Cyprus Resident Companies

from Maritime International Ltd.

Cyprus resident companies are low-tax companies, but with the prestige and advantage of being incorporated in the European Union.
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With a population of less than 900,000, Cyprus is a beautiful island in the Mediterranean Sea. The official languages are Greek, Turkish and English. English is widely used in commerce, industry and government.

Cyprus joined the European Union in 2004, but it still enjoys the unique advantage of being able to structure a low tax company and reduce other taxes through the use of its numerous Double Taxation Agreements.

Cyprus has a long history as an International Financial Center. For many years, Cyprus incorporated offshore IBC’s similar to those provided by other traditional centers, such as BVI.

On accession to the European Union in 2004, the Cyprus business model changed but it still enjoys some very important advantages, which we believe, will be of great interest to Maritime International Ltd’s clients. In fact, one might say that the new version of the Cyprus company model is, in many ways, better than the old one.



The Amendment provides for an 80% deduction from profits arising from royalty rights of from capital gains, on their disposal, making the maximum effective tax rate 2%.

This is a major change which establishes Cyprus as a very attractive jurisdiction for holding Intellectual Property.

Cyprus is a member of the EU and provides the unique advantage of offering a low tax (10%) jurisdiction with a Registered Office/Address in the EU. If desired, a Cyprus Virtual Office can also be arranged with phone, fax and mail forwarding.

As a Resident Cyprus Company it can take advantage of the over 40 Cyprus Double Taxation Agreements, with consequential tax savings.

For example, the Double Taxation Agreement with the US can be used to significantly reduce the witholding tax on dividends for foreigners trading on US stock exchanges.

To be resident, the company must be managed and controlled from Cyprus. This means that the Director and Corporate Sectretary MUST be resident in Cyprus (provided by Maritime International Ltd.).

Incorporation documents are in Greek, with a Certified English translation. Financial accounts must be kept, audited and provided to the Government. The accounts are not in the Public record.

An Annual General Meeting is required. This can be held anywhere in the world and can be by telephone or other electronic means.

Bearer shares are not permitted.

Share capital may be specified in Cyprus Pounds, Euros, US dollars or British Pounds.

Unlike other jurisdictions, Cyprus companies may not enter into pre-incorporation agreements.

Details on Directors and Shareholders must be provided to the Registrar of companies and this information is open to the Public. Privacy can be obtained by appointing nominee Shareholders, available from Maritime International Ltd. If nominees are used, the name of the Beneficial Owner is not required to be provided to the Government, except in the case of an authorized criminal investigation.


Location of Jurisdiction Cyprus - Mediterranean
Official Language Greek, English and Turkish; English is widely used in Commerce
Currency Euro
Political Stability Excellent
EU Savings Tax Directive Applies Yes, Cyprus is a member of the EU.
Annual Fixed Duty Payable - Read More
Corporate Taxes 10%. Lowest in the EU.
Disclosure of Beneficial Owner Yes, but nominees many be used – Read More
Requirement to File Audited Accounts with Government Yes
Time to Incorporate 4 to 8 days, subject to name approval - Read More

Type of Offshore Company Cyprus Private Limited Liability Company (Resident)
Type of Law Civil
Allowed Business Activities Banking and insurance and others require licenses - Read More
Registered Office/Agent Required by Law - Read More
Change of Domicile Now allowed. Law changed July 28, 2006
Shelf Companies Available See Listings
Language of Documents Greek, with certified English translation
Name of Company Can be in any language using the Latin alphabet.
Corporate Seal Optional

Eligibility Must be a Resident of Cyprus (Provided by Maritime International Ltd.)
Minimum Number of Directors One. May be a person or company.
Disclosure to Authorities Yes, but a Resident Nominee is required anyway.
Residence Required Must be resident in Cyprus
Location of Meetings Anywhere

Secretary Required Yes. Must be a Resident of Cyprus (Provided by Maritime International Ltd.)

Minimum Number of Shareholders One
Maximum Number of Shareholders 50
Eligibility Any person or company of any nationality.
Disclosure to Government Authorities & Public Yes, but nominees may be used - Read More
Nominee Shareholders Available Yes. Provided by Maritime International Ltd - Read More
Annual General Meeting Required - Read More
Location of Meetings Anywhere

Minimum Number of Shares One
Maximum Number of Shares Unlimited
Bearer Shares Permitted No
Classes of Shares Permitted Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Permitted Currencies Cyprus Pounds, Euros, US dollars, British Pounds
Minimum Paid Up Share Capital One share of par value
Maximum Share Capital Unlimited, but additional government stamp duties apply for share capital over Cyprus Pounds 1,000
Recommended Share Capital Cyprus Pounds 1,000 (1000 shares @ CYP 1.00 each) or Euros 1000 or US $1000 or GBP 1000
Requirement to be Paid Up Yes, but can be carried on the books - Read More

Keep Accounts/Company Books Yes
Audited Accounts Required Yes, but not available to the public
File Audited Annual Return with Government No
Bank Account Location Anywhere - Read More
Brokerage Account Read More
Exchange Controls None



Nominee Directors & Shareholders, Accounting and Audit Services, Virtual and Physical Offices, Corporate Identity Package, Mailing Address, Basic Account Maintenance, Invoicing Services, Beneficiary Bequest, Employee Contracts, Document Safekeeping and general Corporate services. More details are available on our Management Services page.


The names of the Directors, Secretary and Shareholders are required to be filed with the Government Registrar of Companies and they are also available in the public record.

Privacy can be provided through the use of nominee Shareholders. Nominee Resident Director and Secretary are required anyway. The names of the nominees will appear in the Government and public records. The names of the Beneficial Owners are not disclosed to the Government or to other parties, unless it is in respect to an authorized criminal investigation


The Registrar reserves the right to reject any name that is deemed undesirable. Generally, names that imply that the company is engaged in handling banking, insurance, investment or trust business will be rejected, as well as names that are similar or the same as existing companies.


Limited, Ltd only.

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