Company Formation in Cyprus

Cyprus company formation means registering a private company limited by shares (Ltd) with the Department of Registrar of Companies and Intellectual Property in Nicosia. No minimum share capital applies, the Certificate of Incorporation issues within 10 to 14 working days, and profits are taxed at 15% from 2026 with 0% withholding on outbound dividends.

Cyprus is the European Union's most-used holding-company jurisdiction after Luxembourg and the Netherlands. A comprehensive tax reform effective 1 January 2026 reset the corporate tax rate from 12.5% to 15%, in line with the OECD's global minimum, while reducing the Special Defence Contribution on dividends from 17% to 5% and abolishing the Deemed Dividend Distribution mechanism. The headline tax rate moved up, but the rest of the reform broadly reduced effective tax for most structures. The IP Box regime continues to deliver an effective tax rate of around 3% on qualifying intellectual-property income under the nexus approach. The non-domicile regime still exempts individual dividends and interest income from SDC for up to 17 years from Cyprus residency.

We form Cyprus private limited companies (Ltd), the Cypriot equivalent of an LLC, end to end. That covers name reservation, drafting of Memorandum and Articles, submission to the Registrar, Tax Identification Number issuance, VAT registration, UBO filing, and bank or EMI introduction. Fixed price, dedicated manager, all government and regulatory fees included.

Quick facts	Value
Corporate Income Tax (from 1 Jan 2026)	15% (raised from 12.5%)
Local company form	Ltd (private company limited by shares under the Companies Law, Cap. 113), equivalent of an LLC / private limited company
Effective IP Box rate	~3% on qualifying IP profits (80% deemed deduction)
SDC on dividends (individuals)	5% (reduced from 17% in 2026)
SDC on rents	Abolished in 2026
VAT	19% standard / 9% / 5% reduced
VAT registration threshold	€15,600 annual turnover
Personal income tax	0–35% progressive
Withholding tax on outbound dividends (to non-residents)	0%
Minimum share capital (private Ltd)	€1 nominal — no statutory minimum
Minimum directors / shareholders	1 director, 1 shareholder (can be the same person, can be foreign)
Residency requirement	None for shareholders; Cyprus-resident director majority needed for tax residency
Standard formation time	10–14 working days
Government fees	Included in our packages
Language of filings	Greek and English
Currency	Euro (EUR)

Why Form a Company in Cyprus

The 2026 reform changed the numbers but preserved — and in some ways sharpened — the reasons to use Cyprus. Five stand out.

If Cyprus is one of several EU options on your list, our guide to company formation in Europe explains the trade-offs. The all 27 EU states comparison shows capital, tax and timing figures for each member state in one table.

Holding-company tax efficiency. Cyprus is the most direct EU path for an international group to aggregate dividends and capital gains from subsidiaries in lower-tax jurisdictions. Dividends from foreign subsidiaries are exempt from corporate income tax in Cyprus, subject to anti-hybrid and minimum-tax rules. Capital gains on the sale of subsidiaries are exempt except where the subsidiary's assets are Cyprus real estate. There is no withholding tax on outbound dividends to non-residents, regardless of the recipient's country. The 2026 abolition of Deemed Dividend Distribution removes the historic 70% profit-distribution obligation, allowing full retention of profits in the Cyprus holding company.

IP Box at ~3% effective rate. Qualifying IP income benefits from an 80% deemed deduction under the modified nexus approach. Combined with the new 15% corporate tax rate, the effective tax on qualifying IP profits drops to roughly 3%. The regime is approved at OECD level and continues through 2030. For software, patents, copyrightable code, and certain trade secrets developed with sufficient Cyprus-based substance, the IP Box remains the most competitive IP tax regime in the EU.

Non-domicile regime for individuals. Individuals who become Cyprus tax residents but are non-domiciled under Cyprus inheritance law are exempt from SDC on dividends, interest, and — from 1 January 2026 — rental income for up to 17 years. After 17 years, the regime can be extended by two consecutive 5-year periods by paying a €250,000 lump sum per period. For internationally mobile founders taking dividends from a Cyprus holding company, the combined effect is close-to-zero tax on dividend income for nearly three decades.

