|Bank Account Opening Fees:
|Annual Renewal Fee:
Price on application. Based on the business activity
Between €950.00 – €1,250.00 (dependent on number of transactions. Individual quote will be provided)
Branch office fee schedule
|Description of Service||Fees (EUR)|
|Registration of Branch Office||€4,500.00
Additional fees may be applicable
dependent upon certification of documents
|Bank Account Opening||€500.00|
|Residence Permit (Annual Fee)||€900.00|
|Monthly Service Fees:|
||From €500.00 per month
€200.00 per month
€350.00 per month
Please note the above fees are guidelines only – additional fees may be applicable dependent upon individual requirements therefore quotations will be provided.
Notional Interest Deduction: A Useful Tool for Cyprus Companies
The corporate income tax rate of a Cyprus-resident company is 12.5% on its global taxable revenue, with unilateral credit for related foreign tax suffered. Moreover, non-Cyprus residents are not liable to pay Cyprus withholding taxes on payments. Frequently, the effective corporate tax rate is much lower, or even as low as nil, due to various tax exemptions and allowances.
How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes
The recent implementation and increasingly stringent tax developments globally can affect companies with offices in different countries; rendering them non-viable if certain factors are not carefully considered.
The Legal Consequences of the Unlawful Transfer of Personal Client Data to Third Parties: UK Case Study
As per English common law, banks are liable to both criminal and civil proceedings. According to the case of Bank of Scotland v A, banks have an ability to choose between criminal and civil liability in litigation with their customer. Nevertheless, ‘the last bit’ of this choice has to be decided by the court.
Dormant Companies: A Definition by the Cyprus Inland Revenue Dept
Following Circulars No.2011/11 and No.2011/5, this article will explain what a "dormant company" is, its symptoms and consequent requirements. The following is an extract from PART 1.7 of the "Company Income Statement" form (EP 4), whereby a definition of a dormant company is considered to be a company that meets the following conditions:
How to Effectively Use Software to Improve the Purchasing Process Within your Company
Companies all over the world rely on controls over expenditure at the point of logging a supplier invoice or receipt, which over time can cause difficulties in producing timely and reliable account management.
Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector
One of the most important regulatory banking documents on information security is the Regulation on bank secrecy and confidential information, which exists in every bank. This document entered into legal force by the banking sector’s order.
Troika Lenders Visit Cyprus Following Withdrawal From Bailout Programme
Representatives from the troika of Cyprus’ international lenders, the International Monetary Fund, European Commission and the European Central Bank, recently visited Cyprus for conducting their 4th post-scheme investigation following the islands recent withdrawal from the economic adjustment programme as agreed with the terms of the bailout.
The EC's Plans to Reduce NPLs in Europe May be Beneficial for Cyprus
Last month, the European Commission proposed an ambitious and comprehensive package of measures to tackle non-performing loans (NPLs) in Europe, making the most out of the promising progress already made in reducing risks in the banking sector.