News and developments
New scheme on fast track business activation in Cyprus
Companies interested in joining the Fast Track Business Activation mechanism should meet the criteria below, thus contributing positively to the country’s economic growth. The main criteria are:
- Companies should have a physical presence in Cyprus including establishment/operation of independent offices that are separate from any private residence.
- Existing companies should have a minimum turnover of €500.000 per year for 3 out of the last 5 years.
- New companies should provide a reliable 5-year business plan illustrating growth potential.
- Provision of Services for the establishment of a company. This involves the assistance to companies to obtain all necessary registrations for the establishment of a business from a single point of contact, including the following:
- Company registration and name approval
- Registration with the Social Insurance Registry and the Employers’ Registry
- Registeration with the VAT Registry and in the Income Tax
- Guidance for establishment and operation of companies in Cyprus and provision of information for all the necessary permits required by the company in order to start operations.
- Facilitation for the issuance of residence and employment permits in Cyprus for third country nationals.