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Services - Cyprus

Updated 10/2009

Legal requirements

The services Directive aims to:

  • facilitate freedom of establishment for service providers in EU member states;
  • enhance the rights of service recipients;
  • improve service quality;
  • establish effective administrative cooperation between member states in this field.
  • Directive on services pdf български (bg)czech (cs)dansk (da)Deutsch (de)eesti (et)ελληνικά (el)español (es)Français (fr)Gaeilge (ga)italiano (it)latviešu (lv)lietuvių (lt)magyar (hu)Malti (mt)Nederlands (nl)polski (pl)português (pt)română (ro)slovenčina (sk)slovenščina (sl)suomi (fi)svenska (sv)[110 KB]

Although Cyprus has not yet enacted the legal framework for the directive, since 2004 the liberalisation of direct foreign investment from citizens of both the EU and other countries has enabled foreign firms to pursue service activities.

 

Administrative procedures

The One-Stop Shop is a modern institution which aims to accelerate, to the maximum extent possible, the procedures required to set up a business in Cyprus. The Service can be used by both foreign and Cypriot investors.

The Service provides six different services, thus reducing bureaucracy and reducing the time spent to set up a company.  The following services are offered:

  • Guidance/ services to Cypriot and foreign investors.
  • Registration of a company in Cyprus
  • Registration under the Value Added Tax Registry.
  • Registration for Income Tax.
  • Subscription to the Social Insurance Fund and registration to the Employer Register.
  • Application for the issuance of residence and work permits in Cyprus.

Appropriate measures have been taken in order to significantly decrease, to one week, the average time needed to set up a business, especially a small or medium-size business.

  • One Stop Shop for Setting Up a Businessελληνικά

"Points of Single Contact"

Interested companies should apply directly to the Registrar of Companies to register their business. The can do so faster by using the online one-stop shop.

Social insurance

All interested companies may contact the One Stop Shop for Setting Up a Business to become registered under the Employer's Register and receive information on the required procedure.

Work permit applications

All interested companies may contact the One Stop Shop for Setting Up a Business to receive information on the required procedure and submit their applications.

Other procedures

Liberalisation of investment does not mean that companies no longer have to obtain permits/licences or are free to ignore other statutory and regulatory formalities.

 

Check also the legislation on this topic in:

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Enterprise Europe Network - Contact points

The Enterprise Europe Network provides businesses with information and advice through its local contact points. 

Choose your nearest contact point for personalized help and advice:

Further help

The Cyprus Investment Promotion Agency provides extensive professional help to businesses with their registered office abroad and to persons seeking investment possibilitiees in Cyprus. It also offers post-investment opportunities to international businesses already having a registered office in Cyprus.

 

SOLVIT helps businesses deal with problems that arise when national authorities wrongly apply EU market rules.

If you wish to establish a business or perform temporary cross-border services in the EU/EEA area (the 27 EU member states, plus Iceland, Liechtenstein and Norway), turn to the ‘Points of Single Contact (PSC)’ – Members of the EUGO network – that will help you to complete all necessary administrative procedures on-line! Get the information you need and submit your applications to the responsible authorities online. You no longer have to worry about contacting several different authorities one by one – the PSC will do it for you!