We offer efficient and speedy services with flexibility, responsibility and personal care for the client.
We deal with all matters relating to the registration, establishment and operation of Cyprus legal entities including companies, offshore banking units, offshore trusts, captive insurance companies, partnerships, representative offices of banks, overseas corporations, branches of overseas companies.
We also deal with all matters relating to the registration of ships under the Cypriot flag, the incorporation and use of ship owning companies and the registration of securities on ships.
We advise on the regulatory framework and fiscal considerations relating to the operation of companies including the substantial tax advantages and other reliefs and benefits which derive from domestic Cyprus legislation and from Cyprus double tax treaties.
We provide full company support and management services.
We provide nominee shareholders, local directors and secretary, registered office address, accounting and auditing services, registration with the tax and VAT authorities, obtaining of Tax Residence Certificates.
We advise and assist in the opening and operation of corporate and personal bank accounts in any currency with local banks.
Our staff will be very happy to give you any further information or explanations you may require. Your enquiries will be given our personal attention and confidentiality will be maintained at all times.
Formation costs and annual maintenance charges
The normal setting up cost is € 1,500 and the annual maintenance charges including nominee Directors, Shareholders, Secretary and Registered Office is € 1,000.
With the above charges we deliver the company with company seal and stamp and with full corporate documents certified by the Registrar of Companies and if necessary duly apostilled and notarized and with Power of Attorney to operate the company and also Board resolutions for opening of bank accounts.
Questionnaire for the Registration of a Cyprus Company
If, without commitment at this stage you want to speed up the process of registration of a Cyprus Company once you decide to proceed, please fill in the questionnaire below. The information requested is necessary for the registration of a company in Cyprus and will be treated as STRICTLY CONFIDENTIAL.
Please remember to provide us by fax or scanned copies for each owner/shareholder of the company, copy of the passport (pages showing personal details and photograph) and, in case of a legal entity, certificate of incorporation and address of the registered office. Any information which you are currently not sure of, please leave empty, and we will contact you to help you with the registration.
The Cyprus Holding Company
We have unrivalled expertise in advising clients on strategic cross-border investments through the use of Cyprus holding companies especially used for Russia and ex CIS and Eastern European countries.
Cyprus is most commonly used as an intermediate holding company jurisdiction and is of particular interest in the following circumstances:
- for international or domestic groups investing outside Cyprus, aiming at dividend income streams. In most cases such dividends will be tax exempt in Cyprus
- to hold subsidiaries that have scope for significant capital appreciation and that may be spun off or sold in the future. Such disposals are not taxable in Cyprus
- to benefit from the favourable withholding tax provisions of the Cypriot double tax treaties network and the EU parent-subsidiary directive and other EU directives
- where a jurisdiction is required that does not have controlled foreign company legislation
where it may be important to achieve a tax free unwind of the holding company at some stage in the future
to avail of the easy exit strategy under Cypriot law which allows payment of dividend, interest and royalties (in most cases) without payment of withholding tax
- appropriate for any fund or investment vehicle, as there is no tax on transactions in securities as defined, even if this is the trading activity of the entity
Cyprus can also be used as the location for the ultimate holding company, for instance in a group that is relocating to a new jurisdiction or on formation of a new publicly traded corporation with international operations.
Taxation of Trading Income
Trading income is taxed at the rate of 12.5%.
Taxation of Dividend Income
Dividends and other profit distributions received by a Cypriot tax resident company from another Cypriot tax resident company are exempt from Corporation Tax.
Cyprus does not have controlled foreign corporation legislation. As a result, no income is imputed to a Cypriot parent even if the income arises in a tax haven or out of passive activities.
Cypriot tax legislation does not contain thin capitalisation provisions.
Setting-Up a Cypriot Holding
Although there are no restrictions on the legal form of the holding company in Cyprus, the most commonly used form is the private limited liability company.
There are no legal requirements as to the minimum or maximum share capital of the company. However, it is recommended that the authorised share capital be at least Euro 5.000 that may conveniently be divided into 5.000 shares of 1 Euro each. Not all of these shares have to be subscribed for, but it is recommended that at least 1.000 shares are issued and fully paid upon incorporation.
Under Cypriot law, every company limited by shares must have at least one shareholder.
Companies are managed and controlled by the board of directors. Under Cypriot Company Law, a Cypriot private company must have at least one director. In all other cases at least two directors are required.
Under Cypriot tax legislation, the management and control of a company determines the tax status of the company. Therefore, where the board meets is significant for tax purposes.
The formation and registration procedures can normally be completed within a period of one week.