Cyprus company yearly running costs

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Macky

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Sep 10, 2017
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I want to ask you guys what are approx. yearly running costs for your Cyprus Ltd. ?

  • Accounting approx 15 items per month
  • Possibly VAT tax returns monthly
  • Once a year tax audit required by law
  • Do I need to rent registred office ?
  • + What did I forget ?
 
You should expect something like 2 - 3000 euro per year.
 
You want to make a budget and some calculation to find break even and when‌ it would profitable for you to setup something in Cyprus. Many people do this because‍ they have limited options while others do it because they have it within their tax⁠ planning.
 
Cyprus is cool for company and banking if you know how to setup your business‌ AND if you are not to stupid to setup a real looking business.
 
"AND if you are not to stupid to setup a real looking business."

Could you‌ please elaborate on this? Why would a real looking business be stupid, surely something that‍ was fake looking is worse??
 
The problem with most people are not that they are stupid but more to lazy‌ to structure and setup their business correct.

You want to get a professional website setup‍ which is reflecting the fee structure of your "hidden" business. If you are unable to⁠ do this task yourself then find a professional webdesigner to make the website for you.⁤ Next things is the business description and even a business plan. If you can provide⁣ both in professional English and which explains your "new" business activity in a professional language⁢ your chances to get a bank account rise by 80%.

The final step is to︀ generate invoices each time you sell something, if you produce many each day you need︁ someone to build a system for you that do this automatically, if you only generate︂ a few invoices a week you need to do the task manual and find a︃ professional accounting system to do the task. If someone request a particular invoice it looks︄ way better and professional if you can deliver the request within minutes.

that's just a︅ few hints, hope it helps for a better understanding!
 
Did you setup a Cyprus⁤ company? if not already then ask the agent what the next year / ongoing year⁣ costs are before you order in that way you don't get any suprise.
 
Assuming the agent is helpful and not⁠ planning to hit you with hidden costs. Hence why asking others who have been through⁤ it what there costs were 🙂
 
not all happy customer want to share info. Most will not only if‍ they got cheated.
 
Around 140 EUR per month for bookkeeping and 1.200 EUR per year for the audit.‌
 
it depends on how many transactions you have in the company. For micro corps it‌ may be true with 140 euro a month for larger corps it' much more!
 
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