Registering a Company with Foreign Participation in Cyprus: How BFU Works
A separate registration with the Business Facilitation Unit, without which a Cyprus company with foreign shareholders cannot hire non-EU nationals
Registering a legal entity in the Cyprus Registrar of Companies is only the first step. If the shareholders include non-EU nationals and the company plans to hire foreign staff, it needs a separate registration with the Business Facilitation Unit (BFU), a unit of the Ministry of Energy, Commerce and Industry that has served as the one-stop shop for companies with foreign participation since 1 January 2022.
We explain which companies meet the BFU criteria, which documents are required and how long the process takes, based on official data from the government portal businessincyprus.gov.cy.
Why BFU registration is needed
BFU is a one-stop shop that combines several procedures: name approval and company registration together with the Department of Registrar of Companies and Intellectual Property (DRCIP), employer registration with the Social Insurance Services, and tax registration (VAT and direct taxes). Separately, BFU registers the company in the Register of Companies of Foreign Interest, and it is this registration that is passed to the Civil Registry and Migration Department and opens the possibility of hiring non-EU nationals.
Basic requirement: an investment of at least €200,000
A general condition applies to all categories of company: a confirmed investment in Cyprus of at least €200,000. It can be confirmed in one of two ways:
- a deposit in the company’s account at a credit institution licensed by the Central Bank of Cyprus (payment institutions do not qualify); it can be made by one shareholder or by several in total;
- cheques, invoices or receipts for office premises, equipment or machinery issued in the company’s name.
The investment must be made no earlier than 6 months before the application date.
Who qualifies: 9 categories of company
A company meets the BFU criteria if it falls into at least one of nine categories:
Which documents are needed
The application is accompanied by a Letter of Intent (company profile, activities under the articles, number of staff, expansion plans) and the following set of documents:
- Certificate of Incorporation, signed and certified by DRCIP
- Certificate of Registered Office Address, signed and certified by DRCIP
- Directors’ Certificate, signed and certified by DRCIP
- Shareholders’ Certificate, signed and certified by DRCIP; if a shareholder is a legal entity, a full ownership chart up to the ultimate beneficiaries is also required
- UBO Search Certificate: a current extract on beneficial owners from DRCIP, obtained through GOV.CY
- Valid passports of the ultimate beneficial owners
- Articles of Association, signed and certified by DRCIP
- Document for the office premises: a title deed, sale and purchase agreement, or a lease for at least 12 months. The premises must be separate from residential premises; subletting and shared offices are allowed if all parties and addresses are stated. A lease of €5,000 a year or more must be stamped
- Latest audited financial statements, for companies already operating
- Tax Clearance Certificate, for companies already operating
- Confirmation of a deposit of €200,000 or more: SWIFT or equivalent; purchases of office space or equipment for that amount with receipts also count, as does a €200,000 capital increase with a document confirming the transaction
How registration works
- Submitting the application. The BFU electronic form with the Letter of Intent and the full set of documents.
- Confirmation of receipt. BFU sends a confirmation by email and then notifies you of any change in the application status.
- Review. If the company meets the criteria and the documents are in order, registration is completed within 10 working days of submitting the form.
- Confirmation of registration. BFU sends an official confirmation letter by email.
Two points most often come as a surprise to new clients. First, the €200,000 investment cannot be confirmed retroactively: it must be made no earlier than 6 months before the application, so timing should be planned in advance.
Second, the office must be legally separate from residential premises: a lease for an apartment with a “work corner” does not meet BFU requirements. A separate document for commercial premises is needed, even if it is a small shared office.
BFU contacts
Address: Business Facilitation Unit, Ministry of Energy, Commerce and Industry, Trade Service Building (3rd Floor), 10 Andrea Araouzou Str., 1421 Nicosia. Phone consultations are available only from 10:00 to 12:00. For questions on registration policy, contact Katerina Solomou (+357 22867193); for registration itself, contact Ioannis Heracleous (+357 22867275).
Not sure whether your company meets the BFU criteria?
We will check which category your business falls into, help you collect the documents and submit the application without unnecessary rounds with BFU.
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This material is based on the official Business Facilitation Unit page on the government portal businessincyprus.gov.cy as of October 2026 and is for information only. Requirements may change: before applying, check the current version of the page or confirm the details with us.