EU + Common Law + English language. Cyprus is an EU member state, in the Single Market, uses EU VAT, and accesses the Parent-Subsidiary Directive and the Interest and Royalties Directive. It is a Common Law jurisdiction with company law modelled on the UK Companies Act — familiar to international lawyers and counterparties. English is widely used in business and legal documentation.

An extensive treaty network. Cyprus has 65+ double-tax treaties, including favourable provisions with the EU, Russia (post-2020 revisions), India, China, South Africa, and most of Eastern Europe — historically the backbone of Cyprus's positioning as a gateway between the EU and the CIS region.

The trade-offs: banking is harder than it used to be (opening a Cyprus corporate bank account as a non-resident with no Cyprus connection is a 4–12 week process and rejection is common), the 15% headline rate is higher than the old 12.5%, and Cyprus has tightened substance requirements — a Cyprus shell without any local activity no longer qualifies reliably for treaty relief.

Is Cyprus company formation still worth it in 2026?

Yes, for structures that can show substance. The 2026 reform raised corporate tax to 15%. It also cut SDC on dividends to 5%, abolished the deemed dividend distribution and the Memorandum stamp duty, and left the 3% IP Box and the 0% outbound dividend withholding untouched. A Cyprus Ltd with a real office and Cyprus-based decisions is stronger in 2026 than before; a mailbox company is weaker.

Who should consider forming a company in Cyprus?

Four profiles fit. Groups that need an EU holding company for dividends and exit gains from subsidiaries. Owners of software, patents or other qualifying IP who can locate development in Cyprus for the IP Box. Founders who intend to relocate and use the non-domicile regime on their own dividends. Shipping groups, which use the EU-approved Cyprus tonnage tax system instead of corporate tax.

Company Types Available in Cyprus

Cyprus company law offers four main forms. The private limited company accounts for virtually all cf24 client incorporations.

What does Ltd mean?

Ltd is short for Limited, the suffix every Cyprus private company limited by shares carries under the Companies Law, Cap. 113, modelled on the English Companies Act 1948. Greek filings use the equivalent ΛΤΔ (Λίμιτεδ). It is the Cypriot counterpart of an LLC or private limited company, used for holding, IP, trading and service companies.

Private Limited Company by Shares (Ltd)

The default vehicle. Limited liability up to the share capital. No statutory minimum share capital — a nominal €1 share is sufficient, though most Cyprus Ltds are incorporated with €1,000 authorised capital for regulatory comfort. Minimum one director and one shareholder (can be the same person, can be foreign). A company secretary is mandatory. Annual filings: HE32 annual return and audited financial statements (audit is mandatory for all Cyprus companies regardless of size). Anyone can be a shareholder; for the company to be treated as Cyprus tax resident, management and control — in practice a majority of Cyprus-resident directors — must be exercised in Cyprus.

Public Limited Company (PLC)

For listed companies or those with more than 50 shareholders. Minimum share capital €25,629 (the legacy drachma conversion). Stricter disclosure and governance rules. Used by less than 1% of cf24-style incorporations.

Branch of a Foreign Company

A foreign parent's Cyprus branch. Taxed in Cyprus only on Cyprus-source income attributable to the branch. Used when the foreign group needs Cyprus VAT registration or local presence without a separate subsidiary.

Partnership (General or Limited)

General partnership: unlimited personal liability for all partners. Limited partnership: one or more general partners with unlimited liability plus limited partners capped at their contribution. Used primarily for professional services or specific investment structures.

Form	Min capital	Liability	Tax	Common use
Private Ltd	€1 nominal	Limited	15% CIT	Holding cos, trading, SMEs, IP
PLC	€25,629	Limited	15% CIT	Listed cos
Branch	n/a	Parent's	15% on branch profits	Foreign group presence
Limited Partnership	n/a	Mixed	Partners taxed personally	Funds, professional services

Step-by-Step Formation Process

A typical Cyprus private limited company formation takes 10 to 14 working days from a clean filing. As your company formation agent in Cyprus, we manage every step below with our Cyprus-qualified lawyers. The Department of Registrar of Companies and Intellectual Property (DRCIP) keeps the company register.

