Public Company Limited by Shares (PLC) in Cyprus

Public Limited Company · Formation from $180

Last verified: June 13, 2026

Corporate Tax

15.0%

State Tax

0.0%

Formation Cost

$180

Annual Fee

Comparison Scores

Privacy, remote setup, banking, and tax efficiency

Privacy2/10

Remote Setup7/10

Banking8/10

Tax Efficiency9/10

Overall Score7/10

Calculate full formation cost

Break down one-time filing fees and recurring costs for any supported entity type.

Who Should Choose This?

Profiles that typically benefit from this entity

Companies planning to go public or list on a recognized stock exchange like the CSE.
Large-scale investment funds or holding companies raising capital from a broad investor base.
Established international businesses seeking a reputable EU base with favorable tax treaties.
Tech and IP-heavy companies looking to leverage the Cyprus IP Box regime at scale.

Who Should Avoid This?

Scenarios where another structure may be better

Solo entrepreneurs or small startups with limited initial capital.
Founders seeking maximum privacy, as PLC directors and shareholders are on public record.
Businesses looking for a low-maintenance, low-cost corporate structure.

Advantages

+Access to public capital markets and the ability to list on the Cyprus Stock Exchange (CSE) or other EU exchanges.
+Highly competitive 15% corporate tax rate with a 2.5% effective rate on qualifying IP income.
+Full access to EU directives and a broad network of over 60 double tax treaties.
+No withholding tax on outbound dividends, interest, and royalties for non-residents (subject to EU blacklist rules).
+Shares are freely transferable, making it easier to attract institutional investors and venture capital.
+0% tax on profits from trading in shares and securities.

Disadvantages

-High minimum share capital requirement of €25,629, which must be fully paid up before commencing business.
-Strict regulatory and compliance burden, requiring at least 7 shareholders and 2 directors.
-Mandatory requirement to appoint a resident company secretary and maintain a local registered office.
-Mandatory annual financial audits and public disclosure of financial statements.
-Higher formation and ongoing maintenance costs compared to a Private Limited Company.

Formation Steps

Obtain approval for the proposed company name from the Cyprus Registrar of Companies.

Draft the Memorandum and Articles of Association (MAA) tailored for a Public Limited Company.

Deposit the minimum share capital of €25,629 into a corporate bank account.

Appoint at least two directors and a Cyprus-resident company secretary.

Submit the incorporation documents, including the MAA and details of directors/shareholders, to the Registrar.

Obtain the Certificate of Incorporation, along with certificates for directors, secretary, and registered office.

Obtain a trading certificate from the Registrar before commencing business operations or exercising borrowing powers.

Cost Breakdown

Detailed breakdown of formation and ongoing costs

Item	Type	Amount
State filing fee (Registrar of Companies)	One-time	$200
Legal & Professional Formation Fees	One-time	$1,800
Registered Office & Local Secretary	Annual	$1,000
Tax & VAT Registration	One-time	$300
Annual Government Levy	Annual	$385
Annual Accounting & Audit (Estimated)	Annual	$3,000
First year total		$3,300
Annual ongoing		$4,385

Real-World Examples

Typical use cases for this entity type

Bank of Cyprus Public Company Limited - A major financial institution listed on the CSE and LSE.
ASTARTA Holding PLC - An agricultural holding company that converted to a Cyprus PLC to benefit from the jurisdiction's corporate framework.
A large European tech firm establishing a Cyprus PLC to consolidate its intellectual property and prepare for an IPO.

Common Mistakes

Pitfalls to avoid during setup and operations

Failing to pay up the €25,629 minimum share capital before starting operations.
Overlooking the requirement to obtain a trading certificate before commencing business.
Underestimating the high ongoing compliance, accounting, and audit costs.
Not appointing a qualified, Cyprus-resident company secretary, leading to compliance failures.
Missing the June 30th deadline for the €350 annual government levy, incurring penalties.

