Professional service fees in Cyprus
Below is an itemised indication of fees associated with professional services offered via Investment Gateway and associates, also representative of general market based prices in Cyprus. Generally, costs for registering a company in Cyprus (or other jurisdiction for that matter), together with any subsequent professional services are all too often presented in a somewhat complex manner or not so obvious from the advertised "bait" price. In truth, there are many variable involved. Exact fees always depend on what professional services are required, volume of business, and of course which associates is eventually selected. Of course, exact quotation with all related charges are always determined and agreed in advance with the client.
Thus, the only way to receive the most accurate and final indication of price is to speak directly with a professional services supplier, and then obtain a quote. No doubt, all will be more than happy to customise your quotation and advise you accordingly. Contact Investment Gateway to receive a number of complete customised enquiries from various associates. Then choose which suits best for your needs.
An estimation of costs are presented below. These have been obtained by benchmarking various suppliers in the market. Generally, initial costs for registering a new Cyprus company formation, including standard or essential requirements associated with it, amounts to approximately:- Company formation: 1,400 - 2,000 euro, and then around 400-600 euro annually thereafter, plus whatever company administration and maintenance, substance, auditing/accounting/legal services are required.
- General company administration and maintenance work: 50 - 150 euro per hour
- More complex accounting, tax and legal work: 180-250 euro per hour for
Meanwhile, time spent on work is usually charged at approximately:
Professional service | Payment time-frame | Aprox amount in euro |
Registering a Cyprus International Business Company (Onshore/Offshore). Includes: - Registration of Cyprus Company, with application to the Cyprus company registrar for name preference - Printing and providing company's Memorandum and Articles of Association in Greek and true translation in English. - Issuing certificate of incorporation - Certificates of company directors, secretary, certificate and shareholders - Certificate of registered office address - Round rubber company stamp This initial company registration also includes preparation and completion of all necessary compliance in incorporation, namely minutes for the appointment of directors, secretary and shareholders. |
One time upon registration | 1,400 - 2,000 |
Company tax registration number | 250 | |
VAT registration (Cyprus and European Union) | 250 | |
Additional fees for ready-made Cypriot shelf companies | 500 | |
International Bank Account for the company (choice of currency), including internet banking platform, passbook accounts, ATM and Visa cards | 300 - 500 | |
Company and personal bank account in Cyprus (choice of currency) – usually for company owner – including internet banking platform, passbook accounts, ATM and Visa cards | 300 - 500 | |
Nominee company director, shareholders and/or secretary, including preparation and completion of all trust deeds and required documentation for nominee services | Annual fee | 200 - 300 for each main nominee service |
Registered Cyprus office address | Annual fee | 150 - 250 |
Certificate of Cyprus tax residence | One-off | 175 |
Other professional services: - Banking services, such as monitoring and administration of bank accounts, issuing transfer orders to the bank upon authorisation, signatory services, updates, local representation, etc. - Preparation of apostilled power of attorney - Apostilled documents and certificates - Documents certification as true copies (if required) - Translation services - Secretarial services, including mail forwarding, courier services, and dire/shared telephone line, messaging service and call forwarding, among other |
As per required | 100 - 300 euro Based on time spent, as well as any stamp duty, expenses and VAT |
Professional service | Payment time-frame | Aprox amount in euro |
Audited financial services Company taxation returns Administration and other accounting services |
Annual fee | 400 - 800 (basic) |
Audited accounts and tax returns must be filed annually with the Cyprus Registrar of Companies and Cyprus Income Tax Authorities. These must be conducted by a certified practitioner in Cyprus. Fees for these services are always in accordance with the volume of business transactions of the company and their complexity, therefore the amount of work that the accounting practitioner must undertake. Fees also include completion and submission of any required documents to the Inland Revenue Department of Cyprus and the Companies Registrar. Of course all fees will be pre-qualified as accurately as possible at the time of incorporating the company or requesting the service, however they are also always subject to fluctuations as per the company's deviation form the pre-thought volume of transactions. |
Professional service | Payment time-frame | Aprox amount in euro |
Website design and development, including concept design structure, online corporate profiles, web programming and functionalities, full content copywriting, as well as Search Engine Optimisation (SEO) and Internet marketing. Websites come in three levels: - Basic - Combined - Customer Complete Websites include upload and maintenance, as well as any minor updates/adjustments. Any required upgrades and significant updates are chargeable as per the amount of work needed and complexity. |
As per required | 300 – 600 600 – 1,200 Base 1,300 euro then based on hours spent and web project complexity |
Website domain names – name chosen and purchased by company (as per availability). Available domains include .com, .org, .net, .biz, .info, .ws and .cy | Annual | Approx. 8 euro (9.95 USD) |
Website hosting, including uploading, on-going maintenance, unlimited e-mail accounts, 1 GIG total web space. | Every 2 years | 220 |
Remember, Investment Gateway does not charge applicants any extra fees for introducing them to agents in Cyprus. It is Investment Gateway's affiliation to these agents that compensates this service, which is also at no extra cost in the agent's final quotation to the client – otherwise we do not work with them.
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