To start a new business in a foreign country needs proper planning and adequate capital. Cyprus is a member of the EU, so for other EU citizens, there is no restriction for people who want to be a self-employed person or start a business in Cyprus.
How can I start my own business in Cyprus?
submit the documents related to the company registration procedure with the Cyprus Companies House; register the company for taxation, VAT and social insurance and pension purposes; obtain the necessary business licenses which will allow the commencement of the economic activities.
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.
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.
Why are companies open 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 are the good business ideas?
What are the top businesses to start?
- Dropshipping business.
- Selling print-on-demand shirts.
- Sell digital products.
- Become a blogger.
- Sell freelance services.
- Create homemade products to sell online.
- Media (podcast, YouTube channels, etc.)
- Affiliate marketing.
Can a foreigner open a company in Cyprus?
Shareholder(s) of a Cyprus Company:
The minimum number of shareholders of a Cyprus Private Limited Liability Company is 1 and the maximum is 50. The shareholder may be natural or legal person. The is no restriction on nationality or residency. A company can be incorporated even on 100% foreign ownership.
What is the best business to start in Cyprus?
Business Opportunities in Cyprus
- Construction Company. The government of Cyprus provides substantial support to individuals looking to start a company in the construction business. …
- Education Consultancy. …
- Property Rental Market. …
- Tourism. …
- Shipping Industry. …
- Transportation Business. …
- Insurance Brokerage Company.
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.
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.
What is the tax rate in Cyprus?
Personal Tax rates.
|Taxable Income €19.501 – €28.000||Rate 20%||Amount €1.700|
|Taxable Income €28.001 – €36.300||Rate 25%||Amount €2.075|
|Taxable Income €36.301 – €60.000||Rate 30%||Amount €7.110|
|Taxable Income €60.000 – €100.000||Rate 35%||Amount €14.000|