Question Cyprus company formation

[pippo]

Hello,

I'd like to incorporate a ltd company in Cyprus. EU resident, planning to move there since april 2022, but I'd like to have the company setup right now.

• 50k turnover, 100% as sales commissions. Roughly 200 invoices going out, barely 20 coming in
• No employees
• I'll be the director
• I need a company secretary
• I need a company registered office

So a simple, straightforward setup.

What are to be considered reasonable setup costs and yearly costs for accounting and annual report?

I've seen @CyprusLawyer101 and @CyprusLaw are both active on the subject: would you mind dropping me a PM?

Thanks

 

[ShillGates]

good luck , ireland got 5 banks, cyprus got none, banking is a nightmare - so think before you do anything

 

[pippo]

good luck , ireland got 5 banks, cyprus got none, banking is a nightmare - so think before you do anything

https://thebanks.eu/banks-by-country/Cyprus
It does not look so bad!

Any direct experience worth sharing?

 

[uplana]

Cyprus is not that bad, you just need an introducer for the bank account opening. The rules may be the same in Cyprus as in Ireland, you will need substance for your company.

 

[pippo]

I've been advised to ask also the opinion of @saintjohnny on the topic. Would you mind to PM me? Thanks

 

[saintjohnny]

I've been advised to ask also the opinion of @saintjohnny on the topic. Would you mind to PM me? Thanks

Sorry I dont have PM priviledge but you can contact me via TG if you like.

 

[pippo]

Sorry I dont have PM priviledge but you can contact me via TG if you like.

@saintjohnny on telegram?

 

[saintjohnny]

@saintjohnny on telegram?

@saintjohnny92