Company Opening

Cyprus offers compelling advantages for international businesses: 12.5% corporate tax (lowest in the EU), strategic geographic positioning, EU membership benefits, and streamlined company formation. Establishing your Cyprus entity correctly from the start prevents costly complications later.

Boka provides end-to-end company formation services tailored for international entrepreneurs and established businesses expanding into Cyprus. We navigate the legal requirements, ensure regulatory compliance, and establish operational infrastructure—allowing you to focus on business strategy while we handle bureaucratic complexity.

Why Cyprus?

Tax Optimization

Cyprus's corporate tax system offers significant advantages: 12.5% corporate tax rate, no withholding tax on dividends paid to non-residents, extensive double taxation treaty network (60+ countries including Russia, China, US, UK), IP Box regime with 80% tax deduction on qualifying intellectual property income, and no capital gains tax on share sales (unless company owns Cyprus real estate). These benefits position Cyprus as one of Europe's most attractive jurisdictions for holding companies, trading companies, and international business operations.

EU Market Access

As a full EU member since 2004, Cyprus-registered companies enjoy access to the European single market, freedom of capital movement, and protection under EU legislative frameworks. Your Cyprus company operates with the credibility and legal protections of an EU entity while benefiting from Cyprus's competitive tax environment.

Strategic Location

Positioned at the crossroads of Europe, Asia, and Africa, Cyprus serves as an ideal hub for international operations. Time zone advantages facilitate business with Middle Eastern, African, and European markets simultaneously.

Skilled WorkforceCyprus offers a multilingual workforce fluent in English, Greek, Russian, and other languages—essential for international operations. The education sector produces graduates skilled in finance, technology, and business administration.

Company Formation Process

Legal Structure Selection

We advise on optimal company structure based on your objectives:

• Private Limited Company (Ltd): Most common structure, limited liability, minimum share capital of €1 (typically €1,000), suitable for most business operations

• Public Limited Company (PLC): For larger enterprises, minimum share capital €25,630, required for certain regulated activities

• Branch Office: Extension of foreign company, suitable for local operations while maintaining parent company structure

• Partnership: For professional services and certain business activities

Name Reservation & Approval

Company name must be unique and approved by the Registrar of Companies. Processing takes 3-5 business days. Names containing specific terms ("banking," "insurance," "brokerage") require Central Bank of Cyprus pre-approval. We conduct availability searches and handle application submissions.

Documentation Preparation

Cyprus law requires only licensed Cyprus Bar Association lawyers to prepare and sign company formation documents. Our legal team prepares:

• Memorandum of Association: Defines company objectives, structure, and scope of business activities

• Articles of Association: Establishes internal governance rules, director and shareholder duties, and operational procedures

• HE1 Form (Declaration of Compliance): Legal compliance certification signed by Cyprus-registered lawyer

• HE2 Form (Registered Office Address): Official Cyprus business address declaration

• HE3 Form (Directors & Secretary Details): Company officer information

• Passport copies and proof of address for all directors, shareholders, and company secretary

• Bank reference letters verifying financial credibility

• Shareholder structure and beneficial owner declarations

Company Registration

Documents are submitted to the Department of Registrar of Companies and Intellectual Property. Standard processing takes 5-10 business days. Expedited processing available for additional €100 fee. Upon approval, you receive your Certificate of Incorporation—establishing legal existence.

Tax Registration

Within 60 days of incorporation, companies must register with the Cyprus Tax Department to obtain Tax Identification Number (TIN). VAT registration required if annual turnover exceeds €15,600 or for businesses making cross-border transactions. We handle all tax authority registrations and submissions.

Social Insurance Registration

Companies hiring employees must register with Social Insurance Services. Employer contributions include: Social Insurance Fund (7.8%), Redundancy Fund (1.2%), Training Development Fund (0.5%), Social Cohesion Fund (2%), and Holiday Fund (8%) for resident employees. We complete electronic registration through Point of Single Contact (PSC) Cyprus portal.

Corporate Bank Account Opening

We facilitate introductions with Cyprus banks (Bank of Cyprus, Hellenic Bank) and international banking options. Bank account opening requires: Certificate of Incorporation, Memorandum and Articles of Association, proof of business activities, director and shareholder documentation, and company registry extracts. Process takes 1-3 weeks depending on bank compliance requirements. Personal presence required for account opening signatures.

Ongoing Compliance Requirements

Annual Obligations

• Annual General Meeting (AGM) must be held within 18 months of incorporation, then every 15 months maximum

• Annual Return filed with Registrar of Companies

• Audited financial statements submitted to Tax Department by March 31 (electronic filing) or December 31 (manual filing) of second year following financial year-end

• Corporate tax return filed by March 31 of second year following tax year (electronic filing)

• Provisional tax payments on July 31 and December 31 based on estimated annual profits

Substance Requirements

Cyprus companies must maintain genuine economic substance to qualify for tax benefits: registered physical office address in Cyprus, qualified directors (minimum one, can be individual or corporate entity, resident or non-resident), company secretary (individual, resident or non-resident), maintenance of statutory registers and records at registered office, and evidence of actual business operations and decision-making in Cyprus.

Industry-Specific Licenses

Certain industries require additional regulatory approvals: financial services (Cyprus Securities and Exchange Commission), tourism operations (Cyprus Tourism Organisation), real estate development (various municipal and environmental permits), and regulated professions (relevant professional bodies).

Boka Company Formation Services Include:

• Initial consultation and structure optimization

• Legal entity selection and tax planning

• Company name reservation and approval

• Complete documentation preparation by licensed Cyprus lawyers

• Memorandum and Articles of Association drafting

• Submission to Registrar of Companies

• Tax Department registration and TIN acquisition

• VAT registration (if applicable)

• Social Insurance Services registration

• Bank account opening facilitation and support

• Registered office address provision (see Virtual Office services)

• Company secretary services

• Ongoing compliance support and reminders

• Annual return preparation and filing

• Connection to qualified Cyprus accountants and auditors

• Substance establishment guidance

• Industry-specific licensing support

Costs & Timeline

Standard company formation: €1,200-€3,000 depending on complexity Processing time: 7-10 business days from documentation submission Government registration fees: €130 (standard) or €230 (expedited processing) Our fee includes legal preparation, all submissions, and initial compliance setup

Why Choose Boka for Cyprus Company Formation?

Cyprus company formation involves complex legal requirements where errors create costly delays or compliance issues. Boka combines legal expertise, regulatory knowledge, and operational efficiency to ensure your Cyprus company is established correctly from day one. We've guided hundreds of international clients through Cyprus company setup—from solo entrepreneurs to multinational corporations—and understand both the legal requirements and practical realities.

Your Cyprus company opens doors to EU markets, tax optimization, and international credibility. Boka ensures you walk through that door with confidence.