Short answer
A Cyprus private company limited by shares is formed under the Companies Law, Cap. 113 with the Department of Registrar of Companies and Intellectual Property. There is no general minimum capital, but a company seeking an online (Class B) license under the Betting Law of 2019 (L. 37(I)/2019) must have betting as its main activity and at least €500,000 issued and paid-up share capital. Corporate income tax is 15% from 1 January 2026. Online casino and poker cannot be licensed in Cyprus.
Cyprus company formation at a glance
- Entity type
- Private company limited by shares (Ltd)
- Governing law
- Companies Law, Cap. 113, as amended
- Registry
- Department of Registrar of Companies and Intellectual Property (companies.gov.cy)
- Minimum capital
- None in company law (nominal €1,000 is common); €500,000 issued and paid-up for a betting licensee
- Shareholders
- 1 to 50 for a private company; individuals or corporate bodies of any nationality
- Directors
- At least 1, plus a company secretary
- Local resident requirement
- No statutory resident director; Cyprus tax residence depends on management and control being exercised in Cyprus
- Registered office
- Cyprus registered office required; filings prepared and signed by a Cyprus-licensed lawyer
- Corporate tax
- 15% from 1 January 2026 (previously 12.5%)
- UBO register
- Beneficial owners filed with the Registrar of Companies register
- Accounts/audit
- Annual financial statements; audit required (a review option for very small companies is not realistic for a licensee holding €500,000 capital)
- Time to incorporate
- About 1–4 weeks (indicative): name approval in days, registration 3–4 weeks standard or about 1–2 weeks expedited
What the gambling regulator expects of the company
- Applicant must be a company limited by shares, incorporated in Cyprus or abroad (complying with Part VIII of Cap. 113), whose main activity is the management of betting (Betting Law 2019, art. 32(1)).
- Issued and paid-up share capital of at least €500,000 (art. 32(1)).
- Bank guarantee from a credit institution, valid until six months after the license expires; the NBA may require it to be increased to cover 10% of annual turnover (art. 32(2)).
- Backup server located in Cyprus, connected in parallel to the main server, and betting offered only on a .com.cy website (arts. 32(3) and 68).
- Beneficial owners, officers and holders of significant interests are vetted for criminal record, financial standing and suitability (arts. 18, 19 and 33).
- Class B covers online betting only: online casino games and slot machines are excluded, so the company cannot hold an online casino license.
License fees, process and documents: Cyprus online betting license.
Which Cyprus entity to use
| Vehicle | Use it for | Notes |
|---|---|---|
| Private company limited by shares | The standard vehicle for a Class A or Class B betting license applicant | Must have betting as its main activity and €500,000 issued and paid-up share capital before applying. |
| Registered branch of a foreign company | Existing EU or foreign operator that prefers not to form a subsidiary | The 2019 Betting Law allows a company incorporated abroad that complies with Part VIII of Cap. 113 (overseas companies); the parent must still meet the capital and main-activity tests. |
| Holding company (Cyprus Ltd) | Holding the licensee or other group entities | Not a licensee itself; owners and controllers are still reviewed by the NBA. |
How to incorporate in Cyprus
- Week 1
Structure and name
Agree shareholders, directors and secretary; reserve the name with the Registrar.
- Weeks 1–2
Constitutional documents
Lawyer prepares the memorandum and articles with betting as the main object, plus forms HE1, HE2 and HE3.
- Weeks 2–4
Registration
File with the Registrar (standard or expedited) and receive the certificate of incorporation.
- Weeks 4–6
Post-incorporation
Tax registration, UBO filing, VAT if applicable, and Cyprus bank account.
- Weeks 4–8
Capital and guarantee
Pay up at least €500,000 and arrange the bank guarantee commitment.
- Week 8 onward
NBA application
File the license application; the company is then reviewed alongside its owners and officers.
