If you have already incorporated a company in another jurisdiction, you do not need to stop its activities. You may be able to transfer the company to Cyprus, provided this is allowed by the law of the country of incorporation and by the company’s Memorandum and Articles of Association.

The procedure usually takes 3 to 4 months. Once it moves to Cyprus, the company enjoys the same benefits as a new Cyprus company:

• Corporate tax of 15% on taxable profits from 2026.
• A legal system based on English common law, known for its transparency and reliability in business.
• Dividends paid to shareholders who are not tax resident in Cyprus are not taxed in Cyprus.
• A network of more than 65 double tax treaties.
• A standard VAT rate of 19%.
• No exchange controls, so the company can hold bank accounts in any currency, anywhere in the world.
• Tax losses can be carried forward for seven years.

 

The steps for transferring your company to Cyprus are as follows:

• Appoint a local representative approved by the Institute of Certified Public Accountants of Cyprus (ICPAC) or a member of the Cyprus Bar Association to handle the re-domiciliation. K.P.S. Services Ltd is a fiduciary services provider approved by ICPAC and provides this service.
• Complete form ME1 and submit it to the Registrar of Companies together with the supporting documents, which include:
• An affidavit in Greek and English confirming:
  • The company’s current name and the name it will use in Cyprus.
  • The jurisdiction where the company is currently registered.
  • The company’s date of incorporation.
  • The current shareholders and directors, with full names, residential addresses and passport details.
  • That the company is in good standing and has no legal disputes in its country of incorporation.
• An original Certificate of Good Standing from the country of incorporation, duly certified and apostilled, with a Greek translation sworn before the court.
• The foreign company’s Memorandum and Articles of Association, revised to meet the requirements of the Cyprus Companies Law.
• A full set of statutory documents, apostilled in the country of incorporation.
• An affidavit confirming that the authority in the country of incorporation has been officially notified of the planned move to Cyprus.
• A company resolution authorising the re-domiciliation to Cyprus and the amendment of the Memorandum and Articles of Association under Cyprus law.
• Form ME A, submitted together with form ME1, stating that there are no criminal or administrative proceedings against the company in its country of incorporation.

 

The Registrar of Companies then issues a temporary certificate of continuation, allowing the company to operate under Cyprus company and tax law.

Within 6 months of the temporary certificate, the company must file form ME4 with the Registrar of Companies, together with official proof, such as a Certificate of Cessation, that it has been removed from the register in its country of incorporation.

Once all documents are in order, the Registrar of Companies issues the final certificate of continuation of the company in the Republic of Cyprus.

This article provides a general overview of re-domiciling a company to Cyprus. It is not legal or tax advice. Please ask us for advice tailored to your situation.