Why to set up a company in Cyprus and how much does it cost?
At NOMAD TAX we are dedicated to the creation and management of companies in Cyprus, providing you with detailed knowledge for the registration of your business, maximizing the tax benefits and strategic opportunities available in Cyprus. Whether your interest lies in taking advantage of its advantageous tax system, its key geographic position or direct access to important markets, we are committed to accompanying you every step of the way.
How can we help you in Cyprus?
- Professionalism: We have a legal team located in Cyprus.
- Low Taxes: You will achieve 12.5% taxation.
- Efficiency: We process residence and tax residence visas.
- Agility: We can complete your process in an express way.
- Team: You will be accompanied along the way by our colleagues.
Prices to set up a company in Cyprus
COMPANY IN CYPRUS
ideal for creating your offshore structure-
Company
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Company Name Verification and Approval
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Includes Director(s) Register (1/2)
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Includes shareholder registration (Up to 4)
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Company registration with the Registrar of Cyprus
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Company Certificates
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Tax Identification Code
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VAT number
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Individual
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Non-Dom Application
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Yellow Slip Application
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Individual Tax Number Application
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Benefits of NOMAD TAX
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Personal contact and advice
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Accessible Accounting and Audit Solutions
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Tax Reminders and Significant Dates
COMPANY + NON-DOM
If you want to have your tax residence in Cyprus-
Company
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Company Name Verification and Approval
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Includes Director(s) Register (1/2)
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Includes shareholder registration (Up to 4)
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Company registration with the Registrar of Cyprus
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Company Certificates
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Tax Identification Code
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VAT number
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Individual
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Non-Dom Application
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Yellow Slip Application
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Individual Tax Number Application
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Benefits of NOMAD TAX
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Personal contact and advice
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Accessible Accounting and Audit Solutions
-
Tax Reminders and Significant Dates
Accounting and auditing
For the management of your company in Cyprus-
Tax Administration and Filing
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VIES Filing of EU Sales
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VIES summary statement
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VAT return
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Bookkeeping
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Audit
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Defense contribution income tax return
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Annual Company Transactions
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Income up to 200.000€ per year
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Transactions (purchases/sales) up to 300
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Multiple bank accounts
***The above prices are indicative and subject to confirmation for each specific client.
Consultancy
Analysis to the point for those who are clear-
Detailed analysis: Pros & Cons
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Analysis of tax benefits at origin and in multiple countries
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Identification of risks and disadvantages of each strategy
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Indicative quantitative analysis
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Communication and presentation of the consultation
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Gathering of information by filling out a preliminary form
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60 minutes of video call to present the strategy
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Second call for an extra 30 minutes
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Resolution of doubts Post consultation: 2 mails
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Post consultation process
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Details of the concrete steps for strategy execution
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Customized quotation to implement strategy
Cyprus has one of the lowest tax rates in Europe
Did you know that Cyprus has a tax system that is like a magnet for companies?
The corporate tax rate is super attractive, only 12.5%.
In addition, it has double taxation agreements with many countries and offers tax exemptions for investments and dividends. This means that companies can save a lot in taxes and have more resources to grow and expand.
Another great advantage of Cyprus is that it offers a stable political and economic environment.
This provides a sense of security and confidence to investors and entrepreneurs. You don’t have to worry about sudden changes in the rules of the game here.
In Cyprus stability is the norm allowing you to focus on growing your business without worry.
Do you know the benefits of Non-Dom status in Cyprus?
60-day rule in Cyprus
Did you know that one of the most popular ways to obtain tax residency in Cyprus is through non-dom status?
Non-dom tax residents in Cyprus need to stay only 60 days in the country to be taxed there.
This is a refreshing change from the 183 days required in many other places to be considered a tax resident.
17-year warranty
In Cyprus you have a certainty that you will be able to enjoy the coveted non-dom status for a period of 17 years.
We cannot overlook the fact that Cyprus has been part of the European Union since 2004. This privileged status gives companies that choose to establish themselves in this beautiful country access to an extraordinary market of more than 500 million people.
Cyprus’ membership in the EU not only guarantees the free movement of goods, services, people and capital but also places Cypriot companies in a strategic position to operate within a stable and predictable legal and economic framework.
Other Tax Benefits Cyprus Can Offer You
Taxation of Dividends In Cyprus
In Cyprus you will not pay taxes on your dividends.
As mentioned above, you will only pay a modest 2.65% in case you are a tax resident of Cyprus and this is to contribute to the national healthcare system.
Taxation of Interest in Cyprus
In Cyprus people are generous. Whether you want to make a gift or inherited something from your close relative, you can do so you will have full exemption from interest income tax with your income, whether from foreign or local sources.
Gift taxes in Cyprus
In Cyprus, donations are an act of generosity that is tax-free. Whether you choose to donate to local charities or personal causes, you can do so without worrying about taxes.
In addition Cyprus has no capital gains tax
Unlike many other countries that tax gains generated from the sale of shares and other securities, in Cyprus these gains are tax-free.
Imagine this: your investment income may be taxable (although this depends on how you hold your investments and how long you have lived in Cyprus), but any profit you make from your original investment is completely tax-free.
And here comes even better news: this also applies to shares in companies. So, if you plan to sell your business before retiring in Cyprus, you may want to wait until you are officially tax resident here.
This tax advantage gives you the opportunity to maximize your profits and ensure that your investment grows without taxes getting in the way. It’s a great way to plan for your financial future in a favorable tax environment.
FAQ
The cost associated with the tax management and audit services package is not included in the company formation fee, although it is an essential part of the overall business formation package.
Upon successful completion of your company’s registration and the initiation of accounting obligations, your assigned Consultant will proceed to activate the tax management package.
The tax management and audit package is valid for a period of one year. For specific details, we invite you to review our rates.
