If you are looking for access to the European and global markets, Cyprus is the best entry point for many reasons. The lowest taxes in Europe and freedom of movement of capital thanks to EU membership are just some of the advantages of registering a business in this country. Find out the features of Cyprus company formation and the most effective way to complete the registration procedure.
Advantages of Opening a Business in Cyprus
- Duty-free transportation of goods within EU countries;
- 0% tax rate on income from any foreign branches and subsidiaries;
- Low corporate tax of 12.5%;
- Preferential taxation for high-tech and IT companies, which can be cut to 2.5%;
- Ease of air travel to the largest cities of Cyprus from anywhere in Europe, Africa, and some other regions.
- No language barrier due to the possibility of submitting documentation for registration in English.
How to Start a Business in Cyprus
The mechanism for launching new companies in Cyprus is well-developed and includes several stages. Going through them on your own may cause some difficulties, but with the legal support of Fintech Harbor, everything will go smoothly and quickly:
- Selecting the type of business and company name. The Registrar of Companies reviews and approves the proposed name within no more than 2 days.
- Preparation of a package of documents, including the Memorandum, documents on registration of shareholders, Articles of Association, etc.
- Submission of a complete package of documents to the Registration Department. Document verification is carried out within 2 days.
- Obtaining a VAT number from the taxation authorities.
- Opening a company bank account.
- Obtaining a license for the type of business activity you’ve planned.
With the help of experienced specialists from Fintech Harbor Consulting LTD, you will go through the procedure of company registration in just a few weeks. The time spent on obtaining a license will range from 5 days to several months, depending on the industry in which you intend to conduct your business. Fintech Harbor lawyers have helped hundreds of companies open a business in Cyprus and are well aware of all the nuances of this procedure. With their help, entry into the European and world markets will be fast and comfortable.