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    COMPANY FORMATION WITH A COMPLETE PACKAGE

    Privacy Management GroupLtd. in Cyprus offers you legally secure and seamless formation of your Cyprus Limited/Cyprus Holding company. Starting with complete documentation for your Cyprus... Further >

     

    TAX AND LEGAL ADVICE FOR CYPRUS

    Privacy Management Group offers you continuous support, without time limitations or additional fees!

     

    TAX ADVICE, BOOKKEEPING, ACCOUNTING

    All services from one source! Privacy Management Group in Cyprus exclusively employs established specialists, lawyers, tax advisers and accountants with years of experience, whom are happy... Further >

     

    DIRECT ACCESS LOCALLY IN
    CYPRUS

    Privacy Management Group has been a long-standing banking introducer and associate in Cyprus, with offices in Larnaca, Nicosia and Paphos. Whether it is a matter of relocating to Cyprus, taking advantage... Further >

    RECOMMENDED!

    Complete formation fees at a glance

    Company formation in Cyprus

    Complimentary consultation during the preparation phase

    Privacy Management Group in Cyprus has been employing specialists from Switzerland, Germany, France and other European countries for over ten years. Our in-house employees therefore know from their own extensive experience in which areas you will need active support. Based on the experience built over more than 30 years as lawyers, tax advisers and consultants as well as other specialised experience of our colleagues, the following service programme was developed for you.

    Already in the planning phase, you can rely on our experience and specialised knowledge and benefit from the following services:

    Free introductory consultation in our office, by telephone or Skype
    Free use of our Live Chat for any questions that arise in the planning phase
    Free initial consultation with our lawyers, tax advisers and in-house specialists

    Moreover, we are of course at your disposal for any questions in relation to education, real estate, life in Cyprus, the social system, etc...

    Our services

    Company formation in Сyprus

    Our law firm has been a member of the Cyprus Bar Association for over 30 years and our tax advisers are permanent in-house employees of Privacy Management Group. Privacy Management Group can therefore provide a complete and independent service without the need for agents. The formation costs of your company, Cyprus Limited or Cyprus Holding, amounts to a one-off and all-inclusive fee of EUR 2,650.00, exclusive of VAT.


    Company formation in Сyprus includes

    Complimentary legal and tax advice   Included in the formation fees
    Review of the company name against the Cyprus Commercial Register (EU)   Included in the formation fees
    Preparation of the statute and documentation of your Cyprus Limited or Cyprus Holding company    Included in the formation fees
    Preparation of the company contract and submission to the Cyprus Commercial Register   Included in the formation fees
    Payment of the formation fees at the registrar for the Cyprus Limited or Cyprus Holding company    Included in the formation fees
    Certification of the registration documents, incl. translation (English)   Included in the formation fees
    Service handbook incl. complete original documentation   Included in the formation fees
    Delivery at our offices or by courier   Included in the formation fees

    Bank Accounts

    Support with opening business accounts in Cyprus   Included in the formation fees
    Support with opening private accounts in Cyprus   Included in the formation fees
    Support with opening accounts in over 20 countries worldwide    Included in the formation fees

    Registered office, registered agent and trusteeship

    Provision of the registered office and registered agent for your Cyprus entity    Included in the formation fees
    Upon request, management of fiduciary services   Included in the formation fees

    Legal and tax advice

    Application for the tax number of private individuals and the company    Included in the formation fees
    Application for the Value Added Tax number (VAT)   Included in the formation fees
    Preparation of your company’s opening balance sheet   Included in the formation fees
    Continuous bookkeeping and income tax accounts   Included in the formation fees
    Issuing of employment contracts   Included in the formation fees
    Preparation of payroll accounting   Included in the formation fees
    Application for the necessary social security number(s)   Included in the formation fees
    Ongoing legal and tax advice for Cyprus   Included in the formation fees

    Operational services in Сyprus

    Facilitation to find suitable premises to represent your business   Included in the formation fees
    Review of rental offers and contracts through our in-house lawyers   Included in the formation fees
    Authentication of the rental contract after completion   Included in the formation fees
    Support with the application for your telephone and internet connections    Included in the formation fees
    Typically a simple office with 1 room costs approximately EUR 200.00   Included in the formation fees

    The company’s premises can be combined with your personal residence. The formation of your company in Cyprus will take approximately 10 working days. Your company will be tax liable after formation and accounts will be activated with your VAT and tax numbers. Subsequently, all legal and tax obligations will be fulfilled by our various departments in-house, through the following services.

    Total formation fees (one-off) EUR 2,650.00

    Tax advice incl. Bookkeeping, accounting and audit
    Annual fees for the complete package, due every 12 months

    All services provided by a single source! In our company we exclusively employ lawyers, tax advisers and accountants with years of experience and they are happy to help you or your company at any time. Our company of course has the in Cyprus required ICPAC certification. The annual fees, due every 12 months includes the following services:


    Tax advice incl. Bookkeeping, accounting and audit

    Tax advice for your company   Included in the formation fees
    Continuous support by email, telephone or in person at our offices   Included in the formation fees
    Ongoing payroll and reporting to the social services provider (Payroll)   Included in the formation fees
    Ongoing VAT reporting   Included in the formation fees
    Submission of the tax return to the respective finance department   Included in the formation fees
    Ongoing bookkeeping   Included in the formation fees
    Preparation of balance sheets at year end   Included in the formation fees
    Balance sheet review and consultation   Included in the formation fees
    Submission of the balance sheet to the auditor, including audit and certificate    Included in the formation fees
    Communication with the financial authorities in Cyprus   Included in the formation fees
    Auditing of tax assessments   Included in the formation fees
    Debrief meetings   Included in the formation fees
    Filing of appeals as well as representation, if needed   Included in the formation fees

