Who can open a company in Cyprus?

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.

How much does it cost to set up a company in Cyprus?

The cost of registering a company in Cyprus costs $1995 but from the second year, it will cost $1990.

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.

Why do people open companies 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.

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Is it easy to start a business in Cyprus?

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.

What is the best business to start in Cyprus?

Business Opportunities in Cyprus

  1. Construction Company. The government of Cyprus provides substantial support to individuals looking to start a company in the construction business. …
  2. Education Consultancy. …
  3. Property Rental Market. …
  4. Tourism. …
  5. Shipping Industry. …
  6. Transportation Business. …
  7. Insurance Brokerage Company.

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.

Is Cyprus good for 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 do I open a limited company in Cyprus?

The following steps must be completed in order to open an LTD in Cyprus:

  1. reserve a trading name (the shareholders must make sure the name is unique);
  2. draft the incorporation documents;
  3. set up the corporate bank account and deposit the share capital;
  4. 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.

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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 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 can I start a small business in North Cyprus?

To open a company in Northern Cyprus:

Provide a certificate of good conduct of all members of the company. Suggest a few names for the company. According to laws of Northern Cyprus the name of a company must be unique, and cannot include certain words. Certain amount for the company must be deposited in a local bank.

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