Cyprus Company Formation

Procedure to prepare the registration of a company in Cyprus

The registration process of a company in Cyprus is very simple. The experts of LegalBison will assist you throughout every step of it:

• Initial consultation and agreement;
• Payment of the full invoice;
• [IF REMOTELY]: Notarization of POA by client;
• Preparation of registration documents;
• Document signed at the notary;
• Official register validity: immediately.

How long does it take to form a company in Cyprus?

It takes about 5-10 working days to register a company in Cyprus. When done remotely, the process tends to be closer to 10 days (2 business weeks).

Can I form a company in Cyprus remotely?

The whole incorporation process can be conducted remotely. No travel is necessary. However, notarization of documents is necessary.

• A Power of Attorney (POA) from (all) partners/shareholders is needed;
• The POA is sent to you by us based on the services you want;
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization);
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address;
• Cyprus is part of the Hague Convention of the Apostille.

Necessary information to begin with company formation in Cyprus

• 3 options of your desired name for the company and a company contact email address;
• Names, addresses, and emails of all shareholders and board members;
• Short description of your company’s activity.

Without VAT number in Cyprus

Your company will not be eligible to receive VAT refunds, which means everything bought is 19% more expensive (important: B2B payments between two VAT-exempt companies are not more expensive).

Your company will not have to file monthly tax returns (prerequisite: no one receives a salary), which means low costs.

With VAT number in Cyprus

The company will be eligible to receive VAT refunds, which means you can make use of the reverse-charge mechanism. Monthly tax returns have to be filed, even if no transactions occur.

It is possible to be granted a VAT number for a Cyprus limited company: a request has to be filed with the Cyprus tax administration.

Before we help you to apply for a VAT number you should carefully think about the advantages and obligations that go along with it. Registering as a VAT payer might be either voluntary or obligatory, depending on the turnover.

Required documents to provide to register a company in Cyprus

• Passport copies (scans) of shareholder/s and director/s, also beneficiary owner if applicable;
• A Power of Attorney (in case of a remote company registration);
• Certified company documents (in case at least one of the shareholders is going to be a foreign company).