Can I hire a professional to set up my company in Cyprus?
Yes — but the registration itself must be done by a lawyer. The law on administrative service providers (196(I)/2012) keeps the power to register companies exclusively with lawyers, and the lawyer signs and swears the statutory declaration HE1 before the court. As a rule, a secretary, a registered office, directors or opening a bank account on your behalf may only be provided by lawyers, members of the Institute of Certified Public Accountants of Cyprus (ICPAC) and administrative service providers (ASPs) licensed by CySEC, all of whom are in public registers (the law also exempts banks and investment firms within their own business). For the tax identification number, VAT and annual accounts you can go to an ICPAC accountant. The government fees are €165 for the incorporation and €10 per proposed name. Professional fees have no official price: get written quotes from at least three firms.
📋 What the law says
- Only a lawyer can register the company (Law 196(I)/2012, section 4)
- The lawyer swears the HE1 declaration; registered office on HE2, directors and secretary on HE3
- Secretary, registered office, directors or nominee shareholders: as a rule only from lawyers, ICPAC members or licensed ASPs
- Government fees: €10 per name, €165 to incorporate (+€100 fast track)
- Then: tax number within 60 days (TAX FOR ALL), beneficial owners within 90 days, VAT above €15,600
🔓 What to check before you hire
- Which lawyer will swear the HE1: look them up in the Cyprus Bar Association member list
- The accountant in ICPAC’s members’ index; the firm in ICPAC’s ASP list or CySEC’s list of licensed ASPs
- A written quote that says what is included and what is charged every year (registered office, secretary, accounts)
- Whether the government fees (€165, €10 per name) are included in the fee or charged on top
- Who files the annual return HE32 and the accounts, and who registers the beneficial owners
⚠️ Costs and fines
Official fees at the Registrar of Companies: €10 per proposed name (+€20 for fast-track examination) and €165 to incorporate a company with share capital (+€100 for the accelerated procedure; +€160 if you want a translations file of the memorandum and articles). Lawyer, accountant or ASP fees are not set by any official source: get written quotes from at least three firms and compare exactly what each one includes. A fine worth knowing: if the company does not enter its beneficial owners in the register, it pays €100 plus €50 for each day the breach continues, up to €5,000, and a director who fails to comply can be jointly and/or severally liable with the company for the fine. The steps of incorporation, from name approval to registration, are on the page “Setting up a company”.
📎 Official sources
- companies.gov.cy · applying to incorporate (HE1, fees) →
- companies.gov.cy · name approval (€10) →
- cysec.gov.cy · Law 196(I)/2012 on ASPs →
- cysec.gov.cy · list of approved ASPs →
- icpac.org.cy · members’ index →
- icpac.org.cy · ASP firms licensed by ICPAC →
- cyprusbar.org · advocate members →
- gov.cy · Tax Department: tax number for businesses →
- businessincyprus.gov.cy · income tax & VAT registration →
- companies.gov.cy · register of beneficial owners →
- companies.gov.cy · beneficial owner penalties →
- companies.gov.cy · annual return & financial statements →
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❓ Frequently asked
Can an accountant register my company in Cyprus?
Not on their own. Law 196(I)/2012 says the power to register companies remains exclusively with lawyers, and the statutory declaration HE1 is signed and sworn before the court by the lawyer. An accountant can help with the tax number, VAT and the accounts. If you are offered a “formation package”, ask which lawyer will do the filing.
How much does it cost to set up a company in Cyprus?
The government fees are €10 for each proposed name and €165 to incorporate a company with share capital (€235 without share capital). The accelerated procedure costs €100 more. There is no official price for lawyer, accountant or ASP fees: get written quotes from at least three firms and compare what each one includes.
How do I check that a provider is allowed to do this?
Look up a lawyer in the Cyprus Bar Association’s list of advocate members. Check an accountant in ICPAC’s members’ index by name, surname or registration number. As a rule, a firm that provides a secretary, a registered office or directors must be a law firm or appear in ICPAC’s list of ASP firms or in CySEC’s list of licensed ASPs; the law also exempts banks and investment firms when they provide such services within their own business.
What should the quote say?
Ask for it to say who does what: name approval, the memorandum and articles and the filing by a lawyer, government fees, registered office and secretary if they provide them, tax and VAT registration, entering the beneficial owners in the register, and the annual return. Ask for the one-off fee and the yearly charges separately, so you can compare quotes properly.
What has to happen after incorporation?
The company registers in the Tax Registry for a tax identification number (TIC) within 60 days of incorporation, through TAX FOR ALL. Within 90 days of incorporation it enters its beneficial owners in the Registrar’s register. VAT registration is needed when taxable supplies exceed €15,600 over twelve months or are expected to exceed it in the next 30 days. The first financial statements are presented no later than 18 months after incorporation.
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