Cyprus (LTD) vs Georgia (LLC)
Comparison of Cyprus (LTD) vs Georgia (LLC). Each country offers multiple entity types — this page compares the primary types side by side. Tax, formation cost, banking, and visa data from our verified database. See country pages for all entity options.
Side-by-side comparison
| Metric | Private Company Limited by Shares (LTD) | Limited Liability Company (LLC) |
|---|---|---|
| Entity type | LTD | LLC |
| Corporate + state/local tax | 15.0% | 15.0% |
| Formation cost | $380 | $37 |
| Annual maintenance | $22 | $0 |
| Formation timeline | 5-10 business days | 1-2 business days |
| Minimum capital | 0 USD | 0 USD |
| Local director | Not required | Not required |
| Business banking | Opening a traditional corporate bank account in Cyprus is notoriously rigorous and can take 3 to 6 weeks due to strict AML/KYC regulations. Banks typically require proof of local economic substance, such as a physical office and a resident director. For faster, remote-friendly alternatives, many founders opt for EMI fintechs like Revolut Business or wamo. · 3 remote-friendly bank(s) | Opening a corporate bank account in person is extremely fast, often taking just 1-2 days at major banks like TBC or Bank of Georgia. Remote opening via Power of Attorney is possible but faces stricter KYC/AML compliance checks and may take several weeks. · 2 remote-friendly bank(s) |
| Visa / residency | 3 options (Cyprus Startup Visa, etc.) | 3 options (1-Year Visa-Free Regime, etc.) |
| Ease of business rank | #54 | #7 |
Highlighted cells indicate a lower tax, cost, or better rank where applicable.
Frequently asked questions
Which is cheaper to form: Cyprus (LTD) or Georgia (LLC)?
Georgia (LLC) has lower formation costs. Compare annual fees in the table above.
Which has lower corporate tax?
Headline rates are close (15.0% vs 15.0%). Use our simulator to model your scenario.
Which is easier for remote business banking?
Cyprus (LTD): Opening a traditional corporate bank account in Cyprus is notoriously rigorous and can take 3 to 6 weeks due to strict AML/KYC regulations. Banks typically require proof of local economic substance, such as a physical office and a resident director. For faster, remote-friendly alternatives, many founders opt for EMI fintechs like Revolut Business or wamo. · 3 remote-friendly bank(s). Georgia (LLC): Opening a corporate bank account in person is extremely fast, often taking just 1-2 days at major banks like TBC or Bank of Georgia. Remote opening via Power of Attorney is possible but faces stricter KYC/AML compliance checks and may take several weeks. · 2 remote-friendly bank(s).
How do I choose between Cyprus and Georgia?
Start by picking the right entity type (LTD, LLC, sole trader, etc.) — each country page lists all options. Use our formation advisor and tax simulator for personalized guidance.