1. Name reservation and Registrar approval. We submit the proposed name to the Department of Registrar of Companies and Intellectual Property (DRCIP). Approval takes 2 to 3 working days. Cyprus has specific rules on protected terms (banking, insurance, royal, state-related) and requires the "Limited" or "Ltd" suffix.

1. Memorandum and Articles of Association. Drafted by Cyprus-qualified lawyers (a statutory requirement — only licensed Cyprus lawyers may draft incorporation documents for filing). We use standard articles with client-specific customisation for share classes, transfer restrictions, pre-emption rights, and board governance where needed.

1. KYC and shareholder documentation. Each shareholder, director, secretary, and beneficial owner provides passport, proof of address, CV, and professional reference (required under Cyprus AML rules). Corporate shareholders provide certificates of incorporation, directors registers, and UBO declarations with apostille.

1. Filing with the Registrar. The Memorandum, Articles, HE1 (directors' declaration), HE2 (registered office declaration), and HE3 (first secretary declaration) are filed electronically. Processing time is 5 to 10 working days from submission.

1. Certificate of Incorporation and TIC. Issued by the Registrar upon approval. The Tax Identification Number (TIC) is issued by the Cyprus Tax Department within approximately 30 days (we expedite this as part of standard formation).

1. Post-incorporation registrations. UBO filing with the Cyprus UBO register within 90 days. VAT registration if turnover will exceed €15,600 in the next 12 months (mandatory for intra-EU supplies regardless of turnover). Social insurance registration if employing Cyprus residents. Bank account opening — the single biggest timing variable, typically 4 to 12 weeks for non-resident-controlled structures.

End-to-end timeline from KYC clearance to operating company with bank account: 6 to 14 weeks, with the certificate in hand within 2 weeks and the bank being the principal delay.

What the formation agent does in Cyprus

Cyprus law reserves the drafting and filing of the Memorandum and Articles to Cyprus-qualified lawyers, so every agent works through a law firm. Ours handles the name application to the DRCIP, the HE1, HE2 and HE3 declarations and the electronic filing. It then obtains the Tax Identification Number, the VAT and VIES registrations, the UBO filing and the bank or EMI file. Support services after incorporation are the registered office, the mandatory company secretary and resident directors for the tax residency test. Bookkeeping under Cyprus VAT rules and the statutory audit by a licensed auditor for the HE32 return complete the set. Founders can check name availability and company details in the DRCIP's public online search, but cannot file an incorporation without a lawyer.

Required Documents

For each shareholder, director, secretary, and beneficial owner:

• Passport (clear scan of all relevant pages)
• Proof of residential address dated within three months
• Recent CV (required under Cyprus AML rules for formation)
• Professional reference (lawyer, accountant, banker) — required for most incorporations
• Bank reference letter (required by almost all Cyprus banks for the banking stage)
• For corporate shareholders: apostilled certificate of incorporation, apostilled register of directors, UBO declaration, audited accounts for the last two years (banks require this)

The registered office must be a Cyprus address. We provide registered office service in Nicosia and Limassol as part of standard formation packages.

Costs and Timeline

Cyprus formation costs depend on the share capital (DRCIP filing fees are calculated as a percentage of authorised capital), whether the Memorandum is drafted in Greek or English (both are accepted; English is standard for cf24 clients), and which optional services you bundle — nominee director or secretary, substance package, bank introduction, accounting setup.

Our packages cover the Memorandum and Articles drafted by Cyprus-qualified lawyers, all DRCIP filing fees, Certificate of Incorporation, TIC issuance, registered office for year one, UBO filing, secretary service for year one, and a bank or EMI introduction. Contact us for a fixed-price quote — accounting and audit are quoted separately because they vary substantially by company activity.

What does it cost to register a company in Cyprus?

The cost to register a company in Cyprus turns on three things. They are the DRCIP filing fee (a percentage of authorised capital), the Memorandum and Articles drafted by a Cyprus-qualified lawyer, and the registered office and secretary services. Our fixed quote bundles all of them; audit and accounting are priced separately by activity.

