Start a Business in Cyprus

Since Cyprus’ accession in the EU it has become even easier to establish a business in Cyprus. Especially for EU citizens, who can work either as self-employed persons or set up a company in Cyprus, both without restriction. It is significant to note that EU citizens are able to start a business without the need of a local partner, whilst work permits are not required for them. Moreover no minimum investment is needed.

The low corporate tax (10%), the fact that English is widely spoken on the island, the low crime rate, as well as the low unemployment rate, the modern and efficient legal, accounting and banking services, are some of the factors that make Cyprus an appealing market to start a new business in.

Business opportunities for the establishment of a new business exist and continue to develop. There are a great numbers of sectors that offer opportunities for business, most of them linked to the leisure and tourist industry, property investment and development, renewable energy sources, maritime and shipping and trade in general.

Democritos Aristidou & Co can operate as a One-Stop-Shop and facilitate persons planning to start a business in Cyprus, by providing the necessary legal advice and services regarding company formation, VAT and Tax registration, Bank Account opening, Immigration and Social Security issues, Contract Law related matters as well as any other Legal issues.

Overall our Law Firm can provide the essential guidance and support not only for the purposes of setting up a new business but also for the purposes of investing in existing projects.