It is quite easy to open a business in Cyprus and with the proper support, overseas businesspersons can have their own companies up and running in the littlest time possible.
Is Cyprus a good place to start a business?
Cyprus has a modern, free-market, service-based economy giving international investors and domestic businesses confidence to invest, grow and prosper. The tertiary sector of services is considered the backbone of the Cyprus economy and with a high income per capita, the consumer market is particularly strong.
How much does it cost to start a business in Cyprus?
The cost of registering a company in Cyprus costs $1995 but from the second year, it will cost $1990.
Why do companies set up in Cyprus?
The main reason why Cyprus has become a great attraction as a business location is the business-friendly tax system that offers many advantages to companies that are based in the country. The key benefit of a resident corporation is the uniform 12.5% corporate tax rate which is one of lowest in Europe.
What is a good business to start in Cyprus?
Top 10 Small Business Investment Opportunities in Cyprus
- Construction Company.
- Property Rental Business.
- Educational Consultancy Services.
- Clearing and Forwarding Business.
- Travels and Tours Company.
- Transportation Business.
- Auto Mechanic Workshop.
- Web Design and Web Hosting Business.
What is the most profitable business in Cyprus?
Maritime industry is one of the most successful export services with over 130 shipping companies. The country’s maritime capital, Limassol, is home to some of the world’s most influential names in shipping. Investing in this sector will bring more profits than any other sector.
Is Cyprus safe for business?
Cyprus has a comprehensive, modern and forward-looking legal and regulatory framework based on the principles of English Common Law. The country’s legal framework is widely recognized as a business-friendly and effective system that allows reliable and transparent business practices.
How long does it take to open a company in Cyprus?
It usually can take up to 10 working days to establish a new company in Cyprus. If time is of high importance, there are shelf companies available.
How do I go self employed in Cyprus?
Self-employment in Cyprus
Go to the Department of Labour and register your company name. In the same building, you can register for Social Insurance and get a Social Insurance Number. Next, use the name registration document and Soc.
How do I start an LLC in Cyprus?
The following steps must be completed in order to open an LTD in Cyprus:
- reserve a trading name (the shareholders must make sure the name is unique);
- draft the incorporation documents;
- set up the corporate bank account and deposit the share capital;
- file the documents with the Companies Register;
Can I work for a UK company and live in Cyprus?
Yes, sure you can provide services to any company and in any country of the world as long as you report your income in the UK (the country where you are a resident) and meet all your tax liabilities.
What is company tax in Cyprus?
Overview. The Cyprus tax regime is one of the most attractive in Europe for individuals, investors and businesses. It offers one of the lowest corporate tax rates (12.5%) and the country can boast of a network of more than 60 double taxation agreements.
How do I start a company in Cyprus?
Registering a company in Cyprus is relatively easy and faster than in many European countries. Cyprus Company registration itself begins with application for registering a company, to be submitted to the Registrar of Companies. Generally, the company will be registered within one week.