Successful business in Cyprus

Setting up a company in Cyprus is a popular choice among entrepreneurs looking to enter international markets and take advantage of the favorable conditions of a European jurisdiction. The registration process here is relatively simple, and the country itself is known for its favorable tax system.

To open a company, you need to decide on its type. Most often, private limited liability companies (Ltd) are registered, which are suitable for both small and medium-sized businesses and holding or investment structures. The founder can be either an individual or a legal entity, and owners and directors can be appointed from any country.

Next, a unique company name is chosen, which is approved by the Cyprus Companies Registry. The charter and constituent documents are prepared, after which an application is submitted to the state registry. In parallel, a bank account is opened for the company's future activities. It is also necessary to provide a legal address in Cyprus and appoint a company secretary, which is a mandatory requirement.

One of the main advantages is the tax system: corporate tax is 12.5%, there are many double taxation agreements, and some types of activities are exempted. This makes Cyprus attractive for investment, financial, IT and trading companies.

Thus,  setting up a company in Cyprus allows not only to legally conduct business in the EU, but also to optimize tax costs, gain access to international markets and work in a stable legal environment.