Documents you will need
- Certified passports and proof of address for shareholders, directors and UBOs
- Name approval and memorandum and articles of association
- Forms HE1 (application), HE2 (registered office) and HE3 (directors and secretary)
- Corporate documents, apostilled, for any corporate shareholder
- Source-of-funds and source-of-wealth evidence for the €500,000 capital
- Bank reference letters and CVs for directors and key persons
- Criminal-record certificates for owners and officers (for the NBA)
- Ownership chart showing all beneficial owners
Tax
- Corporate income tax
- 15% from 1 January 2026
- Special defence contribution on dividends
- Reduced from 17% to 5% for tax-resident, domiciled individuals; deemed dividend distribution abolished for profits from 2026
- Stamp duty
- Abolished from 1 January 2026 (documents signed before then follow the old rules)
- Annual company levy
- The €350 levy was abolished from 2024; older arrears remain payable
- Betting tax and levies
- About 13–14.5% of net betting revenue in total (see the license page)
Annual upkeep
Annual return
Form HE32 filed with the Registrar after the annual general meeting.
Financial statements
Prepared and audited each year and filed with the annual return.
Tax return
Annual corporate income tax return; provisional tax payments during the year.
UBO register
Keep beneficial-ownership information current with the Registrar.
Betting obligations
Monthly betting tax and levies, NBA reporting and license renewal every 1 or 2 years.
Banking and payments
Cyprus banks apply strict due diligence to gambling businesses and non-resident owners, and opening an account can take weeks. A licensed betting operator needs a local account in practice, and the bank guarantee must come from a credit institution, so early contact with the bank is essential.
How we prepare the underwriting file: payments and banking.
Mistakes to avoid
- Incorporating with a general-trading object: the licensee must have betting as its main activity.
- Planning an online casino product: Cyprus does not license it.
- Treating the €500,000 as authorized capital only: it must be issued and paid up.
- Relying on directors outside Cyprus without considering where management and control, and therefore tax residence, actually sit.
- Leaving bank onboarding and the guarantee until after incorporation.
Cyprus compared
| Cyprus | Anjouan | Nevis | Costa Rica | Canada | |
|---|---|---|---|---|---|
| Usual vehicle | Private Ltd (Cap. 113) | IBC | Corporation or LLC | S.A. or S.R.L. | Corporation (CBCA, OBCA, BCA) |
| Minimum capital | €500,000 paid-up (licensee) | None published | None | None | None |
| Local requirement | No resident director; CY office | Agent only | Agent + Reporting Officer | Resident agent, office | CBCA 25% resident directors; ON/BC none |
| Corporate tax | 15% CIT | 0% (IBC) | 0% if non-resident | 30% local; Law 9050 | 26.5% (ON) · 27% (BC) |
| Time | 1–4 weeks | ≈ 1 week | A few days | 1–2 weeks + permit | Days (online) |
Every formation jurisdiction side by side: company formation for gambling licenses. Licenses compared: gambling license jurisdictions. How we work: gambling consulting services.
What we do
Before you incorporate
We check that the entity, ownership chain and tax position will pass the regulator and the bank, and model the year-one cost.
Formation and registered office
We prepare the documents and coordinate incorporation, registered office and tax registration through licensed local agents and counsel.
Banking
We prepare the underwriting file and introduce banks, EMIs and PSPs that work with gambling businesses in Cyprus.
The license
We prepare and file the Cyprus online betting license and stay on for renewals and reporting.
Cyprus company formation — FAQs
Do I need a Cyprus company for a Cyprus betting license?
The applicant must be a company limited by shares, incorporated in Cyprus or abroad. A foreign company must comply with the overseas-company provisions of Cap. 113. Either way, betting must be its main activity and it needs €500,000 paid-up share capital.
What is the minimum share capital?
Cyprus company law sets no minimum, but a betting license applicant needs at least €500,000 issued and paid-up share capital under the Betting Law of 2019.
Does a Cyprus company need a Cyprus-resident director?
There is no statutory requirement. In practice, Cyprus tax residence depends on management and control being exercised in Cyprus, so many groups appoint local directors with real authority.
What is the Cyprus corporate tax rate in 2026?
Corporate income tax rose from 12.5% to 15% from 1 January 2026, under the tax reform published in December 2025.
How long does incorporation take?
Typically about one to four weeks, depending on name approval and whether expedited registration is used. Banking and the license itself take longer.
Can a Cyprus company hold an online casino license?
Not from Cyprus. The NBA licenses online betting only; online casino games are excluded. See our Cyprus license page.
Sources
Checked against the sources below on 9 October 2026. Registry fees, tax rates and filing rules change; confirm with us before you incorporate.
Set up the right Cyprus company the first time
An entity that the regulator, the bank and the tax authority will all accept. We screen the structure first, then incorporate, open accounts and file the license.
Book a feasibility call