | |
| Standard Currency | EUR€ |
| Standard Authorized Capital | 1000 EUR€ |
| Minimum paid up capital | No |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | Yes |
| Accounts public accessible | Yes |
| Requirement to file Annual Return | Yes |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Cyprus Resident Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.