How do I set up a 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.

How much does it cost to register a company 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.

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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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.

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.

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.

How many companies are there in Cyprus?

Cyprus Number of Registered Companies data was reported at 216,239.000 Unit in 2018. This records a decrease from the previous number of 217,588.000 Unit for 2017.

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.

Sunny Cyprus