Belifor can, promptly, set up your own Cyprus Limited Liability Company to the British Limited-type companies standards. Limited companies are separate legal entities that restrict the ownership of their owners to the amount of their investment, and never carry any other liability, provided that the owners are not also their company’s directors.

The company formation process starts with the application of the name for approval within 3 working days and the registration is completed in maximum eight (8) working days.

The law also permits the movement of the operating headquarters to or from Cyprus. The regulations are in line with the attraction of foreign investments, which constitute a basic policy of the Republic of Cyprus in order to give the opportunity to investors, entrepreneurs and international companies to become Cyprus tax residents and benefit from the attractive local tax regime.

Find below the relevant information about the documentation, the characteristics, the procedure and time needed to form a Cyprus company.

A Cypriot company, known as the “Limited Liability Company” (Limited), has the characteristics of a UK “Limited Liability Company” and can be compared with a Greek limited liability company (SA).

Since 1st of May 2004 Cyprus has become a part of the European Union, therefore the Cypriot companies are not considered offshore.

The basic characteristics of Cyprus Companies can be described as below.

  • Memorandum and articles of Association: Cypriot companies must possess a memorandum and article of association that will determine the activities of the company and how the establishment will regulate its internal affairs.
  • Shares Capital: There is no legal regulation restriction on the minimum or maximum share capital of the company.
  • Shareholders: In accordance with Cyprus law, limited liability companies must have at least one shareholder. If you wish to preserve the anonymity of shareholders, the shares may be held by a company which acts as a trustee of the shares of the owners, without revealing their real identity. The confidentiality of such information is kept and a decision by Cyprus court is required before disclosure.

Board of Directors

Although the appointment of local board members is not required by law, however, for tax purposes, it is considered desirable. It should be noted that, from a tax point of view, is essential that the company is managed and controlled in Cyprus, which is why it is recommended that the majority of directors are local residents.


According to the current Cyprus law, the company must have a secretary.

Registered address

It is required by law that the company has a registered office in Cyprus, which will be used as the commercial address of the company for conducting their operations.

Time needed and company formation procedure

The registration procedure is completed within 7-8 working days in order to begin operating immediately assuring you will have a fair tax treatment on your profits without any delays or time wasting complications.

Company name

First we will have to apply for a company name. The procedure is fairly easy and fast as the name is approved within 3 working days. We usually apply for 2 or 3 name variations so we have more chances to be approved from the Company Registrar department.

After company name approval we apply to the Cyprus Registrar department with all the relevant documentation and paperwork.

The examination of the application takes 4-5 working days and usually completes in 7 or 8 working days, with the issuing of all the approved documentation including the Company Memorandum and articles of association.

Documentation needed

Certified copy of passport or ID

Certified copy or Original Utility bill as a proof of address

Reference from a bank institution, lawyer or accountant for the good standing of the ultimate beneficial owners

Questionnaire completed from the client with 2 or 3 company name alternatives

Day 1

  • Application to Registrar of Companies for company name approval

Day 3

  • Company Name approval
  • Completion of memorandum and hand to Registrar of Companies for approval

Day 7 or 8

  • Issue of formation documentation:
  • Certificate of Registration
  • Certificate of board of directors and secretary
  • Certificate of shareholders
  • Certificate of office address
  • Ratification of the company Memorandum and Articles of Association

Application for Registration:

  • To tax department for Tax ID
  • Application for bank account opening

Day 20-30

  • Bank account opening

After the completion of the tax plan according to your needs from our advisors, the below paperwork is essential for a bank account opening (but also for the Company Formation procedure).

  • Certified copy or original Passport or ID
  • Certified copy or Original utility bill for permanent address confirmation
  • Reference letter from a bank institution or a lawyer or a certified public accountant. Our firm will provide to you an appropriate template of a reference letter. Reference letters are issued by bank institutions and law advisors that you work with in order to validate you as a person of trust.