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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:

  1. Decide the business status of the entity (e.g. Limited Liability Company, Partnership or Private limited company).
  2. 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).
  3. Memorandum and articles of association documentation should be drafted.
  4. 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:

  1. Open a bank account
  2. Register for Cyprus tax purposes and check your obligations for Cyprus VAT registration
  3. Register for Social Insurance Contribution
  4. 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?

To register a company in Cyprus, you must provide a local business address, appoint a director and a secretary.

How long does incorporation take?

Once all the documents are submitted, it usually takes 2 - 4 weeks. But in some cases it is possible to expedite the procedure.

Who can be a director?

All persons over 18 years: locals or foreigners. If the director is non European, a work permit is required. You can have as many directors as you want, or it can be just you.

Can I assign a nominee Director?

A Nominee Director can hold the position of Director without actual decision-making powers or authority to manage the company. His or her only obligation is to act in the best interests of the Company and in accordance with the law.

What is the process to open a company in Cyprus?

We check if the company name you have chosen is available. You send us your passport copy and details of the directors and shareholders. We prepare all necessary documents, send them to you for signature and submit them to the Cyprus Company Registrar. Once your company certificates are issued, your company is ready to operate.

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.

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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.

Read more about our accounting and legal services and reach out for a free talk about improving your business setup in Cyprus.

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.

- Stephan Stephensen
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.

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