Popular Structures: Shelf Companies Ready
Limited liability companies (Ltd) form in 48 hours for €1,000-2,000, requiring one shareholder and director (any nationality). Shelf (pre-registered) options launch instantly. Partnerships or branches suit expansions; trusts shield assets. Minimum share capital €1 for private Ltds.
Step-by-Step Process:
- Name Check: Reserve unique name online via Department of Registrar (free, 24 hours).
- Documents Prep: Memorandum/articles of association, director/shareholder IDs, registered office proof (virtual OK). Lawyers draft for €500.
- File Incorporation: Submit digitally; certificate issues same day.
- Tax/VAT Registration: Automatic corporate ID triggers PID; VAT within 30 days if trading.
- Bank Account: Non-resident accounts open remotely at Bank of Cyprus or Hellenic—€250 minimum deposit.
- Social Insurance: Register employees online for contributions (8.3% employer share).
Costs and Timelines
Total setup: €2,000-3,500 including legal fees. Annual maintenance €1,500 (audit exempt under €70k turnover). English documents accepted; no physical presence needed for directors.
Larnaca-Specific Ease
Local agents cluster near the marina, offering one-stop services. Free Trade Zone firms gain customs perks. Digital Hub provides free incorporation clinics quarterly.
Post-Setup Essentials
Appoint secretary (optional), file annual returns (€350), maintain books (IFRS compliant). Yellow Pages listing boosts visibility instantly.
Entrepreneurs praise Cyprus’s plug-and-play efficiency—global firms like ExxonMobil affiliates incorporate here swiftly.
