CYPRUS LIMITED COMPANY (LTD)
This package is designed for clients who operate companies by themselves as company directors and shareholders. A basic setup with minimum mandatory services.
You can custom-configure your Cyprus LTD in any way you need!
Includes the following
certificate of incorporation; certificate of registered address; certificate of directors and secretary; certificate of shareholders and share capital.
Total package fee including VAT: € 1150.75
The annual administration fees for this package, starting from the second year would start at € 1000. This includes the mandatory registered address and secretary service, preparation of company’s annual return with the registrar, preparation of yearly minutes for Annual General Meeting, preparation of annual UBO register declaration and annual compliance fee.
(!) All Cyprus companies are required to prepare accounting records and audited financial statements. Our fees can be agreed in advance depending on the activities, volume and complexity of transactions.
(!) Total annual administration fees indicated are exclusive of VAT (19%).
This package is designed for clients who passively hold shares, portfolios, other personal assets, does not engage in active trading or services business and require Cyprus based directorship services but not registration with the VAT authorities.
Includes the following
certificate of incorporation; certificate of registered address; certificate of directors and secretary; certificate of shareholders and share capital.
Total package fee including VAT: € 1745.75
The annual administration fees for this package, starting from the second year: € 1500. This includes the mandatory registered address and secretary service, director service fee, preparation of company’s annual return with the registrar, preparation of yearly minutes for Annual General Meeting, preparation of annual UBO register declaration and annual compliance fee.
(!) All Cyprus companies are required to prepare accounting records and audited financial statements. Our fees can be agreed in advance depending on the activities, volume and complexity of transactions.
(!) Total annual administration fees indicated are exclusive of VAT (19%).
This package is designed for those clients who actively trade or provide services globally and require Cyprus based directorship services and registration with the VAT authorities.
Includes the following:
certificate of incorporation; certificate of registered address; certificate of directors and secretary; certificate of shareholders and share capital.
Total package fee including VAT: € 2102.75
The annual administration fees for this package, starting from the second year: € 1500. This includes the mandatory registered address and secretary service, director service fee, preparation of company’s annual return with the registrar, preparation of yearly minutes for Annual General Meeting, preparation of annual UBO register declaration and annual compliance fee.
(!) All Cyprus companies are required to prepare accounting records and audited financial statements. Our fees can be agreed in advance depending on the activities, volume and complexity of transactions.
(!) Preparation and submission of VAT return-per quarter from € 200. Preparation and submission of VIES return-per month from € 50 (if applicable).
(!) Total annual administration fees indicated are exclusive of VAT (19%).
Note: VAT in majority of cases can be claimed back when company is registered with VAT Department.
Additional Costs and Charges
Service | Cost | Details |
---|---|---|
Name-approval fee | €50 | The Registrar actually charges a fee to officially approve that a desired company name can be used. We must file a specific application for name approval. One name-approval is included in our standard registration price. |
Compliance fees | €0 to €300 | The anti-money laundering laws require that all agents fully identify their new clients and evaluate a lot of information prior to accepting them. This is the most time-consuming part of the entire registration process. It becomes especially burdensome for company registrations involving multiple owners and complex control structures. To compensate for this, it is not uncommon to charge a ‘compliance fee’. The compliance fee will normally be omitted for simple, single-owner structures. |
Apostille legalization of full set of Certificates | €150 | A full set of official copies of your incorporation documents, with a cover letter certified and legalized by Apostille. Very useful, if the documents must later be presented outside Cyprus. |
Courier delivery costs | From €50 | Unless You trust the speed and reliability of regular post, sending the corporate file by courier mail is usually a good idea. |
Value added tax | 19% | Most professional services in Cyprus will incur a 19% VAT. This will normally be charged on top of your bill. VAT does not apply to all government fees and to operations with shares. |
Optional Additional Services
These the most common optional services. You may or may not need them, depending on your objectives, company structure and business circumstances.
