Register Company in Cyprus

Register a Company in Cyprus

Registering a company in Cyprus is a smooth process when you are familiar with the necessary steps. At Block3 Finance, we ensure that your business setup in Cyprus is seamless, allowing you to focus on other critical areas of your global operations.

With our efficient approach, you can count on our team of experts to guide you through the entire process of company registration in Cyprus. Our goal is to make sure your Cyprus company is operational within the expected timeline.

Located in the Eastern Mediterranean, Cyprus is one of the most strategically placed islands with a rapidly growing economy, making it an attractive choice for foreign investors. Known for its low corporate tax rates, Cyprus provides a business-friendly environment that is ideal for international entrepreneurs.

Our Service Package Includes

Cyprus company registration with the Department of Registrar of Companies and Official Receiver

Provision of local company secretary and registered office address

Cyprus business bank account opening

Financial license application (if required)

Annual accounting and tax services

Is Cyprus an Offshore Haven?

Cyprus offers many advantages for offshore companies and features low tax rates, making it a popular choice for offshore business registration. However, unlike jurisdictions such as the British Virgin Islands or Cayman Islands, Cyprus is not considered a "tax haven" because it requires regular shareholder meetings, financial reporting, and doesn't have the same minimal registration requirements as those other jurisdictions.

That said, Cyprus maintains a positive international reputation, providing a trustworthy and stable environment for business setup. This makes it an excellent location for starting an offshore business.

When Can I Start My Business?

At Block3 Finance, we complete the process of registering your company in Cyprus within two weeks. Once we receive the required due diligence documents for the directors and shareholders, we will check the availability of your preferred company name and prepare all the necessary incorporation documents.

Throughout the process, you will not be required to travel to Cyprus.

Upon successful registration, we will provide you with all the official documents, including your certificate of formation, Memorandum and Articles of Association, and the register of directors and shareholders. We will also assist you in opening a business bank account in Cyprus or internationally, as needed.

Your business will be ready for operation within 6 weeks from initial engagement with Block3 Finance.

Types of Companies in Cyprus

Cyprus offers a variety of business structures. It's important to choose the right type based on your goals, tax obligations, and other factors. Block3 Finance will guide you in selecting the most suitable business entity.

Here are some of the most common business types:

Cyprus Limited Company (LLC): Ideal for foreign investors, this structure ensures that the company is a separate legal entity, meaning personal liabilities are limited. No minimum paid-up capital is required.

General Partnership: Involves two or more partners where all are liable for debts and obligations. While easy to form, general partnerships come with unlimited personal liability.

Limited Partnership: Combines elements of both an LLC and a partnership, where the general partner has unlimited liability, but the limited partner’s liability is limited to their investment.

International Trusts: Popular for international tax structuring, offering full foreign ownership. These entities are often used to minimize tax exposure.

Branch Office: A branch office of an existing company that wants to expand into the Cyprus market. The branch remains under the parent company's liability.

Business Licenses in Cyprus

Cyprus requires specific licenses depending on the type of business you operate. Some common types of licenses include:

Wholesale and Retail Trade Licenses

Alcohol and Tobacco Licenses

Investment Company License (regulated by CySEC)

Tourism and Hospitality Licenses

Real Estate Licenses

Industry-Specific Licenses for food, construction, healthcare, etc.

How to Register a Company in Cyprus?

1.Choosing the Right Business Structure: Before you proceed, it’s essential to select the correct business structure. Block3 Finance will recommend the most suitable entity based on your needs, whether a Cyprus Limited Company (LLC) or another structure.

2.Reservation of Company Name: We will conduct an electronic search to ensure that your desired company name is available. Once verified, we’ll register your company name with the Department of Registrar of Companies.

3.Preparation and Submission of Documents: Once the company name is approved, we will prepare and submit the necessary incorporation documents such as the Memorandum and Articles of Association to the Registrar of Companies.

4.Corporate Bank Account Opening: After your company is registered, we will assist you in opening a corporate bank account with a reputable bank of your choice. Directors and shareholders do not typically need to travel for this process, though Block3 Finance can arrange assistance if necessary.

5.Tax Registration: We will apply for your company’s tax number with the Tax Department and assist with VAT registration, if required. Cyprus has a competitive corporate income tax rate of 12.5%.

6.Social Insurance Registration: If you plan to hire employees, we’ll help register your company with Cyprus' Social Insurance Services.

Ongoing Compliance Post-Registration

After your company is registered, you will need to ensure it remains compliant with Cypriot law. Block3 Finance will assist you with:

Conducting Annual General Meetings (AGMs)

Preparing Annual Financial Statements according to IFRS

Submitting Tax Returns and VAT Reports

Managing Social Insurance Contributions for employees

Keeping accurate Company Records

Common Challenges When Registering a Company in Cyprus

While Cyprus offers a favorable business environment, some challenges may arise during the registration process:

Regulatory Compliance: Ensuring your business meets all legal obligations.

Language Barrier: Most documents are in Greek, but we offer translation and local expertise.

Corporate Governance: Setting up effective corporate structures.

Public Disclosure: Shareholder and director details are publicly accessible.

Understanding Tax Obligations: Navigating the complex tax system can be tricky.

Block3 Finance’s Role in Helping You Register a Company in Cyprus

At Block3 Finance, we make the process of registering a company in Cyprus simple and efficient. Our services include full assistance with company formation, business registration, bank account opening, obtaining necessary licenses, and ensuring ongoing compliance.

Our team will guide you through every step, ensuring your business is set up properly, legally compliant, and ready to operate in Cyprus.

Ready to Register a Company in Cyprus?

Block3 Finance is here to assist you with every aspect of registering your business in Cyprus.

Cyprus