Comprehensive Guide to Registering a Cyprus Company: Formation, Maintenance & Business Setup

If you’re considering doing business in Cyprus or starting the process of Cyprus company formation, it’s essential to understand the available structures and requirements. Cyprus offers several options tailored to different business needs: 

Types of Business Structures in Cyprus 

• Cyprus Company Registration – Establish a private limited liability company with full flexibility and operational freedom. This is the most commonly chosen form. 
• Cyprus Branch of a Foreign Company – Open a branch in Cyprus for your foreign-registered business. 
• Representative Office – Set up a non-trading presence to promote or support a foreign company. 
• Cyprus Partnership Formation – Choose between general or limited partnership structures. 
• Sole Proprietorship – An option for individual entrepreneurs. 

Among these, forming a Cyprus limited liability company is the most popular due to its structural advantages and broad acceptance in international markets. 

When considering business opportunities in Cyprus or embarking on the journey of Cyprus company formation, it’s essential to factor in the specific needs of your enterprise. Cyprus offers a range of options, including: 

1. Cyprus Company Registration: This allows you to establish a limited liability company, providing the utmost freedom and flexibility. 
2. Cyprus Branch of a Foreign Company: Registering a branch of your foreign company in Cyprus. 
3. Representative Office of a Foreign Company: Setting up a representative office in Cyprus. 
4. Cyprus Partnership Formation: You can choose between general or limited partnership structures. 
5. Sole Proprietorship: Another available option for business operations. 

Among these options, registering a Cyprus company as a limited liability company is the most favored due to its flexibility. 

 

Requirements for Cyprus Company Formation 

For the successful registration of a Cyprus company, the following requirements should be met: 

1. Cyprus company formation – name
2. Company Name: Although you need only one approved company name, it’s advisable to provide at least three options in order of preference to avoid delays.
3. Documentation: Complete information, including full names, addresses, professions, nationalities, percentage of shareholding (if applicable), and relevant documentation, should be provided for the directors, shareholders, and secretary.
4. Registered Address: We can assist you in obtaining a registered address for your Cyprus company.
5. Business Activities: Provide a comprehensive description of your company’s activities for proper registration.

 

Practical Steps for Cyprus Company Registration 

The process of registering a Cyprus company involves several steps:

 

Name Approval: Apply for the approval of your company’s name to the Cyprus Registrar of Companies. The name should be distinctive and not too general. Our firm maintains a list of pre-approved names for your convenience.

Before Cyprus company registration, an application for approval of the name of the Cyprus company should be submitted to the Cyprus Registrar of Companies.  As a choice, our firm maintains a list of already approved names. Choosing one of the names on the list can reduce the time to set up a Company in Cyprus.  

The general principle of the name should be such that a similar name does not exist; the name is not too general and should not contain words like “Cyprus bank, European, Trustee, Cyprus, trust, Cyprus company, Cyprus fund, International, etc. as it will require justification. Once the name of the Cyprus company has been approved, Cyprus allows reserving the name for six months.

 

Legal Documentation: Prepare legal documents, including the memorandum and articles of association, which should specify details such as share capital, shareholders, and directors.

Preparation of legal documents, including the Cyprus company memorandum and articles of association in the Greek language. For the preparation of relevant documents and the Cyprus company’s memorandum and articles of association, the following must be provided: 

• The Cyprus company’s share capital. To register a Cyprus company, there is no minimum or maximum capital requirement. We recommend that the minimum share capital of a Cyprus company be €1.000. 

• Cyprus company shareholders and the portion of shares to be held by each shareholder. Each Cyprus-registered company must have as a minimum one shareholder holding 100% of the Cyprus company shares. If the shareholders more than one shareholder, the portion of each shareholder should be provided. 

• Directors. Each Cyprus-registered company must have at least one director. As all decisions should be made in Cyprus, it is recommended that the majority of the Directors reside in Cyprus. 

 

Statutory Declaration: A statutory declaration by a lawyer is required for registration. It is prepared, signed, and sworn before the court.

 

Submission to Registrar: Submit all legal documents, including the Cyprus company memorandum and articles of association, to the Cyprus Registrar of Companies.

To register a company in Cyprus, relevant completed forms together with the Cyprus company memorandum and articles of association, and a lawyer’s statutory declaration are submitted to the Cyprus Registrar of Companies.  

