Cyprus
Cyprus: 3 company types, its taxes, banking and business environment.
Forming a company
Company types in Cyprus
The 3 forms a founder can choose here, each with its own figures. Open one for its sources.
Forming and closing a Ιδιωτική Εταιρεία Περιορισμένης Ευθύνης με μετοχές (private limited company by shares)
The headline facts; the steps, requirements and their sources are on its own page.
- Formation fee
- EUR 165
- Formed remotely
- Yes
- Closing route
- Voluntary strike-off (form HE60)
Doing business here
Business accounts
Providers whose own published list of countries names Cyprus. A listing means a company formed here may apply, not that it will be accepted.
AirwallexAirwallex business accountlist read 8 Oct 2026
PayseraPaysera business accountlist read 8 Oct 2026
- RevolutRevolut Business accountlist read 8 Oct 2026
StripeStripe account (payments)list read 8 Oct 2026
Checked, not listing Cyprus: Brex, bunq Business, Mercury, Qonto.
Publish no country list: N26 Business, Payoneer, PayPal Business, Wise Business. They may still serve it; ask them.
Payments and payroll
Services for taking payments, paying people and moving money, as each states where a business based in Cyprus may open an account.
- StripeOpen to a business based herelist read 18 Aug 2026
WiseOpen to a business based herelist read 18 Aug 2026
DeelOpen to a business based herelist read 18 Aug 2026- RevolutOpen to a business based herelist read 18 Aug 2026
AdyenOpen to a business based herelist read 18 Aug 2026
For individuals only here: PayPal.
Not available here: Square.
EU listings
Two lists a bank checks when it opens an account for a company or its owner.
- EU high-risk third countries (AML)
- Not listed
- EU non-cooperative jurisdictions for tax purposes
- Not listedOfficial EUR-Lex, 52026XG01465, Annex I as of 2026-02-17
Official sites
The authorities’ own sites for Cyprus: where to register, file and check.
Business registerΤμήμα Έφορου Εταιρειών και Διανοητικής Ιδιοκτησίας (Department of Registrar of Companies and Intellectual Property)companies.gov.cy
- Tax authorityΤμήμα Φορολογίας (Tax Department), Ministry of Finance of Cyprusgov.cy
Tax treaties in forcemof.gov.cymof.gov.cy
Blocs and agreements
The trade arrangements Cyprus belongs to, as each arrangement’s own texts state them: since when, and what each covers. What a membership means for a business is for you to judge.
- European Union: internal market and customs union
- Single market · since 2004
Covers goods, services, establishment, capital, movement of people, a common external tariff.
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EU Member State since 2004, Euro area member since 2008, and more about Cyprus’s participation in the EU.
- European Union: VAT territory
- Inside it
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‘Community’ and ‘territory of the Community’ mean the territories of the Member States as defined in point (2);
- Euro area
- Monetary union · since 2008
Covers a common currency.
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EU Member State since 2004, Euro area member since 2008, and more about Cyprus’s participation in the EU.
- European Economic Area
- Single market
Covers goods, movement of people, services, establishment, capital.
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which now covers the EU and its 27 Member States, and three of the four EFTA members: Norway, Iceland and Liechtenstein.
- Schengen area
- Acceding
The Commission says Cyprus participates in the Schengen cooperation but internal border controls have not yet been abolished by the Council.
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Cyprus participates in the Schengen cooperation. Nevertheless, internal borders controls have not yet been abolished by the Council.
Regional and customs arrangements only, 36 of them; bilateral trade agreements are not yet in our records.
Tax
Company tax
Tax, and what the company owes the registry each year.
- Corporate income tax
- 15% (from 12.5%)Official Government of Cyprus (Ministry of Finance tax reform site) tax reform applying from 2026
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Εταιρικός φόρος από 12,5% σε 15%
- Distributions
- Profit taxed when earned; further special contribution on dividends receivedOfficial Cyprus Bar Association (CyLaw) — consolidated text of the Special Contribution for the Defence of the Republic Law 117(I)/2002 as amended up to 245(I)/2025
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τα πιο κάτω πρόσωπα καταβάλλουν έκτακτη εισφορά στο ποσό των μερισμάτων που λαμβάνουν
- Audit
- Audit mandatory for every private company; review allowed up to EUR 300,000 turnover and EUR 500,000 balance sheetOfficial Cyprus Bar Association (CyLaw) — consolidated text of the Companies Law, Cap. 113 as amended up to 162(I)/2025
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(iii) κάθε ιδιωτική εταιρεία περιορισμένης ευθύνης
- Small-company relief
- Not in our records
- Annual obligations
- Annual report once per calendar year; audited financial statements (Art. 152Α)Official Cyprus Bar Association (CyLaw) — consolidated text of the Companies Law, Cap. 113 as amended up to 162(I)/2025
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Κάθε εταιρεία που έχει μετοχικό κεφάλαιο, καταρτίζει μόνο μία φορά ανά ημερολογιακό έτος έκθεση
- Annual registry fee
- NoneOfficial Cyprus Bar Association (CyLaw) — consolidated text of the Companies Law, Cap. 113 as amended up to 162(I)/2025 · none levied
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Επιβολή τέλους. 391. [Διαγράφηκε]
VAT
The tax on what the company sells in Cyprus, and when it must register, as the tax authority states it.