Other entity types

Other formation options in Cyprus

Private Company Limited by Shares (LTD)

Primary

Tax: 15.0%
Formation: $380

Branch of an Overseas Company

Tax: 15.0%
Formation: $410

General Partnership

Tax: 0.0%
Formation: $130

Limited Partnership

Tax: 15.0%
Formation: $140

Sole Proprietorship

Tax: 0.0%
Formation: $100

Company Limited by Guarantee

Tax: 15.0%
Formation: $265

Variable Capital Investment Company (VCIC)

Tax: 15.0%
Formation: $180

Compare with Other Countries

Country / Type	Tax	Formation	Annual
🇨🇾 Public Company Limited by Shares (PLC)(Public Limited Company)	15.0%	$180	$0

🇨🇾 vs 🇺🇸 United States 🇨🇾 vs 🇪🇪 Estonia 🇨🇾 vs 🇬🇧 United Kingdom 🇨🇾 vs 🇮🇪 Ireland All comparisons →

FAQ

What is the minimum share capital for a Cyprus PLC?

The minimum authorized and issued share capital is €25,629, which must be fully paid up before the company can commence business.

How many shareholders and directors are required?

A Cyprus Public Limited Company requires a minimum of 7 shareholders and at least 2 directors.

Can a Cyprus PLC be 100% foreign-owned?

Yes, there are no restrictions on foreign ownership. A Cyprus PLC can be 100% owned by foreign individuals or corporate entities.

What is the corporate tax rate for a Cyprus PLC in 2026?

As of 2026, the standard corporate income tax rate is 15%, aligned with the OECD global minimum tax rules.

Are audits mandatory for a Cyprus PLC?

Yes, all Cyprus Public Limited Companies must submit annual audited financial statements prepared by a licensed local auditor.

Can I form a Cyprus PLC remotely?

Yes, the formation process can be handled entirely remotely through a licensed corporate service provider or lawyer in Cyprus.

Is a local company secretary required?

Yes, it is a mandatory legal requirement to appoint a company secretary who is a resident of Cyprus.

What is the annual government fee?

All Cyprus companies must pay an annual government levy of €350 by June 30th of each year to remain in good standing.

Detailed Tax Rates

Corporate Income Tax

From	To	Rate

As of January 1, 2026, the corporate income tax rate in Cyprus increased from 12.5% to 15% to align with the OECD Pillar Two global minimum tax. However, Cyprus retains a highly competitive regime with an effective tax rate of 2.5% on qualifying IP income and full exemptions on dividend income.

Personal Income Tax (Top rate: 35.0%)

From	To	Rate
$0	$22,000	0.0%
$22,001	$32,000	20.0%
$32,001	$42,000	25.0%
$42,001	$72,000	30.0%
$72,001	No limit	35.0%

The 2026 tax reform increased the tax-free threshold from €19,500 to €22,000. Non-domiciled tax residents are exempt from income tax on dividends and interest, paying only a 2.65% General Healthcare System (GHS) contribution.

Capital Gains Tax

20.0%

Capital gains tax is levied at 20% exclusively on gains from the disposal of immovable property situated in Cyprus, or shares in unlisted companies that own such property. Gains from the sale of other shares and securities are fully exempt.

VAT / GST

19.0%

Registration Threshold: EUR15,600

Cyprus applies the standard 19% VAT rate to digital services provided to local consumers. Non-EU providers of digital services must register for VAT under the OSS scheme or locally.

Withholding Tax

Dividends0.0%

Royalties0.0%

Interest0.0%

Cyprus generally does not levy withholding tax on dividends, interest, and royalties paid to non-residents. However, as of 2026, defensive measures apply withholding taxes (up to 17%) on payments to entities in EU-blacklisted or low-tax jurisdictions.

Payroll & Social Security

Employer15.4%

Employee11.5%

For 2026, the total employer contribution is approximately 15.4% (8.8% Social Insurance, 2.9% GHS, plus Redundancy, Social Cohesion, and Training funds). Employees contribute 11.45% (8.8% Social Insurance and 2.65% GHS). Social insurance contributions are capped at an annual salary of €66,612.

Other Taxes

Special Defence Contribution (SDC)

SDC is imposed on dividend (5% as of 2026, reduced from 17%) and interest income (17%) for individuals who are both Cyprus tax resident and Cyprus domiciled. Non-domiciled residents are exempt.

Stamp Duty

Stamp duty is levied on documents relating to property situated in Cyprus or matters to be executed in Cyprus. Rates range from 0.15% to 0.20% depending on the contract value, capped at €20,000 per document.

