Name of the company (send us 3 possible options) - 1 week
Set up the Company - 2 months
Requirements to setup LTD. company:
✅ Office with real address✅ Nominal secretary (local resident)
✅ Having a director/shareholder (can be any person, regardless of their citizenship or place of residence)
✅ Minimum number of shareholders is one, a maximum is fifty. After opening a company in Cyprus, its shares cannot be immediately sold to the general public
✅ Minimum value of each share is 1 EURO. Share denominations may be in euros or any other international currency
✅ The minimum capital amount is 1 EURO. Capital tax is 0,6% and paid only once
✅ The minimum number of directors is 1. A maximum number of directors is not prescribed by law. Directors must be local tax residents
Documents required to register a company:
✅ Registration certificate✅ Photocopies of shareholders’ passports
✅ MOA (Memorandum of Association) and a Charter (agreement governing relations between shareholders)
✅ Name in the Register
✅ Bank statement
🏦 Corporate Bank Account - 4 weeks
Requirements:
✅ 2 year employment contract✅ Min salary 2,500 Euro
✅ Accommodation *rent contract
Documents:
✅ Employment Contact✅ Passport
✅ Rent Contract
✅ Health insurance
🏦 Personal Bank account - 2 weeks
Requirements:
✅ Legal Status in Cyprus - Residency✅ Accommodation
Documents:
✅ Residency & Passport✅ Rent agreement + Bills
🏦 Additional Expenses:
Approximate accommodation budget 1,000 - 1,500 Euro per month payable directly to a landlord + utility bills.
Approximate cost of doing business in Cyprus:
✅ Annual government fee - 350 Euro
✅ Office space per month - > 500 Euro
✅ Annual audit & tax filing - 1,400 Euro
✅ Nominal secretary per year - 1,000 Euro