A certified translation of the memorandum and articles of association in a language other than Greek, either by an affidavit or by a sworn translator of the Republic of Cyprus, is necessary in case there is a need to create a file of translations for obtaining certified copies of the memorandum and articles of association in a foreign language. 

 

Publication and Certification: The Registrar will publish the company’s registration in the Official Gazette of Cyprus and issue a certificate of incorporation.

Cyprus company Certificates can be obtained after Cyprus company registration 

The following certificates/certified copies of the Cyprus company are available and can be obtained upon application: 

• Cyprus Company Certificate of Shareholders 

• Cyprus Company Certificate of Directors and Secretary 

• Cyprus Company Certificate of the Registered Office Address 

• Cyprus company certified copy of the Memorandum and Articles of Association 

• Cyprus company certified copy of the Certificate of Incorporation 

 

 Registration of Ultimate Beneficial Owner (UBO register in Cyprus) of the Ultimate Beneficial Owners Register after Cyprus company registration 

Upon completion of the Cyprus company registration, the Ultimate Beneficial Owners must be registered in the Register of Ultimate Beneficial Owners (UBO register in Cyprus) kept by the Registrar of Companies of Cyprus.  

Registration can be achieved by first registering the Cyprus company with the Cyprus Government Portal (Ariadni). The registration and authentication are executed in person by the company’s officials, stating the company’s corporate email. If the identification of the owners of the company can lead to any negative consequences, it is necessary to preserve the anonymity of the data. 

An application for registration must be submitted within 90 days from the date of Cyprus company incorporation.

 

Cyprus Company’s Seal and Stamp

Upon completion of the Cyprus Company registration, arrangements for the Cyprus Company’s Seal and Stamp should be made.

 

Cyprus company registration with the Cyprus Tax Department and obtaining a tax identification number

Once the Cyprus company registration has been completed, the Cyprus company is obliged, within sixty (60) days from the date of its incorporation, to apply for Taxpayer’s registration with the Tax Department and to obtain a tax identification number. 

For a Cyprus company to obtain a tax identification number, the TD 2001 form must be submitted electronically and signed by one of the directors. The TD 2001 form should also include an e-mail address. We recommend that the service provider’s email be used so that they can follow up on the application. The TD 2001 form should be accompanied by the following: 

• Certificate of Directors and Secretary of the Cyprus Company 
• Certificate of Registration of the Cyprus company 
• Identity Card / Passport of the Director signing the application 

The Cyprus company is then registered to have a tax identification number (TIN). The tax department of Cyprus replies with an email providing a Cyprus company tax certificate together with a unique identifier number for subsequent online registration (Tax Department portal).

 

Cyprus company registration with VAT Service and obtaining a VAT number

An individual or legal person residing or is registered in Cyprus, that has made taxable supplies of goods and services within the last twelve (12) consecutive months or will be making such taxable supplies of goods and services over the amount of €15.600 in the next thirty (30) days, is required to register to obtain a VAT number and submit VAT tax returns. 

To obtain a VAT number, the TD 1101 form must be submitted together with a questionnaire. The application should be submitted both electronically and in its original form. The Cyprus Company VAT Certificate can be obtained electronically once the company has been registered. 

 

Cyprus company registration as an Employer

If the Cyprus company is to become an employer, every employer is required to register with the ` Social Insurance Services by submitting the relevant application form. The company is also required to register with the Cyprus Social Insurance portal “Ergani” to register and deregister employees. 

 

Time required to register a Cyprus company and other initial formalities 

It will take approximately one and two weeks to register a company in Cyprus. 

It will take approximately another one or two weeks for the Cyprus company’s seal and stamp arrangements to register Ultimate Beneficial Owners with the Cyprus Registrar of Companies (UBO register in Cyprus), and register the Cyprus company with the Cyprus Tax department and obtain relevant tax identification numbers. 

 

Receive a quotation to register a Cyprus company 

To register a company in Cyprus or to receive a quotation for the formation of a company in Cyprus, please download and complete the ” Cyprus company formation form” by clicking on the link below, and send it by email to [email protected] 

Cyprus company formation form 

Reach out for expert help with tax, accounting, audit, or company setup in Cyprus.

+357 99 108 510

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