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Privacy Management Group
+357 240 204 00
61-63 Lord-Byron-Street
Office 501 / 502, 5th Floor
6023 Larnaca, Cyprus
  • Cyprus - Company Formation
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    Complete formation fees at a glance

    Cyprus company formation (Cyprus Limited)

    Free foreign language advice on legal and tax affairs included
    Check and reservation of company name with the Cyprus Registrar of Companies in Cyprus (EU) included
    Preparation of company articles and documentation for your Cyprus entity included
    Draft of Memorandum and Articles of Association and submission to the Registrar of Companies included
    Payment of registration fees to the Cyprus Registrar of Companies included
    Certification of company documents including English translation included
    Service manual including full original documentation of the Cyprus company included
    Documents ready to be collected from our office or sent by a courier included

    Cyprus TAX Activation, VAT NO., Opening Balance, VAT Services

    Application for Tax and VAT number for your Cyprus company included
    Set-up of opening balance and VAT accounts included

    Registered Office, Registered Agent, Support With Legal And TAX Advisory

    Appointment of registered office and registered agent included
    Free telephone and advisory services in different languages included
    Free legal and tax advice for your Cyprus company included
    Legal compliance included

    Including guaranteed and
    free account opening

    Including guaranteed and free account opening

    Privacy Management Group will assist you with the guaranteed opening of your business account, the activation of online banking and the activation of your VISA-MasterCard – all of which you receive free of charge. Your personal presence is not required for the account opening.

     
    Bank Account VISA/MasterCard Online Banking Minimum deposit
    Minimum balance
    Price in USD
      Bank of Cyprus 1000 EUR
    free of charge
      Astro Bank 400 EUR
    free of charge
      RCB Bank 500 EUR
    free of charge

     

    Would you prefer to open an account with another bank or financial institution?
    No problem, in that case we will credit your account for USD 150.00 . Please select the financial institution or bank of your choice under the option “Additional Bank Accounts”.

    Total formation fees (one-time charge) 2,650.00 Euro
    Cyprus Company Formation

    After the formation, the tax structure of your company will be set up. The bookkeeping is activated with VAT and a tax number. Thereafter, our team of internal experts will take care of all tax and legal responsibilities that arise in connection with your company.

    Optional Services: Additional Bank Accounts

    OPTION: ADDITIONAL BANK ACCOUNTS

    International offshore commercial banks (SWIFT, VISA-MasterCard, online banking)

      VISA/MasterCard Online Banking Minimum deposit
    Minimum balance
    Price in USD
      TBC Bank
    USD 290.00
      Loyal Bank USD 750
    USD 420.00
      Global Bank of Commerce USD 5,000
    USD 5,000
    USD 395.00
      Bank of Saint Lucia Int. USD 5,000
    USD 5,000
    USD 395.00
      Choice Bank USD 25,000
    USD 25,000
    USD 990.00
      OCBC 30.000 EUR
    30.000 EUR
    USD 990.00
      Bank of Cyprus 1000 EUR
    USD 390.00
      Astro Bank 400 EUR
    USD 420.00
      RCB Bank 500 EUR
    USD 420.00
      i-Account
    USD 190.00

    Complete administration, bookkeeping, and accounting including attestation

    Balance Sheet Accounting / VAT

    The monthly bookkeeping. Submission of the VAT returns to the tax authorities included
    Creation, review and consultation of the annual company balance sheet included
    Review and attestation of the balance sheet by our auditor included
    Submission of the annual balance sheet and applications, communication with financial authorities included
    Examination of the tax assessment and consultation with our clients included

    Payroll Accounting And Social Insurance

    Completion of the ongoing payroll accounting included
    Disclosure of social insurance obligations, application for social insurance numbers included

    TAX Consultancy And Other Services

    Tax consultancy (ongoing support), tax optimisation, international tax planning included
    Legal and tax advice for Cyprus, representation, lodging of appeals included
    including registered office, registered agent, nominee fees included
    Optional: Total fees for 12 months
    including bookkeeping and accounting
    3,850.00 Euro

    Additional services

    Option: Merchant Account

    A merchant account, among other things, will allow you to accept payment by credit card. Our partner in this field offers merchant account services for European businesses and offshore companies. We charge you a one-time service fee for our active support during the application process.

    Merchant Account one-time charge EUR 300.00

    Trusteeship

    We will discuss with you the advantages and disadvantages of a trusteeship solution, will detail relevant approaches upon request and will be right by your side during the entire process.


    Summary of all fees

    Formation fees (one-time charge) one-time charge 2,650.00 Euro
    Annual administration fees for 12 full months every 12 months 3,850.00 Euro
    Total amount   6,500.00 Euro

    All fees are additionally subject to 19% VAT.


    Due date of the formation fees and initial annual fees

    The formation fees (one-time charge) of EUR 2,650.00 are due for payment at the time of order placement. The initial annual fees of EUR 3,850.00 are due once your company is enteredin the commercial registry of Nicosia, Cyprus. All fees are additionally subject to the statutory Cyprus VAT rate of 19%.


    Due date of the annual fees subsequent to 12 months after formation

    Twelve months after formation of the Cyprus company, the annual fees again come due for payment. These include all services in accordance with Item (2) and amount to EUR 3,850.00 plus 19% statutory VAT for each twelve-month period. You will automatically receive an annual bill of charges by mail.

    Note: In principle, the incurred VAT can be recovered through submission by the Cyprus company of an application for a “VAT refund”.


    Annual Levy

    The yearly “Annual Levy” has been imposed by the Republic of Cyprus since 2011 and amounts to a general charge EUR 350.00 for each company. Due date for payment: June 30 of each year (not included in Item (2)).

    Contact & Consultation

    Do you have questions about our fees?

    We are here for you. Privacy Management Group received a renewed ISO 9001:2008 certification by TUV NORD in May 2016 and is also licenced by the Institute of Certified Public Accountants of Cyprus (ICPAC) ( view certificate).

    We look forward to meeting you.

    Legal Information and Terms of Use

    We would like to point out that earnings generated abroad may be liable to taxation in your home country. We do not carry out legal and tax advisory.
    You are solely responsible for the fulfilment of your tax obligations. Please inform yourself of any existing tax responsibilities in your country of residence with the aid of a trusted tax advisor or lawyer. Please take note of our "Terms & Conditions".

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