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Cyprus company management involves the execution of a number of core administrative tasks, together with the management needed for the specific operations of the company.


Core administrative tasks include: 


  • Monthly VAT reporting: Cyprus is part of the European Union’s VIES system and all income (and expenditure) with VAT is recorded monthly. 


  • Quarterly VAT reporting: Each company registered under VAT in Cyprus must submit quarterly VAT statements. This is done on a quarterly schedule that differs from company to company, and reflects the date of registration. 


  • Half-Yearly Profit Estimate: Each company in Cyprus must provide an annual profit estimate by 31 July of each year (for that year). Any profit tax is pre-paid by 50%, with the remaining 50% payable at the end of the year. Variations in the estimate are penalized. 


  • End-Year Profit Estimate: Each company in Cyprus submits an end-of-year profit estimate (even before accounting is completed), and is required to pre-pay the second 50% of profit tax based on that. 


  • Company Levy: Each company in Cyprus must pay a € 350 annual fee. 


  • Professional Fees: Depending on the city of registration, each company must pay a professional fee, which is levied based on whether the company has an independent office or not. Recent fees typically start at € 150 per year. 


  • Annual Accounting and Audit: Annual audited accounts must be submitted each year, for the preceding year. 


  • Updating Reporting Information: Any major changes in registration status, such as change of Directors or Company Secretary, or change of address, must be recorded with the Company Registrar. 


If the company has salaried employees, then monthly social security payments on salaries must be made. 


In order to comply with Cyprus Substance requirements, then companies typically should also implement the following activities: 


  • At least one Board Meeting should be held in Cyprus, with the physical presence of shareholders and directors. 

  • A physical office is typically needed, with evidence to include a rental contract (or purchase agreement) and utility bills in the name of the company. 

  • Individual investors also need to show a physical presence. 

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