Typical timeline from KYC clearance:

Week	Milestone
0	Engagement, KYC submitted
1	KYC cleared, name reserved, Memorandum drafted
2	Filing with Registrar, Certificate issued
3–4	TIC, UBO filing, VAT registration
6–14	Bank account opened (variable per bank and profile)

Tax Overview for Cyprus Companies

The 2026 tax reform was the most significant change to Cyprus corporate tax in over a decade. Eight points matter for most cf24 clients.

Corporate Income Tax: 15% (rate applicable in 2026) on worldwide profits of Cyprus tax-resident companies, effective for tax years starting on or after 1 January 2026. Increased from the previous 12.5% as part of OECD Pillar Two alignment. Applies to all Cyprus-resident companies regardless of size.

Tax residency — new "incorporation test". As of 2026, companies formed under the Cyprus Companies Law are automatically treated as Cyprus tax resident, providing immediate certainty from day one. The legacy "management and control" test still applies as an additional basis for tax residency of foreign-incorporated entities managed from Cyprus.

IP Box regime: 80% deemed deduction on net profits from qualifying IP, using the modified nexus fraction. Combined with 15% CIT, effective tax on qualifying IP income is approximately 3%. The regime is approved under OECD BEPS Action 5 and continues through 2030.

Dividend income from foreign subsidiaries: exempt from CIT, subject to anti-hybrid rules and a minimum-tax test (the foreign subsidiary must face an aggregate foreign tax burden of at least 6.25%).

Dividend distributions to non-residents: 0% withholding tax, regardless of treaty.

Special Defence Contribution (SDC). Applies only to Cyprus-resident, Cyprus-domiciled individuals. SDC rate on dividends reduced from 17% to 5% effective 2026. SDC on interest remains at 17%. SDC on rental income abolished in 2026. Non-domiciled individuals are exempt from SDC on dividends, interest, and rental income for up to 17 years from becoming Cyprus residents; extendable for two 5-year periods by paying €250,000 per period.

Capital gains: 0% except on disposals of Cyprus immovable property or shares in companies whose value derives primarily from Cyprus real estate.

Deemed Dividend Distribution: abolished for profits earned after 1 January 2026. This was the 70% deemed-distribution rule that historically triggered SDC on retained profits of Cyprus-owned Cyprus companies. Its abolition allows full retention of profits.

VAT: 19% standard rate, 9% on hospitality and passenger transport, 5% on certain foodstuffs and books. Mandatory registration above €15,600 turnover per year, or immediately for intra-EU supplies.

Stamp duty on MoA: abolished in 2026, reducing incorporation costs.

Cyprus has double-tax treaties with 65+ jurisdictions including all EU member states, the UK, US, Russia (post-2020 revised terms), India, China, and most of Eastern Europe and the Middle East.

What other tax benefits does a Cyprus company get?

Three reliefs sit beside the IP Box. The notional interest deduction gives a deemed interest expense on new equity injected into the company, capped at 80% of the taxable profit it produces. Group loss relief lets Cyprus companies in a 75% group offset losses against each other's profits. Employees who take up first employment in Cyprus with annual pay above €55,000 receive a 50% income tax exemption for 17 years, which matters for relocating founders on payroll.

Is a Cyprus Ltd suitable as a holding company?

Yes. A Cyprus Ltd is one of the EU's standard holding vehicles. Dividends from foreign subsidiaries are exempt from corporate income tax, subject to the anti-hybrid and 6.25% minimum-tax tests. Gains on selling subsidiaries are exempt unless Cyprus real estate is involved, and outbound dividends to non-residents carry 0% withholding tax. Groups holding IP add the 3% IP Box.

Substance requirements for a Cyprus company

Cyprus has no statutory substance test of the BVI type, so substance is judged by banks, treaty partners and the Tax Department case by case. The markers they look for: a majority of Cyprus-resident directors, board meetings held and minuted in Cyprus, and a leased office rather than a mailbox. Add staff on the Cyprus payroll registered with Social Insurance Services and books kept locally. The Tax Department issues a tax residency certificate on a questionnaire covering these points. Treaty partners apply the principal purpose test under the OECD Multilateral Instrument, which Cyprus ratified in 2020. The IP Box adds its own test: the nexus fraction only counts research and development spent in Cyprus or outsourced to unrelated parties.