Incentives & Support

Cyprus IP Box Regime

An 80% tax exemption on qualifying profits generated from intellectual property assets.

Reduces the effective corporate tax rate on qualifying IP income to as low as 3% (based on the 15% CIT rate).

Eligibility: Must own qualifying IP assets (patents, software) developed in Cyprus and meet the nexus fraction requirements.

Minds in Cyprus (Brain Gain Initiative)

A personal income tax incentive introduced in 2026 to attract skilled professionals and expats to Cyprus.

25% exemption on remuneration (up to €25,000 per tax year) for up to 7 years.

Eligibility: Professionals relocating to Cyprus for employment or business, who were previously working abroad.

Formation Requirements

Minimum Capital

EUR 25,629

The minimum authorized and issued share capital is €25,629, which must be fully paid up before the company can commence business.

Local Director

Not Required

While not legally required, appointing a majority of Cyprus-resident directors is essential to establish local management and control for tax residency purposes.

Registered Office

Required

Virtual office allowed. €300 - €1,000 per year

Notarization Required

Yes

Power of Attorney (Remote)

Required

Required if the company is being formed remotely by a local lawyer or corporate service provider.

Timeline

Standard: 5-10 business days days

Expedited: 1-3 business days days ($100)

Required Documents

1Certified passport copyApostille needed
2Recent utility bill (proof of address)Apostille needed
3Bank reference letter
4Detailed CV of directors and shareholders
5Signed statutory declaration (Form HE1)

Compliance & Reporting

Annual Filings

Annual Return (HE32) and Audited Financial Statements

Penalty: €50 one-off penalty plus €1 per day for the first 6 months, then €2 per day up to a maximum of €500.

Within 28 days of the Annual General Meeting (AGM)

Corporate Income Tax Return (TD4)

Penalty: €500 penalty for late submission of the TD4 and Summary Information Table (SIT).

January 31 of the second year following the tax year

Audit Requirement

Required

Mandatory for all Public Limited Companies regardless of annual turnover.

Accounting Standard

IFRS

Tax Return Deadline

January 31 of the second year following the tax year (e.g., 2026 return due Jan 31, 2028).

VAT Filing Frequency

Quarterly

Data Protection

Fully compliant with the EU General Data Protection Regulation (GDPR).

Banking & Payments

Bank of Cyprus

The largest traditional bank in Cyprus, offering comprehensive corporate services for PLCs, but requires extensive KYC and usually an in-person visit.

Hellenic Bank

A major local bank with strong corporate banking facilities tailored for large enterprises and public companies.

Revolut Business

Remote-friendly

A highly popular fintech choice for remote founders, offering multi-currency accounts, corporate cards, and fast digital setup.

Wise

Remote-friendly

Excellent for international PLCs needing low-cost cross-border transfers and multi-currency management without local substance requirements.

Payment Gateways

Stripe, PayPal, Braintree, Paddle, 2Checkout

Currency

EUR

Multi-Currency: Supported

Account Opening

Opening a corporate bank account for a Cyprus PLC can be a rigorous and time-consuming process due to strict EU AML and KYC regulations. Traditional banks often require in-person meetings, detailed business plans, and proof of local economic substance. However, non-resident founders can leverage remote-friendly fintechs like Revolut or Wise for a faster initial setup.

Practical Information

Timezone

UTC+2 (EET) / UTC+3 (EEST)

Business Language

Greek (Official) and English (Widely used in business)

Legal System

Common Law (based on English Common Law)

Ease of Doing Business

#54

IP Protection

Robust IP protection fully aligned with EU directives and WIPO standards. The Cyprus IP Box regime is highly attractive, offering an 80% tax exemption on qualifying IP profits.

Double Tax Treaties

68 countries

Notable treaties: United Kingdom, United States, United Arab Emirates, India, Germany, Singapore

Visa & Residency Options

Cyprus Startup Visa

Allows non-EU entrepreneurs to reside and work in Cyprus to establish and operate a startup with high growth potential, provided they meet capital and business plan criteria.

Permanent Residency by Investment

Grants permanent residency to non-EU nationals who invest at least €300,000 in Cyprus real estate or the share capital of a Cyprus company.

Business Facilitation Unit (BFU) Work Permits

Fast-track work permits for highly skilled non-EU nationals employed by foreign-interest companies operating in Cyprus.