Cyprus

Type of company	LTD
Disclosure of Beneficial Ownership to Government Authorities	No
Tax on Profits	10%
Corporate Legislation	The Companies Law

Min. No. of Shareholders	1
Min. No. of Directors	1
Min. Share Capital	CYP 2.00
Corporate Directors Allowed	Yes
Nominee directors allowed	Yes
Nominee shareholders allowed	Yes
Company Secretary Required	Yes
Standard Authorised Share Capital	CYP 1000.00
Bearer Shares Allowed	No

Local Registered Office	Yes
Local Registered Agent	Yes
Local Company Secretary	No
Local Directors	No
Local Shareholders	No
Local Meetings	No
Government Register of Directors	Yes
Government Register of Shareholders	Yes

Annual Return	Yes
Annual Accounts	Yes
Tax Return	Yes

• Can not do banking, insurance without special license.
• Naming Restrictions – In line with global norms, prohibited words include, for example “Bank” and “Building Society”, and the registry has discretion to reject names that are indecent, offensive or misleading.

• Cyprus has entered into more than 40 double taxation treaties (see list)
• Dividends, royalties arising from the use of an asset outside Cyprus and interest payments to non-residents are now exempt from withholding tax.