    Administration and other services

    Fees for the necessary registered office in Cyprus   Included in the formation fees
    Fees for the necessary registered agent in Cyprus   Included in the formation fees
    Trusteeship fees (if requested), General Power of Attorney    Included in the formation fees
    Local support and advice   Included in the formation fees
    Summary of total fees
    Formation fees one-off EUR 2,650.00
    Administration fees for a full 12 months
    Please select the amount of book entries expected within the first 12 months:
    per 12 months EUR 1,750.00
    Total cost EUR 4,400.00*

    *exclusive of 19% VAT

    Settlement date for the formation and first annual fees

    The formation fee (one-off payment) of EUR 2,650 is due at contract stage while the first annual fee of EUR 3,850.00 is due after the registration of your company with the Commercial Register in Nicosia, Cyprus. All fees are exclusive of VAT, which in Cyprus is 19%.


    Settlement date of annual fees after the first 12 months following company start-up

    The annual fees will be due twelve months after formation of your company in Cyprus. These are inclusive of all services according to the package of your choice and amounts to EUR 3,850.00, exclusive of 19% VAT and are due every twelve months. Before due date you will automatically receive an invoice, sent by email.

    Advice: In principle, the VAT charges can be recovered in Cyprus by applying for a “VAT refund”.


    Annual Levy

    The yearly ‘Annual Levy’, applicable in Cyprus since 2011, affects every company in Cyprus and comes to a flat rate of EUR 350.00. The deadline for this fee is due every year on the 30th of June (not included in the package).

    Optional services: Non-Dom service

    OPTION: RESIDENCE AND NON-DOM STATUS

    Appropriate authorities for the Non-Dom status

    Approved by ICPAC Cyprus, we can now actively accompany you through the process of settlement in Cyprus and can therefore ensure your enjoyment of the enormous advantages of the Non-Dom programme. For the service provided within the ‘Residence and Non-Dom Status’ programme we charge a one-time fee of EUR 490.00 exclusive of VAT.

    Our support includes the following services:

    Preparation of the required documents and contracts for the authorities   Included in the Non-Dom Service
    Activation of your social security number (required upon registration!)   Included in the Non-Dom Service
    Support during the property search (rental or purchase)   Included in the Non-Dom Service
    Arrangement of appointments with local authorities   Included in the Non-Dom Service
    Personal accompaniment during the process of registering yourself and your family with the relevant authorities    Included in the Non-Dom Service
    Support during the application process for your personal tax number, including application for non-dom status    Included in the Non-Dom Service

    Please account approximately five working days for this complete procedure, including registration.

    Legal Notices

    Privacy Management GroupFZ-LLC regularly checks and updates the information on its websites. Despite all due diligence, it is possible that some facts have changed in the meantime. It is therefore not possible to assume liability or provide any guarantee as to the relevance, completeness or correctness of the information provided. The same applies for all other websites that are accessed through the hyperlinks provided. Privacy Management GroupFZ-LLC is not responsible for the content of websites that are accessed through these links. Furthermore, Privacy Management GroupFZ-LLC reserves the right to make changes or additions to the content provided. In addition to the content and structural copyright protection rights of Privacy Management GroupFZ-LLC websites, the reproduction of information or files, in particular the use of texts, extracts or images, is prohibited without the prior written consent of Privacy Management GroupFZ-LLC.

    None of the content on any of the Privacy Management GroupFZ-LLC web pages represents an individual recommendation nor is it to be understood as an invitation to trade, default or purchase. Privacy Management GroupFZ-LLC also explicitly points out that you should seek advice from experienced tax consultants and/or lawyers, in particular for any cross-border activities. In principle, any income generated domestically or internationally is subject to taxation. It is solely your responsibility to fulfil your domestic and/or international tax obligations appropriately. Privacy Management GroupFZ-LLC does not accept liability under any circumstance. Additionally, our General Terms & Conditions as well as our Data Protection Provisions and Legal Details apply.

    Asset Protection

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of Panama, it makes sense to have at least local managing directors/directors in Panama. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in Panama. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in Panama on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in Panama are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 740.00
    Registered agent annually USD 245.00
    Registered office annually USD 245.00
    Corporate franchise fees annually USD 300.00
    annually

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in the Seychelles. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in the Seychelles on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in the Seychelles are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 190.00
    Registered agent annually USD 210.00
    Registered office annually USD 210.00
    Corporate franchise fees annually USD 190.00
    annually

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of the Seychelles, it makes sense to have at least local managing directors/directors in the Seychelles. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of ‘location of decision-making power’. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides. .

    Should you intend not to take on the position of local manager/director, despite having an investor visa, we can provide you with the appropriate trustee-service that will manage this position for you – a nominee is a natural person residing in the UAE. Similarly, should you not wish to officially appear as a shareholder of your Freezone-company in RAK, even in this case we can satisfy your requirements through the use of an appropriate Nominee-company. Let’s talk about it, we are at your disposal!

    CFC-Management Packages

    The international CFC-Rules are of particular importance when a Panama company wants to, for example, send invoices to companies based abroad.

    Each country implements CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through ‘denied business expenses’ in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.

    CFC Management Packages

    The international CFC-Rules are of particular importance when a Seychelles company wants to, for example, send invoices to companies based abroad.

    Each country has implemented the CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through "denied business expenses" in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.