Company Formation
Transparent breakdown of every cost in Cyprus company formation: Registrar fees (€165), professional fees, registered office, nominee services, banking setup, and ongoing annual costs. No hidden numbers.8 min read · By Nexora Cyprus editorial team · Reviewed by an ICPAC-registered Cyprus tax adviser engaged by Nexora
Quick Summary
The Cyprus Registrar fee for standard incorporation is €165 (up to €1,000 authorised share capital). Total all-in incorporation cost including professional fees is typically €700–€1,500. The €350 annual company levy was abolished from 2024. Ongoing annual costs for an active company include registered office (€300–€600), secretarial services (€500–€1,200), accounting (€800–€3,000), and audit (€1,500–€5,000).
Cyprus Company Incorporation — Cost Breakdown
| Item | Typical Cost | Notes |
|---|---|---|
| Registrar filing fee (HE1+HE2+HE3+M&AA) | €165 | Government fee; standard share capital up to €1,000 |
| Expedited Registrar processing | +€100 | Optional; reduces timeline to 1–2 days |
| Professional/legal fees — standard incorporation | €500–€1,500 | Varies by provider; includes name search, drafting, filing |
| M&AA bespoke drafting (if required) | €300–€800 | For class shares, drag-along, complex provisions |
| Apostilled certificates (if needed abroad) | €50–€150/set | Certificate of Incorporation, M&AA, directors/shareholders |
Annual Running Costs — Cyprus Company
| Item | Annual Cost | Notes |
|---|---|---|
| Annual Levy (Registrar) | €0 (abolished 2024) | Annual levy was abolished from 2024; previously €350/year |
| Registered office service | €300–€600/year | Required by law; price varies by provider |
| Company secretarial service | €500–€1,200/year | Includes HE32 filing, minutes, resolutions |
| Nominee director service (if used) | €1,500–€4,000/year | Varies by scope of responsibilities |
| Accounting/bookkeeping | €800–€3,000/year | Depends on transaction volume |
| Audit (if required) | €1,500–€5,000/year | Mandatory for most active companies |
| Corporate tax return preparation | €500–€1,500/year | Included in some accounting packages |
Opening a corporate bank account in Cyprus is a separate process from company registration and involves its own costs and timeline. Traditional Cyprus banks (Bank of Cyprus, Eurobank Limited) typically charge annual maintenance fees of €200–€500/year and require in-person meetings. Electronic Money Institution (EMI) accounts (e.g., Wise Business, Airwallex, Revolut Business) are often faster to open and cheaper to maintain.
Banking Options — Cost and Timeline Comparison
| Option | Setup Time | Annual Fee | Notes |
|---|---|---|---|
| Cyprus bank (Bank of Cyprus, Eurobank Limited) | 4–12 weeks | €200–€500 | In-person KYC; comprehensive services |
| EMI (Wise Business, Revolut Business) | 1–2 weeks (online) | €0–€240 | Good for international payments; no lending |
| International bank (HSBC, ING) | 8–16 weeks | €300–€1,000 | Suitable for larger structures; more complex onboarding |
Cyprus offers two registration tracks at the Registrar of Companies (DRCOR). The expedited track adds approximately €100 in government fees and reduces processing time from 5–10 working days down to 1–2 working days. For founders with a defined go-live deadline (a contract signing, an investment closing, or a banking onboarding window), the expedited fee is usually a no-brainer.
Standard vs Expedited Cyprus Incorporation
| Dimension | Standard Track | Expedited Track |
|---|---|---|
| Registrar government fee | €165 | €165 + ~€100 |
| Name approval processing | 3–5 working days | 1 working day |
| Incorporation processing | 5–10 working days | 1–2 working days |
| End-to-end (KYC → Certificate) | 10–15 working days | 5–10 working days |
| TIN registration (Cyprus Tax Department) | Same in both tracks (~3–5 days post-incorporation) | Same in both tracks (~3–5 days post-incorporation) |
| Risk of name-rejection rework | Same in both tracks | Same in both tracks |
| Best for | Founders with no specific deadline; cost-sensitive setups | Time-sensitive deadlines (contracts, investment closings, bank windows) |
| Effect on banking onboarding | Slight delay (banks can pre-screen on incorporation date) | Identical (banks evaluate company on receipt of Certificate) |
The expedited track is a Registrar service applied per filing. Each subsequent filing (post-incorporation amendments, share-capital changes, director changes) can be expedited or standard independently. Most fast-track engagements expedite incorporation only and use standard processing for routine updates.
Cyprus has 200+ corporate-services providers. Quality varies dramatically. Before engaging any firm to register your Cyprus company, ask these six questions:
Nexora is happy to be benchmarked against this checklist. We coordinate ICPAC and Cyprus Bar engagements under a single fixed-fee letter, list our ASP registration in our footer, name the senior on every engagement letter, and carry full professional indemnity. See our [editorial standards](/editorial-standards) and [services hub](/services).
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Disclaimer: This article is for informational purposes only and does not constitute legal, tax, or financial advice. Tax laws change frequently. Consult a qualified Cyprus adviser for guidance specific to your situation. The information on this page is general guidance only and does not constitute legal, tax, accounting, immigration or financial advice. Specific advice should be obtained based on the facts of each case.
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