Cyprus company registration, question??

[JohnAlley]

What are the requirements to open a company in Cyprus? is it possible to avoid corporate tax & personal tax or one of them? Is filing of fiscal report and tax mandatory so book keeping?


In regards to Cyprus banking I would like to know a bit more about the bank conditions and fees in Cyprus. Does it have monthly maintanance or annual fees? how much does it charge to do a money transfer within the EU or international? ATM withdrawal charges outside Cyprus?


Does it offer internet banking services?

 

[JohnLocke]

There are so many threads like your already here so you should have been able to get most of your questions answered Anyway see my comments below.


1. The requirements to form the company are simple


1.a) copy of passport and utility bill not older than 3 months


1.b) If the company isn't resident it does not pay any tax, however, you can't obtain a resident certificate, the entity can't be registered for VAT and can't do local business, most often this is only of benefit if the purpose is a Holding company


1.c) filing of tax report and accounting is mandatory every year


Cyprus banking:


a.) It depends on what bank you wan to open the account with, our fee can be found here, /offshore-banking/cyprus-banking.html


b.) most banks in Cyprus have a monthly fee of aprox 5 - 10 EURO


c.) IBAN transfers are EUR 3 and SWIFT transfers depend on destination bank but between 10 and 25 EURO each


d.) I don't know most clients don't care, they are happy to have an Cyprus account and debit card


e.) Internet banking is standard and offers everything you need for your day to day banking & in English

 

[JohnAlley]

Thank you Admin, will have a look at your website and do some more search here. You are very helpful.

 

[JohnLocke]

Yeah you may do that, should you have any more questions you are welcome to post them here. If they are more related to our sales team (costs, how to get started etc.) you may submit a ticket to us, More...

 

[JohnAlley]

Great thanks a lot submitted the ticket.

 

[blowfish]

There are so many threads like your already here so you should have been able to get most of your questions answered Anyway see my comments below.
1. The requirements to form the company are simple


1.a) copy of passport and utility bill not older than 3 months


1.b) If the company isn't resident it does not pay any tax, however, you can't obtain a resident certificate, the entity can't be registered for VAT and can't do local business, most often this is only of benefit if the purpose is a Holding company


1.c) filing of tax report and accounting is mandatory every year


Cyprus banking:


a.) It depends on what bank you wan to open the account with, our fee can be found here, /offshore-banking/cyprus-banking.html


b.) most banks in Cyprus have a monthly fee of aprox 5 - 10 EURO


c.) IBAN transfers are EUR 3 and SWIFT transfers depend on destination bank but between 10 and 25 EURO each


d.) I don't know most clients don't care, they are happy to have an Cyprus account and debit card


e.) Internet banking is standard and offers everything you need for your day to day banking & in English

This outlines it all and should answers anyones questions in these matters, maybe you should make it sticky Admin, so that people can lookup this information easely and don't have to ask the same questions over and over again

 

[seat-my-business]

Do you need the passport copy and utility bill to be certfied ot something? what about the bank are they fine with just a bank statement or utility bill is mandatory?

 

[JohnLocke]

There is no requirement to get the document's certified! utility bill is mandatory for bank account opening.

 

[pimonte]

There is no requirement to get the document's certified! utility bill is mandatory for bank account opening.

For bank account opening the documents need to be notarized or not?

 

[flofi]

For bank account opening the documents need to be notarized or not?

copy of passport and utility bill was waht I provided, that simple!

 

[JohnLocke]

For bank account opening the documents need to be notarized or not?

No they don't need to be notarized. Simple passport and utility bill not older than 3 months will do it.

 

[bonox]

Pretty easy to get setup in Cyprus for under 5k including banking and what else you need to run a successful business in Europe almost tax free

 

[seat-my-business]

Seems indeed not to be complicated to the a company registered in Cyprus but the banks there have gone nuts and are totally crazy about the required documents!

 

[JohnAlley]

Pretty easy to get setup in Cyprus for under 5k including banking and what else you need to run a successful business in Europe almost tax free

Yes and it's all money worth, my EU operations are all originating from a Cyprus company!

 

[pimonte]

No they don't need to be notarized. Simple passport and utility bill not older than 3 months will do it.

Thank you Admin, what for bank account opening any requirements there?

 

[JohnLocke]

Thank you Admin, what for bank account opening any requirements there?

No that's the same, you may have more options in regards to banks if you are able to get a bankers reference letter!

 

[Pathfinder]

There are so many threads like your already here so you should have been able to get most of your questions answered Anyway see my comments below.
1. The requirements to form the company are simple


1.a) copy of passport and utility bill not older than 3 months


1.b) If the company isn't resident it does not pay any tax, however, you can't obtain a resident certificate, the entity can't be registered for VAT and can't do local business, most often this is only of benefit if the purpose is a Holding company


1.c) filing of tax report and accounting is mandatory every year


Cyprus banking:


a.) It depends on what bank you wan to open the account with, our fee can be found here, /offshore-banking/cyprus-banking.html


b.) most banks in Cyprus have a monthly fee of aprox 5 - 10 EURO


c.) IBAN transfers are EUR 3 and SWIFT transfers depend on destination bank but between 10 and 25 EURO each


d.) I don't know most clients don't care, they are happy to have an Cyprus account and debit card


e.) Internet banking is standard and offers everything you need for your day to day banking & in English

These are all still applicated right?

 

[JohnLocke]

Yes all is applicable what you read there. If you want to register a Cyp company just PM me or contact our sales.

 

[JohnAlley]

NEw, you need to provide a CV and your tax number for the country of residenze!

 

[deadpool]

I wanted to open a thread similar to this. Thanks to the OP for asking the question and to admin for answering it clearly.