Approximate yearly costs for an active Cyprus resident company

[eonsat]

How much would it cost (in total) to maintain an active Cyprus resident company which provides IT services to worldwide clients, approximately 200 invoices per year?

 

[JohnLocke]

It depends very much, but most pay between 1500 and 2500 euro for the filing‌ of tax and another 600 euro for the accounting. It will all depend on the‍ total case.

 

[clemens]

For a small company in Cyprus the mention figures may be true (Admin must know‌ 🙂 ) We pay at least 5 times the amount mentioned here, each year.

 

[ACA]

Extensive list of costs


Costs regarding a Cyprus Company may vary depending on the volume of transactions, and of course nature of transactions.


Set-up costs are one-off and with market research these can be brought down to a minimum and very attractive package.


But you should be aware, of nominee fees, secretarial fees, registered office fees, and of course the new levy on Companies (imposed from 2011 onwards).

 

[ACA]

Extensive list of costs

Costs regarding a Cyprus Company may vary depending on the volume‌ of transactions, and of course nature of transactions.

Set-up costs are one-off and with market‍ research these can be brought down to a minimum and very attractive package.

But you⁠ should be aware, of nominee fees, secretarial fees, registered office fees, and of course the⁤ new levy on Companies (imposed from 2011 onwards).

 

[JohnLocke]

Agree, there is no standard fee on the costs incurred each year it all depends‌ on the activity, nature and number of transactions of the company.

 

[eonsat]

In my question, I clearly stated that there will be 200 sales invoices per year‌ only, nothing else.

 

[JohnLocke]

And you got the answer already in‍ this thread :coffe:

 

[megamath]

For a second I considered a different CSP in Cyprus to file my tax and‌ report my books for my Cyprus company, they claimed only to charge EUR 500 for‍ the entire task while our forum owners here 🙂 wanted EUR 1500 for my company.... during⁠ the process it went out they charged almost the exact same fee EUR 1460!!!! So,⁤ I don't believe that if you have a simple company structure with less bills, that⁣ you can safe that much on this task. The benefit to use the same CSP⁢ who formed your Cyprus company is that they know you and for that reason most︀ often will be able to help you out with most of the issues you may︁ face.

 

[eonsat]

As for me, 500 vs 1500 is a huge difference (200% more). If some company‌ claims to be able to do the same task for much less, I choose them.‍ But I would double confirm with them the price, of course.

 

[JohnLocke]

I agree with eonsat... the thing is, it wasn't possible to get the job done‌ for the estimated fee from the competitor, this is what we most often see, also‍ with the company incorporation.. some claim to be able to do it for almost 1/2⁠ the price and get the signature from the customer, afterwards one fee after the other⁤ pulls up and the client is badly disappointment. We don't do that for the same⁣ reason.