Open A Branch In Cyprus

Introduction to setting up a branch in Cyprus

In Cyprus the process of establishing a branch corresponds with the Cyprus Company Act which regulates such procedures. Cyprus is concerned about its progress as an international business hub and as a result administrative procedures have been simplified, making setting up a Cyprus branch easier.

 

What are the formalities regarding Cyprus branches?

  • A certified copy of the overseas corporation charter
  • Memorandum and Articles of Association of the parent company
  • A copy of the parent company’s Certificate of Good Standing
  • The details of directors and secretary of the parent company
  • The name and address of a Cyprus branch representative authorised to accept service of notices to the branch
  • A registered Cyprus office address

These documents must be submitted to the national Registrar of Companies within one month of the branch being set up, in order for the branch to be registered.

All documents are required to be notarised, apostilled and translated into Greek by an official translator.

What are the accounting requirements for a Cyprus Branch?

A Cyprus branch is required to annually file VAT and tax accounts with the Cyprus Tax Department. No audit is required.

Taxation for Cyprus branches whose management and control is in Cyprus is the same as international business companies i.e. 10% on the net profit. If the management and control of the branch is outside of Cyprus, all profits from the branch are exempt from tax.

International business branches are granted the same advantages as international business companies, i.e. low corporate tax rates, no capital gains tax, no withholding tax.

If you need further information on accountancy and tax rates in Cyprus please visit our partners Accountancy In Europe.

 

What office facilities are available when registering a branch?

There are two main types of office available in Cyprus:

  • Virtual offices provide off-site communication. Virtual offices in Cyprus include a central location in Nicosia, telephone, fax and mail forwarding facilities
  • Serviced offices include all necessary business services and are ready for immediate occupation

Branch formation packages

We will handle every aspect of the branch formation for you. Using our expert knowledge we can offer a branch formation package in which we take care of branch registration, issue of the certificates of registration, local directors, local representative and place of business in Cyprus, tax registration, VAT registration, and translation of documents into Greek.

Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple branches. The benefits for establishing multiple branches include further increased exposure and global presence, and we can organise everything for you.

 

For further information please send an enquiry or contact us using the form below.

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The information and any commentary on the law contained on this website is provided for information and guidance purposes only. Every reasonable effort is made to make the information and commentary accurate and up to date, but no responsibility for its accuracy and correctness, or for any consequences of relying upon it is assumed by Open A European Company, its directors , employees or associated websites.

The information and commentary on Open A European Company’s site does not, and is not intended to amount to legal advice to any third party on a specific case or matter. You are strongly recommended to obtain specific, direct legal advice from professional advisers whether these be your own advisers or those that appear on the OpenAeuropeancompany.com site. You should consider taking advice both in the country in which you are domiciled and in the country in which you are seeking to open a company. and not to rely on the information or comments on this site.

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