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.

What do I need to start a business in Cyprus?

How to Start a Business in Cyprus?

  1. HE1 Form.
  2. HE2 Form.
  3. HE3 Form.
  4. Memorandum of Association.
  5. Articles of Association.
  6. Passport copy of Directors and Company Secretary.
  7. Address proof of the office.

What is the best business to start in Cyprus?

We put together 30 of the best businesses you can start in Cyprus today.

  • Start a fitness center business. …
  • Start an online retail store business. …
  • Start a business brokerage company. …
  • Start a taxi cab business.

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 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.

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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.

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 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.

What kind of business can I do from home?

Service-based home business ideas include:

  • House cleaning.
  • Freelance writing.
  • Personal training.
  • Virtual assistance.
  • Dog walking.
  • Marketing.
  • Designing.

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 is the tax rate in Cyprus?

Personal Tax rates.

Taxable Income Rate Amount
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
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