Cyprus Partnerships

Corporate Structuring in Cyprus

Cyprus Partnerships

Cyprus has been a member of the European Union since 2004, and a Eurozone member since 2008. Besides the inherent benefits of EU Membership, the country boasts a highly educated workforce and a stable political climate. 
Owing to its transparent regulatory framework, excellent infrastructure and effective tax system, Cyprus is internationally recognized as a business-friendly jurisdiction. Following a period of uncertainty due to exposure of local financial institutions to Greek debt, the Cyprus economy regained its pre-financial crisis vigour with a 2017 annual GDP growth of 3.9%.

Country Highlights

CAPITAL CITY: Nicosia LANGUAGES: Greek, Turkish, English
TIME ZONE: Eastern European Time Zone (UTC+02:00) CURRENCY: Euro €
TOTAL AREA: 9,251 km² POPULATION: 1,170,130
TAX SYSTEM: EU Approved DOUBLE TAX TREATY: Extensive double tax treaty network

Legal Basis

Cypriot partnerships are regulated by Partnerships and Business Law, CAP 116, of 1907 (the “Law”). The Law defines a partnership as “a relationship which subsists between persons carrying on business in common with a view of profit”. Although the Law recognises the legal relationship between the partners, it does not give partnerships separate and distinct legal personality. 
Pursuant to the Law a Cypriot partnership must satisfy three conditions: 

a) Firstly, a partnership must carry out a business. Under the Law that includes every trade, occupation or profession thus effectively covering any activity of a commercial nature. 
b) Secondly, a partnership must have the purpose of obtaining profit. 
c) Finally, a partnership must have at least two partners. Moreover, partnerships conducting banking activities cannot have more than ten members. 

A partnership may be constituted for a fixed or indefinite term.


  • No Legal Personality
  • Flexible Scope of Partner Liability
  • Tax Transparency
  • Low Maintenance Cost


  • Commercial Activity
  • Profit-Oriented
  • At Least 2 Partners
  • Cyprus ROC Registration
  • Partnership Level Bookkeeping

Process & Timeline

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