Fees and timelines in 2023
Fees
Cyprus LLC setup costs in Year 1 will amount to €3,950 and annual company costs in Year 2 and thereafter will amount to €0. The average fee per engagement amounts to €13,350 including i) Cyprus company incorporation ii) corporate bank account setup iii) legal registered office and iv) all government registration fees.
| Different Cyprus entity types | Cost | Draft invoice |
|---|---|---|
| Tax resident LLC | €13,350 | View invoice PDF |
| Shelf company | €16,140 | View invoice PDF |
| Branch of foreign company | €11,705 | View invoice PDF |
| PLC | €12,335 | View invoice PDF |
| Free zone | €10,535 | View invoice PDF |
| Holding company | €9,835 | View invoice PDF |
| Offshore trust | €15,585 | View invoice PDF |
Click here to create your own Cyprus invoice
Timelines
The average Cyprus company registration period is 9 weeks as outlined below:
| Service | LLC | PLC | Foundation | Branch | Offshore trust | Holding company | Free zone company |
|---|---|---|---|---|---|---|---|
| Engagement planning | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Company incorporation period | 2 weeks | 3 weeks | 3 weeks | 3 weeks | 3 weeks | 2 weeks | 3 weeks |
| Bank account approval | 4 weeks | 4 weeks | 4 weeks | 4 weeks | 4 weeks | 4 weeks | 4 weeks |
| Internet banking approval | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Engagement completion | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 9 weeks | 10 weeks | 10 weeks | 10 weeks | 10 weeks | 9 weeks | 10 weeks |
