Guidance

After incorporation

Registration with the Tax Department

Every company is obliged, within sixty (60) days from the date of its incorporation, to register in the Taxpayer’s register of 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 with the Social Insurance Services

Every employer is obliged to register in the Employers Register of the Social Insurance Services by filling an application to register as an employer. If the employer has branches in different districts or is engaged in more than one economic activities, he/she must register separately for each district or economic activity.

Registering a Trademark

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

Corporate Compliance

A European Company (SE) and every officer ot the company, has an obligation to notify the Registrar of Companies of any change to the company's particulars, such as change of name, change of directors' and secretary's details (or members of the supervisory and management body, in case of a two-tier system), changes in share capital, change of registered office address, registration of charges over the assets of the company 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 a copy of the company's financial statements.

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

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