Who must register
All overseas companies that wish to establish a place of business in Cyprus must register with the Cyprus Registrar of Companies, within 30 days of their establishment in Cyprus.
The Cyprus Branch is not a separate legal entity. Even though a branch may have its own managers, the parent company is legally responsible for the activities of the branch.
How to register
Overseas companies may establish a branch in Cyprus by filing with the Cyprus Registrar of Companies the following documents:
- A written report containing the following information:
- the name and legal form of the overseas company, as well as the name of the branch (if it is going to be different from the name of the overseas company);
- the registered office and address of the overseas company as well as its business address;
- the purpose and objects of the overseas company;
- where applicable, the register in the third country, together with the relevant registration number of the overseas company where the basic information about the company has been filed;
- the amount of the capital subscribed (where applicable);
- the law of the state governing the company;
- where applicable information as to the winding-up of the overseas company, the appointment of liquidators, etc.
- The Certificate of incorporation of the company (certified).
- The Memorandum and Articles or the charter of the overseas company or any other document defining its constitution (certified).
- A List of directors and secretary of the company and their particulars. This shall include names, and surnames, nationality, business occupation, residential address, passport number.
- The Name and address of at least one person resident in Cyprus authorized to accept on behalf of the company any notices required to be served to the branch.
Reporting Obligations
You must file with the Cyprus Registrar of Companies within 15 days any changes of your company with regards to:
- Company name
- Business address
- Details of directors, secretaries or persons authorized to represent the company
- Memorandum and articles of association
Financial reporting obligations
A Cyprus Branch of an overseas company is required to file every financial year Audited Financial Statements, Directors’ report and Auditors’ report.
An exemption is granted to companies that are registered in another EU member state which are exempted pursuant to the provisions of the Directives of the European Union 78/660/EEC, 83/349/EEC and 84/253/EE, provided that they furnish the appropriate documents proving they are exempt under the directive.
Taxation of Branch’s profits in Cyprus
The Cyprus Branch is taxed on its profits that derive from its business operations in Cyprus at the rate of 12,5%, same as the tax rate that applies for the taxation of the Cyprus Companies.