Cyprus

Cyprus is one of the most trusted jurisdictions in our time and maintains its position as one of the top jurisdictions for setting up a business.

Cyprus is a major tourist destination in the Mediterranean. With an advanced, high-income economy and a very high Human Development Index, the Republic of Cyprus has been a member of the Commonwealth since 1961 and was a founding member of the Non-Aligned Movement until it joined the European Union on 1 May 2004. On 1 January 2008, the Republic of Cyprus joined the Eurozone.

Type of the company IBC – International Business Company
Relevant Companies Law Cyprus Companies Law, Cap.113
Obligation to have the local office Law requires companies to provide a local office address
Language of the corporate documents Greek and English with notary certification and apostil
Currency EUR
Corporate tax 12,5 %
Standard share capital 5,000 EUR
Obligation to appoint company secretary Required
Obligation to appoint local secretary Required
Obligation to appoint company director Required
Obligation to appoint local company director Required only in Resident companies
Minimum number of directors 1
Obligation to register shareholders Required
Minimum number of shareholders 1
Obligation to hold annual assembly Required and may be held in any location
Obligation to prepare financial reports /Obligation to submit financial reports Required/Required