| Set Up Fees
| UK£’s
| Euros
|
| Basic SCF incorporation fee |
£475.00 |
€550.00 |
| This includes non-expedited company registration at the Companies Registry,
copy Memorandum & Articles of Association, payment of company duty and legal fees |
| Corporate Secretarial Fee (Structuring) |
£50.00 |
€60.00 |
| Basic Annual Fees |
| Annual Domiciliation Fee |
£700.00 |
€825.00 |
| Annual Statutory Compliance Fee |
£150.00 |
€175.00 |
| Annual Return Filing Fee |
£135.00 |
€160.00 |
| Disbursements (Basic) |
£85.00 |
€100.00 |
| Indicative 1st Year Fees |
£1,595.00 |
€1,870.00 |
| Indicative 2nd Year Fees |
£1,070.00 |
€1,260.00 |
Notes in respect to the aforementioned quotations
- Administrative and management fees are not included and will be negotiated separately depending on the purpose and nature of the company, although it should be noted that actively trading companies will require day-to-day management in Cyprus;
- Accountancy, VAT management, payroll, legal and day-to-day company secretarial services are not included in this quote, but all such services can be provided by our Accountancy, Legal and Management Divisions;
- The above fees exclude Cypriot VAT at 15% but such payments can be recovered where a company is fully managed and trading
- Should a Cypriot company no longer be required then, subject to our terms and conditions, there will be a minimum termination/dissolution fee of £600.00 or €750.00. Should a Client want to transfer a company to another agent then professional fees will be charged per our terms and conditions and professional fee schedules with a minimum fee of £600.00 or €750.00 being chargeable.
- The SCF Group reserves the right to amend its fees at anytime and without notification
- Clients are advised to read our terms and conditions @ http://www.scfgroup.com/General_Terms_And_Conditions/
Other Services available through the SCF Group:
The SCF Group is a fully licensed company and trust management firm owned and operated by UK qualified lawyers and accountants and can provide a full range of tax planning services including the provision of tax planning legal opinions, tax and accountancy consultancy, day-to-day accountancy, payroll and VAT management services, advice on tax treaties and applicable anti-avoidance provisions, asset protection, private interest foundations and trusts. Services that are most often employed at the time of incorporation include:
- Provision of Corporate Directors and Shareholders (Consultancy and Passive Companies) – Local Corporate Directors are often an essential requirement if genuine Cypriot management and control is to be established especially if a company is actively trading or involved in consultancy work. It is always recommended that clients speak with one of our trained tax planning consultants to identify what kind of structure would best meet their legal requirements and ensure that full and legally safe benefit can be taken from the Cypriot corporate tax rate of only 10%. The minimum fee the SCF Group charges for the provision of Directors, Secretary and if required Shareholders is £750.00 / €885.00 but this very much depends on the nature of the company, the complexity of the business, turnover, specialist advice required (if any) and qualifications of officers required – If Lawyers and/or Chartered Accountants are required these will generally be charged out at a higher rate. The Minimum Annual Fee for the provision of Corporate Officers is - £750.00 / €885.00.
- Management and Control (3rd Party Trading Companies) – Trading companies will undoubtedly require full and proper local management and control if they are to avail of the beneficial tax treaty provisions applicable in Cyprus or indeed the ability to forward dividends from another European Union country without the application of standard withholding taxes per EU Directive 90/435. Under most tax treaties there must also be a local tax resident as a Director, which, of course, SCF can provide. In most cases, a Management Agreement will be required which is negotiated to best suit the needs of a client and to provide – very importantly – proof that proper external management and control is exercised independently of the client and/or beneficial owner. At a basic level this service need not be that expensive and includes an extensive management agreement, a local UK qualified Chartered Accountant as the fiscally resident director, a second local director, a local telephone number, local facsimile number plus a local .cy website/domain and email address ALL VITAL TO SHOW THAT YOUR COMPANY IS BASED IN CYPRUS. The annual fee for the provision of this service (excluding professional and administrative time) starts from £1,500.00 / €1775.00 p.a.
- Accountancy & Banking - All trading companies (for these purposes this includes consultancy as well as 3rd party trading companies) will require accountancy transactions which need to be recorded and maintained by qualified accountants. SCF Fees are as follows:
Bank Account Opening (Basic) £375.00 / €445.00
Bank Account Opening (Online facilities and Debit Card) £475.00 / €575.00
Initial VAT Registration £325.00 / €385.00
Minimum Accountancy Deposit £750.00 / €885.00
(Additional work will be charged on a time and disbursement level – VAT returns are charged at a minimum of £235.00 / €275.00 per quarter)
- Trust and Private Interest Foundation Services – Trusts and private interest foundations (Stiftungs in Liechtenstein or Switzerland) can provide many potential benefits including breaking the link between the creator (beneficial owner) of a company and the assets held by the company. Depending on circumstances such structures can protect assets from 3rd parties, reduce exposure to inheritance and capital gains taxes, assist in pre-nuptial planning and of course perform in their traditional guise of acting as a de facto will. The SCF Group always recommends that all clients establish either a ‘letter of wishes’ or a proper trust/foundation as extra security. Please contact a SCF Consultant for additional information.
