It takes only 2–4 business days to register a new company in Cyprus. This was announced by Michalis Damianou, Minister of Energy, Trade, and Industry, in response to a parliamentary question from MP Ephraim Christou.
According to the minister, the ministry strives to process all fully completed applications within the specified timeframe. The speed depends on whether the applicant pays an additional fee for expedited registration. However, the complexity of the company’s legal structure should not, in and of itself, affect the processing time.
However, expedited registration does not mean that any business automatically receives the right to begin operations. For certain types of activities, prior approval from the relevant government agencies is required. In addition, the authorities conduct background checks on the founders, directors, and other individuals associated with the company.
How much does it cost to set up a company in Cyprus, and what documents are required?
According to the current fees set by the Cyprus Department of Companies and Intellectual Property, the standard government fee for company registration is 165 euros. For organizations without share capital, this fee increases to 235 euros. If the applicant wishes to expedite the process, an additional fee of 100 euros is required.
There is also a separate fee of 10 euros for approving the company name. Thus, for standard registration of a company with share capital, the basic government fees start at 175 euros, excluding legal fees and other possible expenses. To register, you will need:
an approved company name;
articles of incorporation and bylaws;
Form HE1—an application with a legally required declaration by a lawyer;
Form HE2—information about the company’s registered address;
Form HE3 — information about the initial directors and secretary.
For public companies, Form HE5 must also be submitted. A separate fee of 20 euros applies for its filing. Applications may be submitted electronically via the e-filing system or on paper in accordance with established procedures. Current forms and fees are published on the official website of the Cyprus Companies Registry.
However, for certain types of businesses, a single registration is not sufficient. Prior authorization from the relevant regulatory authority is required, in particular, for the following organizations:
medical and dental companies—from the relevant professional councils;
law firms—from the Legal Service of the Republic of Cyprus;
insurance and reinsurance companies—from the insurance supervisory authority;
regulated investment firms—from the Cyprus Securities and Exchange Commission (CySEC);
payment institutions, electronic money companies, and currency exchange offices—by the Central Bank of Cyprus;
educational institutions that use the words “university,” “college,” or “institute” in their names—by the Ministry of Education;
casinos and television and radio broadcasting companies—by the relevant government agencies;
wineries—by the Ministry of Agriculture.
Nonprofit organizations wishing to register without the words “Limited” or “Ltd” in their name require a separate authorization from the Minister of Energy, Trade, and Industry. Due to the additional procedures involved, such applications may take longer to process.
Who may be denied company registration in Cyprus?
Special checks are required for companies whose shareholders, directors, or secretaries include individuals subject to sanctions imposed by the European Union, the United Nations, or the United States.
In such cases, registration is possible only if the competent authority responsible for enforcing sanctions does not prohibit it. The minister clarified that U.S. sanctions are also taken into account, but they are not incorporated into Cypriot law in the same way as EU and UN restrictions.
Special attention is given to companies associated with Turkish citizens. According to Damianou, the relevant verification mechanisms have been in place for about 20 years. If a company has Turkish interests or its activities could potentially threaten the security of the Republic of Cyprus, the registrar must first obtain the opinion of the competent national authorities.
At the same time, the minister specifically emphasized that companies linked to Cypriots of Turkish origin are not subject to a significantly different document verification process. A refusal is possible if government agencies possess classified information indicating a threat to national interests or the country’s security.
Special rules also apply to civil servants. According to Article 65 of the Civil Service Law, civil servants may not become directors, secretaries, or shareholders of private or public companies without prior special permission from the Minister of Finance.
What legislative changes is Cyprus preparing?
The government is proposing to expand the powers of the Registrar of Companies in matters of national security. The bill amending the Companies Law No. 2 of 2026 was approved by the Council of Ministers on August 6, 2026, and submitted to Parliament on September 17, 2026. As of this writing, the bill is still under review by the parliamentary committee on energy, trade, industry, and tourism. If the amendments are adopted, the registrar will have the authority to:
reject applications for company registration;
refuse to accept certain documents;
remove already registered companies from the registry.
The grounds for such actions may include threats to national security, public order, the public interest, or the sovereignty of the Republic of Cyprus. The bill also provides for the option not to disclose the detailed reasons for a decision if the relevant information is of a sensitive nature. However, the company must be notified of the general grounds for the measure taken.
The initiative stems from the authorities’ concerns regarding companies with foreign ownership, including entities whose ultimate owners hold Turkish citizenship.
In this way, Cyprus aims to maintain attractive conditions for international business while simultaneously strengthening oversight of who registers companies, who owns them, and what activities they engage in. For most applicants, the procedure may take only a few business days; however, in some cases, the checks can significantly extend the processing time.