Banking for Cyprus Companies

Cyprus business banking consolidated significantly in 2025–2026. The market is now dominated by two institutions plus a handful of smaller specialist banks and EMIs.

Eurobank Limited — formed on 1 September 2025 by the merger of Hellenic Bank and Eurobank Cyprus — is now the largest bank on the island, with assets above €28 billion and a 52-branch network. Full corporate banking offering: multi-currency accounts, SEPA and SWIFT, online banking, trade finance, and treasury services. The strong SME focus inherited from the Hellenic era makes Eurobank Limited a practical choice for mid-sized Cyprus companies. For non-resident-controlled applications, expect an in-person meeting requirement and 6 to 10 weeks processing.

Bank of Cyprus is the second pillar of the market and, following its March 2026 acquisition of the performing assets of CDB Bank, the primary domestic corporate bank. Works best for companies with a defined business plan, Cyprus-resident directors, and a professional introduction. Cold applications from newly incorporated shells with no Cyprus connection frequently stall.

Smaller Cyprus banks — AstroBank, Alpha Bank Cyprus, Cyprus Popular Bank — maintain niche offerings and sometimes onboard cases that the two majors decline, particularly for existing professional referrals.

International EMIs — Wise Business, Airwallex, Revolut Business (where a director has EEA residency) — work as primary or secondary accounts for most cf24 Cyprus companies without Cyprus-resident management. Fully remote onboarding, EUR multi-currency balances, integrated SEPA. Most newly formed Cyprus holding companies start with an EMI and add a Cyprus bank over time as the structure accumulates genuine Cyprus substance.

For holding-company structures specifically, the pattern we see most often is a Wise or Airwallex account for operating flows plus a Cyprus bank opened once the company has been active for a year — by which point the profile for Cyprus bank onboarding is significantly stronger.

Compliance and Reporting Obligations

A Cyprus Ltd is an audited, fully reporting EU company, which is what gives it credibility with banks and treaty partners. The table lists the standing obligations for a calendar-year company; our administration package runs the calendar.

Obligation	Deadline	Authority
HE32 annual return with audited financial statements	Every year, filed electronically after the AGM	DRCIP (Registrar of Companies)
Annual general meeting	Once every calendar year, no more than 15 months after the previous one	Internal, minuted by the secretary
Corporate income tax return (TD4)	31 March of the second year after the tax year, through TAXISnet	Cyprus Tax Department
Provisional tax instalments	31 July and 31 December of the tax year; final balance by 1 August of the following year	Cyprus Tax Department
VAT return	Quarterly, by the 10th of the second month after the quarter	Cyprus Tax Department
VIES declaration for intra-EU supplies	Monthly, by the 15th of the following month	Cyprus Tax Department
UBO register	Filed after incorporation and confirmed every year, with changes reported as they occur	DRCIP UBO register
Social insurance contributions	Monthly, once staff are on the Cyprus payroll	Social Insurance Services

The annual company levy that every Cyprus company used to pay was abolished in 2024, so the recurring government charges now come down to filing fees. A company that fails to file the HE32 is struck off by the Registrar after notice, and restoration requires a court application.

What are the common mistakes in Cyprus company formation?

Five recur. Treating the Ltd as an offshore shell with no office or Cyprus-based decisions, which stalls bank onboarding and treaty relief. Missing the UBO filing after incorporation. Skipping VAT registration although intra-EU supplies require it from the first sale. Appointing only non-resident directors when management and control in Cyprus is what the counterparties check. Forgetting that audited accounts are due even for a dormant company.

Forming a Cyprus Company as a Non-Resident

A non-resident can be the sole shareholder and sole director of a Cyprus Ltd. Cyprus imposes no residency or citizenship condition on either role; the only mandatory local elements are a Cyprus registered office and a company secretary, both included in our package.

