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Digital Company Formation

Cyprus Non-Resident

Tax Haven Jurisdictions


An Independent sovereign state, which gained independence from the United Kingdom in 1960 - The Turkish invasion in 1974 created a separate Turkish controlled territory called 'North Cyprus' but it is not recognized by the United Nations or the European Union. This text refers to 'Greek' Cyprus, which is a full member of the European Union and enjoys a favorable tax treaty network with Eastern Europe and very favorable corporate tax rates. The jurisdiction also has one of the World's largest merchant fleets.

Recommended Use:

A Cypriot non-resident company is a tax-free company not required to pay the annual 10% Cypriot corporate tax rate. It is however still required to submit annual audited accounts whether the company has or hasn't traded notwithstanding that such 'trade' is non-taxable and carried out outside of the Cypriot Republic. In précis, Cyprus is recommended where a 'prestige' non-traditional tax haven is required at annual costs not too dissimilar to a tax haven – Such as structure however is not recommended where tax treaty exploitation is required as non-resident companies do not benefit from the Cypriot double taxation treaty network or indeed the EU directives and regulations.

Star Ratings

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South of Greece and north of the African continent. Size 3,572 sq. miles. Population 700,000

Relationship with the UK

Former British Colony but now a full European Union Member with very close relations with both Greece and the United Kingdom. Tensions can flare up occasionally due to UK maintenance of two 'Sovereign' military bases on the Island Perhaps even more importantly, as the tax exempt/holding company structures have been sanctioned by the European Union Commission, it is very difficult for other EU member states to discriminate against Cypriot based companies through their general anti-avoidance tax provisions. Certainly Cyprus is unique in its ability to provide such benefits within the EU and is without doubt the best location for inter-EU trading/holding companies and for high earning international consultants looking for a legal cost effective base for their activities.

Advantages of a Cypriot Non-Resident Companies

  • A full member of the European Union
  • English the language of business and commerce
  • No corporate tax is payable
  • Company Law is based upon that of England & Wales
  • Trusts are recognized
  • Excellent communication
  • Most 'key' professionals have trained in the UK
  • Many UK banks have a local presence
  • Low crime rates


The formation procedure in Cyprus adheres to standard common law practice. In most cases, a company will be formed on the instructions of a client through the use of the registered agent as the initial incorporator. The governing statutes are known as the memorandum and articles of association. In most cases 'nominee' directors will be maintained to ensure confidentiality. Remember, a register of members must be maintained at the company's registered office in the Nicosia. 'Directors', (nominee or not) arrange for the issuance of shares and take all other normal board decisions.

Corporate Requirements

Name: The name of the corporation may be in Greek or English. It must contain the word(s): Limited or Public Limited Company

Capital: The authorized share capital will normally be expressed in Euros and can have as little as €2.00 in issued shares. Authorized share capital is normally at least €1,000.00 but often much more.

Registered office agent: All companies incorporated in Cyprus must maintain both a registered office and agent in the jurisdiction.

Amendments: Amendments are made in accordance with the terms and conditions outlined in the memorandum and articles of association. In most cases, either the board of directors or shareholders must take important decisions.