FAQ: We’ve compiled a list of most common legal & bookkeeping related questions in one place.

A practical planning estimate is around one month once the complete documentation is ready. This includes name approval and incorporation and depends on the Registrar’s workload and any additional checks. Changing the name, directors, shareholders and address of an existing company also takes time and is not necessarily faster.

Sources: Registrar of Companies — incorporation

The name should be distinguishable from existing registrations and must not be misleading; a similar pronunciation can also cause problems. Prepare several alternatives. If the name is used by your overseas company or relates to a trademark, evidence of your rights and the owner’s consent may be required. FINLAB checks proposed names before filing, but approval remains the Registrar’s decision.

Sources: Registrar of Companies — name approval

The founder signs the Memorandum & Articles of Association. Additional declarations, consents and KYC documents may be needed depending on the structure. Incorporation can usually be arranged remotely. Signing, certification and delivery of originals should be agreed in advance: not travelling to Cyprus does not remove identity-verification requirements.

Sources: Registrar of Companies — incorporation

The usual starting point is a passport, proof of address and CV, together with information about the business and source of funds. A bank may also request statements, reference letters and ownership documents. The final checklist depends on the participants, business activities and the organisation carrying out due diligence.

Generally, yes: a Cyprus company can have shareholders of different nationalities. Sanctions, participants’ nationality and residence, source of funds and the nature of the business still need to be considered. Some cases require additional checks. FINLAB reviews the proposed structure and practical next steps before filing.

Sources: Registrar of Companies — incorporation

A private company is generally limited to 50 members, subject to statutory exceptions for certain employees and former employees. A common structure is 1,000 shares of €1 each, but this is not a universal requirement. Planning for investors or options requires a distinction between authorised capital, issued shares and the procedure for future allotments.

Sources: Companies Law, Cap. 113

An ordinary private company is not universally required to deposit its entire stated capital into a bank account at incorporation. Payment depends on the share-issue terms, articles and any requirements for the particular activity. Unpaid amounts on subscribed shares remain the shareholder’s obligation, so the capital should reflect the intended structure rather than an impressive headline figure.

Sources: Companies Law, Cap. 113

Hiring under the foreign-interest-company route requires registration through the Business Support Center / BFU and compliance with the relevant immigration category. Checks include an eligible structure, an initial €200,000 investment and separate business premises. A lease must run for at least 12 months; a dedicated coworking office may qualify, but residential premises do not. Other employment categories have different procedures.

Sources: Business Support Center — foreign interest companies

Not necessarily. The rules also recognise qualifying investment in business premises and equipment. Bank evidence and documents issued in the company’s name are needed; ordinary running costs should not automatically be treated as qualifying investment. There is also a permitted period for making the investment before applying, so check the spending plan and evidence in advance.

Sources: Business Support Center — foreign interest companies

One or more shareholders can contribute, including through several transfers, provided the source and movement of funds are fully documented. The deposit route requires the company’s account at a Cyprus credit institution licensed by the Central Bank; EMI and payment-institution accounts do not meet that criterion. The amount, transfer dates and investors’ relationship to the company must be checked.

Sources: Business Support Center — foreign interest companies

EU citizenship alone does not remove the investment criterion under this scheme. The company must first fit an eligible category: ownership by an EU citizen may not be sufficient on its own. High-tech and innovative companies have their own eligibility and evidence requirements, and the investment criterion also applies to those categories.

Sources: Business Support Center — foreign interest companies

For highly paid employees of companies of foreign interests, the standard threshold is €2,500 gross per month and an employment contract of at least two years. Relevant qualifications or at least two years of relevant experience are also required. This is not a universal threshold for every work permit: other categories and transitional cases need a separate assessment.

Sources: Migration Department — employment policy

The usual checklist includes a passport, CV, qualifications or evidence of relevant experience, a criminal-record certificate, medical documents, accommodation and insurance evidence. The employer provides the contract and corporate forms. Document validity, apostille requirements and acceptable translations depend on the issuing country and application category. FINLAB prepares an individual checklist and checks the package before filing.

Sources: Migration Department — employment policy · Migration Department — applications and change of employer

An in-country application is possible in the circumstances allowed by the rules, provided entry and stay are lawful. The relevant employment-permit conditions must be met before work begins. An application receipt is not an unconditional travel authorisation: departure and re-entry depend on the documents and status held. Processing and card-issuance dates cannot be guaranteed in advance.

Sources: Migration Department — applications and change of employer

Check the conditions of the current status before the existing employment ends. For a highly paid employee moving to another company of foreign interests, the rules provide for finding new employment within one month of the previous employment ending. A new application and a review of current documents are required; previously submitted certificates should not automatically be assumed to remain valid.

