Frequently Asked Questions (FAQ): Company Formation in Cyprus for U.S.-Based Greek Cypriots

By E CHATZIDIMITRIOU LLC

Serving Greek Americans and expats worldwide – Full legal support, remote setup, and online consultation in Greek and English

Introduction

If you are a Greek Cypriot living in the United States and considering forming a company in Cyprus, you likely have many questions about the process, legal requirements, taxation, and how to manage everything remotely. This FAQ provides clear, practical answers for the most common concerns, based on the experience of supporting dozens of Greek American entrepreneurs.

Top FAQs on Company Formation in Cyprus for Greek Americans

1. Can I form a company in Cyprus if I live in the USA?

Yes, Greek Cypriots living in the USA can form and fully own a Cyprus company. The entire process can be completed remotely, including all document signing.

2. What types of companies can I set up in Cyprus?

The most common is the Private Limited Liability Company (LTD). Other options include Holding Companies, Branches of foreign companies, and partnerships.

3. Do I need to visit Cyprus in person?

No. All procedures, including signing, can be managed remotely through power of attorney and online identification.

4. What documents do I need?

Typically:

• Certified copy of your passport

• Proof of address (e.g., utility bill)

• Reference letter from a bank

• Completed application forms (prepared by your lawyer)

5. How long does company formation take?

Usually 7–10 business days after all documents are submitted.

6. Do I need a Cypriot partner or director?

No, but you do need a registered address and company secretary in Cyprus, which your law firm can provide.

7. Can the company open a bank account in Cyprus?

Yes. Most Cyprus banks allow for remote opening, but require full KYC/AML documentation and sometimes a video call.

8. What are the main tax benefits for Greek Americans?

• Corporate tax rate is only 12.5%

• Exemption on dividend income in many cases

• No withholding tax on dividends paid to non-residents

• Double tax treaties with the USA and many other countries

9. What annual requirements exist for Cyprus companies?

• Annual accounts must be audited and filed

• Tax returns and annual reports must be submitted

• Companies must maintain a registered address and secretary

10. Can I manage my Cyprus company entirely online?

Yes. Directors, shareholders, and even meetings can be managed virtually. All filings, bank transactions, and even contracts can be executed online.

11. How can E CHATZIDIMITRIOU LLC help me?

• End-to-end company setup remotely

• Assistance with banking, tax, and compliance

• Ongoing legal and accounting support

• Consultations in Greek and English, online or in person

12. What are the main mistakes to avoid?

• Not complying with local annual filing and audit rules

• Not providing accurate KYC information to banks

• Choosing the wrong company structure for your needs

• Failing to maintain active local representation

Need More Answers?

Every situation is unique. Contact us directly for personalized guidance!

E CHATZIDIMITRIOU LLC

Phone (USA): +13474034789

Email: info@hatzidimitriouvirtuallaw.com

[Schedule an online consultation – Serving clients in the USA, Cyprus, and Greece]