Company Registration in Cyprus for Russian Citizens

Cyprus remains one of the most convenient jurisdictions for Russian entrepreneurs seeking a stable legal system and access to the European market. Transparent regulations, moderate taxation, and a common-law framework make business registration predictable and secure. To avoid mistakes, it is essential to understand local requirements and work with a specialist. A professional lawyer can help Russian citizens choose the optimal company structure, prepare documents, and register the business while considering goals and tax implications.

Company Forms and Registration Features

Cypriot corporate law is modeled on the British system and offers several legal forms. In practice, most foreign entrepreneurs register a Private Limited Company (LTD)—similar to a limited liability company. This structure is suitable for trading, IT, consulting, financial and investment projects, as well as holding and service companies.

Key advantage: limited liability. Shareholders are not personally liable for business obligations—their responsibility is limited to their capital contribution. There is no minimum legal capital requirement, but to demonstrate business reality and transparency, it is recommended to deposit at least €1,000.

The registration process includes:

1. Approval and reservation of the company name with the Registrar of Companies (handled by your lawyer).
2. Preparation of the Memorandum and Articles of Association, defining company objectives and structure (handled by your lawyer).
3. Appointment of a director and secretary (at least one must be a Cyprus resident if a favorable tax regime is planned).
4. Registration of the company’s legal address.
5. Submission of all documents to the Registrar.
6. Issuance of the full incorporation package — Certificate of Incorporation (in Greek and English), and certificates for directors, secretary, shareholders, and registered office.

Company registration in Cyprus typically takes 7–10 business days. Afterward, a corporate bank account can be opened, a Tax Identification Code (TIC) obtained, and VAT registration completed if necessary.

Taxes and Entrepreneurial Benefits

Cyprus is attractive to business owners due to low taxation and no dividend tax for non-residents. Main rates:

• Corporate tax — 12.5%;
• VAT — 19%, with potential refunds for exported services;
• No capital gains tax on the sale of shares in foreign companies.

For Russian citizens, Cyprus has double taxation agreements, preventing duplicate tax payments on transferred profits.

A lawyer helps determine the company’s tax status, choose the optimal ownership structure, and register the business considering future operations. As a result, the entrepreneur receives a transparent scheme and a reliable foundation for international activity.

Legal Support and Business Services

Registration is only the first step. To operate a company effectively in Cyprus, it is essential to comply with corporate and tax regulations. The most in-demand business services include accounting, preparation of annual reports, license renewals, and updates to company records.

Legal support is especially important when opening a bank account, as Cypriot banks carefully verify the sources of funds and ownership structure. A professional lawyer ensures that documents are properly prepared, explains AML/KYC compliance requirements, and helps complete the process without delays.

A comprehensive approach to registration and ongoing business support provides the entrepreneur with confidence that all actions are fully compliant with Cypriot law and regulator requirements.