The Republic of Cyprus is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean, a member of EU since 2004. Although Cyprus law is extensively codified, it is still heavily based on English Common Law in the sense that the fundamental principle of precedent applies.

Cyprus has been sought as international business center through which foreigners choose to conduct their business for its lowest income tax rates in the EU and other favorable tax provisions.

The official languages are Greek and Turkish and the currency is Euro (EUR).

Company Incorporation and local Requirements

COMPANIES FEE SCHEDULE

Basic package

New company (Euro 1.000 Share Capital) – 2.000 Euro

Shelf company (less than six months old) – 2.500 Euro

Annual fees

Company Secretary – 300 Euro

Registered office (company or branch) – 300 Euro

Government Annual Levy – 350 Euro

Confidential package

Corporate shareholder (each) – 350 Euro or

Physical shareholder (each) – 1.250 Euro

Corporate director (each) – 500 Euro or

Physical director (each) – 1.750 Euro

Physical person representative in Greece – 400 Euro

Authorised person Cyprus branch – 600 Euro

COMPANY RELATED COSTS

Power of Attorney without notarisation – 150 Euro

Power of Attorney with notarisation – 175 Euro

Notarisation of documents – 150 Euro