One time
| Item | Cost |
|---|---|
| Formation with Orisma, incl. Registrar fees and 12 months of office and secretary | EUR 1,390 excl. VAT |
| Express Registrar processing (optional) | EUR 290 excl. VAT |
| VAT registration (optional) | EUR 290 excl. VAT |
| Apostilled document pack (optional) | EUR 190 excl. VAT |
Every year
Market prices from public sources, not our prices.
| Item | Typical cost |
|---|---|
| Registered office (from year 2) | EUR 250 to 300 a year |
| Company secretary (from year 2) | EUR 300 to 1,000 a year |
| Statutory accounts and tax return | from EUR 600 a year, active companies EUR 1,500 to 2,500 a year |
| Audit, or review for small companies | audit from EUR 1,200 a year, review from EUR 600 a year |
| Annual return (HE32) | EUR 20 |
| Beneficial owner confirmation | free |
| Annual company levy | abolished from 1 January 2024 (2011 to 2023 arrears still due) |
Accounts and audit are usually the biggest yearly cost. The price grows with the number of transactions, so a company with a few invoices a month costs far less than one with thousands of card payments.
Costs people forget
- Late filing penalties. A late annual return costs EUR 50 plus EUR 1 a day, capped at EUR 150, plus a EUR 20 overdue fee. A missed beneficial owner confirmation costs EUR 100 plus EUR 50 a day, up to EUR 5,000.
- VAT. Registration becomes compulsory within 30 days once taxable turnover passes EUR 15,600 in 12 months, and then VAT returns are filed every quarter.
- Bank fees. Business accounts in Cyprus often charge a monthly or quarterly fee, and some charge an application fee for companies from outside the EEA.