Doing Business in Cyprus Remotely: Managing Your Cypriot Company from the U.S.

By E CHATZIDIMITRIOU LLC

Serving Greek Americans and expats worldwide – Online meetings in Greek and English

Introduction: Global Business, Local Rules

In today’s digital age, Greek Americans and Cypriot expats living in the United States can establish and manage a company in Cyprus without ever leaving America. Cyprus is recognized as a flexible, business-friendly jurisdiction within the European Union, offering international entrepreneurs access to favorable tax regimes, modern banking, and a reputable legal environment.

However, remote management requires awareness of specific local obligations, the right legal structure, robust digital tools, and reliable professional support. E CHATZIDIMITRIOU LLC assists Greek Americans at every stage—ensuring your Cyprus company runs smoothly, securely, and in full compliance with the law.

Key Steps to Managing Your Cyprus Company Remotely

1. Choosing the Right Company Structure

Select the structure that best suits your business needs (e.g., Limited Company, Holding, Branch).

• Cyprus law allows foreign residents to be 100% shareholders and directors.

• A local secretary and registered address are required.

2. Remote Incorporation and Opening Bank Accounts

• The entire incorporation process, including signing documents, can be completed remotely via electronic signatures and courier.

• Most Cyprus banks facilitate remote account opening with notarized documents and video verification.

• Keep in mind: banking compliance in Cyprus is strict—always provide transparent documentation about your business and source of funds.

3. Digital Company Management

• Use online banking, cloud-based accounting software, and digital document management for efficient daily operations.

• Annual General Meetings (AGMs) and Board meetings can be conducted online and must be properly minuted for legal compliance.

• Secure online portals can be used for communication with your Cypriot accountant, legal advisors, and company secretary.

4. Tax, Accounting & Compliance Obligations

• Cyprus companies must keep updated accounts, submit annual tax returns, and file audited financial statements regardless of where management is located.

• Register for VAT if your turnover exceeds the local threshold or if you do business within the EU.

• Keep track of all compliance deadlines—late filings result in significant penalties.

5. Power of Attorney & Local Representation

• Appointing a Cyprus-based representative (via Power of Attorney) can help with tasks requiring a local presence, such as bank visits or dealing with authorities.

• Your law firm can act as the registered address and official contact point with government departments.

6. Communication & Corporate Governance

• All official documents, resolutions, and minutes should be securely stored and accessible online.

• Decisions can be made by written resolution, electronic signature, or virtual meeting.

Common Challenges and How to Overcome Them

• Banking compliance: Provide full, clear documentation for all transactions.

• Legal notifications: Use a local registered address (law office) to ensure no missed deadlines.

• Cultural differences: Work with local professionals fluent in Greek and English who understand international clients’ expectations.

• Annual audits and filings: Schedule ahead with your accountant and auditor—plan for the time difference with the U.S.

Why Choose E CHATZIDIMITRIOU LLC for Your Remote Cyprus Company?

• Full remote company formation and management for Greek Americans, expats, and international clients.

• Online meetings and communication in Greek and English.

• Ongoing legal, tax, and compliance support.

• Handling all administrative, government, and banking procedures on your behalf.

Contact Information:

E CHATZIDIMITRIOU LLC

Phone (USA): +13474034789

Email: info@hatzidimitriouvirtuallaw.com

[Online consultation available – support for cases across Cyprus and Greece]