Cyprus setup from formation to your first filing, all in one place.
Company, residence and tax hang together and still run through different offices. We sort out what comes in which order, put our partners on it and stay your one point of contact throughout. Tell us what you are planning.
- Tax advisers
- Lawyers
- Relocation advisers
- Yellow slip
- Company formation and US LLC
Tell us in five steps what you need
Five short questions, about a minute. The more precisely you answer, the better the partner we put on it fits.
- Independent, we do not advise ourselves
- Asking is free and without obligation
- An answer within 48 hours
How a Cyprus company formation runs
Seven steps in this order. The headings alone tell you what has to happen, and underneath each one is what you need for it. The fees and deadlines are in our guides with their sources.
- Have the company name checked by the registrarYou need two or three name proposals. The companies register checks each one separately and charges 10 € per proposal. Rejections are more common than people expect, so you send several at once.
- Have the articles and form HE1 drawn up by a lawyerYou need a passport and proof of address for every shareholder and director. In Cyprus the articles and form HE1 may only be drawn up and signed by a licensed lawyer. Nobody can save you this step.
- Set the company roles: director, shareholder, secretaryYou need at least one shareholder, one director and a company secretary. With exactly one shareholder and one director, the same person may be both. None of them has to live in Cyprus, and there is no minimum capital.
- Set a registered office address in CyprusYou need a registered office in the Republic of Cyprus. A PO box does not count. If the address changes later, that has to be reported within 14 days.
- Register the company with the registrarYou need 165 € for entry in the companies register. From that day everything else starts running on its own, and nobody reminds you.
- Apply for the tax number and file the beneficial ownersYou need the tax register entry within 60 days and the entry in the register of beneficial owners within 90 days. Two different offices, two different deadlines, and neither reminds you about the other.
- Apply for non-dom status once you are tax residentYou need tax residence first, which means either 183 days in Cyprus or the 60-day rule with your own home and an activity on the island. Then come documents such as a birth certificate and the T.F. 38 declaration. As a non-dom the special defence contribution on dividends and interest falls away. The GESY contribution of 2.65% stays, however often you read about zero per cent.
What the wrong adviser costs you
None of these are our figures. They are the Cyprus Tax Department’s, and every one of them is in our guides with its source.
- 150 €Filing the personal return late
- 100 €Filing the VAT return late, plus 10% of the tax and interest
- 85 €Every month of late VAT registration
- 10%Additional tax if provisional income is under 75% of the final figure
A wrong tax treatment on an invoice is not caught by a penalty. It is caught a year later, by your accountant, across every invoice you wrote.
Start my request nowWhat you gain by working with us
Our business is the accounting software, not the advice. That is exactly why we can say plainly which person fits and which does not.
Every Volk Accountant plan includes a portal for the client’s own accountant. We see how they work, how fast they answer and what they are good at, because they work in the same software we do.
Clients keep asking us who in Cyprus is good at what and how something can be solved. We answer that every week anyway, until now as an aside by email. This page is the proper version of it, with the same answers.
Volk Web Ltd is a Cyprus limited in Paphos, with the same VAT-4, the same monthly VIES statement and the same deadlines. We know which question an adviser answers in ten minutes and which one needs a mandate.
We charge you nothing for picking the right partner, coordinating the work and staying your point of contact. What you pay is the partner’s work and the official fees.
Who our partners in Cyprus are
Cyprus is small, and the same handful of firms keeps coming up. We work with them every day, so we know which of them is good at what.
- Tax advisers and accountantsFor VAT, the annual return, payroll and the ongoing books.
- LawyersFor contracts, company structures and anything that has to hold up in writing.
- Relocation advisersFor the move itself, tax residence and what your old country still wants from you.
- Agents for the yellow slipFor registration certificates, appointments and the paperwork around them.
- Company formation, Cyprus and beyondFor a Cyprus limited, and for the US LLC that often follows a month or two later.
What happens after you send us a request
- 1You answer five short questionsAbout a minute. No phone number, no budget question, no call.
- 2We read it ourselvesWithin 48 hours you get an email with your contact and the reason they fit your case.
- 3You decideNothing is passed on until you say yes. If you would rather not, that is the end of it.
Cyprus setup: the questions we get asked most.
What does it cost to set up a company in Cyprus?
The state charges at least 175 €: 10 € for the name check and 165 € for entry in the companies register. With the certified document set or the accelerated procedure it is 295 €, with both 515 €. Everything above that is a fee for work, not a government charge. There is no minimum share capital.
Can I do the formation myself?
The incorporation documents and form HE1 may only be drawn up and signed by licensed Cyprus lawyers. So that part is not yours to do, which is exactly why the first question is who does it for you.
What has to happen after registration?
Two deadlines start immediately: 60 days for the tax register and 90 days for the register of beneficial owners. Neither office reminds you about the other. Anyone who only incorporates and then waits misses them.
What does your service cost?
Asking costs nothing and commits you to nothing. What the service itself costs depends on what you need, because a complete setup is not the same as a single formation. We name the price in our reply, before you decide.
How fast do I get an answer?
Within 48 hours, by email, with your contact and the reason they fit your case. We read every request ourselves. Nothing is passed on until you say yes.
Do you advise yourselves?
No. Volk Accountant is accounting software for Cyprus companies, and Volk Web Ltd is a Cyprus company itself. The advice and the formation are handled by our partners on the island, on their own responsibility. Our part is putting the right one on it and being your point of contact. On top of that we have our own experience and contacts in Cyprus, which is why we can say independently what the better decision is in your case.