Services · Company formation

Company registration in Cyprus

Updated 7 October 2026

An EU company with 15% corporate tax and English-style company law. We register it, open the account and handle reporting and audit.

Cyprus is an EU country with English-style company law, a wide network of double tax treaties and company registration through the Department of Registrar of Companies. From 1 January 2026 the corporate tax rate rose from 12.5% to 15%, still one of the lowest in the EU. Below: what it costs to open a company, how registration works, which taxes and duties follow and why companies run into refusals.

Who a Cyprus company suits

A Cyprus company is chosen as a holding to own shares and receive dividends, for trade and services in the European Union, for developing software and owning the rights to it, and for shipping and investment business. Its strengths are English-style company law, a network of tax treaties and audited accounts that banks understand.

Cyprus does not suit a company that will be run from another country: without directors and decisions on the island it loses tax residence. For a small turnover, the mandatory audit and maintenance can cost more than the rate saves.

Requirements and documents

A private company needs at least one director, one shareholder, a secretary and a registered office in Cyprus. The law sets no minimum share capital. The memorandum and articles are filed by a Cyprus lawyer.

• passports and proof of address for directors, shareholders and beneficial owners;
• source of funds documents and a description of the planned business;
• for a corporate shareholder, constitutional documents and a register extract with an apostille;
• several name options for approval;
• data for the beneficial owners register.

How much it costs to open a company in Cyprus

• State fee for registering a private company with share capital: about $190. Express registration costs an extra $120 or so.
• The annual levy of the Registrar was abolished from 2024 by the Companies (Amendment) Law 25(I)/2024, so the state no longer charges simply for the company's existence.
• Our work: the base package at €4,400, about $4,930; the package with bank pre-approval at €8,600, about $9,636; annual financial statements and audit at €2,700, about $3,026. Every item is listed in the table below.

Our prices are converted to dollars at the European Central Bank rate of 5 October 2026 and state payments at the Central Bank of Russia rate of 7 October 2026, rounded up. A manager will calculate the total for your ownership structure in the chat.

How registration works

1. Reviewing the business. We work out why you need the company, where it will be managed and tax resident, and whether staff and an office in Cyprus are needed.
2. Owner checks. We check the owners and source of funds; neither the Registrar nor the bank works without this.
3. Name. We clear the name with the Registrar.
4. Memorandum, articles and registration. We prepare the constitutional documents and file the application with the fee.
5. Beneficial owners. We record the beneficial owners in the register and update them annually.
6. Tax and bank. We register the company with the tax authority, for VAT if needed, and support the account opening.

Timelines: the name is approved within a few working days, and express registration usually takes about a week after filing. The bank account is opened separately, and the checks take from a month.

Taxes and duties of a Cyprus company

• Corporate income tax: 15% from 1 January 2026 under Law 244(I)/2025, previously 12.5%.
• Tax residence. The 15% rate and tax treaties work only if the company is managed from Cyprus: directors in Cyprus take the decisions, not an owner in another country.
• Accounts and audit. Every Cyprus company prepares audited financial statements each year; see audit and accounts in Cyprus.
• Beneficial owners register. Owner data is filed at registration, annually and on every change.
• Dividends. From 2026 the special defence contribution on dividends for Cyprus tax residents who are domiciled was cut from 17% to 5%, and non-domiciled residents do not pay it. The deemed dividend distribution rule is abolished for profits earned from 1 January 2026. Stamp duty is abolished.
• VAT. The standard rate is 19%. Registration is required once turnover over 12 months exceeds about $18,000.

Annual duties after registration

Once registered, the company has annual duties. Audited financial statements and the annual return go to the Registrar of Companies, and the tax return to the tax department. Corporate tax for the current year is paid in advance in two instalments, by 31 July and 31 December, based on expected profit. Beneficial owner data is confirmed once a year. If the company has staff, it pays social insurance and health system contributions for them.

Missed deadlines mean fines and questions from the bank, so we run the accounts and the register by calendar and remind you of payments in advance.

Why Cyprus companies run into refusals

• The bank will not open an account. Cyprus banks require a clear business model, real counterparties and a verified source of funds. Owners linked to sanctioned countries are refused more often.
• No management in Cyprus. If decisions are actually taken elsewhere, that country's tax authority may treat the company as its own resident, and the point of Cyprus is lost.
• Late accounts or beneficial owner filings. Delays bring penalties, and the Registrar may strike the company off.

Restrictions for certain nationalities

A citizen of any country can register a Cyprus company: the companies law has no nationality ban. The restrictions come from EU sanctions. Banks may not accept deposits above about $120,000 from citizens and residents of Russia and Belarus who have no citizenship or residence permit of an EU country. Accounting, audit, tax and management consulting services may not be provided to companies established in Russia, and trust services are also barred for Russian citizens.

Cyprus banks generally turn down structures with owners from these countries who have no European residence permit. Before registration we therefore check the owners and ask the bank whether it will open an account.

What we do

We design the structure, register the company, provide a director and secretary where needed, file beneficial owner data, help open the account, register with the tax authority and prepare annual audited accounts. Prices for each service are in the table below.

Fees

See also

Business account · Personal account · Investment property · Country taxes · All country programs

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