Cyprus-resident company director (corporate body) | €500 | If the new company wants to prove its tax-residence and management in Cyprus, having a Cyprus-resident director is practically a must. Corporate directors are allowed and often used. Annual fee. |
---|---|---|
Cyprus-resident company director (physical person) | €1000 | Same as above, but provided by a licensed physical individual. A more natural and more elegant setup. Annual fee. |
Nominee shareholders | €300 | Company shareholder data is on public registry in Cyprus. This service shields that information. If ownership privacy is not a concern, this service is not needed. Annual fee. |
Certificate of Good Standing | €100 | A standard document evidencing continued existence of the company. May be asked from time to time by the bankers. Not needed at time of incorporation. |
Certificate of Incumbency | €100 | Also a standard document that describes the structure and functionaries of the company. May be required from time to time in certain business situations. |
Corporate bank account introduction in Cyprus | €500 | Assistance with the application and opening of the company bank account in Cyprus. Lots of paperwork, complex forms and tricky questions. Professional assistance is recommended, but by no means obligatory. |
Bank account signatory | €300 | For various tax and regulatory reasons, a company bank account should better be operated by the company director. If directorship services are employed, this is a necessary option. Operation of bank accounts by the foreign owner based on a power of attorney is an out-dated practice, which may cause serious personal tax problems. |
Annual bank introducer fee | €150 | Applicable only to bank relationships established within Cyprus. Banks require joint compliance of the introducing agent in respect to their customer. Effectively, an annual responsibility fee. |
VAT Registration | €300 | This is optional and only necessary for companies that actively trade in goods or services that are subject to Cyprus or EU VAT. |
Accounting Fees
All active Cyprus companies must keep full books and records, conduct proper accounting, prepare and file tax returns and pay actual tax as and when applicable. Unlike traditional offshore IBC’s, Cyprus companies are, by and large, tax-resident in their country of registration (i.e. Cyprus) and subject to its domestic fiscal regulations. In particular, Cyprus companies must produce audited financial statements on an annual basis.
Fidesta provides qualified accounting and book-keeping services to its corporate clients, which also includes preparation and filing of all applicable tax returns and professional advice on tax matters.
As a general rule, the accounting fees are directly proportionate to the time required for a qualified professional accountant to evaluate, process and book all the actual transactions of a company, all while using the most efficient technology in terms of hardware and software. Therefore, generally speaking, the actual accounting and book-keeping fees will depend on the volume of business, but even more on the complexity and structure of transactions and how tax applies to such transactions. For example, it may be easier to process and book a large volume of similar online sales transactions than to properly assess and book one complex long-term derivatives-trading contract. The following is just a guidance.
General accounting and book-keeping fees | €500 | Starting fee, typical for a personal holding company with simple balance sheet structure and minimal transactions. The fees can be significantly higher for actively trading businesses with large volume and/or complex transactions. Actual disbursements and execution fees may be charged extra. |
---|
Audit Fees
By definition, annual audit must be conducted by an independent outside auditor, who has the appropriate legal qualifications. Audited financial statements must be prepared for all active Cyprus companies and must be filed on annual basis with the Cyprus registrar of companies and Cyprus tax authority.
As it must be independent, the annual audit is not and can not be conducted by Fidesta. This service is contracted to a reliable third-party audit firm. The following is just a guidance.
Annual audit fees | €600 | Typical fee for conducting the annual audit and preparation of audited financial statements for a private holding company with modest amount of transactions. The fees can be significantly higher for complex, actively trading businesses. |
---|
We do not insist on contracting any particular auditors and our clients are free to choose their audit service provider on open market. We do not and will not discriminate against any of our clients based on their decision to outsoure the audit services to a different service provider.
Conclusion
The actual total fees and charges to maintain your Cyprus company can vary significantly, but will generally consist of the components described above. The total maintenance cost will depend on the management model of your Cyprus company, the geography and typology of its business operations and the personal tax circumstances and requirements of company owners.
For further information as to how cyprus companies are usually constructed and which services may work for you, there is plenty of useful information in the Cyprus Company Services, Case Studies, and Knowledge Base chapters in this website. If that information still does not seem to answer your questions, please contact us with your question!
Our full price-list is available for download here!
We will be happy to provide further guidance during a personal call, chat or email.
Our online company configurator will enable you to submit your desired configuration, provide you with precise cost based on the services you require for your Cyprus company.
Fidesta Limited
Office 401, 4th Floor,
Strovolou 77, Strovolos,
Nicosia 2018,Cyprus
Fax :