A Cypriot company can usually own up to 100 percent of an Indian private limited company under the automatic route, subject to sectoral caps, unless its beneficial owners are from a land-border country, in which case government approval is needed. The company needs at least two directors, one resident in India, and investment must be reported in Form FC-GPR within 30 days.
- Document route
- Cypriot certifying officer and apostille, or Indian High Commission attestation
- Time difference
- IST is 2h30 ahead of Cyprus in summer and 3h30 in winter
- Law
- Companies Act 2013, FEMA 1999, NDI Rules 2019
- Minimum
- 2 directors, 2 shareholders
Company Setup for Foreigners from Cyprus: how it works
We check the ownership chain up to the ultimate beneficial owners, confirm the route, and handle incorporation, PAN, TAN, bank account, receipt of capital and FC-GPR. Cypriot corporate documents are apostilled.
After incorporation, we set up compliance under the Companies Act, FEMA and the Income-tax Act, including transfer pricing for dealings with the Cypriot parent and the documentation needed to support treaty claims.
We also advise on whether substance in Cyprus is sufficient for treaty benefits under the principal purpose test.
If the Cypriot company is itself owned by investors from several countries, we check the ownership chain for any land-border country beneficial owner, since that alone triggers the approval route.
What clients in Cyprus should know
- Check beneficial ownership before investing.
- Plan transfer pricing early.
- Maintain substance in Cyprus for treaty claims.
Step by step from Cyprus
Video consultation
A call at a time that suits Cyprus, after we have read your documents.
Documents signed in Cyprus
Cypriot certifying officer and apostille, or Indian High Commission attestation
Work in India
Our team files, appears and follows up in India, and shares scans of everything filed.
Result and handover
Certified copies and originals are couriered to you in Cyprus where needed.
The full guide
This page covers what changes when you are in Cyprus. For the law, the documents and the step-by-step procedure, read our main page on Company Setup for Foreigners, or see all services for clients in Cyprus and the Doing Business in India practice area.
Questions from clients in Cyprus
Do Cypriot companies need approval to invest?
Usually not, unless beneficial owners are from a land-border country.
Can treaty benefits be denied?
Yes, under the principal purpose test, if the structure lacks commercial purpose.
How long does incorporation take?
Often two to four weeks once documents are ready.
One of our investors is from China. Does that matter?
Yes, if they are a beneficial owner, government approval is needed.