2022-2023 Cyprus Country Report

CYPRUSCOUNTRY REPORT 2022
CASE STUDY
THREE-STEP
COMPANY
REGISTRATION
Company registration in Cyprus is simple and
efficient. This is an example of the required
steps for a simple and straightforward set up in
Cyprus for a small or medium sized company.
THREE EASY STEPS:
1REGISTRATION OF THE COMPANY
Registration must be done at the Department of Registrar of Companies
and Intellectual Property. It is advised to seek professional advice and
once your lawyer has filed for registration, it can be expedited and
completed in one (1) business day. The administrative cost is €395, lawyer’s
or administrative service provider’s fees not included.
2SUBMIT A ‘LETTER OF INTENT’
A ‘Letter of Intent’ must be submitted along with the supportive
documents required through email to the Business Facilitation Unit
(BFU) to register the company as Company with Foreign Interests.
This takes no more than seven (7) business days.
3BOOK AN APPOINTMENT
Finally, you must book an appointment to register the company’s
employees with the Civil Registry & Migration Department (CRMD).
Only 3-5 employees per appointment, administrative cost is €330
per employee, lawyer’s or administrative service provider’s fees not
included. Once you book an appointment, the licence of the employee for
temporary residence and employment takes 40 days to be issued.
• Simply visit the booking website. Select a convenient language
option and choose: Town (Nicosia)→ Third-country nationals→
Companies registered at the Business Facilitation Unit and select a date.
• Regarding the stipulations for ‘Employing Third-Country
Nationals’ please visit this webpage of the CRMD’s website and have a
look at the documents and fees.
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