Entrepreneurs, who want to open a business in Cyprus, must conduct activities in accordance with the Companies Act (2003).
- A Partnership: general or limited.
- at least 1 founder, a max. number of shareholders is 50;
- 100% foreign ownership;
- a capital is divided into shares (cannot be freely transferred);
- a shareholder liability is limited by the size of deposits;
- an enterprise is managed by the Board of Directors;
- a local secretary is a mandatory requirement of the Regulator.
- the max. number of shareholders is unlimited, shares can be freely transferred;
- shares may be listed on the Cyprus Stock Exchange;
- there are no minimum capital requirements.
- a Full Partnership implies a presence of at least 2 sharers (no more than 20);
- within 1 month from the registration, a partnership must be registered in the Register of partnerships;
- foreign investors can participate in partnerships.
A Limited Partnership is popular among small businesses. It has a general and a limited partners: a general partner is responsible for managing the company, has an unlimited liability.
Foreigners can open branches in Cyprus. A main requirement is the provision of annual financial statements in Greek or with appropriate translation.
- A corporate tax is 12,5%.
- Resident companies and private individuals are subject to state defense contributions.
- A foreign resident pays tax on income, earned in Cyprus.
For more information about a tax environment of Cyprus, request for personal advice on tax and accounting reports from IQD Consulting specialists.
- Dividends - 0%.
- Royalty - 10%.
- Interest - 0%.
To set up a Cyprus company, ask for personal advice on starting a business in Cyprus with experienced IQD Consulting professionals, who will help at every stage of business registration abroad.