A company registered in Cyprus is the ideal solution for trading in the EU, as well as anywhere in the world. Cyprus is regular EU member and local companies pay tax of 12.5%, which is among the lowest tax in the EU. At least one director is required (a natural person or corporate body) and at least one shareholder (natural person or corporate body). If for any reason you do not want to appear as the director and/or shareholder, you can use a nominee director and/or shareholder.
A filled in and signed order is required, as well as a copy of a passport and a document with the name and address not older than three months.
If the majority of the company directors are Cypriot non-residents, the company is considered a Cyprus tax-non-resident in Cyprus and does not pay any income tax. A tax-non-resident company cannot obtain a Certificate of Tax Residence (acknowledgement issued by the Cypriot authorities that all the income of the company achieved anywhere in the world is taxed in Cyprus). Therefore, most clients use the possibility of nominating a local director into the company so it can get a Certificate of Tax Residence, if necessary.
The costs of establishing a Cyprus company, the registered office of the company, a secretary, standard documents, including Apostille, share certificates, stamp, letterhead paper and delivery by courier are EUR 2,500.
The costs for additional years , i.e. leasing a registered office, administration fee and a local office are EUR 1,800 + Annual Levy EUR 350.
Resident, as well as non-resident companies must prepare and file an audited Financial Statement each year. The costs for preparing, submitting and translating vary from EUR 1,500 and more according to demand.
Optional services to keep directors and shareholders anonymous:
Nominee director (natural person), one General Power of Attorney (POA) verified by a notary and apostille and an undated resignation costs EUR 650 a year.
Nominee shareholder (corporate body), including a Declaration of Trust and an Instrument of Transfer of Shares costs EUR 650 per year.
Other optional services: VAT registration EUR 400.