Incorporation in Cyprus
Setting up a company in Cyprus is easy. We manage the incorporation online and guide you through the process step by step. Most of our clients choose Limited Liability Companies - as they meet the needs of most entrepreneurs and the process is fast.
We help both locals and foreigners to set up a company. You do not need to be present in Cyprus to start a business here.
Setting up a company in Cyprus
Even though the Cyprus system for incorporating a company is not fully digitalized, there are a few steps that need to be followed to avoid delays in setting up a company. Below is a summary of the procedure that needs to be followed:
- Decide the business status of the entity (e.g. Limited Liability Company, Partnership or Private limited company).
- Check the availability of the name that suits. It is important that you choose a name that will be accepted by the Department of Registrar of Companies and Official Receiver. (3 optional names should be provided).
- Memorandum and articles of association documentation should be drafted.
- Submit the relevant documentation to the Department of the Registrar of Companies and Official Receiver) – e.g. HE1, HE2, HE3, reservation of the name, memorandum and articles of association. In addition, documentation should be provided for every shareholder (passport and address), directors (passport/ID and address) and registered office address of the entity. The procedure should be executed by a Cyprus registered lawyer.
After the incorporation of the company the following actions are recommended:
- Open a bank account
- Register for Cyprus tax purposes and check your obligations for Cyprus VAT registration
- Register for Social Insurance Contribution
- Obtain a special license / authorization if require by the Cyprus government due to industry’s regulations
Here's a few answers to your questions
What are the requirements to open a company in Cyprus?
How long does incorporation take?
Who can be a director?
Can I assign a nominee Director?
What is the process to open a company in Cyprus?
Do I need a company address?
Yes, all Cypriot companies must have a local registered address. It will appear on all legal documents. If you do not have an office address, you can use our service. We will process your incoming mail, scan it and store it in your online account so you have easy access to all your documents. In certain cases you can also use your home address as your company address.
Can I move my existing company to Hügge Consult?
You bet - and we will handle the entire procedure on your behalf.
We usually advise clients to wait until the end of the current fiscal year to avoid any extra costs with your current service providers. But it all depend on the structure of your setup in the end.
Hügge Consult review
Moved to Cyprus last year with plans to start a mobile game studio. I contacted many different “consultants” to get prices and help, but they all felt very old fashion and did not really understand my business. Then I found Hügge Consult and they have helped me ever since.
Are you ready for this?
A partnership with us is about more than accounting services or legal advice. We want to know your business and help you exceed any way we can.