Cyprus

Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia. Located in the north-eastern end of the Mediterranean Sea, Cyprus is effectively a crossroads linking Europe, Asia and Africa. It covers an area of 9,251 sq km and lies 65 km south of Turkey, 96 km west of Syria, 385 km North of Egypt and some 980 km south-east of Athens. The capital is Nicosia. The principal topographical features of Cyprus are the two mountain ranges running along the centre and north-east of the Island, separated by a wide and fertile plain. Cyprus has a pleasant climate with dry, hot summers and mild winters.

Key Corporate Features and Requirements

General
  • Type of entity: Private Limited
  • Type of law: Common
  • Shelf companies available: Yes
  • Time to establish a new company: 10-15 days
  • Minimum government fees (excluding taxation): €350 annually
  • Corporate taxation: 12.5%
  • Double taxation treaty access: Yes
  • Standard currency: Euro
  • Permitted currencies: Any
Directors
  • Minimum number: One
  • Local required: No, but advisable for purposes of tax residency
  • Publicly accessible records: Yes
  • Location of meetings: Anywhere, but Cyprus advisable for purposes of tax residency
Members
  • Minimum number: One
  • Publicly accessible records: Yes
  • Location of meetings: Anywhere
  • Company Secretary Required: Yes
  • Required: Yes
  • Local or qualified: No, but Cyprus advisable for residency and compliance
Accounts
  • Requirement to prepare: Yes
  • Audit requirements: Yes
  • Local Auditor: Yes
  • Requirement to file accounts: Yes
  • Publicly accessible accounts: No
Other
  • Requirement to file annual return: Yes
  • Change in domicile permitted: Yes


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