Non-residents can own 100% of the shares. Since the 2026 incorporation test, the company is Cyprus tax resident from day one, although banks and treaty partners still look for Cyprus-based management and control.

A non-resident provides a passport, proof of address dated within three months, a CV, a professional reference and, for the banking stage, a bank reference letter. Corporate shareholders add apostilled incorporation documents and a UBO declaration. The formation itself needs no visit. Our Cyprus-qualified lawyers draft the Memorandum and file electronically with the DRCIP.

Founders in the United States, the United Kingdom, Brazil and the United Arab Emirates account for most non-resident enquiries. US and UK documents carry an apostille from the Secretary of State of the issuing state or the FCDO Legalisation Office. Brazil joined the Hague Apostille Convention in 2016, so Brazilian corporate documents are apostilled at a notary office (cartório) before translation. The UAE is outside the Convention, so UAE documents go through Ministry of Foreign Affairs attestation and consular legalisation.

Banking is the hard part for a non-resident owner. Eurobank Limited and Bank of Cyprus expect an in-person meeting and 6 to 10 weeks of processing, and cold applications from shells without Cyprus substance often stall. Most non-resident-controlled companies therefore open Wise Business or Airwallex first and add a Cyprus bank once the structure has a year of activity.

Frequently Asked Questions

What is the corporate tax rate in Cyprus after the 2026 reform?

The Cyprus corporate income tax rate increased from 12.5% to 15% effective for tax years starting on or after 1 January 2026. The increase aligns Cyprus with the OECD's global minimum tax under Pillar Two. The IP Box regime continues to deliver an effective rate of approximately 3% on qualifying intellectual-property profits through an 80% deemed deduction under the modified nexus approach.

How long does it take to form a Cyprus company?

A standard private limited company is registered with the Department of Registrar of Companies within 10 to 14 working days from a clean filing. The Certificate of Incorporation is typically issued within 2 weeks of KYC clearance. Including Tax Identification Number issuance, VAT registration, UBO filing, and bank account opening, the full end-to-end timeline is 6 to 14 weeks — with the bank account being the principal variable.

Can a non-resident set up a Cyprus company?

Yes. Cyprus imposes no residency or citizenship requirements on shareholders or directors of a Cyprus limited company. A non-resident can be the sole shareholder and sole director. However, for the company to qualify as Cyprus tax resident under the "management and control" test, a majority of Cyprus-resident directors is typically required. As of 2026, the new "incorporation test" means any company formed under Cyprus Companies Law is automatically Cyprus tax resident from day one, simplifying the tax residency question.

What is the minimum share capital for a Cyprus company?

There is no statutory minimum share capital for a Cyprus private limited company. A nominal €1 share is sufficient to incorporate. Most Cyprus Ltds are incorporated with €1,000 authorised capital as a matter of practice, since DRCIP filing fees are calculated as a percentage of authorised capital — €1,000 is a sensible balance between regulatory comfort and minimising the capital-based fee.

What is the Cyprus non-domicile regime?

Individuals who become Cyprus tax residents but are non-domiciled under Cyprus inheritance law are exempt from the Special Defence Contribution (SDC) on dividends, interest, and rental income for up to 17 years from the date they become Cyprus residents. After 17 years, the regime can be extended by two consecutive 5-year periods by paying a €250,000 lump sum per period. For individuals taking dividends from a Cyprus company, the combined effect of non-dom status plus the 2026 SDC reduction is close-to-zero tax on dividend income for up to 27 years.

Is the Cyprus IP Box still worth using in 2026?

Yes. The IP Box regime continues unchanged through 2030. Qualifying intellectual-property profits — from patents, copyrighted software, certain utility models, and plant variety rights — receive an 80% deemed deduction under the modified nexus fraction. Combined with the new 15% corporate tax rate, the effective tax rate on qualifying IP income is approximately 3%. Eligibility requires genuine R&D activity attributable to Cyprus and tracking of qualifying expenditure under the nexus rules.

How long does it take to open a business bank account in Cyprus?

