Small business setup in Cyprus
Cyprus offers a favorable business environment and opportunities in finance, shipping, and real estate, making it a great place for small businesses. We specialize in helping start-up and growing small businesses. Our in-depth knowledge of the local market and expertise in company formation allow us to guide you through the required documentation and procedures for launching your small business in Cyprus. Let’s talk about the benefits of starting a small business in Cyprus and how our tailored solutions can help ensure your success.
Formalities and procedure
Registering a small business in Cyprus requires going through a series of steps that can be finalized within a few weeks.
Choose a business name
The name of the business must be original and not currently being used. You can verify if a name is available on the website of the Cyprus Trade Registry.
Select legal entity type
Choosing the right legal structure is crucial for the success of your small business. To assist you in making a well-informed decision that fits your specific needs and future goals, we offer expert advice on Public Limited Liability Company (PLC), Private Limited Liability Company (Ltd.), Limited liability company by guarantee without share capital (Ltd.), Limited Liability Company by guarantee with share capital (Ltd.), Branch Office, Holding Company.
Set up legal address
It is crucial to have a legitimate address when establishing a business, as it acts as the primary contact point for government agencies, legal entities, and important business communications. Selecting a legal address that complies with local regulations and aligns with your business needs is crucial.
Get the necessary paperwork ready
We will assist you in producing accurate and comprehensive documentation tailored to your company’s specific structure and objectives. We assure compliance with all legal requirements and will manage the filing procedure on your behalf.
Open a bank account
Setting up a corporate bank account is necessary for establishing businesses in Cyprus. We will guide you through the process, making sure you follow the regulations, and support you in opening a bank account with a respected financial institution in Cyprus for your small business operations.
Company registration
We take care of the registration process with authorities such as the Trade and Companies Register and tax authorities, removing the administrative burden from you. This ensures that your small business is officially recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is important to keep precise financial records. Our group of accounting professionals can assist in creating efficient accounting and bookkeeping procedures that align with the regulations of Cyprus.
Small business examples
Small businesses can be found in various industries and sectors, each with unique requirements. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Cyprus
Cyprus is an attractive location for creating small businesses, providing numerous benefits:
Strategic location
Cyprus offers a welcoming environment for business, specifically in the fields of finance, shipping, and real estate. The country’s advantageous position at the intersection of Europe, Asia, and Africa, along with its attractive tax system and proficient workforce, make Cyprus a perfect choice for companies seeking to grow their global presence.
Favorable tax regime
Cyprus has a corporate income tax rate of 12.5%, known for its advantageous tax system that includes exemptions and deductions. It is a popular choice for international business operations and holding companies.
Banking
Cyprus has a prime location for global business and a well-controlled banking industry that appeals to investors seeking offshore banking, investment, and financial services in a safe and advantageous setting.
Our small business setup solutions
We understand how valuable your time and resources are. This is why we offer two convenient options to make the process of company formation easier.
Business formation online
With the online portal offered by Cyprus, individuals can start and finalize the process of starting a business from any location globally. The option to track advancement, turn in necessary paperwork, and access our services via secure digital channels guarantees a hassle-free and user-friendly experience.
Business formation remotely
If you would rather not deal with paperwork, we can manage all the necessary formalities for you. Our team of experts will handle the required paperwork and communicate with the appropriate authorities to provide you with peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a meeting and begin pursuing your business goals. Let’s embark on this journey together.