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.
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.
How can I start a small 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.
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.
How do I get permission to buy in North Cyprus?
The required documents for the permission application include a power of attorney, copies of identification, purchase permit application form and a police report from your country of origin showing your criminal records. The police report must be original and either in Turkish or English language.
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.
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.
Why Cyprus is 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 register a company in North Cyprus?
To open a company in Northern Cyprus:
Provide copies of the passports of all shareholders. 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.
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;
How do I get a business license in Cyprus?
In order to obtain a trading license in Cyprus, a company must also register with the Customs Authorities apart from the Trade Register. Also, for certain activities an EORI number is required. The documentation for obtaining a trading license is more complex, which is why it is advisable to ask for assistance.