Cyprus

Who We Are

Business Setup Worldwide is a platform to help you set up your business. Right from incorporation, registration and licensing to establishing your office space, we facilitate the formation of your enterprise through expert counselling and incubation.

Strong commitment to professionalism, comprehensive capability across various segments of disciplines, proactive and continuous learning in ever changing global environment, and the ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Business Setup Worldwide, and provide the competitive edge in ensuring business growth.

Business Setup Worldwide's proprietary business design techniques, combined with its specialized regional know-how and global reach, enable companies to anticipate changes in customer priorities and the economic market, and then mould their businesses and improve operations to make use of opportunities created by those changes.

Business in Cyprus

Cyprus is situated in the Eastern Mediterranean – at the crossroads of the 3 continents of Europe, Asia and Africa. Now that Cyprus has joined the European Union, it is fairly more connected to the other EU nations in terms of trade and business expansion. The main export partners of Cyprus are Greece, Ireland and the UK, while its main import partners are Greece, the UK and Italy. The tax regime of Cyprus is fully compliant with the EU and the Organization for Economic Co-operation and Development (OECD) requirements against harmful tax practices. Most of the businesses set up in Cyprus by foreigners are in the domain of leisure, catering and real estate.

Company Incorporation

A company can be incorporated in Cyprus in one of the following ways.

  • Private Limited Company (LTD): In a Cyprus private limited company, called LTD, the liability of partners is limited to the value of their subscribed shares. Setting up such a company requires just 1 director (of any nationality), who can also be the sole shareholder of the company. The number of shareholders for an LTD can be no more than 50. For an LTD, it is not mandatory to appoint a resident director. But, if the LTD is to take advantage of the 10% corporate tax rate, it should have a director who is resident of Cyprus.
  • Public Limited Company (PLC): For a PLC, there is no restriction on the maximum number of members. A PLC is required to appoint at least 1 director and 7 shareholders (of any nationality) for incorporation. In addition, a company secretary is also to be appointed.
  • Branch of a Foreign Company: Any foreign company can set up its branch in Cyprus. A foreign company branch is required to appoint a minimum of 1 corporate agent who is a resident of Cyprus, for accepting notices on behalf of the company. If the branch is not tax-resident in Cyprus, its profits are tax-exempt.

Benefits of Company Incorporation in Cyprus

Setting up a company in Cyprus is beneficial from the following standpoints:

  • Cyprus has double tax treaties with over 40 countries, thus doing away with double taxation on profits of foreign companies.
  • Corporate tax rate in Cyprus is one of the lowest in the EU – just 12.5%. In addition, income from dividends and profits from overseas establishments are not liable for tax.
  • The incorporation process in Cyprus is very simple and straightforward. There is no restriction on the nationalities of the director or the shareholder.
  • The legal and regulatory system in Cyprus is robust and pro-business.

Why Us?

Company formation in Cyprus offers considerable tax exemptions, modern amenities, a robust regulatory system and free trade barriers. Business Setup Worldwide helps businessmen, entrepreneurs and investors establish their company in Cyprus through consulting, accounting and bookkeeping, and intellectual property services. Our experts take care of the entire Banking, Visa, Legal, and Licensing formalities, and allow corporates to enjoy their company formation process without worrying about the bureaucratic red tape and legal formalities. We guide you through your company formation, with your business objectives at the centre of our ecosystem, all the way.

Business Setup Advisor

Andreas Iacovou

6AB Zenonos Sozou Str

1075 Nicosia

Cyprus

 

Phone: +357 22 312400

Email :  info@businesssetup.com

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