A member of the European Union, the country of Cyprus boasts of being the third largest Island in the Mediterranean. It may be small in size but Cyprus offers numerous business opportunities to foreigners and locals alike. One of the main reasons that Cyprus attracts investors worldwide is its economic stability. While Cyprus may seem like an attractive option for many, it is advisable to weigh the pros and cons before considering company formation in Cyprus.
Natural Gas and Oil are fast emerging as the major contributors to the economy of Cyprus.
However, the main types of businesses that profit in Cyprus’ growing economy include:
Following are the requirements for starting a company in Cyprus
For Cyprus company incorporation you have to first get your company name approved by the Cyprus Company Registrar.
Submit the following documents and forms to the Department of Registrar of Companies
Once the Certificate of Incorporation is obtained, the company needs to obtain VAT Number by registering itself with the Tax Department. The company is required to obtain Social Contribution registration at the Ministry of Labour, Welfare and Social Insurance.