Information on Cyprus Companies

Cyprus has, especially after EU accession in 2004, rapidly developed into one of thye most prominent financial centres in Europe. Cyprus has one of the lowest corporate tax rates in the EU (12,5 %), a close to perfect tax exemption system for holding company income and double tax treaties in place with around 45 countries. Cyprus does not levy any withholding tax over outbound dividends or interest. There is normally no withholding tax over royalties either. Cyprus is a politically and economically stable country where English, being one of the country’s official national languages, is widely spoken.

  • Currency: Euro
  • Language: Greek
  • Type of law: Common law
  • Type of company: Limited Liability Company (LLC)
  • Principal Corporate Legislation: The companies Law Chapt.113 and The Income Tax laws of 2002. The Special Contribution for Strengthening the defence of the Republic laws
  • Uses: Holding, servicing, financing, licensing and (other) trading , portfolio investment  and investment fund activities , subject to possible restrictions as below
  • Trading Restrictions: Certain activities cannot be undertaken unless a license has been obtained. This includes banking, insurance and other financial services
  • Company Name: Previous approval required. Application rejected if the name is the same or very similar to existing company name.
  • Language of legislation and corporate documents: Greek
  • Taxation: The LLC is subject to income tax over its worldwide income from sourses specified within the Income Tax laws of 2002
  • Annual license fee: 350 euro
  • Double Tax Treaty Network: Party to double tax treaties with around 45 countries (as per end 2010)
  • Registered Agent/Office: Must maintain a registered office address in Cyprus
  • Shareholders: Minimum Number: One
  • Publicly accessible records: Yes
  • Disclosure of Beneficial Owner: Not publicly available
  • Directors: Minimum: One
  • Nationality: No restriction
  • Publicly accessible records: Yes
  • Location of meetings: Anywhere, from tax point of view usually advisable to be in Cyprus
  • Secretary: Local (not a legislative requirement but practically necessary)
  • Share capital: No minimum required
  • Annual Reporting: Must file Annual Return and Annual Accounts. Filing of audited accounts is required for income tax purposes.