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 >
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.
