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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.

  • Meanwhile, time spent on work is usually charged at approximately:
  • General company administration and maintenance work: 50 - 150 euro per hour
  • More complex accounting, tax and legal work: 180-250 euro per hour for
A.  Company Registration & Related Professional Services
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

B.  Accounting Services
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.

C.  Company Websites, Domains & Hosting
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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