Sources: Migration Department — applications and change of employer

A permit tied to a particular employer does not automatically authorise a second job or self-employment. Passive share ownership is different from actually working for another company. Even within the same group, the permit conditions, the person’s role and any additional approval requirements should be checked before the activity starts.

Sources: Migration Department — employment policy

Family procedures are available for spouses and minor children; whether applications can be made together depends on the conditions being met. Relationship documents, resources, accommodation and insurance are checked. Where family-reunification conditions are not yet met, a dependent-visitor route with different rights may be available. Agree the category and checklist before moving.

Sources: Migration Department — dependent family members · Migration Department — family reunification and employment

Spouses of employees of companies of foreign interests can have free access to paid employment, subject to the family-permit conditions and immigration law. This does not automatically include self-employment. Dependent-visitor and other family categories may not allow work, so the actual permit category matters, not simply the fact of being married.

Sources: Migration Department — family reunification and employment

Dependent parents and parents-in-law may qualify for dependent-visitor status. The Migration Department specifies a sponsor’s base annual income of €24,000, increased by 20% for a spouse or partner and 15% for each child and dependent ascendant. Relationship, dependency and the other conditions must be documented. This is a separate procedure, not an automatic extension of the employee’s work permit.

Sources: Migration Department — dependent family members

A visitor permit allows residence without employment by a Cyprus employer. Digital Nomad is a separate route for remote work for an overseas employer or foreign clients, subject to income and other requirements. The two statuses are not interchangeable. A representative may submit a digital-nomad application, but biometrics require personal attendance, so the process should not be presented as entirely remote.

Sources: Migration Department — digital nomads

Eligible highly skilled employees may use a reduced residence period: three qualifying years with Greek at B1 or four with A2, plus the immediately preceding 12 months of continuous lawful residence. Absences totalling up to 90 days are allowed during that final period. At least two years’ employment at an eligible company and the other conditions must also be met. Meeting the residence period allows an application; it does not guarantee citizenship.

Sources: Ministry of Interior — naturalisation (M127)

Tax residence and citizenship do not use the same calculation. Tax residence requires a separate check under the 183-day or 60-day rule and its other conditions. The reduced naturalisation route allows certain absences of up to 90 days per year, so business trips are not necessarily excluded in full. Keep a travel calendar and assess it against the particular procedure.

Sources: Ministry of Interior — naturalisation (M127) · Tax Department — tax residency and domicile

An EU citizen generally does not need a Cyprus work permit, but a Cyprus contract and tax number do not settle every issue when work is performed abroad. Local employment, tax and social-security rules must also be checked. When moving to Cyprus for a stay exceeding three months, the MEU1 application must be made within four months of arrival.

Sources: Your Europe — cross-border taxation · Ministry of Interior — registration certificate MEU1

The MEU1 registration certificate is arranged through the authority for the place of residence. The usual documents include a valid passport or ID and evidence of employment, self-employment, or sufficient resources and medical insurance. Confirm the checklist and appointment procedure for your category. MEU1 does not require routine annual renewal, but the right of residence remains subject to the applicable conditions.

Sources: Ministry of Interior — registration certificate MEU1

A 50% employment-income exemption may apply if all conditions of the relevant regime are met, including remuneration above €55,000 and the required prior tax-residence history. A high salary alone is not enough: the date and circumstances of starting work also matter. Non-dom status and exemption from Special Defence Contribution are assessed separately and do not remove all taxes or contributions. FINLAB can help with a preliminary assessment.

Sources: Tax Department — employment exemptions · Tax Department — tax residency and domicile

Stamp duty was abolished from 1 January 2026. The repeal applies to new documents and agreements, but documents signed by at least one party before that date may retain obligations under the previous rules. When reviewing an older contract, the actual signing date matters, not just the date in its heading.

Sources: Tax Department — tax reform 2026

Typical obligations include the HE32 annual return, UBO confirmation, financial statements with the applicable audit or review, and tax returns. VAT, payroll and other filings may also apply. The HE32 reference date is company-specific and the filing period is 28 days from the return’s drafting date. There is no single ‘18-month deadline’ covering every obligation. FINLAB maintains a calendar for your company’s filings.

Sources: Registrar of Companies — annual return deadlines · Registrar of Companies — beneficial ownership guidance

It records the individuals who ultimately own or control a company. A newly incorporated company generally makes its initial filing within 90 days; changes are reported within 45 days, and details are confirmed annually between 1 October and 31 December. Access is subject to separate rules: the UBO register is not the same as the ordinary register of shareholders.

Sources: Registrar of Companies — beneficial ownership guidance

There is no universal rule requiring an ordinary company to hire one employee simply to exist as a legal entity. It must still have appropriate management and economic substance and meet employer obligations when hiring. IP Box eligibility depends on the IP, R&D activity and expense records. One employee does not by itself guarantee relief, and an employee-free structure needs an assessment of how the business actually operates.

