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Company Formation in Nicosia

Updated on Monday 13th June 2016

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Company-Formation-in-Nicosia.jpgThe process of opening a company can differ from one country to another. Businessmen who are interested in setting up a business in Cyprus can choose as a main location the largest city of the country, Nicosia, which can offer many business prospects. Our team of Cypriot company incorporation specialists can offer assistance for many aspects referring to the registration process of a new business, such as choosing a legal entity suitable for the activity of the company, drafting the statutory documents and comply with the requirements of the local authorities. 
 

Important information about Nicosia and Cyprus

 
Those who are seeking to expand their business activities in Cyprus should know that the state became a member of the European Union (EU) in 2004. Thus, the local legislation has introduced in the national law the main regulations which are applicable within the EU. Few years later, in 2008, the country changed the national currency with the euro currency. The most important industries of the country are represented by tourism, financial services and real estate industry; our team of Czech company formation representatives can provide more details on this matter. 
 

Register a company in Nicosia, Cyprus 

 
The registration process begins at the Registrar of Companies, which can be carried out through the traditional registration submitted at the local office, or by sending an electronical application, available at a dedicated website
 
It is important to choose a legal entity which will reflect the interests of the investors and for this it is recommended to receive the assistance of professionals, who can assess the most important aspects of the future business. The consultants will then draft the articles of association and the memorandum of the legal entity. A particularity of the local legislation refers to the fact that these documents are not established under a standard form. Further on, the business will need to be registered at the Department of Registrar of Companies and Official Receiver
 

Register for tax purposes in Nicosia 

 
All companies operating in Nicosia are required to register for tax purposes. Corporate entities must submit at the Tax Department, where they can also register for Value Added Tax. The process can be completed through an on-line form. At the same time, new businesses have to register for social security and social insurance at the Ministry of Labor, Welfare and Social Insurance
 
Investors who need further details on the incorporation process of a new business in Cyprus can address to our team of Cypriot company formation agents
 

Comments

  • Lawrence 2016-06-14

    How much time should a person allocate to register a company in Cyprus? Thank you!

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