- Standard rate
- 19%Official European Commission, Taxes in Europe Database situation on 2026-01-01
- Other rates
- 9% Passenger transport by urban, interurban and rural taxi and by tourist and interurban buses, restaurant and catering services, hotel and similar tourist accommodation, and goods and services supplied by care homes
- 5% Coffins, fertilisers, insecticides, animal feed and seeds, live animals for food production, water, food and drink other than alcoholic drinks, beer, wine and soft drinks, bottled gas, medicines and vaccines, contraceptives, medical equipment for disabled persons, and child car seats
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Μειωμένος συντελεστής (9%) Μεταφορά επιβατών με αστικά, υπεραστικά και αγροτικά ταξί καθώς και τουριστικά και υπεραστικά λεωφορεία Υπηρεσιες εστιατορίου και εστίασης Διαμονή σε ξενοδοχεία, τουριστικά καταλύματα και παρόμοιους χώρους
- Registration threshold
- EUR 15,600
taxable transactions at the standard, reduced or zero rate; capital assets are excluded; one-year period ending at the end of any month, or the next 30 days
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Στο τέλος οποιουδήποτε μήνα, αν το πρόσωπο είναι εγκατεστημένο στην Κυπριακή Δημοκρατία και η αξία των φορολογητέων συναλλαγών του κατά την περίοδο ενός έτους που τελειώνει σε αυτό το χρονικό σημείο έχει υπερβεί τις €15.600.
- Voluntary registration
- Yes
A trader whose taxable supplies are below the registration limits may apply to register, and a person intending to make taxable transactions may register as an intending trader.
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Αν ένας επιχειρηματίας πραγματοποιεί φορολογητέες παραδόσεις αγαθών ή / και παροχές υπηρεσιών, η αξία των οποίων δεν υπερβαίνει τα όρια εγγραφής, δικαιούται να υποβάλει αίτηση για εγγραφή στο Μητρώο Φ.Π.Α.
- A foreign company
- Registers from its first taxable supply
The €15,600 turnover test is framed for a person established in Cyprus; a person making taxable transactions there must register, and the threshold is not applied to a business established abroad, which registers from its first taxable transaction. The Tax Department's registration guidance and FAQ read name no representative requirement, so that answer is left unrecorded.
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Στο τέλος οποιουδήποτε μήνα, αν το πρόσωπο είναι εγκατεστημένο στην Κυπριακή Δημοκρατία και η αξία των φορολογητέων συναλλαγών του κατά την περίοδο ενός έτους που τελειώνει σε αυτό το χρονικό σημείο έχει υπερβεί τις €15.600.
- Returns filed
- Quarterly
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Οι Δηλώσεις ΦΠΑ αφορούν συνήθως τριμηνιαίες φορολογικές περιόδους, όπως αυτές καθορίζονται, κατά την εγγραφή στο Μητρώο ΦΠΑ, με βάση τoν Κώδικα Επιχειρηματικής Δραστηριότητας (NACE) της επιχείρησης.
- Tax authority
- Registration page read 2026-10-22
Tax calendar
When the main returns and payments fall due in Cyprus, tax year 2025, as the tax authority states it.
- Corporate tax return
- 15 months after the end of the accounting period · each year
the company income tax return is submitted 15 months after the end of the reference year - 31 March of the following year for a calendar-year company. For tax year 2024 the calendar shows 31 March 2026, extended to 30 November 2026 for companies that must prepare financial statements.
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2026-03-31 Προθεσμία υποβολής Δήλωσης Εισοδήματος Εταιρείας (ΤΦ4) και Ατόμου με λογαριασμούς (ΤΦ1Λογ) για το έτος 2024
- Corporate tax, final payment
- 1 August · each year
the self-assessment of corporate income tax is submitted and the final tax paid by 1 August after the reference year (1 August 2026 for the 2025 tax year), on a self-assessment basis.
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2026-08-01 Προθεσμία υποβολής Αυτοφορολογίας Φόρου Εισοδήματος Εταιρικού Φόρου για το έτος 2025
- Corporate tax, instalments
- 31 July · twice a year
the provisional tax calculation is submitted and the tax paid in two equal instalments, by the end of July and by the end of December of the current tax year (the rule records the first instalment; the second falls on 31 December of the same year).
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2026-07-31 Υποβολή υπολογισμού προσωρινής φορολογίας και πληρωμή της πρώτης (από δύο) δόσεις προσωρινού φόρου για Νομικά Πρόσωπα
- Personal income-tax return
- 31 July · each year
the annual income tax return of an individual other than the self-employed is submitted by the end of July after the reference year (31 July 2026 for 2025), extended by the calendar shown to 31 October 2026. A self-employed person who must prepare audited accounts files 15 months after the end of the reference year.
