Cyprus Company Registration Services
Although it experienced a financial crisis in 2013, Cyprus has since then restructured its economy and turned it around since then. Cyprus is now experiencing growth in its economy since 2015.
Cyprus is a market consideration for investors because it is an ideal location for a company to set up its regional headquarters. In addition to being located in between Europe and North Africa, Cyprus is also in close proximity to many of the leading African markets. Cyprus continues to be a region that is in the eye of many an investor because of the following strengths that the market has working in its favour:
- The strategic location of the country makes it an ideal gateway into other markets which include the Middle East, Russia, Eastern Europe and the Persian Gulf.
- Cyrus is home to a highly skilled and educated workforce for hire.
- Cyprus also has the lowest tax rate compared to the other European Union countries, with a tax rate of only 12.5%. Investors who register a company in Cyprus are allowed to legitimately conduct businesses in the Cyprus and international markets with the low corporate tax rate of 12.5%.
- Cyprus is also home to an advanced telecommunications network and infrastructure system, which is crucial aspect for business environments if any business hopes to thrive.
- English is also widely spoken in Cyprus, easing communication for business purposes.
- Cyprus’s economy relies heavily on imports, so there is potential for foreign investors who have something to contribute to the local markets.
- Companies established in Cyprus can also benefit from the double taxation treaties system which Cyprus has with more than 47 countries, including China, India, Ireland, Singapore, UK and the US.
- Foreign nationals are allowed to own 100% of their Cyprus companies, and the requirement for Cyprus company registration is at least one shareholder and one director who can be of any nationality.
The incorporation and Cyprus company registration period could take a total of two weeks to complete approximately, depending on how smoothly the process goes. To register a company in Cyprus requires a physical office space location.
How to Register a Company in Cyprus
To begin the Cyprus company registration process would require investors to take the following measures:
- Reserve the company name and acquire initial approval with the Registrar of Companies.
- Prepare the Memorandum and the Articles of Association by the lawyer.
- Submit the documents at the Companies Section of the Department of Registrar of Companies and Official Receiver.
- Register at the Tax Department for the tax and VAT and obtain a tax identification number.
- Register for the Social Contribution at the Ministry of Labour, Welfare and Social Insurance.
Need more assistance in getting your Cyprus company registration process started? For additional information on our services, please contact us and we will be in touch with any queries you may have.