Company formation in Cyprus
COMPLIMENTARY CONSULTATION FROM THE WORD GO!

Privacy Management Group in Cyprus provides the expertise of a team of European specialists for over ten years. Our professionals know from their own long experience in which areas you need active support and guidance. Based on the understanding and knowledge of more than three decades as management consultants, tax advisors and lawyers, and further specialised expertise of our professional team, the following service programme has been developed for you.

From the word go in the planning phase, you can rely on our expertise and benefit from the following services:

  • Free of charge introductory expert advice
  • Get your questions in the planning phase answered via live chat
  • Introductory & expert in-house specialist advice free of charge

In addition, we are available to answer any questions you may have about education, real estate, living in Cyprus, health and social care etc.

Our services
ALL SERVICES UNDER ONE ROOF

PMG’s legal team is familiar with European and Cypriot law, and the head of the legal department has been a member of the Cyprus Bar Association for over 30 years. Many of our tax advisors, accountants and management consultants have been with us for over 10 years. Privacy Management Group provides all services under one roof. The formation costs for setting up a company are a one-time, flat-rate EUR 2,850.00, excluding VAT.


Benefits of a Single Source Provider
Complimentary legal and tax advice YES
Complimentary name check at the Registrar of Companies YES
Preparation of all necessary incorporation documents YES
Preparation of the memorandum and articles of association YES
All fees paid YES
Incorporation documents YES
A to Z directory incl. complete original documentation YES
Courier delivery or collection from our business centre YES

Bank Accounts
Complimentary business account opening in Cyprus YES
Complimentary personal account opening in Cyprus YES
Complimentary advice – worldwide bank account opening** YES

Registered Office and More
Complimentary provision of registered office and Company Secretary YES
Upon request provision of nominees YES

Legal and Tax Advice
Obtaining corporate and individuals tax number YES
Obtaining Value Added Tax number (VAT) YES
Opening balance sheet upon request YES
Continuous bookkeeping and income tax accounts YES
Monthly profit and loss sheet YES
Provision of employment contracts YES
Monthly payroll preparation YES
Obtaining social insurance number(s) YES
Ongoing legal and tax advice for the Republic of Cyprus YES

Operational in Cyprus
Assistance to find suitable premises for your business YES
Review of rental & purchase offers and contracts through our in-house experts YES
Lease contract and tenancy review YES
Support to obtain telephone and internet accounts YES
We walk to extra mile for our clients YES

Cyprus corporate law allows combining personal residence and company premises.

The incorporation of a company in Cyprus takes approximately 10 working days.

Once your company is active, tax and VAT numbers are in place, your personal accountant will contact you.

Total formation fees (one-off)
EUR 2,850.00*
Tax advice incl. Bookkeeping, accounting and audit
Annual fees for the complete package, due every 12 months

All services from one source! Our company employs only legal advisors, tax advisors and accountants with many years of experience, who will be happy to assist you or your company at any time. It goes without saying that our company has the ICPAC certification required in Cyprus. The following services are included in the annual fees, which are due every 12 months:


Tax Advice Incl. Bookkeeping, Accounting and Audit
Tax advice for your company YES
Complimentary client support by email, telephone or in person at our offices YES
Monthly payroll services free of charge for our clients YES
Quarterly VAT reporting YES
Ongoing bookkeeping YES
Preparation of audit YES
Review and obtaining client’s approval YES
Submission of audit preparation to auditors YES
Submission of IR4 (COMPANY’S TAX RETURN) to Cyprus tax authorities YES

Administration and Other Services
Registered office in Cyprus free of charge YES
Company secretary free of charge YES
Nominee services (if requested) YES
General Power of Attorney in case of nominee services YES
Immigration service YES
Obtaining Non-Domiciliation Status YES
Relocation Services incl. advice on international schools in Cyprus YES
Transaction Rates select within the first
twelve months
Summary of total fees
Formation fees in Cyprus EUR 2,850.00
Company without activities per 12 months EUR 1,750.00
TOTAL COST EUR 4,400.00*
Settlement Date for the Incorporation and First Annual Fees

The incorporation fee (one-off payment) of EUR 2,850 is due upon acceptance of a new client, accompanied by the chosen first annual fees. All fees are exclusive of VAT, which is 19% in Cyprus.


Settlement Date of Annual Fees Every 12 Months Following Company’s Incorporation

The annual fees will be due twelve months after the registration of your company in Cyprus. These are inclusive of all services according to the package of your choice. You will automatically receive an invoice, sent by email.

Note: A Cyprus VAT registered company has the right, under certain conditions, to claim refundable VAT.

*exclusive of 19% VAT

**upon request