Guidance

After the establishment of an EEIG in the Republic of Cyprus

Registration at the Tax Department

The profits arising from the activities of an EEIG are deemed profits of the members, which are allocated among them in accordance with the contract of formation, and are taxable only to its members. Therefore, no registration of the EEIG with the Tax Department is required for purposes of income tax.

Moreover, an EEIG that is registered in the Republic of Cyprus and has made taxable transactions of goods and services during the period of the previous twelve (12) months or will be making such taxable transactions 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 EEIG employing personnel 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, it 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 activities in the market.

Compliance

An EEIG and each of its directors has an obligation to inform the Registrar of Companies of any changes to its details, such as the change of name, change to details of directors, change of seat address, amendment of its contract of formation etc.

Additionally, every EEIG has the duty to keep account books, in accordance with acceptable accounting principles, which are audited in accordance with acceptable auditing principles by a person licensed to be appointed as company auditor, in accordance with the Companies Law.