Setting Up a Company
in Cyprus

Setting up a company in Cyprus has been a serious business topic for many years, as the country is an official offshore zone of the European Union and at the same time offers the most loyal European tax conditions and clear legal requirements. There is no strict financial control and interference with confidential materials by the government.

A company developing in such an environment receives favourable conditions for scaling and successful business management. In addition, it is not necessary to become a resident of Cyprus for business management, as there is a type of organization, which may be administered from abroad. However, accounting and financial reporting must be prepared early. After registering a company, you need to open a bank account in Cyprus.

Setting up a company in Cyprus as of now is quite simple, as the procedure does not require a personal presence. However, a detailed knowledge of the nuances of the tax legislation of the country is required. Thus, professional legal assistance is highly recommended.

In addition, Cyprus companies have a number of advantages:

• Corporate tax rate is 12.5%, VAT rate is 19%.
• As Cyprus entered into more than 40 treaties on avoidance of double taxation with different countries, if the company is operated by a non-resident, taxes in Cyprus are not paid.
• The island country is not on any blacklist of offshore jurisdictions.
• The Cyprus VAT number allows to freely cooperate with any EU country.
• When opening a company, there is a chance to quickly obtain EU citizenship (in 4-5 months), which gives the right to visit more than 150 countries without visa.
• No need to actually contribute (pay) the amount of the authorized capital.

You can buy an offshore in Cyprus when the time is of the essence. So-called ready-made companies that are incorporated in advance are constantly offered here. Registration of a company takes up to 2 weeks, while purchase can be done as soon as possible for up to 3-4 days. The mentioned operations do not require the personal presence of the beneficiary, which is an undeniable advantage.

PCG provides all kinds of services related to the company registration in Cyprus. Professionals thoroughly monitor changes in Cyprus tax law and offshore policies. With the help of our specialists, you can register a company with no doubt regarding the quality of the work. The cost of certain particular services provided below.

For extensive advice regarding the purchase or setting up a company in Cyprus, contact Protey Consulting Group. Prompt and competent solution of your issues is guaranteed.