Cyprus is on the rebound, according to the National Statistical Service which issued an estimate for the economic results registered in the second quarter (Q2) of this year. The estimation indicates a 3.9% increase compared to the same period of last year, which is a very good news for Cyprus. If you are interested in starting a business in this country and need advice, our Cyprus company formation consultants will be able to guide you.
Choosing the right legal structure for your business in Cyprus is one of the most important decision an entrepreneur has to make when setting up a company in Cyprus.
The European Commission declared that Cyprus is registering a very solid economic recovery. The quarterly GDP growth in the third quarter of 2017 was as strong as in the first six months of the same year.
The Cypriot authorities have recently presented the Doing Business Report for 2017, which reveals many positive aspects of the local economy. The Report is conducted by the World Bank and it analyses 190 economies in terms of the ease of doing businesses in each of these countries. Businessmen who are interested in Cypriot company formation should know that Cyprus occupies the 45th rank for the ease of doing business, which is based on several aspects. Our team of company formation representatives in Cyprus can provide more information to those who want to start a business here.
Due to a mixture of reasons, businesses fail to meet their purpose and generate the results the investors had when they registered the company. In specific cases, the businessmen have to face the fact that the business must be closed down. However, companies can be closed for less stringent reasons, for example, the investors have lost their interest in operating in that respective field or they want to reinvest their profit into another type of company. Our team of company formation representatives in Cyprus can assist businessmen in closing a business down, following specific regulations imposed by the commercial law.
Cyprus represents an important business location, especially for those interested in the tourism industry, which is an attractive field and a top sector for the country’s economy. At the same, those who are searching to relocate in a country with a warm environment and interesting landscapes can choose Cyprus at their new domicile. Businessmen who want to relocate in order to open a company in Cyprus should first analyse the cost of living in this country, which does not differ greatly from other similar countries, members of the European Union. Our team of company formation representatives in Cyprus can offer assistance on many aspects referring to the general Cypriot costs, including those which target at the registration of a new business.
Although most of the businesses are registered in order to develop to their full potential and become very well know companies, represented by large corporations, some investors are searching for ways to set up a small business, which can be managed in a simple way by only few employees. Small businesses are usually recommended to investors who want to start as a sole trader, which represents the simplest legal way to conduct a commercial activity. There are several fields which are of maximum importance for the Cypriot economy and our team of company formation consultants in Cyprus can provide advice on how to choose a domain suitable to the investor’s interests.
Cyrus offers a good business environment to the foreign investor. The country has several characteristics that act as “pull factors” for any entrepreneur. Cyprus is constantly improving its policies and has excellent long-term growth potential. Foreign investors who are interested in opening a company here can request the services of our company formation experts in Cyprus.
The European Investment Bank and Hellenic Bank signed two agreements that between them are worth 115 million euros in order to help Cyprus fun its public infrastructure and boost the development of small and medium sized enterprises in the country. The main goal is to encourage economic growth and at the same time create new job. Our Cypriot company formation experts can help you access any available incentives or funds that may benefit your business in Cyprus.
Officials in Cyprus have been implementing a programme of economic reform and fiscal consolidation in order to improve the country’s economic perspectives. During a recent visit in the United States, president Nicos Anastasiades talked about the country’s plans for improvement and the importance of foreign investments and partnerships, particularly with the U.S.
Cyprus and Iran signed an agreement to avoid double taxation in the two jurisdictions. The treaty deals specifically with income tax for companies and individuals doing business in the two countries and it marks the beginning of a better collaboration between the two states as well as improved tax evasion avoidance. Cyprus has signed a number of such double tax treaties with other countries worldwide.