Guidance

After Incorporation

Registration at the Tax Department

Every company is obliged, within sixty (60) days from the date of its incorporation, to apply for Taxpayer’s registration with the Tax Department and to obtain a tax number.

At the same time, any natural or legal person residing or is registered in the Republic of Cyprus, that has made taxable supplies of goods and services within the last twelve (12) consecutive months or will be making such taxable supplies of goods and services over the amount of €15.600 in the next thirty (30) days, is required to submit a supplementary form for VAT Registration.

Registration at the Social Insurance Services

Every employer is required to register with the Social Insurance Services by submitting the application form for employer registration. When the employer has branches in different districts or deals with more than one economic activities, he/she must register separately for each district or activity.

Registration of Trademark

You are advised to register your business' trademark with the Intellectual and Industrial Property Section so that you can differentiate your products and services in the market.

Corporate Compliance

The company and every officer of the company, has an obligation to inform the Registrar of Companies of any changes to the company’s particulars, such as change of name, change of directors and secretary details, changes in share capital, change of registered office address, registration of charges over the assets of the company, amendments of its memorandum and/or articles of association, etc.

At the same time, once every calendar year, the company must prepare its annual return up to and including its reference date, and submit it to the Registrar of Companies along with its a copy of the company’s financial statements.

At the end of each tax year, the company must prepare audited financial statements and submit them along with the tax return to the Tax Department.

Additionally, it should be noted that every company is obliged to pay an annual fee equal to the amount of three hundred and fifty euros (€350), by the 30th of June of each year.