Cyprus-Forum.com

[diana85]

Hello, maybee somebody can give a small consultation for me
How can I (EU citizen) open my firm in Cyprus?
What taxes I need to pay?
Maybee someone knows some links in web where I can look?
How much it costs?
Where I can do it?

Thanks

[cyprusgrump]

Hello, maybee somebody can give a small consultation for me
How can I (EU citizen) open my firm in Cyprus?
What taxes I need to pay?
Maybee someone knows some links in web where I can look?
How much it costs?
Where I can do it?

Thanks

You need a good accountant - they can set the whole thing up for you.

They will also have a selection of pre-approved company names you can choose from - you can't just pick your own name here...

I can recommend an excellent accounting firm in Limassol that we use...

[Tim Drayton]

Do you want to set yourself up as a self-employed person, or establish a company? Quite frankly, if you just want to be self-employed in Cyprus as an EU national then you can easily go through the procedures yourself without needing an accountant or consultant. You just need to register with the tax office and get a tax number, then register with the social insurance office and get a social insurance number (and you will have to start paying into the fund!), then you go the immigration office to apply for a residence permit. You will also have to think about VAT. The VAT threshold is low in Cyprus, so depending on how much turnover you are expecting to do, you may have to go to the VAT office and apply for VAT registration, in which case you will have to return a VAT form every quarter.

[pretty-as-pink]

DONT USE DIV

[Raymanoff]

VAT returns every month if you bill within the EU on frequent basis... VAT must be registered if your sales exceed 10.000 Eur per year. To register a company usualy costs 1000-1200 Eur, Bookkeeping around 200 every quarter.

[pretty-as-pink]

If you are going to be self employed dont register with social security.
if you have to have time off work, they wont pay out to help you as you would of been self employed!

start the business, see how it goes and keep your mouth shut untill you feel its going to work. then register etc.
quite risky as not alot of money in cy at the moment

[Tim Drayton]

If you are going to be self employed dont register with social security.if you have to have time off work, they wont pay out to help you as you would of been self employed!

start the business, see how it goes and keep your mouth shut untill you feel its going to work. then register etc.
quite risky as not alot of money in cy at the moment

It is mandatory to register with social insurance if you are self-employed, regardless of the fact that you will not get any benefits from them. You certainly won't get a residence permit otherwise.

[pretty-as-pink]

If you are going to be self employed dont register with social security.if you have to have time off work, they wont pay out to help you as you would of been self employed!

start the business, see how it goes and keep your mouth shut untill you feel its going to work. then register etc.
quite risky as not alot of money in cy at the moment

It is mandatory to register with social insurance if you are self-employed, regardless of the fact that you will not get any benefits from them. You certainly won't get a residence permit otherwise.

okay tim thanks for putting me in the picture

[Raymanoff]

pretty-as-pink, that is illegal... you must register with social insurance to be self employed.

[pretty-as-pink]

pretty-as-pink, that is illegal... you must register with social insurance to be self employed.

i know this thanks also ray for putting me in the picture