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Company FormationCyprus

Cyprus is a small Mediterranean country that is also a member of the European Union. The country has a population of slightly below one million people and a GDP of more than $21 billion. It is also known for its tax-havens status. The corporate tax rate of 12.5% is much lower than the European Union’s average of 22%. It is also a great place for fintech, shipping, and logistics companies.

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Why Registera Company in Cyprus?

There are a number of reasons why you might consider registering a company in Cyprus. These are some of the reasons why many companies from other companies are setting business in the country. In fact, this is the reason why the Cypriot economy has seen economic growth that is faster than that of the European Union’s average. Here are the reasons for registering a company in Cyprus.

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Strategic location

Cyprus is strategically located at the intersection of Africa, Europe, and Asia. This makes it an ideal location for any type of business.

EU member state

Cyprus is a member of the European Union. This makes it possible to freely access the second-biggest economy in the world.

Young and educated population

The Cypriot economy is made up of a well-educated young population. This makes it ideal for any type of business.

Economic enabling environment

The Cypriot government understands that the country does not have a lot of resources. As such, it has created a good environment for global and global companies.

Incentives

The country has put in place incentives like the investment passport that helps attract international businesses.

Quality infrastructure

The country has quality roads, ports, and airports that make it possible to transport goods in the country and internationally.

Weather

Cyprus has one of the best weather in the world. The country experiences sun throughout the year.

Safe country

Cyprus has been ranked as one of the safest countries in the world.

Business Entitiesin Cyprus

There are a number of types of businesses you can register in Cyprus. Some of these types are:

Sole proprietorship

This is ideal for a very small company such as a shop.

Partnership

This is a company that is made up of a number of people who are in partnership.

Limited Liability Company

This is the most common type of company in Cyprus. It removes any liability from the founders to the company.

Branch of a overseas company

This is when an international company wants to set a branch in Cyprus.

Trusts

These are companies that seek to manage wealth of a person or a company.

Steps for Registeringa Company in Cyprus

One of the incentives the government has put in place is to make company registration a simple process. The process can be registered fully online. The following are the steps for registering a company in Cyprus:

Here, you search the name of the company and whether it is available.

You should download, fill, and submit HE1, HE2, and HE3 forms to the department.

Other documents you should submit are a memorandum of association, passport or ID of directors, and address of the company.

Obtain the Value Added Tax (VAT) number. You do this by registering with the tax department.

Obtain and fill social contributions.

FAQson Registering a Company in Cyprus

It is not necessary but it is highly recommended. An experienced lawyer will help you solve all the legal requirements of the company.

It depends. A sole proprietorship takes less time. In fact, it is possible to have a sole proprietorship register within a few days. Others like large companies require more time.

In some instances, it is required that you be present when registering the business. However, it is recommended that you use a lawyer or a Cyprus company registration specialist to work for you. We register the companies in Cyprus through our licensed company.

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