REGISTRATION OF A BUSINESS (FIRM) IN CYPRUS

REGISTRATION OF A BUSINESS (FIRM) IN CYPRUS

So how do you start a business in Cyprus? What is the price of opening a company in Kyrenia, Larnaca, Limassol, Nicosia and other cities in Cyprus? How to start your own business in Cyprus? But what are the advantages of registering a limited liability company or sole proprietorship in Cyprus? Which organizational and legal form is the most appropriate? And which is better, a legal entity or a FOP?

In Cyprus, there are the following organizational and legal forms of activity:

• A private company limited by shares
• Public company
• Limited Liability Company
• A company limited by guarantees
• General partnership
• Limited Liability Partnership
• Private entrepreneur
• A branch of a foreign company

That is, in Cyprus, you can not register an individual entrepreneur, and if you are alone as a shareholder, you should operate as a private entrepreneur (Sole Proprietorship).

This form is suitable if you do not need to hire employees and you can run the business at your own expense. Income from activities is subject to personal income tax at a rate of 0 to 35%.

The most popular form of activity is a limited liability company – because in this case the participant is responsible within its own contribution to the authorized capital.

Advantages:

• there are no restrictions on the number of participants can be from 1 to 50
• participants are responsible within their contributions

Is the deadline for registration of a limited liability company necessary?

Usually the registration of a company in Cyprus takes about 8-10 days. However, for those in a hurry, we offer the following options:

Pre-approved company names: Using one of our approved names allows you to register a company in 3-5 business days.

Use of a pre-registered (finished) company. We have pre-registered companies with different registration dates and no previous activities that can be used immediately.

There are certain documentation requirements that must be met to register a company in Cyprus. These include:

• Certificate of registration (English / Greek);
• Director’s certificate;
• secretary’s certificate;
• shareholder’s certificate;
• Certificate of registered address;
• Copies of shareholders’ passports (must be notarized)
• Apostille of stitched copies of constituent documents
• Memorandum and Charter of the company (must also be notarized);
• Excerpts from the first meeting of the Board of Directors;
• non-trade guarantee;
• Confirmation of the chosen company name from the Trade Register;
• Withdrawal from the bank indicating the deposit of the authorized capital of the enterprise.

How to register a company in Cyprus step by step?

• Choose the form of doing business (we recommend LLC)
• Prepare a charter for the Cypriot LLC
• Apply for registration of a limited liability company in the Register of Companies of Cyprus.
• After the company creation procedure is completed
• You must apply to the Cyprus Registration Chamber by applying for registration with a Cypriot company.
• Make a seal for a Cyprus company
• If necessary, obtain a permit, license, etc. for a company that will operate in Cyprus

What is the cost of registering a company in Cyprus?

To answer this question, leave your phone number or call us.

Foreigners as well as citizens of Cyprus can engage in any activity that is not prohibited by law, as well as urban planning, higher education, postal services and electricity. Most companies are registered in the construction industry, travel services, as well as the implementation of stock trading.