The cost of opening a company in Cyprus varies depending on the type of company and its size, but it can range from €1,000 to €5,000.
So let us take a deeper look
When it comes to opening a company in Cyprus, the cost can vary depending on the type and size of the company. However, there are certain expenses that need to be taken into consideration.
Firstly, there is a registration fee that ranges from €105 to €1,020 depending on the type of company you are registering. This fee is paid to the Registrar of Companies.
Secondly, if you are registering a limited company, you will need to have its memorandum and articles of association drawn up by a lawyer. This can cost between €800 to €1,200.
Thirdly, there is a fee to register with the Cyprus Tax Department, which can range from €150 to €300.
Additionally, if you require the services of an accountant or a business advisor, this will incur extra costs that will depend on the level of service provided.
Overall, the cost of opening a company in Cyprus can range from €1,000 to €5,000, depending on the aforementioned factors.
According to Invest Cyprus, “Cyprus offers a very appealing tax system, one of the lowest corporate tax rates in Europe with a corporate tax of 12.5% which is universally applicable to all companies.”
Furthermore, Cyprus has an extensive network of double taxation agreements with over 60 countries.
Here is a breakdown of the costs for opening a limited company in Cyprus:
|Memorandum and Articles of Association||€1,000|
|Registration with Cyprus Tax Department||€300|
In conclusion, while opening a company in Cyprus can be costly, it offers appealing tax rates and benefits that can make it worthwhile for entrepreneurs looking to do business in Europe.
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Some additional responses to your inquiry
What Are The Fees Involved in Registering a Company in Cyprus?
- Registration Fee This fee is paid only once, and it is for the company’s creation. Many companies in Cyprus shell out €1200 to €3000 for the registration, and this amount varies depending on the service provider.
- Annual Fees This is a recurring fee that you need to pay.
- Accounting and Audit Fees
- Annual Expenses Paid to the Registrar of Companies
I’m sure you’ll be interested
In respect to this, How to open a corporate bank account in Cyprus? Answer will be: In order to open a corporate bank account in Cyprus, the company’s Articles of Association and information about the company must be submitted with the selected financial institution. The procedure can take a few weeks, however, this is also the case of other European countries. Business licensing requirements for LTDs in Cyprus
In this manner, What types of companies can be established in Cyprus?
There are various types of companies which can be established in Cyprus. The simplest business form is the sole proprietorship, while the more complex ones imply the private and public limited liability companies, shortly known as LTDs. Below, our Cyprus company formation consultantsprovide detailed information on the limited liability company.
Also question is, How to set up an Ltd in Cyprus? As a response to this: Setting up an LTD – a procedure presented by our Cypriot company formation agents The first step when setting up an LTD in Cyprusis to prepare the required documents. A lawyer in Cypruscan help you at this stage. The investor then proposes a company name and submits an application for approval with the Companies Registrar.
Just so, Can a holding company be created as a limited liability company in Cyprus? Response will be: Holding companies can also be created as limited liability companies in Cyprus. Our company registration representatives in Cypruscan help you open a limited liability company and also give you information about the other types of companies available in the country. The Cyprus LTD as a shelf company
Similarly one may ask, How much does it cost to incorporate a company in Cyprus? The response is: Our fees for incorporating a Cyprus company start at €1.500 plus 19% VAT if applicable. These fees include the incorporation costs and certified documents issued by the Registrar of Companies (ROC). 2. The annual fees for nominee services Annual fees include the fees for the services of nominees, secretary and registered office.
Simply so, How to open a corporate bank account in Cyprus?
Answer will be: In order to open a corporate bank account in Cyprus, the company’s Articles of Association and information about the company must be submitted with the selected financial institution. The procedure can take a few weeks, however, this is also the case of other European countries. Business licensing requirements for LTDs in Cyprus
People also ask, How to set up an Ltd in Cyprus?
Setting up an LTD – a procedure presented by our Cypriot company formation agents The first step when setting up an LTD in Cyprusis to prepare the required documents. A lawyer in Cypruscan help you at this stage. The investor then proposes a company name and submits an application for approval with the Companies Registrar.
How much does a Cyprus shelf company cost?
Express incorporation fee. Cyprus shelf company is already incorporated and is designed for those clients that wish to start their business immediately and require Cyprus based directorship and shareholder services. Such companies are available for immediate purchase from € 2070. Cyprus company formation.