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2026-07-31 Προθεσμία υποβολής Ετήσιας Δήλωσης Εισοδήματος Ατόμου (εκτός αυτοεργοδοτούμενου) 2025
- Personal income tax, final payment
- 31 July · each year
the tax that falls due on the annual return is paid by the same date as the return; the Tax Department treats the submission date of the return and the payment of the tax due as one deadline (its 2025 announcement extended both to 30 September 2025 by decree).
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η ημερομηνία εμπρόθεσμης υποβολής της Δήλωσης Εισοδήματος Ατόμου χωρίς λογαριασμούς για το φορολογικό έτος 2024 και καταβολής του οφειλόμενου φόρου
- Personal income tax, instalments
- 31 July · twice a year
the provisional tax on the estimated profit is paid in two equal instalments by the end of July and the end of December of the current tax year (the rule records the first instalment). Salaried employees whose only income is employment income have no advance payment: the employer withholds under payroll_withholding.
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2026-07-31 Υποβολή υπολογισμού προσωρινής φορολογίας και πληρωμή της πρώτης (από δύο) δόσεις προσωρινού φόρου για Νομικά Πρόσωπα και Φυσικά πρόσωπα που υποβάλλουν εξελεγμένους λογαριασμούς ή είναι μισθωτοί με εισοδήματα και από άλλες πηγές για το 2025
- VAT return
- Day 10 of the following month · each quarter
the VAT return and the tax due are submitted by the 10th day of the second month following the end of the tax period (10 October 2026 for the June-August 2026 quarter). The Tax Department's deadline calendar lists quarterly periods; a monthly period is notified on the registration certificate for the persons to whom it applies.
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submit a VAT declaration via TAXISnet by filling in Form T.D. 1004 and pay the tax due by the 10th day of the second month following the end date of their tax declaration
- Payroll withholding
- 1 month after the end of the month · each month
the monthly employer declaration and the payment of the tax withheld are due by the end of the month following the month in which the tax was withheld (31 March 2026 for February 2026).
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2026-03-31 Προθεσμία Υποβολής Δήλωσης PAYE για τον Φεβρουάριο 2026
Running the company
Running a company here
What it takes to keep a company in good standing in Cyprus: the full guide is on each form’s own page.
Running a Ιδιωτική Εταιρεία Περιορισμένης Ευθύνης με μετοχές (private limited company by shares)
23 obligations for one shareholder who is the sole director, with who may do each, when, and how.
- The director can do
- 22 of its 23 obligations
personally, through the authorities’ own services.
- A professional the law requires
- A licensed auditor Have the annual financial statements audited by a licensed auditor
- Not required here
- Identity verification of directors with the Registrar · Mandatory workplace pension or provident scheme · Registration or periodic fee with the data protection authority · Annual company levy of EUR 350 (repealed from 2024) (abolished)
Not yet covered: Δημόσια Εταιρεία Περιορισμένης Ευθύνης με μετοχές (public limited company by shares), Αυτοτελώς εργαζόμενος (self-employed person / sole trader). Each form has its own requirements.
Economy and trade
What it exports
Goods Cyprus exported, by product, as a share of its goods exports each year. Exports include goods passing through for re-export. A share describes Cyprus’s own trade; it does not compare places.
| Product (HS heading) | 2022 | 2023 | 2024 | Value, 2024 |
|---|---|---|---|---|
| Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils HS 2710 | 10.6% | 24.2% | 23.8% | US$1.3 bn |
| Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods HS 8901 | 26.5% | 22.7% | 10.7% | US$583 m |
| Medicaments (excluding goods of heading 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale HS 3004 | 8.8% | 8.6% | 9.7% | US$530 m |
| Cheese and curd HS 0406 | 7.3% | 7.1% | 7.8% | US$423 m |
| Yachts and other vessels for pleasure or sports; rowing boats and canoes HS 8903 | 1.1% | 0.33% | 4.9% | US$267 m |
| Mixtures of odoriferous substances and mixtures (including alcoholic solutions) with a basis of one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for the manufacture of beverages HS 3302 | 2.2% | 2.2% | 2.4% | US$130 m |
| Telephone sets, including smartphones and other telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, including apparatus for communication in a wired or wireless network (such as a local or wide area network), other than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528 HS 8517 | 1.6% | 1.6% | 2.0% | US$107 m |
| Other aircraft (for example, helicopters, aeroplanes), except unmanned aircraft of heading 8806; spacecraft (including satellites) and suborbital and spacecraft launch vehicles HS 8802 | 1.1% | 0.36% | 1.6% | US$87 m |
| Fruit or nut juices (including grape must and coconut water) and vegetable juices, unfermented and not containing added spirit, whether or not containing added sugar or other sweetening matter HS 2009 | 0.86% | 1.1% | 1.4% | US$78 m |
| Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 0304 HS 0302 | 0.72% | 0.47% | 1.1% | US$60 m |
Total goods exports, 2024: US$5.4 bn. The ten largest headings are shown.