Shelf Companies in Cyprus
Effortless Business Launch with Taurus Legal Group
Cyprus offers excellent opportunities for business, and Taurus Legal Group is here to make your market entry seamless. Our selection of shelf companies provides you with a fully compliant entity ready for immediate operation. We handle the due diligence, ensuring a clean financial history and compliance with all local regulations. Let us help you start your Cypriot business on a solid foundation and avoid the usual startup delays.
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Advantages of registration of business in Cyprus:
Low tax
Cyprus is a low tax jurisdiction with a corporate tax rate of 12.5%.
Not offshore
Cyprus is not offshore and is not included in the list of offshore countries, including Ukraine.
Residence permit
Non-residents have the opportunity to obtain a residence permit in Cyprus.
Developed port infrastructure
The island has a developed port infrastructure and provides access to both the European and Asian markets.
Double tax treaties
Cyprus has a wide network of double tax treaties with over 65 countries, including Ukraine.
No currency control
There is no currency control in the jurisdiction, which makes it easier to do business.
The banking sector
The banking sector in Cyprus is developed and includes world banks. Opening or buying a Cypriot company is suitable for a wide range of activities, including trade and the IT sector.
VAT
The purchase of personal property in Cyprus is subject to a reduced VAT rate of 5%. Registering a company and opening a business account does not require a physical presence on the island.
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Cyprus taxes
Before opening a business in Cyprus, it is important to know that only companies that are tax residents of the island with local management and control are subject to taxation.
Under the new rules, starting in 2023, a company registered in Cyprus will automatically be considered a tax resident if it is not a resident of another country. This means that the company will be subject to taxation in Cyprus.
Taxation in Cyprus is considered one of the most favorable in Europe. This means that companies can enjoy preferential tax terms and benefits.
However, when planning a business in Cyprus, it is important to take into account all tax requirements and rules in order to be in compliance with the law and avoid potential problems.
12,5%
Corporate tax
19% (reduced rates: 9%/5%/0%)
VAT
20%
Capital gains tax
0%
Inheritance tax
8,3%
Contribution to the social insurance fund
350 EUR
Annual fee for legal entities
Company Forms
Foreign citizens in Cyprus have the opportunity to register various legal structures such as trusts, funds, foreign representations, investment funds, partnerships and limited liability companies. However, for international business purposes, the most appropriate option is a Limited Liability Company (LTD).
Legal requirements
- The minimum declared authorized capital for registering a company in Cyprus is 1000 euros, and its payment is not mandatory.
- A natural or legal person can act as a director of the company, and there are no requirements for his residency.
- The company may have at least one shareholder, who may be an individual or a legal entity, and does not have to be a resident of Cyprus.
- A resident secretary is mandatory and the provision of a nominal secretary is possible.
- The register of beneficiaries is open, and when registering a company, it is necessary to provide data on the beneficiaries for their inclusion in the register.
- Available information about the company includes the name, legal address, information about the director, shareholder, secretary and the amount of the authorized capital.
- There are no requirements for finding a real office in Cyprus.
- The legal address of the company must be in Cyprus.
- Companies can engage in licensed activities in the areas of banking and insurance business.
Legal requirements
The following documents are required to start the Cyprus company registration procedure:
Three preferred company names.
Description of the areas of work that the future company will be engaged in.
A copy of the national and foreign passports of the shareholder (owner of the company).
Proof of shareholder registration address, such as a utility bill or other proof of residence.
Proof of attorney’s registered address, if available, a utility bill or similar document may also be provided.
These documents are required to start the Cyprus company registration process. However, it should be noted that specific requirements may vary depending on the type of company and other factors.
Required documents
The following documents are required to start the Cyprus company registration procedure:
- Three preferred company names.
- Description of the areas of work that the future company will be engaged in.
- A copy of the national and foreign passports of the shareholder (owner of the company).
- Proof of shareholder registration address, such as a utility bill or other proof of residence.
- Proof of attorney’s registered address, if available, a utility bill or similar document may also be provided.
These documents are required to start the Cyprus company registration process. However, it should be noted that specific requirements may vary depending on the type of company and other factors.