Opening a limited company in Cyprus can be a game-changer for entrepreneurs, especially non-EU residents looking to establish a business efficiently. This guide walks you through every step, from company registration to opening a business bank account, and even navigating residency and work visa requirements. Many newcomers struggle to understand the legal and financial requirements, which can delay business operations. By following this guide, you’ll have a clear roadmap, practical tips, and resources to streamline the process and avoid common pitfalls. Whether you’ve already secured premises or are just planning your business, this guide is tailored to provide actionable steps and expert advice for a smooth start in Cyprus.
A limited company is the most common structure for businesses in Cyprus due to liability protection and tax advantages.
It requires at least one shareholder and one director, who can be the same person. The company must also have a registered office in Cyprus.
Key benefits include limited liability, easier access to financing, credibility with clients and partners, and eligibility for certain tax planning strategies such as Non-Dom status for qualifying residents.
Registering your limited company starts with choosing a unique name and submitting it to the Cyprus Registrar of Companies.
Next, prepare and submit the Memorandum and Articles of Association, along with identification documents of shareholders and directors.
Once approved, you will receive the Certificate of Incorporation, your official registration number, and a company seal if needed.
Tip: Hiring a local corporate service provider can speed up the process significantly and ensure compliance with all updated 2026 requirements.
With your company registered, the next step is opening a business bank account.
Most banks in Cyprus, including Bank of Cyprus, require company documents, identification of directors, proof of address, and sometimes a business plan.
Having pre-existing personal bank accounts can simplify verification.
Tip: Compare banks on fees, online banking quality, multi-currency support, and experience with Non-EU clients to ensure smooth account operation.
Non-EU residents need to apply for the appropriate residency or work visa to legally operate a business in Cyprus.
Common options include the Category F visa (temporary residency) or the Category D visa (long-term stay for business owners).
Requirements typically include proof of company ownership, financial stability, health insurance, and, for tax planning purposes, adherence to the 60-Day Rule to qualify as a tax resident if desired.
Tip: Consult a local immigration expert to ensure all documents meet current 2026 legal standards and residency conditions.
Consider accounting, tax registration, VAT (if applicable), and licensing specific to your business sector.
Hiring a local accountant ensures compliance with Cyprus corporate law, VAT rules, and helps maintain eligibility for Non-Dom benefits if applicable.
Also, evaluate your office location, leasing contracts, and utilities early to avoid operational delays.
1. Plan your timeline carefully; some steps take longer for non-EU residents.
2. Keep all company and personal documents organized.
3. Use local professionals for legal, banking, and tax guidance, especially regarding residency and Non-Dom tax benefits.
4. Leverage online tools and templates for registration and compliance.
5. Track your days in Cyprus if planning to qualify for the 60-Day Rule or other residency-based tax advantages.
Q: How long does it take to set up a limited company in Cyprus?
A: The company registration usually takes 1–3 weeks, depending on document readiness and the speed of the Registrar of Companies. Hiring a corporate service provider can shorten this timeline.
Q: Can non-EU residents own a company in Cyprus?
A: Yes, non-EU residents can fully own and operate a limited company in Cyprus, but they must also apply for the appropriate residency or work visa.
Q: Do I need a local director to register a company?
A: No, a non-resident can serve as director, but a registered office address in Cyprus is mandatory.
Q: What documents are required to open a business bank account?
A: You typically need your Certificate of Incorporation, Memorandum and Articles of Association, identification for directors, proof of address, and sometimes a business plan.
Q: Are there tax benefits for Cyprus companies?
A: Yes, Cyprus offers low corporate tax rates, access to EU tax treaties, and VAT exemptions in certain cases. Proper accounting ensures full compliance and maximizes benefits.