Cyprus Nominee Services Explained: Privacy, Compliance and International Tax Considerations

(real client enquiry)

Dear CYAUSE,

I am planning to incorporate a Cyprus Limited (Ltd.), where my name does not appear in public registers. I accept full tax liability in Germany.

My requirements for the company are:

• Nominee Director – please specify rights, obligations, and contractual arrangements
• Nominee Shareholder (optional) – trust or agreement details
• Registered Office / Company Secretary
• Accounting, Annual Financial Statements & Compliance Support
• Bank Account Assistance / Documentation (if available; I may use Revolut)

Please provide:

1. Detailed cost breakdown for incorporation and ongoing services
2. Contracts / Limited POA / trust agreement details
3. Required documentation from my side (ID, proof of residence, citizenship info)
4. Confirmation of legal and regulatory compliance for your nominee services

For reference, I am a dual citizen of Germany and the United States, my business will be IT consulting and software development, with an aim to develop products and services to be offered as well, initially in Germany but with a long-term view towards a worldwide presence.

I would greatly appreciate receiving a proposal for a discreet, legally compliant incorporation, including ongoing administration.

Thank you very much for your time and I look forward to your reply.

Best regards,

Dear Client, 

Nice to e-meet you and thank you for your interest in our services. 

Below you will find our quotation with regards to the services you are interested in:

• Incorporation of a Cypriot Company: EUR 650 + VAT + Disbursements  (one-off)    Disbursements are approx. EUR 600  Timeframe: 3-4 weeks from the submission date 
• One-off mandatory services (registration with the tax, UBO declaration for the first time, e-filing access codes for the Cyprus registrar etc): EUR 400 + VAT (from 550 + VAT)   (one-off)  Timeframe: 2 weeks from the submission date (the company must be incorporated first)   
• Opening of a Cypriot corporate bank account (optional): EUR 900 + VAT  (one-off)  Timeframe: 4 weeks from the submission date (the company must be incorporated first)      
• Nominee Services: EUR 2,100 + VAT per annum for the provision of Director, Secretary and Registered Office. Additional EUR 500 + VAT per annum will be added for the provision of a nominee shareholder. **
• Contracts / Limited POA / trust agreement details: The cost depends on complexity and time spent 
• Accounting and Audit services (annual maintenance including filings, compliance etc): Here you can find our indicative costs for your reference. I can prepare a draft agreement for your reference where I can include all the mandatory annual services based on your needs (more information is needed for this point such as number of invoices & involved countries, number of transactions, number of employees & bank accounts etc). 

*All the above include the gain of online access to the various governmental platforms, correspondence with the governmental authorities, all the in-person visits, the procedure of tax sealing etc. 

**The director is responsible to ensure compliance with all the obligations of the company (including the settlement of taxes in due time and relevant submissions to the authorities etc). The director will also be the signatory as well as the responsible person for all the legal matters. 

With regards to the provision of a nominee shareholder, it is important to mention that the Ultimate Beneficial Owner is submitted to the Cyprus Registrar of Companies. This means that the UBO will not be available to the public but the Cyprus registrar will be informed.  

Additional points for clarifications:

1. The company will have zero employees Please confirm 
2. You will not visit Cyprus (i.e. you will not need the non-domiciled status or residence permit). Please confirm 

Required documents:

To commence with the onboarding process we will need the below:

• ID and Passports 
• Recent Utility bill showing place of residence (or proof of address) 
• A recent CV 

More documents and information will be requested at a later stage. 

We can have a short call in order to meet and get into the details if you wish. 

At your disposal, 

Kind regards, 

Dear CYAUSE,

Thank you very much for checking up on my request.

My plan itself has not really changed. However, I am a dual citizen of Germany and the USA, and I have since learned about the added complexities of this, and also the possibility of my company being classified as a PFIC, and all tax implications.

I am OK dealing with this, but the start of my company is not the best time to deal with this. I am now going ahead and start as a 'Einzelgewerbe' in Germany. And once I have stable revenue I will re-visit this plan.

Thank you very much for your help!

Kind regards,

Dear Client, 

Thank you for letting us know these details, I understand how the situation is. 

Feel free to reach out to me once you are ready to take next steps in Cyprus etc. 

Wishing you the best, 

Kindest regards,