Typically 4 to 12 weeks for non-resident-controlled companies, and 3 to 6 weeks for companies with Cyprus-resident directors. The 2025 merger of Hellenic Bank and Eurobank Cyprus into Eurobank Limited means most corporate banking consolidates between Eurobank Limited and Bank of Cyprus. Both typically require at least one in-person meeting for non-resident applications. Many newly formed Cyprus companies open a Wise Business or Airwallex account first (fully remote, 5 to 10 days) and add a Cyprus bank once the structure has matured.

Is a Cyprus company offshore or onshore?

A Cyprus company is onshore, not offshore. Cyprus is a full EU member state inside the Single Market, with EU VAT, the Parent-Subsidiary Directive, and OECD-aligned tax rules — the opposite of a zero-tax offshore centre. The phrase "Cyprus offshore company formation" is a holdover from the pre-2003 International Business Company era, which ended on EU accession. What remains is a low-tax onshore EU jurisdiction: 15% corporate tax, around 3% on qualifying IP, and exemptions on foreign dividends and most capital gains. For substance and banking purposes, treating a Cyprus Ltd as an onshore EU company — not an offshore shell — is what keeps it credible with banks and tax authorities.

Can you form a Cyprus company with a bank account included?

Yes. Every Cyprus formation package includes a bank or EMI introduction. Most newly formed Cyprus companies open a multi-currency EMI account first — Wise Business or Airwallex, onboarded remotely in a week or two — and add a Cyprus bank (Eurobank Limited or Bank of Cyprus) once the structure has genuine local substance. A Cyprus bank account for a non-resident-controlled company usually takes four to twelve weeks and an in-person meeting, so the EMI bridges the gap while the bank application runs. We prepare the bank file, brief you for the interview, and manage the back-and-forth with the compliance desk.

What are the requirements to form a Cyprus company?

The core requirements are modest. You need at least one director and one shareholder (the same person is fine, and both can be non-residents), a Cyprus registered office, a company secretary, and a name approved by the Registrar. There is no minimum share capital — a nominal €1 share is sufficient, though €1,000 authorised capital is standard practice. Each individual provides a passport, proof of address, a CV, and a professional reference; corporate shareholders add apostilled incorporation documents. For the company to be Cyprus tax resident, management and control — in practice a majority of Cyprus-resident directors — should sit in Cyprus, although the 2026 incorporation test now treats any Cyprus-incorporated company as resident from day one.

Can I get Cyprus residency through company formation?

Forming a Cyprus company does not by itself grant residency, but it is the usual first step for founders who want both. A Cyprus company that employs you can support a work-and-residence application, and EU nationals can register residency freely. The real draw is the tax side: once you become a Cyprus tax resident, the non-domicile regime exempts dividends and interest from the Special Defence Contribution for up to 17 years, so dividends drawn from your Cyprus company are taxed at close to zero. Many clients pair the formation with a relocation package — registered office, substance, payroll, and the residency filing handled together.

Cyprus, Malta, or Luxembourg — which is the better holding company?

All three are credible EU holding jurisdictions, and the right answer depends on the structure. Luxembourg is the heavyweight for fund and private-equity holdings, with the deepest treaty network and the SOPARFI vehicle, but it carries higher running costs. Malta uses a full-imputation refund system that can drop the effective tax on trading profits to around 5%, at the cost of more administrative steps. Cyprus sits in between: a simple 15% rate, exempt foreign dividends, no withholding tax on outbound dividends, the IP Box at roughly 3%, and lower ongoing costs than Luxembourg. For a founder-owned group that wants EU access without Luxembourg-level overhead, Cyprus is usually the practical choice.

Get Started — Form Your Cyprus Company

A fixed-price quote in 60 seconds. Certificate of Incorporation within 2 weeks of KYC clearance. Dedicated Cyprus-qualified lawyer drafts the Memorandum. Bank or EMI introduction included.

Call +48 2222 5 2222 or email info@companyformation24.com to start.

If your timeline is tighter than a 2-week formation, our sister brand offers ready-made Cypriot limited companies — already registered, fully audited, and transferable to you in days.

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Content prepared by Julia Thompson, Corporate Client Service Specialist. Approved by Tomasz Bielski, Managing Director.