Cyprus Companies are registered under Companies Law CAP 113.

Name - An application is filed at the Registrar of Companies who is responsible to approve the name of the company, which must not be similar to any already existing company.

Type of company - The most common types of companies registered are Limited Liability Companies.

Taxation - Cyprus companies are subject to income tax on their worldwide income according to the Income Tax Laws of 2002 at the rate of 12,5%.

Annual Governmental License Fee - Euro 350.00 annual governmental levy is payable every 30/6 for all companies registered before the 31/12 of the previous year.

Registered office - It must be situated in Cyprus.

Members/Shareholders - The minimum number is one.

Public access - The records maintained at the Registrar of Companies are open to the public.

Directors - The minimum number is one.

Secretary - It is obligatory to appoint a Secretary for the company.

Share capital - There is no minimum or maximum amount. The currency of the share capital can be in any freely convertible currency (Euro, GBP, USD).

Annual Return Filing - There is an obligation to file the annual return attaching the audited financial statements of the previous year.

Financial Statements - There is an obligation to prepare and file audited financial statements annually with the Income Tax Authorities.

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