Guide8 min read · Updated 2025

How to Open a Company in Cyprus: The Complete 2025 Guide

A practical step-by-step guide for international entrepreneurs and business owners wanting to register a company in Cyprus — from name approval to bank account opening.

7–10 working days typical·100% remote possible·English language throughout

This guide is for general informational purposes only. Requirements, timelines, and thresholds may change. Always work with a qualified professional and verify current rules before taking action.

Choose Your Company Name

1–3 days

The first step is selecting a company name and submitting it for approval to the Registrar of Companies. Names must be unique and are checked against existing registrations. Certain words (e.g. "bank", "insurance", "Cyprus") may require special approval or are restricted. Having 2–3 alternatives ready speeds up this stage.

Avoid names identical or very similar to existing companies

Check availability via the Cyprus Registrar database

Generic descriptive words may be rejected alone

Prepare Formation Documents

3–5 days

A Cyprus private limited company requires a Memorandum and Articles of Association. These define the company's purpose, share structure, and internal rules. You will also need to identify your directors, shareholders, and company secretary. Foreign shareholders and directors will typically need notarised and apostilled identity documents.

Standard M&AA is sufficient for most businesses

Directors can be non-Cypriot residents

At least one company secretary required

Register with the Registrar of Companies

5–7 days

Documents are submitted to the Registrar of Companies. Upon approval, the company receives a Certificate of Incorporation, a Certificate of Directors and Secretary, and a Certificate of Shareholders. This is the legal birth of your Cyprus company.

Online submission available

Expedited registration available for a fee

Registered office address required in Cyprus from day one

Obtain Tax Identification Number (TIN)

5–10 days

After incorporation, the company must register with the Cyprus Tax Department to obtain a Tax Identification Number (TIN). This is required for all tax filings and correspondence with the tax authorities. Registration is typically done electronically via the Taxisnet portal.

Required before opening bank accounts in most cases

Required for issuing invoices to Cypriot counterparties

The company's first tax year begins at incorporation

Register for VAT (if applicable)

5–15 days

If your company expects annual taxable turnover to exceed the Cyprus VAT registration threshold (currently €15,600 — verify with your advisor), or if you are making intra-EU supplies, you may be required — or may choose — to register for VAT. VAT registration is handled by the Cyprus VAT Service and gives your company a Cypriot VAT number.

Voluntary registration is possible below the threshold

Mandatory for EU cross-border supplies in most cases

VIES registration required for intra-EU transactions

Open a Cyprus Bank Account

2–8 weeks

Opening a bank account for a Cyprus company is typically the most time-consuming step. Cyprus banks perform thorough due diligence. You will need to provide full KYC documentation including company documents, director identity documents, source of funds explanation, and a business plan. Our firm can introduce you to suitable banking options.

Allow 4–8 weeks for bank account opening

Full KYC documentation required

International EMI accounts can be opened faster as an interim solution

Set Up Accounting & Compliance

Ongoing

All Cyprus limited companies must maintain proper accounting records, file annual returns, and undergo a statutory audit of their financial statements. Accounting must begin from the date of incorporation. Setting up cloud-based bookkeeping from day one makes compliance significantly easier.

Accounting records must be maintained in Cyprus or accessible from Cyprus

Statutory audit is mandatory for all Cyprus Ltd companies

Annual return (HE32) must be filed with the Registrar

After Formation — Ongoing Obligations

Cyprus companies have ongoing annual obligations. Understanding these from the start helps you budget and plan properly.

Monthly accounting and bookkeeping
Quarterly VAT returns (if VAT registered)
Monthly VIES submissions (if making intra-EU supplies)
Monthly payroll and social insurance (if employing staff)
Annual corporate income tax return (IR4)
Annual personal tax return for directors (IR1)
Annual audit by a registered Cypriot auditor
Annual return filing with the Registrar of Companies
Annual levy payment (€350 per year)

Ready to open your Cyprus company? Let us handle the entire process.

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