Eligibility and timing depend on the business, ownership structure, participants’ nationality and residence, source of funds and expected transactions. Banks and fintech providers run their own checks and may request more documents or decline an application. FINLAB helps prepare a clear documentation package; account approval and a particular opening date cannot be guaranteed.

The usual checklist includes current corporate certificates, UBO information, address and identity evidence, a business description and source-of-funds documents. An ownership chart, contracts, invoices and a business plan may also be requested. Document-age requirements vary by provider: a blanket ‘everything under three months old’ rule is not universal. Address evidence must reflect the real circumstances.

Revolut Business may suit an eligible Cyprus company, subject to its structure, activity and the provider’s checks. It is not a universal substitute for every account required in a government procedure. For example, the BFU investment criterion must be assessed against its licensed-credit-institution rules. Choose providers around the company’s actual transactions and regulatory requirements.

Sources: Revolut — supported business entities · Business Support Center — foreign interest companies

Yes, a shelf company or an operating company may be considered. Before buying, check liabilities, filings, beneficial ownership, contracts and seller warranties. A change of ownership may trigger fresh bank due diligence and reviews of associated registrations. VAT status, an account or BFU registration should not be treated as unconditional benefits that automatically remain available. Compare timing and suitability with a new incorporation case by case.

Sources: Registrar of Companies — incorporation

The main options include voluntary striking off and formal liquidation. The suitable route depends on solvency, assets, liabilities and filing status. Striking off does not erase debts or replace settlement of tax and other obligations. First bring the company’s affairs up to date, then choose and complete the appropriate procedure.

Sources: Registrar of Companies — voluntary striking off

Yes. You can communicate with FINLAB and prepare source materials in Russian. Government submissions require translations and certifications accepted by the particular authority. Cyprus certified translations are provided by registered sworn translators within the permitted language directions, including between a foreign language and Greek or Turkish. Machine translation does not replace a required certified document.

Sources: Gov.cy — certified translations

Full list of documents:
– application form on the website of the Migration Department;
– Copy of a valid passport or other travel document valid as of the date of application for at least six months after the end of the employment contract (minimum allowable period of validity: 9 months). The original passport must be presented at the time of application, for verification;
– copy of the page of the passport or other travel document indicating the last arrival in the Republic and the entry visa;
– Copy of the marriage certificate, whereby the couple must have been married for at least a year before the application and the spouse must be at least 21 years old;
– a bank guarantee – a sum of money blocked in the Cyprus bank account of the applicant to cover the cost of possible deportation. For Russian citizens it is 550 euro.
– Copy of birth certificate for minor children, with children being under 18 years old and unmarried;
– For children from 4.5 to 15 years old – a letter from a kindergarten or school licensed by the Ministry of Education of Cyprus about enrollment/attendance at an educational institution;
– Court decision on the adoption of minor children (if required);
– The original certificate of no criminal record from the country of citizenship (for persons over 16 years);
– Original certificates of medical tests, confirmed by a doctor in Cyprus, indicating that the citizen of a third country is not a carrier of HIV, syphilis, hepatitis B and C, and tuberculosis (absence of tuberculosis confirmed by chest X-ray). In case of repatriation with an entry visa issued by the employer these tests have to be done twice: in the country of origin and in Cyprus;
– document confirming the ownership or rental agreement of the house / apartment;
– Certificate of health insurance covering inpatient and outpatient treatment and transport of the body (Plan A), or a certificate of registration in the General Health Care System (GHCS) and private insurance for the transport of the body;
– An employment contract of the working spouse, signed and stamped by the employer, which is valid for at least 18 months from the date of application;
– A copy of the employee’s tax return for the previous year, with proof of income, taxes and deductions;
– bank statements of the working spouse’s bank account;
– utility bills (telephone, electricity or water) for the working spouse.
All documents must be submitted in originals, duly certified. In case there is no mutual agreement between Cyprus and the country of issue, the documents must be apostilled. An apostille is not required for documents issued by the Russian Federation.
The documents submitted with the application must be in Greek or English language. Otherwise, they must be accompanied by a notarized translation into one of these languages.
The application is submitted in person – the applicant is photographed, fingerprinted and signed. After going through the procedures, the relative can legally reside in Cyprus, obtaining a residence permit for a dependent family member, without the right to work.

For family members (spouse and dependent children) who are temporarily ineligible for family reunification (e.g. due to passport validity, age or length of marriage), a temporary dependent visitor’s residence permit can be issued. These family members can enter on a tourist visa and then apply to the Migration Department for a temporary residence permit.