hi everyone I'm Anna your consultant and presenter created by Cypress audit services let me explain whether trading in Cyprus is easy or complicated.
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Doing business in Cyprus is pretty easy and straightforward unless you are dealing with any of the below Industries no operating licensing is required Cyprus regulated Industries banking investment Capital markets insurance travel agents financial and legal Consultants such as valuators accountants Auditors and lawyers consequently all other businesses can commence trading just by complying with the local tax and vat laws which are easy to meet simply contact a regulated audit and Assurance firm like Cyprus audit services to brief you on all accounting tax that Import and Export matters that can affect your business once those have been established your local accountants and local lawyers will be assisting you on an ongoing basis with any Regulatory Compliance matters as they emerge foreign these are the compliance matters for Cypress trading companies vat registration all companies and individuals trading in Cyprus must be vat registered as the vat registration threshold is really low at 15 600 Euro Vise and interestat EU trading amongst companies is subject advise and Interstate filings a standardized approach that your local accountants and Auditors can assist you with tax number all companies and local management appearing on the financial statements must have a local tax identification number foreign directors and shareholders may not have local tax numbers if they are not tax residents in Cyprus Social Security all employees and self-employed persons must be registered with the social security system in Cyprus payroll law and taxes Insurance obligations fire and theft employers liability insurances are common for all businesses in Cyprus and mandatory by law company compliance your local regulated audit and insurance firm will ensure that all companies statutory requirements such as accounting tax payroll vat and submission of audited financial statements are met according to regulations Cyprus is an EU regulated island and has such conducting business in the Republic of Cyprus is very easy even the regulated professions mentioned are easy to conduct but take slightly longer for the licensing as expected Banking and capital markets licenses take longer than the rest of the regulated professions you can read more information about relocation and incorporating to Cyprus on our website we have written multiple articles about them about us we facilitate a complete service to our clients physical and corporate relocation assistance with premises selection and of course corporate accounting tax and audit services such as company creation anywhere in the world work permits opening of a bank accounts anywhere in the world obtaining visa and Immigration Services maintenance of the Cypress company accounting payroll banking services for your company year-end audit and payment of company taxes advisory Services across the board thank you for watching us more informative information can be obtained on our YouTube channel or podcast on Spotify .
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Thank you.
p>Originally Published 11 April 2023
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