provides many business opportunities to local and foreign investors, especially in the context of the first semester of 2016, when the country experienced an important economic growth. One of the economic sectors in which businessmen can set up their operations
is the financial field
, which is rather diverse here. The financial sector
is comprised of companies set up as banks, insurance companies
and other types of legal entities
related to this field. The Cypriot legislation
referring to this field is aligned with the regulations imposed by the European Union and our team of company formation representatives in Cyprus
can offer assistance for the registration of a financial business
on the local market.
Register a Cypriot financial company
In order to register a financial company in Cyprus
, the investor will have to follow the standard procedure applicable to commercial companies
set up here, a process which begins at the Registrar of Companies
, the main institution which supervises the registration and the activities of Cypriot businesses
An important aspect of the business is choosing a legal entity
which will suit the needs of the investors. This will be highlighted through the statutory documents of the future company
, which will have to be drafted with the assistance of a professional specialized in the Cypriot legislation
The investor will have to propose a business name, which will receive approval from the Registrar of Companies, after the businessman submitted the compulsory documents.
should also be registered with the relevant authorities for taxation and social contributions
. It is important to know that the registration for taxation
and Value Added Tax
is performed at the Tax Department
; our team of Cypriot company incorporation specialists
can offer more details on the procedure.
Financial sector in Cyprus
The financial sector in Cyprus
was stabilized through several economic adjustment programmes, carried out with the assistance of the European Union. Since 2015, the country witnessed the positive effects of such measures, which referred to economic growth
and lower unemployment level
The banking system in Cyprus is based on the following structure:
• cooperative credit sector;
• domestic banks;
• subsidiaries of Greek banks;
• foreign banks.