Cyprus is renowned for its location at crossroad enticing investors from Asia, Europe, Africa, European Union and more. The company receives a lot of investors who look forward for Cyprus company registration. But, the major question here is how to set up a business in Cyprus? As a firm offering legal and financial services in Cyprus, Fine Life Group take pride on their professional ability to handle all the related company formation of any size, niche and complexity. Some of the basic steps involved in Cyprus company registration are given below:
- You need to come up with a name of the company and then apply it to the Registrar of the Companies to reserve it and seek their approval. In case of emergency, you can get the list of readymade Cyprus companies. They will be available to you on request.
- A corporate lawyer of the law firm will then make the Memorandum and Articles of Association which should be signed by them.
- The Memorandum and Articles of Association is then submitted to the Companies section of the Registrar of Companies in team with the statement from the lawyer. He also needs to mention the details of the registered office along with the names of the directors and secretary and the relevant fee payment.
- Then you need to wait for a few days to get the receipt of the Certificate of Incorporation.
- Next, you have to file to the Tax department to get a Tax ID.
- Register with the Ministry of Labor, Welfare and Social Insurance if you plan to hire staff in Cyprus.
There are going to be some maintenance expenses when you up and running. Along with the Cyprus company register cost, you need to pay a yearly fee which covers the services of the directors, the secretary etc. The registered office is the address of your company and it should be a physical address here in Cyprus. You may also have to undergo yearly accounting and auditing expenses.
If you are looking forward to open a company and you are looking for a law firm in Cyprus to help you out, then Fine Life Group is your one-stop solution. If you want to know the costs involved in setting up a company in Cyprus, then these professionals will help you out. Get in touch with them and get all the help you need.
Basically, you need to keep these two factors given below in mind when going for Cyprus company registration:
1. Business factors
Usually Cyprus doesn’t impose any particular requisition on the foreigners wishing to set up a company in the nation. However, some of the business factors you need to consider are:
- Type of business
- Nationality of the person
- Presence of the present trading agreement
Location is another factor you need to keep in mind. Different cities and regions have different regulations, cost and availability. Hence, you may need professional guidance on it, as per your needs.